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I joined KGS in feb 2022, we recently got a mail regarding timeline of appraisal and bonus payout from the partner. My reporting manager hasn't yet reached out to me regarding goal setting, not sure if that happens here. Can you pls help me to know what all things we need to do from our end for the appraisal cycle and bonus payout? Since I'm new to this company KPMG KPMG India
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I've never really though about this exact scenario. Generally speaking, I think salary transparency improves employees' lives and the overall workplace culture. Knowing how much each role should be making it makes it so much easier to negotiate and advocate for raises. It also helps to know when it's time to move on - if the new hire comes in at 20% above my salary and my raise is only 3%, it's time for me to start filling out applications.
Honestly, I never thought about that. I don't tend to look at my company's open listings in order to see that a new person could be making more than me. That being said, if I did see it, I would probably be pretty unhappy. One time I found out that a new coworker, freshly out of college, was making the exact same amount as me, someone who had been working there for 5 years and supposedly gotten "raises" each year. It honestly made me feel resentful against the company because I felt like, what's the point of staying and being loyal if I could start day one at the exact same rate? So I guess I could understand how that would damage workplace culture.
As a job-seeker seeing the job ranges are very helpful, but most employees don't check their companies job postings! Why would they? But if I found out a new hire with less experience than me was making near the top of the band, while I was still stuck near the bottom after years in the same role. I wouldn't like that. I would feel undervalued for sure.
That specific scenario obviously isn’t going to make anyone feel great out there unfortunately happens kind of a lot where I am. Just word of mouth though as we don’t have much salary transparency. The through the grapevine gossip is probably worse and causes miscommunications, at least with that you’ll know for a fact.
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It hurts as we see how underpaid we are but it is still good to be aware of.