We value our employees!
25 replies (most recent on top)
@3poy, what in the world gave you the false info that any boomer with a lot of time in and a healthy 401k and other investments couldn't afford to retire at any time and isn't just here posting and laughing at the whining losers? I know of exactly none.
@3poy+1qSnpZwQ Or maybe, just maybe, because you Groomers elected the mush for brains sitting president; with his booming economic stimulus, that we now can't afford to retire.
It's incredible how many boomers are posting here. Why not just retire then if the company and pay and benefits have been so great to you? Only reason you can't afford to retire would be that you've been chronically underpaid or you've made poor personal financial decisions.
You are in a dream land if you think the company is doing well financially. We trailing most competitors in ROCE and TSR. We wrote off $4 billion last quarter! We are burning cash and could run out this year if something doesn't give. The HESS deal is in jeopardy. We may give up on California and GOM. We no longer have any MCPs in the pipeline (unless we get Guyana). All this bad news weighs on the stock price and our only way to retain investors is the dividend. Employees had a bad year, just like the company.
@2sas, Incorrect, the socialist ideal provides just the absolute minimum amount of resources for individuals or families to survive, no more, sometimes less. "Happy lives" are up to them and in most cases the opposite is true.
@2sas, That's true, but many of us have mostly satisfying positions and compensation, as well as a level of free time, personal time, personal freedom to fiddle-f@@t around during a lot of the work day with families, etc. errands, than ever before in history. All while bringing in well above average salaries, (top 10, top 5% ) with generous benefits, vacation time, etc. We are also free to leave at any time, and join another of these amazing "competitors" that everyone on these threads keep bringing up. That is relatively easy here in comparison to most overseas employers, from what I hear. My point of view is from an older employee, perhaps obvious, but, as they say, "We've never had it so good". Yet here we are complaining. Just saying.
In American business, while it is true that maximizing shareholder value is key, employees
Employees have responsibilities and are being crippled by inflation and ridiculous insurance and property tax increases. Having them work harder and giving them less vs. inflation erodes well being, morale, company culture, and adds stress and distraction, which hurts productivity, safety, and the top line value. Employees that are well rewarded and appreciated flat out perform better, are more engaged and responsible, far less stressed, and add much more value to the company and shareholders.
Given how well the company has been doing financially and what the competition is doing, employees should have gotten at least 3% structure, 1.0 CIP.
While we can do better and should be encouraged to do so, being beaten up and given much lower raises/bonus than our competitors, while the company posted second best financials is demoralizing.
American companies exist to serve shareholders, not to provide jobs or happy lives to employees (that is more of a socialist idea).
Chevron management and employee compensation is directly linked to stock price which is a measure of shareholder satisfaction. Happy shareholders, happy managers and employees. Employees get amazing salary and benefits. If they want bonuses, they have to please shareholders by cutting costs and increasing revenue to max profits for returns, including dividend and buybacks. Chevron stock can not compete for investor dollars any more on a value or growth basis. Our only attraction is the dividend. Without a great dividend, our stock price will permanently collapse.
Our competitor companies are giving out 3.2% structure and > 1.5 CIP equivalent.
Nothing to look up. The Shareholders own the company. Some employees, like me, are also shareholders. We want the company to do well, so we work diligently and enjoy that and the results of our efforts. I am sorry how that is a foreign concept to so many employees but there are plenty of us. Pick your battles. Go work somewhere else if you are so great that you feel you are grossly undercompensated. You are that great, right? Easy peasy then.
Look it up but companies are not legally forced to maximize shareholders gains at all costs. There is no law or judgment that forces that. It depends on how greedy management is if they crush employees to further shareholder gain like is done here.
Exec compensation details are out.
- 6% raise for MW, 6.3% for MN, 4.5% for HP. 0% and a sharp kick in the back side for PB.
Stock grants $17.5MM for MW, $5.6MM for MW, $4.3MM for HP. $0 for PB.
The rest of you should just keep your heads down and try to Do Better.
Unfortunately in the US the board of directors are required to prioritize shareholders and bondholders. In other countries employees are required to be a priority for the board, but not the US.
The only counterbalance is the employee right to walk is very high in the US. So management will give employees benefits to prevent that to be able to deliver to shareholders.
As an employee it can feel crummy. I do think we do get good wages and benefits. Sometimes we get treated like dirt but other times it is fine.
Shareholders aren't owed anything! It's a gamble like a casino. You aren't always going to win. I get tired of the kool aid drinkers who believe everything need to reward the shareholders and the hard working employees should be thankful for whatever we get. That attitude is destroying the US since average people get the shaft. Wake up!
“and in most cases some stock“…?
You’re crazy. Out of 20,000 employees in the US, you think ‘most’ receive stock.. ok, sure Jan.
Investors are being rewarded with higher dividends to compensate for the stock price collapse during 2023 (driven not by oil prices but by the Tengiz, GOM, Canada and California mis-management). The dividend takes the sting out of the investors losses. Employees are rewarded with a salary already plus a bonus and in most cases some stock. Now they cry they can't get more every year as well. Apples and oranges, possums.
Shareholders are mostly fickle, but employees are mostly loyal. The 8% dividend is probably too high. I think a 5 or 6% dividend would have done the intended job. As for the 2% salary structure increase, I think the company did the employee a disservice. That move will surely erode loyalty in the ranks. For crying out loud, the Social Security COLA was 3.2%!!!
A lot of people have really drank the wealthy Kool aid. Everyone should work hard and do the best job you can. The company also does owe its employees a fair piece of the pie. Right now everything is going to the shareholders while employees and getting shafted after we worked hard to make all that cash. Give the employees a fair reward. The shareholders didn't need 8%. Giving them even 5% would have been great for them. This is a major issue in the US. The shareholders aren't owed everything either but management and the wealthy believe they are!
It is amazing how most of you think you are entitled to so many y things, as if you come from another planet. Somehow this is big cultural issue in general in the US, wome. Think they deserve anything and everything for just being a woman. Men think they deserve not to work, not to come to office, get paid for little work and get bonus for just being an employee, of you look a little outside of your ego you find most people on this planet work much harder than you, are paid may e 1/10th of you at best and still are way happier than you, it all comes to the attitude, unreasonable expectation and the perspectives you have and how you see the place you live and work. Noo e owes you anything, you owe yourself your health and happiness!
If you think you are getting sc--wed find a new job. I have a feeling you are going to realize you are highly overpaid when you start looking. Stop complaining.
2% on ~1.87B shares is way more
8% on a $1.51 dividend is a lot different than 2% on your salary. Besides what does structure have to do with performance? That's on your CIP
Well, MW did say they're prioritizing containing costs while returning record amounts of cash to shareholders, so mission accomplished!
And most likely a sub 1 CIP