Inflation is running near 6percent by the government’s own numbers. Interest rates about to skyrocket to 7percent or higher based on history. Are you expecting a 6 percent raise?
Show me the money.
This is what will drive the turnover. People can’t afford to stay in times like this. Plan your raises well management. 2percent isn’t going to cut it. I will be paying more than that just to start driving again.
Inflation is a measure of currency in circulation ( aka money supply) and for sure they have inflated the world economies. The US alone inflated by 20 percent since 2019 .
Prices action follows as we are seeing play out. Quite the pickle they are now facing. The only option they have is to push inflation to the extreme so that their massive government debt is valued in cheapened currency. We are screwed no matter what.
Agree that you cannot keep up with inflation when staying in same job. Move every two years.
You need to learn what inflation is, vs rising prices due to free market action…
@1odj Yep and it looks more and more like Carter and Biden are peas in a pod.
Getting fired for no vax or having to wear a mask or all the other covid based issues will seem insignificant compared to going to the grocery store and the shelves are bare. If you can find something to buy you'll need a wheelbarrow full of money to buy it.
Think Venezuela type economy.
Proven fact that the best way to get a pay raise is to find a new job elsewhere! When I was hired at Honeywell I received an $18,000 a year pay raise. Not going to see that here for sure...lol!
Anyone remember the Carter administration?
Double digit inflation and unemployment. Plus the fed discount rate was 10% to 12% and market interest rates were as high as 22%. I had an 18% mortgage. Gas was $5.00/gal.
Their fix was a mandate telling employers to NOT raise wages in order to slow inflation.
If I remember correctly they called it "holding the line on wage increases".
Don't hold your breath for a raise close to the increase in the cost of living.
I am looking around for the same reason. Step one is to make myself indispensable on my current fpga design work. Step two is to move on to a six month gig as my current project hits it's bathtub.. Then I come back as a contractor with rates that adjust every purchase order. Can't wait to use all the training I've been given at my next gig down the street.
The problem is honeywell and it's inability to give a raise.
They will force us to change jobs to stay solvent.
Uhm so where are you going that is not affected by inflation exactly? Interest rates are historically low I mean wtf are you on about.