Competitive pay is perhaps the biggest factor that attracts and retains the best employees. The departure of some of the best employees suggests that OXY now no longer pays compensation comparable to, or higher, than the industry standard for similar jobs.
26 replies (most recent on top)
I hope you know many of these comments are targeting a specific group of people which is unacceptable.
@bdoi+1iORWzyu That would be a great VSP, but I would leave for a little less. It would be nice to get the insurance because it is the most important to me. I would like my unvested stock because that was given to me as part of the previous year's bonuses I have earned. If I could get those two and 18 months plus my vacation I would probably go for sure, but if not I have a great job and will just keep working for what i get paid. As long as I like my job and can perfrom it well the 3 days a week in the office makes the job great.
And $50 and a new iPhone. That’s all for now.
We will leave if a three year VSP payout is offered. VSP paid out over a three year period so as not to have a big tax bite and Medicare Part B costs (based on your income).
@4ehy+1iORWzyu, you have no idea what you are talking about.
The 65+ group will only be gone with a VSP. Targeting specific age groups for layoffs is illegal. You should know that.
The 65 plus will stay until the next layoff and then be the first group gone. The value they add doesn’t meet the pay they receive.
Many people who are 65 now will likely keep on working until they just can’t stand it anymore. The financial benefits of retirement just are not there especially with the uncertain economy now.
@3qhz+1iORWzyu Too bad. I am going to ride it out until this inflation and the coming recession is over. I guess you think our CEO should retire as well. She has millions and still probably works harder than you on any given day. If the older employees retired there are many 40-50 year old employees that could fill the gap, but some of the younger ones would bring the company down. All they want is a free ride and WFH everyday. They are no where near ready to take on leadership positions. So suck it up and do your job.
@3qhz+1iORWzyu, I’m glad you brought some well needed immaturity into this topic. I was getting bored with all of the adult stuff. Any suggestions for some good video games?
I agree that the 60+ age needs to retire. They are way overpaid and have had their time so please ride off in the sunset and don’t let the door hit y’all on the way out.
@3ifi+1iORWzyu Really. Why not keep working if you are able to do a good job and continue to sock away the money. WFH two days a week, plus by now we know our job duties well, so the stress is low, and the extra money will help in retirement. People are living these days longer and the more you have in the bank the better off you will be in retirement. It is just the opposite of being a loser and we are the ones gaining the cushion for retirement. Most have their houses paid off and a god chunk of the cash goes straight into savings, and that does not even include maxing out the 401K and getting the matching and retirement as well. These are the years that are paying off pretty nice. As long as the stress level stays low it is worth overy dime extra we can make. That my friend is called Winning!!
Why are people 60+ years still working here? What a bunch of losers.
Working on the most top secret project that will grow the company.
What are you doing to stay competitive? Taking classes? Attending webinars? Developing your technical skills? Demonstrating the Oxy values? Volunteering for more projects in addition to completing your assigned goals and tasks? Taking work off the boss’ plate? Helping your coworkers? Or are you doing none of these and still expecting more salary and bonus for doing the same work you did last year?
Just ki----g time on this post until the Oxy dividend goes up. Oh, we just added dividends to the thread.
I thought OP's original suggestion is the "best employees" are leaving, but no evidence of that is provided. What is this post even about? Older employees retiring? Big surprise there! Skilled employees retiring? Well I guess that's true if you agree senior employees are skilled. (Oh, I know, not all senior employees are the most skilled, so save your insults for another post.) Please tell me again what we are talking about here that is so extraordinary??
At Oxy there is no benefit to retiring unless you get paid to leave. Stick around for another year until oil prices get really low and collect your VSP.
OXY compensates their high performers...That unfortunately tends to be the top 15% of the employee population. If you are not receiving enough fish from the bucket you might want to consider your position with respect to the top 15%. Your boss should tell you at review time where you sit and what you need to do to get more fish. I guarantee that there are employees happy with their remuneration; there are others that aren't and should have a good hard look at what they bring to the table.
I will be 65 soon and plan to stay. As long as I can do a good job and we get WFH Monday and Friday there is no reason to leave. Add 8 weeks vacation and Oxy is still a nice job for me. Now if they want to pay me to leave I might consider that.
Those 60-65 who have not climbed up the ladder are likely to be by-passed for responsible positions. They have been bucketed by that time.
“ last of the age 65+ group”. Maybe the 60-65 year old age group can take their place some day. That is only if people continue to age.
The last of the age 65+ group will soon depart the workforce allowing room for younger people to fill those roles. Those who are not promoted will leave. The cycle repeats itself.
Who are the best employees who have left?
OP. Where did you get your info?
And what is 'the best employee' anyway?
Lawyer with accounting degree.
Logistics analyst with nihilistic musical tastes.
Former drill sergeants.
and the top folks, of course.
Walking talking tapeworms from Mars.
Lose em all. Find some more.