The rumor that has been circulating for weeks was officially confirmed today. I just met with our VP, who shared that all business units will receive a 10–15% salary increase, contingent on year-end performance ratings above ‘Meets Expectations.’ For those who met expectations, the increase will be 10%, while individuals who exceeded expectations can expect a 15% adjustment. This initiative is being driven by our new CEO, M. Lyons. It’s encouraging to see this level of investment in employees—undoubtedly some of the best news we’ve had in the past five years.
15 replies (most recent on top)
My review only spoke to badge swipes and RTO. Sc--w that
Even if this was true, my local management was told that no one can be rated "Exceeds", which is kind of sneaky. Why even bother doing performance reviews if you can't be reviewed honestly?
I love how these trolls keep spouting off "I met with our VP" without disclosing business unit and department. We have hundreds of VPs, so this news is bullsh-t.
Stack rankings means that the vast majority will get 10%. Not that this is real.
Fake news, people.
@a7+1jkx97qef Merit should be based on individual contribution to make the org better or bring higher quality. Are Frank and Mr Lyins Karl Marx Lovers, WTF?
@a9+1jkx97qef Theres no performance reviews yet so YOU are the Fake News!
Finally we can be closer to barely affording then ridiculous cost of living in the offices at NJ, with 16-20% auto insurance increase, 10% rent increase, 200% eggs increase, gas increase, etc!!! I guess someone might have a soul in higher up level after all.
Even cash bonus i was told to return if I quit. Insane!
Having an exceeds expectations in my performance review, I still got no salary raise and a very minimal incentive.
This is the epitome of fake news
Alright, I will take a bite. Many business units "did not meet revenue targets" and had incentive compensation adjusted down to 82-85% payout. But sure, maybe some business units will do merit based increases above 3%. Now I have heard nothing on merit yet and I would have for my business unit.
So, which business unit are you hearing this fictional news in?
Man, this is just a bad joke. It was attempted as a comment in another thread recently.
Everything I'm told is that bonuses are going down for many groups in the mid to high double digits as punishment from frank. But then you say you're being told we're getting a double digit raise, that is a FAR higher dollar amount than the bonuses, and it's being done by the new president, despite the CEO and Chairman of the Board not likely being remotely behind this?
It's not funny, and it's not even a good troll post.
When would the raises go into affect?
Thanks Mr. Lyons
Our director has confirmed this as well