What does it mean when HR talks about making our pay more “modern and equitable”? Corporate jargon for pay cut?
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Yes, in short.
Seems like the cap on bonus multipliers for individual performance will provide the equitable piece they are after.
Some of it was aimed at the severance package that is "well above others" as it should be for working in an industry that fluctuates as much as O&G.
I thought it was more about bridging the salary gap between the former downstream and upstream (downstream much lower so upstream are in for a pay cut)
I missed the boat on this. What are you talking about?
Equality of outcome regardless of competence, primarily for levels F and below. Consistent with limiting individual and business unit performance differentiation relative to whole. A progressive march to mediocrity, reflected by the company outlook and share price.
Zero hour contracts
Hopefully, they are talking about pay increases to adjust for inflation and rent/housing price increases which would fall in line with "modern and equitable."