rant about corporate greed

[TXlib]

When I joined my company 18 months ago, their compensation plan was simple and generous... if the company met or exceeded its financial goals, your bonus was up to 100% of your base salary, and was averaging about 75% over the past several years.

Everybody, from the president to the janitor, got the same percentage of their salary as bonus. If your base was $20,000, and they decided to pay out a bonus of 50%, you got $10,000; if your base was $100,000, you got $50,000. By at least one objective standard, this scheme is fair.

We went fully corporate last year, and no longer were fully in control of our own policies, subservient to the larger corporation.

Despite being profitable, no bonus was paid because Corporate was upset at a large loss taken early in the year that was the result of senior management bungling -- the worker bees had done their jobs well, though.

Now, there's a new bonus structure - there's a large "shared pool" that everybody gets the same percentage from, adjusted for personal merit, and an executive pool, which senior management only drinks from.

To the extent that bonuses are withheld from the shared pool, the executive pool grows.

Anybody else see a conflict of interest here?!

Guess who's getting fucked in the ass AGAIN by senior management?

I can't see any objective point of view by which this scam, ah, I mean scheme, is fair.

Senior management has already joked about how the bad economy is keeping people at their jobs, and preventing them from bailing, just because they're happy to HAVE a job.

There is, in other words, little incentive for senior management to be fair about granting bonuses to rank and file employees.

:grr: :mad:

[commander bunnypants]

1. I work in a non-profit

so I dont even know what a bonus is.

But the new x.o. just got a personal toilet. Your tax dollars at work


DDQM

[denverbill]

2. It's getting pathetic, IMO.

My small company is owned by a conglomerate. We hired an 'outside consultant' to assess our benefit plan, and that consultant determined that our benefits package was too generous, so they cut our life insurance from 1 1/2 times annual salary to 1 times annual salary.

No mention of the need to do this because of hard times. Nothing like that. They just decided they were too generous.

Oh, and bonuses? Ours is 1% of our salary, if we meet our goals:eyes:.

My coworkers call it the 'happy meal' bonus.

[veganwitch]

3. i work at one of the largest most profitable law firms in dc and...

last years "raises" for support staff didnt even cover inflation.

[GOPisEvil]

4. I work in State Government. Our raise was zero.

Combined with more expensive health care, we took a pay cut. It ain't just the corporate world that is getting jammed.

Edit - our legislature meets every two years, and fiscal years start Sep. 1, so it will be Sep. 2005 before any more pay raises (assuming one is authorized by the legislature).