.....because no-one gets a pay rise...
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If the reality is that the value of IT work has fallen, then fine — say that clearly.
But it’s hard to reconcile that with the decision to bring in new staff at premium rates. Since terms have been standardised, the only real distinction left is length of service affecting severance — so why does such a disparity exist?
If you address that inconsistency, you might start to see a different attitude from staff.