Who's getting an inflation based pay rise?
Discussion
My client co's business has been massively affected by the global semi-conductor shortage, resulting in reduced production in their plants all over the world. That has led to shortage of supply in the face of continuing strong demand, so critically they have stopped discounting any products, you pay the sticker price or somebody else will.
This has led to reduced revenues but record profits, the margin has never been stronger. We've stopped flogging stuff on the cheap to secure market share.
Consequently it was all rather tricky for the CEO to stand there and say "due to all these geopolitical factors that are completely out of our control and causing inflation, we've actually had our best ever year in terms of profit. But you lot can't have any". Hence the inflation matching pay rise.
Funny old world, the global economy!
This has led to reduced revenues but record profits, the margin has never been stronger. We've stopped flogging stuff on the cheap to secure market share.
Consequently it was all rather tricky for the CEO to stand there and say "due to all these geopolitical factors that are completely out of our control and causing inflation, we've actually had our best ever year in terms of profit. But you lot can't have any". Hence the inflation matching pay rise.
Funny old world, the global economy!
My company gave 5% to everyone in July and back dated that to April + a £500 cost of living payment (taxed) in November's payroll.
I got 10% as had a couple of job offers for more than i currently get paid post pay rise but I decided to stay because my role is 100% wfh and the new roles were not.
My wife is a specialist nurse and has been the top of her pay band for almost a decade so with the increase in pension contributions she ended up with something like 30 quid in her net pay. She also completed another MSC in that year too (Diploma + 2x BSC + 2x MSC in total). I did tell her not to bother and enjoy her personal time instead but she thinks she needs the extra qualificaions for job security.
I got 10% as had a couple of job offers for more than i currently get paid post pay rise but I decided to stay because my role is 100% wfh and the new roles were not.
My wife is a specialist nurse and has been the top of her pay band for almost a decade so with the increase in pension contributions she ended up with something like 30 quid in her net pay. She also completed another MSC in that year too (Diploma + 2x BSC + 2x MSC in total). I did tell her not to bother and enjoy her personal time instead but she thinks she needs the extra qualificaions for job security.
Interesting responses. Seems like most are getting something.
What I find particularly annoying about no payrise at all at my place is that as a business they have put up all their fees for their services due to inflation, yet as a software Co. I would think one of, if not their No.1 cost is people (devs/consultants etc). If you don't pay people any more that's a nice slice extra for the shareholders.
What I find particularly annoying about no payrise at all at my place is that as a business they have put up all their fees for their services due to inflation, yet as a software Co. I would think one of, if not their No.1 cost is people (devs/consultants etc). If you don't pay people any more that's a nice slice extra for the shareholders.
Edited by Kiwi79 on Thursday 15th December 19:06
lizardbrain said:
What’s the idea behind that?
The WhatsApp group? Management like to be able to share operational updates instantly with all driving staff. Diversions, RTAs etc. We've always had a group, but not everyone wanted to be included (who cares if the A15 is closed when I'm in the pub on a Friday night etc). So to increase uptake, management made an enhanced rate payable to those that joined the group. Everyone is in it, so I guess it worked.
105.4 said:
What is this “pay rise” thing that you speak of?
I’ve been working for 31 years. During that time, at no company I’ve ever worked for has there ever been pay rises for the rank and file, irrespective of company profits.
At the firm I’m currently with, there hasn’t been any pay increases or bonuses paid to middle management for over ten years.
Really? That’s appalling.I’ve been working for 31 years. During that time, at no company I’ve ever worked for has there ever been pay rises for the rank and file, irrespective of company profits.
At the firm I’m currently with, there hasn’t been any pay increases or bonuses paid to middle management for over ten years.
What do you do?
ettore said:
105.4 said:
What is this “pay rise” thing that you speak of?
I’ve been working for 31 years. During that time, at no company I’ve ever worked for has there ever been pay rises for the rank and file, irrespective of company profits.
At the firm I’m currently with, there hasn’t been any pay increases or bonuses paid to middle management for over ten years.
Really? That’s appalling.I’ve been working for 31 years. During that time, at no company I’ve ever worked for has there ever been pay rises for the rank and file, irrespective of company profits.
At the firm I’m currently with, there hasn’t been any pay increases or bonuses paid to middle management for over ten years.
What do you do?
I would expect a lot of people positing on here are in fairly lofty positions, so there will be a few in very low end jobs who do not see regular pay rises.
s it happens we had about 3.5% but also earlier in the year a 20% one off bonus on your whole salary!, Something I have never experienced before
s it happens we had about 3.5% but also earlier in the year a 20% one off bonus on your whole salary!, Something I have never experienced before
I have an RPI increase included in my contract terms (done when RPI was low rather than a shrewd move). Start of December was the review date. I probably won't take it (sole director of Employee-Owned company).
Workers been more like 5% and even that has been tough for a small business. Tax-Free bonuses for operational staff up to £3k (~10%) which is the highest so far for us (£3600 cap on tax-free element) and has helped keep the peace.
Only had one lad threaten to quit over more money. He took what would have been his bonus added to his wage (bonuses end of calendar year, he asked in the spring).
Workers been more like 5% and even that has been tough for a small business. Tax-Free bonuses for operational staff up to £3k (~10%) which is the highest so far for us (£3600 cap on tax-free element) and has helped keep the peace.
Only had one lad threaten to quit over more money. He took what would have been his bonus added to his wage (bonuses end of calendar year, he asked in the spring).
Edited by 22 on Friday 16th December 11:15
Anyone else here have a small commercial property surveying company? So how is it going for you? Thought so! Pay rises? WTF is that? More like living off savings from better times! Agency has gone to pot. That's where the jam is. Nothing significant for three years really. Perhaps a strengthening of the £ will help next year but it's currently all up in the air and guesswork.
JM
JM
We're getting 6% but more importantly to me, an extra 2 days holiday per year. In the 18 years I've been here, they've never done anything like that before. They're really becoming a more flexible employer these days. Full flexi time which means I can take an extra 2 days per month if I put the time in, I can clock in and out when I want as long as I do my hours and the extra days is a real welcome bonus.
The last three years my bonus has paid out 185% and I'm hopeful of 200% in March. All of that plus full time WFH means that I've never had a better work life balance and decent rewards to match.
The last three years my bonus has paid out 185% and I'm hopeful of 200% in March. All of that plus full time WFH means that I've never had a better work life balance and decent rewards to match.
We had our personal mileage deductions frozen when petrol prices jumped received a £200 immediate emergency cost of living payment and are receiving 4 x £200 quarterly payments to cover the cost of living crisis.
I thought this was generous until we were told that this payment meant we were covered for inflation and, as such, we would receive no pay-rise this year.
The payment amounts to the low 2s as a percentage of my salary after overtime.
I thought this was generous until we were told that this payment meant we were covered for inflation and, as such, we would receive no pay-rise this year.
The payment amounts to the low 2s as a percentage of my salary after overtime.
SteveStrange said:
5%. And I got a call from a director telling me that I was the exception, none of the rest of the team were getting anything like that, and I shouldn't broadcast it. I was both pleased and annoyed at the same time.
Don't worry, they told all other employees the same to make you all feel special.Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff