The situation is terrible. Colleagues are leaving and there is more and more work. We can only guess who will leave next. I can't take it anymore. The amount of work a few years ago and the amount of work now done by one employee is incomparable.
How long will GF be able to function this way?
Will the leadership finally make an effort to stop this much attrition?
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I got one for 14k split into 2…. So 7k per year. The crazy part…. I am not sure if others got it. But I got told to keep a gigantic secret, etc. lots of emails about keeping it a secret….but in my 1x1 I thanked my mgr…. Turns out he had no idea I had gotten it!! Crazy- really weird.
@2qwn I got mine when my manager found out I was looking for a new job 3 years ago. I think someone contacted him for a reference (without my consent).
Mine wasn't structured quite the same as others described below. It was a little longer than 18 months and with limited clawback.
"Where are these magical retention bonuses?"
If you mananger did not think you critical to company mission or you already pay too much no bonus you get.
Where are these magical retention bonuses?
From the article ----
Q: Unexpected roadblocks are part and parcel of executing any initiative. What were some of the barriers that you and your team experienced while rolling this out, and how did you successfully get past them?
A: In this volatile and uncertain world of unprecedented change, disruption, and technology demands, we believe our people are the key competitive advantage and differentiator to help us succeed.
Explosive demand for our products, COVID challenges, and a global battle for talent have been barriers for many technologies-focused employers. It is critical to find opportunities to be different in times of crisis. Driven by the GF values, we prioritised the needs of our people putting in place flexible and remote work programmes that enabled employees to better juggle the demands of work and of life.
Putting people first worked - and together, our strong management commitment to nurture the next generation of talent and pure hard work enabled us to foster a strong employee development experience.
Today, we are proud to share that we met and exceeded multiple talent milestones, and ultimately achieved the incredible goal of becoming a publicly-traded company.
I think GF is trying to save cost and show good results. They are letting go people and hiring carefully at low cost.
@1vqo+1f7Vc9UK Read that interview nothing really concrete and just full of buzzwords and touting GFS IPO and nothing else
Hahaha But the HR just won an award!!
https://www.humanresourcesonline.net/winning-secrets-globalfoundries-comprehensive-and-unconventional-career-development-experience
Haha
You can point to one single failure point of GF. and it has to be H.R. The HR leadership continues to miss any KPI yet they remain.
When they finally hired a decent HR leader they forced him out.
Don't blame your mananger for lack of tools or accountability, HR is the source of everything.
The entire HR team should be removed and outsourced to a professional organization.
@1kfq that's so GF... one or two steps behind. Reminds me of when I still cared. I moved from being a non-exempt shift worker to exempt. My manager and HRBP acted surprised when I provided basic math showing how the "raise" they initially offered was a small pay cut without the mandatory overtime, holiday pay etc. This has happened to several people and they play d-mb every time.
I know some people leaving and they were offered 15k retention bonus and they need to serve 18 months otherwise return the 15k.
They reject it obviously as they were getting joining bonus close to 20-25k plus hike around 25%.
Their manager said this to them we will be hiring soon hope you will join back. One of my other friend also got call whether he will join again as they are unable to fill back position and they are ready to match his current pay.
Manager doesn't have good tool to retain people but they were hoping easily can hire someone for this position or worse case can hire him again with good pay.
GF doing something to retain people but not sufficient. I am not sure how many people GF managed to retain after they resigned.
GF is just terrible leadership and management across the board. It’s the rejects of ibm amd and charter. They think they are smart and hot sh-t but nearly all of them are the rejects from somewhere else. And really have no experience from else where… No one comes to GF. It’s a “back-up” school of companies. The last resort and it’s really starting to show
After AIP payout it will increase as retention bonus paid (15-20k) with 18 months is one sided as companies paying sign up bonus more than this plus hikes.
Colleagues leave and you only take on their responsibility but not their salary. I'm a senior engineer covering for two, yes two, SMTS who quit.
PS I cannot believe this work was being done by 2 SMTS, it's at best senior technician work.
bahaha I thought my $15k for 2 years was decent before. My wife asked if they offered another retention bonus if I'd consider it. I told her if I'm at the point of looking for another job again I'm going to follow through with it, not leverage an outside offer. If it was $75k cash for 2-3 years I might consider it. I guess there's zero chance of GF offering that much in Malta, though.
People are going to leave especially when there is industry wide salary hikes and GF pays peanuts compared to them. Heard that some of the other competitors are paying about 75k in retention bonus, some others are increasing RSUs, some others have AIP of about 150%. Techs are moving to regeneron, at a certain point one Ned’s to think about our family and someone had pointed out in the forum that they contribute $1500 to their 401k at GF and life is good, think about a situation where you can max the federal cap of 401k contribution while getting higher in-pocket pay or on top of it increase your HSA contribution that’s not bad either. So my take is to explore outside of GF and evaluate what you want.
I think @kqz means it's a question someone posted on the gfcurrent post for the upcoming globalcast
there's a question on gfcurrent about this. Make sure you all heart/like it so either:
a. it gets addressed
b. they ignore it and catalyze those of us who have been patient to finally leave