Chief
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Hi folks,
Can anyone confirm the variable policy of TechM, is it monthly or quarterly.
Heard from few folks that its was changed to quarterly and in offer letter nowhere its mentioned that its monthly or quarterly.simply said applicable as per variable policy.
Any folks recently joined and received salary please confirm it.
Thank you
Tech Mahindra
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Fidelity Investments I joined FIL on 08th August 2022 and hence was eligible for appraisal but even after a good feedback, I was told that there is no increment in salary as well as bonus because of "Too Soon To Decide" rating. And this is being followed not just in our team but in whole FIL. This is the first time I am hearing such kind of thing and didn't found any thing like this on "HR Hub". So, if anyone of you know about this or have received similar gyan from Manager, please share your experience. Fidelity In
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Raise? What is it? Is it food?
So if I give nobody raises and only one in four leave, I'm ahead? That's great. Don't think it's the point you were trying to make, but still great.
FYI your math is bad: the cost to replace is a one off rather than a yearly salary cost. Not saying people shouldn't get raises, but you should also understand how your business works.
Attrition is a winning strategy.
Chief
Thank you for pointing out the difference between a one-time cost and a recurring cost @Consultant1, I don’t know what we’d do without you.
Snark aside, you only come out on top financially if you hire cheaper, usually inferior, talent to backfill that job. And that doesn’t even take into effect the impact on employees adjacent to those that leave - they also have a higher rate of attrition from the increased workload, which means more wasted money on more new hires.
In my humble opinion, withholding raises on a large scale is a cheap fix that backfires in the long run (my wife is a consultant, I’ve seen the numbers). It’s bad management.
Agencies: delivering slightly less than promised to employees and clients alike since 1869!
Funny, true story. I ran a department where they’d hired a mid level cw and she started about the same time I did. Maybe just before. Anyway, it was clear that she had the goods. Super smart. Super creative. Super strategic. So I just kept giving her more responsibility and she kept outperforming expectations. I literally promoted her and bonuses her as much as I possible could under the rules and guides of the holding co network agency where we were. Within 2-3 years she’s the CD on our biggest account. Just killing it. And because of all the limits they placed on raises and bonuses—she was only making like 100g a year. As CD on our biggest account, overseeing a team of like 8-10. It was totally bogus. I fought like hell to get her what I could. I mean like conference calls and a million forms to get her some $. The agency was big on lip service for female leadership and D&I. I kept bringing up all the pr releases and Cannes round tables they hosted about empowering women, and I finally got her an extra 30 grand a year. She was still underpaid in my opinion but I fought for it and got her everything I could. Moral of the story? Less than a year later they laid her off with a bunch of other people because our profitability numbers were off. And I was let go in the next round of layoffs. Agencies are the worst. All of them. If you ever trust them further than you can throw them, you’re a fool.
Why bother replacing them when you can just give their work to the guy sitting next to them?
TEN percent? Where do you work, Narnia?
And 70% of statistics influence 46% of decisions—62% of people know that!
Math is hard.
They're well aware, but it doesn't really cost them anything tangible. That cost will be a slightly worse product of indeterminate blame, and a few more hours they wage thieve from the team to train them/pick up the slack.
Conversely, that raise is a real cost to their P&L, it probably impacts some key metrics around their own performance, or even a bonus.
Companies are just groupings of people acting in their own interests, under various constraints that generally align that self interest with the company.
33% or MORE depending on if you use a headhunter, if you hire cheaper you might get worse talent, etc.