Rewards are NOT learning experiences and more work... "Rewards" are actually paying employees and giving cost of living increases.
Calling it now, the ONLY people getting these "merit" increases will be leadership and sales peeps. Meanwhile the rest of us will stay stagnant and take on second and third jobs while we try and hunt for a new career in this dumpster fire of a job market.
@OP
Not true. I went to my bank today to pay the mortgage and they knocked a couple bucks off for the CBTs I took during the month.
@f9 You're right. My pay went from $7,000 to $240,000 over 40 years. It was great except for the last 10. There are still large promotions, but they are usually limited to favorites who do not last like the last CFO and CMO.
@f9 this is not just Xerox this can be said about many careers in be case that you switch companies. But if you’ve done your work you’re stepping up in each job change in your career with different employers. It’s no longer part of the company’s job to take care of you it’s your job.
@ee i cannot speak for the forward direction of the company (that speaks for itself) but ive been with xerox now for nearly 14 years and i have worked in 4 different roles and had a total of 6 promotions and make roughly $49k MORE in base salary than when i started as an hourly service tech... there WAS mobility, and WAS opportunity. I'm confident thats forever gone now.
no more starting and retiring here like SOOOOO MANY people did from the mid 70s all the way through the early 90s (people retiring now) with 30, 35, and 40 year ACTUAL CAREERS here.
you used to be able to raise a family, make a career, can depend on this company. its genuinely sad that people will never be able to do that again.
How you are actually rewarded (merit) raises works:
https://www.youtube.com/watch?v=FnLJdZR_XeY
@e0 The reality is that having your job when we need to cut 50-60% of the workforce is a reward. You are a chosen "one".. just remember you chose to not go job hunting, you chose to not quit, you chose not to xyz. In this case those being abused by corporate restructuring in the case of staying and having to suffer though it all did have 50% of the responsibility.. so when you bi--h and moan just accept 1/2 the blame as your own.
@e0 yes. They said that rewards wouldn't all be necessarily in the form of merit increases,
but (and I quote) "development opportunities, learning experiences, and career mobility"
Rewards will also look different depending on geography or the side of the business that you are in, and if you joined from an acquisition. (translation: some people will receive actual monetary rewards, while others will not)
I missed this. So they actually said your reward is doing more work and learning other peoples jobs?
@bn I'm not sure it's denial or too many people have received merit raises over the years that have them receiving a higher than market pay rate for the positions they hold and it will be painful to take a pay cut (being paid what the market really thinks they are worth).
Guessing the fireside chat spawned this? I missed it, thankfully.
@bn So what timeline do you see happening for filing chapter 11? We should start a bingo machine.
@at 18-24 months? Their financials won’t support your generous time line. I’m shocked at how many in North America are in denial and don’t get out before the market is flooded with so many looking for employment. You’re just a number!! Save yourselves.
The Market place. Give us all a break. It’s an excuse to say it’s another bad year.
Who got us there? The person with the golden parachute 🪂
@bd I bet the poster would rather have improper grammar and 6 months of savings then excuses of why they can't do it.
@at please do enlighten me how anyone can afford to have even 3 months of savings, let alone 6?
The majority of employees aren't even making over $75k. Cost of living keeps rising so there isn't any cutting in spending unless you plan to stop eating or paying your bills.
(also not for nothing but... they're / there / their. If you're going to lecture people, do it correctly)
for anyone that actually works for a living all day, i did not have time to listen to the fireside chat. what exactly is everyone talking about?
@at Have you ever heard of the times when people are told to stand up in a line and look to your right and left and know that only one of the three of you will be standing in the line by the end. Be grateful that you maybe the one standing and/or get prepared to get knocked over.
@am Too many people are bi--hing that they aren't getting what they think they are deserved.. but the truth of the marketplace will correct this logic when they are forced to go job hunting because they are laid off for reasons they can't control. In addition I bet not many of these same people are doing common sense things like building up 6-9-12 months of savings and reducing there spending in the good times to prepare for the bad times that are about to come.
The reality is the company is going broke and will fire chapter 11 within 18-24 months are people are bi--hing about pay while 40-50% of the staff around them will probably be gone within the next 24 months.
Merit? There aren’t merit raises. Don’t any of you attend the word salad earnings calls?
@a5 There are plenty of people here doing "what they're told" and then going above and beyond that. So get off of your high horse and walk up the hill to the F Off sign and then keep going.
If merit raises are really what you care about go brush up your LinkedIn and Resume and go see what the job market thinks your really worth.. not corporate world giving you a raise to shut you up. You deserve the pay that you bring to the table not just an increase because you sat in a chair and what you were told.
Rewards are You have the opportunity to work harder roles and learn about safety at work.
Madness 😠
@OP I agree. What motivation is there to learn? It’s insane. I was thumped by her comments. Also when SB said he is setting up the company for the future I nearly threw up.