Just wondering
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I thought anything above 2% would be decent this year. So when I got 3% I thought guy I was above average. Could just be a HR mind game though.
I do not have all the “facts“ that the person who left the very lengthy post from yesterday claims to have. If it were not for the fact that I have been told that raises will be stellar this year, I would question the long post the accuracy of the information contained in it. I don’t know, but I think It is a stretch to link one’s raise to his/her performance, based solely on the percentage value of the raise.
So you are saying a 3% raise indicates a 4 ranking?
Actually the raises should be in the 7-1/2% to 9% range, for 1&2 level performers. Bottom to top, 4s will get 0%-3%, 3s will get e% to 6% and so on (your raise will, essentially, tell you how you were rat this year). There was a onetime charge in earnings last quarter due to the adverse UK tax ruling. Without that, MRO would’ve had a pretty good quarter, the new USA tax law holds various benefits for MRO, etc. in an EXCOM meeting Lee said that he wanted “at least 40%” of the anticipated tax benefit, PLUS increased earnings due to better commodity prices, to go to employees to build esprit de corps. He specifically noted that, due to the “apparent” randomness of the layoffs since 2015, more money in the pockets of employees would improve moral.
Interestingly, he mentioned to this rather larger than normal audience that the layoffs were designed to bring the cost structure down, mainly by lowering the wages from upper middle management down, accomplished by “lowering the tenure” of the organization (and the attendant salary structure inherent in an older workforce.) In crude form, the meaning was that MRO dodged a bullet in that it was able to get rid of the higher salaries commanded by the older folks and did not get hit with lawsuits for old age discrimination. He mentioned that most of the former employees were happy to get out, but not because they no longer wanted to work but, instead, he said he recently realized, because morale was so low.
To Lee’s credit, he has insisted on “top quartile wage growth at MRO for the next two wage cycles.”
No changes. Still 33%
In the past The restricted shares vest 33% per year. That has changed?
Sick 2% raise!!!! What a joke, as is the LTIP. Here's some stock you can't even begin to touch for 3 years s---er! After 3 only a portion of it vests. Cheap bastards, just give us better raises. You've already jacked up the cost and stripped down the health plans enough we're making less than we were 3 years ago when they froze salaries. But here's a 2% raise to show you how much you're appreciated.
Doubt we’ll see much of any. Another year of losing.