Are promotions still happening or has a freeze of some kind been implemented? I've been promised a promotion ten months ago and I'm still waiting on it. When I bring the issue up with my manager, he's quick to reassure me it's coming but I need to be patient. Then it's back to waiting. I can't figure out what's going on.
9 replies (most recent on top)
What did they actually announce yesterday? What areas are impacted?
Well after today’s news now you see why they’re being so off about it.
Insightful comments on this one. Some advice for those who have a long career path in front of them yet... Look at options now while our peers are building staff to deal with the influx of AIG non-renewals. Those companies need you now, not after the book rolls off.
What do you know, a promotion that takes 10 months? Wow. Sounds like they really value you. Value you enough to make empty promises that do nothing to move you ahead. Sorry to spoil the next part, but after you get fed up waiting for it, they come out and tell you it didn't get approved. They're really sorry.. For real, they are.
I got one of those promotions, but after taking into account the years they didn't do anything for me, it was less than 3% a year over my 6 years here. What a crock.
Just as an FYI, most of these promotions are something around 5%. You can make much more by leaving. And they don't have to lie to you. You get it out of the gate.
Other companies are doing across the board pay adjustments due to the record inflation... Haven't heard anything like that around here, huh?
Each division is different, but most are shrinking rapidly. There is no bottom in sight. Layoffs aren't happening because attrition is very high in most areas. Unless you are an executive, promos will be very rare.
To sell individual business units you need to reduce expenses, reduce catastrophe exposure and try to show a profit. The main focus going forward is stock price and unloading business units. It is doubtful you will be promoted; you may get a small raise if you stay and maybe 100% sti if you are one of the lucky few. Your manager is blowing smoke.
Long term job growth and competitive wages aren't a concern for this executive team because there is no real long-term plan for AIG other than running it off. You don't like it, move along or shut up. That is the message.
Promotions are still happening but it’s a slow process. In my area we had to go an alternate route to tap into a larger pool of money so it’s taking forever for HR to push things thru. Literally one small group at a time being handled. Senior mgmt has to approve everything and they look at the promotions once every few weeks. Miss a cycle and it’s weeks more before it comes thru.
Promotions are on hold. At least mine is.
Follow up on it and see what lies you are told? Budget concerns (huge lies since they were allegedly so profitable recently) ? Possible downsizing / "right-sizing" / layoffs...
See you what they say and do what is in your best interests... Never the company. There is no point in towing that company line..
Dangling the carrot, time to leave.