Will the raises keep up with inflation?
23 replies (most recent on top)
“ You do understand that most employees possess certain key knowledge which, if the company fired them, the company would just lose.” Oh yes, the myth of the indispensable employee. The company did just fine before you got here and it will do just fine, may be better, once you’re gone. Yes, there are some in executives like SC that really can make a difference. But for the rest of us, we are interchangeable parts, and other parts are on the shelf waiting to be installed. Only 12-year-olds think the team can’t win without them.
@ezqm+1fDnHF5t "they should fire you all and make you reapply.."
RESPONSE: OK, will they do that to Aunt Vicky?
Secondly, the company takes forever to fill positions now, from those who left from normal attrition. The hiring process at this company, even pre-Covid, was very elongated and bureaucratic. Its gotten worse since Covid.
You do understand that most employees possess certain key knowledge which, if the company fired them, the company would just lose.
You must understand too, there is a worker shortage generally in the economy.
By the way, if they "fire everybody", the first thing that happens is: a)OPc's state unemployment premiums will go through the roof, and b)they will have to pay out all of that banked PTO from 2020, to the employees.
I could continue, but the point is, your reflex response of "sticking it to the employees" is so poorly thought, you probably are a member of the BOD...
They should fire you all and make you reapply for your jobs while competing with new applicants. Many of you wouldn’t even make the first cuts based on experience and skills. Be grateful for what you have.
From what I have seen the high performers and those that care have a hard time cutting back. I am in the same boat, but I would rather quit and find another job than not give my all on purpose. Like you say it is your choice, but live with the consequences when they come your way. I have seen many excellent employees get the same treatment as you are talking about, but they kept at it, and eventually it paid off. Talk to your manager and let them know how you feel. If you are really worth it you will be taken care of. I know many that were 2's that got ranked as 3's just because of the way HR has managers do the rankings. Many of us will no way see a 10% raise to keep up with ant inflation. You need to take your salary plus bonus and any LTO to see your true yearly compensation. It would surprise me if the average salary increase is 5% across the board once all is averaged out. We will never see a 10% across the board.
"Sage" here, replying to you two...
@emst+1fDnHF5t - I'm not "upset". I simply refuse provide more than mediocre effort if I only receive mediocre merit increases. Inflation is running at 10%. That means those OPC sheckels we receive every 2 weeks are only valued at 90% (or less) than they were a year ago. OPC has an opportunity to "right" this circumstance. If they do, great. If they don't, I won't be "upset". I simply will not be motivated to "simp" for the company.
@eiwz+1fDnHF5t - Working in a mediocre fashion will not come easy to me. I will have to "work at it". But I refuse to be a "simp" for a company which has disproportionately benefitted from the inflation, then doles out small raises to the people whose work made that success possible. (if that is what they choose to do). As for my "reputation" -- if my good reputation won't be acknowledged with a satisfactory merit increase, then it is doing me no good.
But hey, as per my original post, I am not suggesting how you should react. I am only laying out what my response will be. You do what you wish to do.
Meanwhile, I am already aware of a couple people jumping ship since the bonuses were passed out. OPC is having a hard time retaining and replacing staff. There is a way to innoculate against some of that attrition..
@djqk, you were paid a salary all year long for your contributions. You probably received a bonus for your contributions. You will be paid a salary and probably a bonus for your contributions in 2022 as well. It’s seems small minded to get upset about the size of a salary increase, when you are already being compensated for your work.
@djqk+1fDnHF5t If you decide to stay at Oxy and do the minimum are you not just setting yourself up for lower bonuses and any merit increase in the future? Doing the minimum seems like it will only come back to haunt you unless you are serious about leaving. And then what if you don't get a better offer and you have ruined your previous hard-working reputation. People keep posting about all these high paying jobs out there, but I have not seen many leaving Oxy. As well most people that work hard usually have a hard time kicking back and doing the minimum. The reason they are hard-workers in the first place is because it is built into their personality and that is who they are. Just not sure doing the minimum is a good idea.
Sage is a numb nuts.
Every one should know in their own mind what is a "minimum acceptable" merit increase. Some may think 2% is 'OK'. Others 4%, and so on. There is no one right answer. If the company meets 'your' number, great!
If the company doesn't meet 'your' number, you should have your 'action plan' in place. And again, each of us will have a different action plan, and that is OK too. Maybe your 'action plan' is to shrug your shoulders and say 'oh, well'. Maybe your action plan is to jump ship (or retire).
My action plan will be to sit back, stop giving a d@mn, and do as little as I can, in as mediocre a fashion as i can. 2022 "Bar Matrix" goals will not be achieved. After-hours calls will not be answered. If hard work and long hours is not acknowledged, then a lousy merit increase will be paid back 'in kind'. Again, your action plan may be different, and that is fine.
they key point though: know in your own mind what is a 'fair increase". Then have an action plan if it isn't met. None of us can control what merit increase they have decided on. We don't have that power. But we are not powerless either -- we control how we react to it. Exercise YOUR power!
I challenge them to make raises so low to drive asssholes like you out of the company.
I challenge HR to increase the salaries so much that every single employee is happy like toddler in a candy factory. Come on HR the God is watching you and your gotta do the right thing.
just fire up the wayback machine with target date 1974 for how this will all go down. embrace the suck kids
@2lvz, raises aren’t based on the price of oil and raises aren’t based on inflation.
@buh+1fDnHF5t, so if I understand correctly, at a time of very high prices at the pump, we’re going to add an additional cost to the price of oil in the form of an additional corporate tax. Of course corporations pass every tax on in the form of higher prices. So make consumers pay more for a gallon of gas. That’ll teach those greedy corporations a lesson!
It’s going to be massively disappointing with oil at 120 if the raises are only 4%
If you are a great performer and already at the top of your salary range don’t expect much of a raise. That is how it works. You need to get a promotion to really collect the rewards.
@vsk They had to be submitted by last week. I would expect to hear in the next two weeks. Believe the first check with new pay rate will be on April 8th. That covers March 21st - April 3rd.
When do we find out about raises? Next week?
Raises never keep up with inflation. Raises are driven by the market for employees. If you want cost of living raises go on social security.
Considering Exxon and Chevron decided to do average 3% raises I don't see oxy doing better. Unfortunately it's looking like this is the right time to jump ship
No way. Got gas a Friday and the 2.89 in the morning. Yesterday same station was 3.89 with 115.00 oil. Oil peaked Sunday at 127.00, and is now 120.00. So I figure the gas will be up to 4.00 and over a gallon for regular this week. Factor in everything gets to the market by some type of fuel and everything will continue to go up. Inflation could easily hit 9% soon, and there is little chance we will get a 9% or more raise. Maybe the federal govt will realize America needs oil and gas for now, and do a slower transition. First thing they need to do is validate the recent GOM lease sale and get out of the way. It would not surprise me if oil companies are going to just produce and not go after new exploration and other projects just to prove a point to this admin that the US is not ready to flip the switch on all green. Last week the rig count actually went down. Texas rig count went down by 4 and the GOM by 2 last week.
You people are so spoiled. Have you ever heard of a windfall profits tax. If you don’t watch it that is what the government will do to your company as a result of this crisis. If I were you I would keep a low profile.
Hopefully!