Well give week dont quit.5/3/2023 ![]() ![]() However, if it's not the case and the company believes that their compensation is in line with the market, then your observation indicates that this belief might be mistaken and needs to be verified, possibly resulting in changes to the compensation policy. This may be an intentional strategic choice - it has its drawbacks and its advantages, perhaps it's what top management has explicitly chosen to do - in which case a somewhat higher turnover and the symptoms that you describe would be a completely expected result. So this is an indication that your company may be systematically paying lower than the prevailing market rate. But since all of them seem to be leaving, then it means that other companies are telling them something else. If the employee was bluffing or mistaken about their market value, then other companies would tell them the exact same thing and they would not leave. Thing is, if an employee says "Hey, actually I'm worth $x, I expect a raise" and the company responds "No, that's not an appropriate salary for what you're doing" then one of them is either lying or mistaken. the new, higher compensation is according to market rate for someone with their abilities and performance - this has nothing to do with what the company "can afford") and denying raises for people who don't, then most of the people who are denied raises would not be able to quickly find a job where they can get what they desire, and you'd see that only in cases when the company made a mistake in evaluating a person, not most of the time. If your company was approving raises for people who deserve it (i.e. The key conclusion from your observation "about 2 months after someone asks for a promotion or raise and does not get it, they are out the door." is that apparently the same people could get that promotion or raise in other companies that you're seeing in practice that in general, "the market" is offering these people better conditions than your company was willing to do. I started looking for a new job immediately. I let that go on for over a year before I asked to be promoted to an appropriate role with an appropriate salary, and was told after weeks of back and forth and arguing with management that the best they could do was a 10% raise. I had started in a very entry level role and slowly picked up slack as members of our team left, until I was handling the workload of 2 full-time developers on the salary of less than half a developer. They're feeling exploited and possibly ashamed that they let themselves be used like that, and they're looking to move to somewhere where they'll be appreciated and where they can make a fresh start.Īll of these people are looking for a new job immediately once the talk happens - 2 months is just the time it takes them to find a new role.Īnecdotally, I was somewhere between person #3 and #4 when I left my first job. ![]() You've told person #4 that they definitely were being taken advantage of and you don't care. They now feel they've wasted their time going above and beyond and feel an animosity towards your business, and are looking to move to somewhere where they'll be appreciated. You've told person #3 that their extra effort isn't appreciated to the extent they expect. They're now looking to move to somewhere that can support them. You've told person #2 that you can't meet their needs. They're now looking to move to somewhere with more possibilities. ![]() You've told person #1 that they aren't going to be able to advance at the rate they want in their current position. When any of these people come to you and ask for a raise, and you turn them down, they're immediately looking for the exit because you aren't meeting what they need from their employer: There's often overlap between these reasons as well. People who have been taken advantage of for a long time and have hit their breaking point People who feel they're owed the promotion/raise, due to exceeding expectations or taking on new work People who need a raise to meet new obligations in their life (house payments, children) People who are looking to rise through the ranks/income brackets quickly and want the next step Generally you have four types of people who will come to you and actively ask for a promotion/raise: People who are content with their job aren't going to ask you for a promotion - it might come up in their performance review, and they won't turn it down, but if they're happy where they are they're already happy.
0 Comments
Leave a Reply. |