Any word if the standard 2% cost of living has been confirmed?
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go for the jugular , don't let them get away with a measily raise, your labor should be paid well, everything is more expensive so should be asking for 12% minimum
High performers are getting higher raises this year. If you want to know where you stand, this is your sign
Dude, what color is the sky on your planet where 3M pays over-inflation raises?
In my many years I can maybe think of one, only one, where the raise might, emphasize might, have exceeded consumer inflation.
Every other year, of which there are many for me, the raise has been at or below inflation.
If you offered 3Mers a deal where the 'meets expecations' performance raises exactly matched CPI inflation, both positive and negative, most would jump on it. I'm certain I would.
Increases will not match inflation. Its not meant to. Shall we claw back from years of low inflation? Didn’t think so.
Really? If leaders are bumping up the standard merit insult (not a typo) from 2% to 3% this year, perhaps its to make up for the HUGE losses from the AIP payouts. None of the masses are getting their full compensation this year. The message of 3%: hey everyone, you're losing out on thousands of $ but here's a few peanuts to make up for it!
This year is 3%.
How do you know this information? 10% across the board for all L3 and up would have been a ~$40M+ increase! Pretty impressive.
All the L3 and above got 10+% last year. That is a fact. The rest came out to 2.5%.
But, as there is no COLA in the general 3M US pay system, the merit increases are supposed to do the work of both.
If the raise, no matter the name, isn't at least consumer inflation, you are taking a real pay cut for the same work. Remind your leaders of that at every opportunity, I know I do.
This percentage is a merit increase not cola.
To my understanding, 3M doesn't do a "Cost of Living" raise. It's confused with the assessment of the area sites around the production site to ensure we are competitive. Most of which are catching up to 3M but not passing 3M. We are quickly falling from the benchmark to an average player in the business. Most of these assessments are done the end of spring or beginning of summer. This would probably be the year that they would opt out due to the economy. I know of a plant that went 3 years after the pervious recession without getting a annual raise. I'm preparing for the worse and hoping for something positive. Stay strong team!