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New to gds. is today salary day? Or tomorrow?
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Bowl Leader
Anyone heard of Novantas? Thoughts?
Anyone still missing nights/stays?
Who’s still missing nights? 🙋🏻♂️
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enough with the fight..lets get back to GOT peeps
Anyone heard of Novantas? Thoughts?
Non-Fiction book recommendations please?
Any PWC Advisory FB's in Prague?
What are my NYC 🐬 up to tonight????
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Yes it’s always more expensive to hite
Pro
I will say I’m pleased our leadership opted against layoffs.
Agreed, Scott held true to his word.
Yes. Firms made bad business decisions at the time. Granted, who knew the economy would pick up this quickly last year... hopefully upper management learned from this experience
Sure, because they really learned their lesson after 2008.
So far in my consulting career I’ve survived something like 4-5 different rounds of layoffs, starting back in 2008. Every single time, without fail, within 6 months after the reorg my firm/practice has been very short-staffed and desperate to hire just about anyone. I’ve come to realize through all of this that senior leadership at firms like ours aren’t capable of seeing farther into the future than approximately one inch past the tip of their nose.
Rising Star
Lol. Dude has no clue what I’m about but apparently I’m the evil empire.
It’s so clear why you got bounced. Good riddance and sorry to whichever firm picked you up. I’m sure you’ll last a whopping 12 months there.
This assumes that companies aren’t hiring better talent. With KPMG, we laid some people off but it was generally low performers or industries that haven’t come roaring back (hospitality). I don’t think it is necessarily all negative.
Rising Star
They were bad performers by someone’s measure - they didn’t just throw darts at a wall to decide who got cut. I guess my thought is if you’re even in the vicinity of the bottom 5 or 10 percent, even by relatively subjective measures, then you’re not exactly knocking it out of the park and if you get caught up in a layoff, then that’s on you. It’s not a super high bar to avoid that outcome.
Rising Star
We laid off the bottom 5% via performance process, so notwithstanding the occasional outlier who got caught up and shouldn’t have, most of it was dead weight that was beneficial and those folks are being replaced with fresh talent. Seems like a net positive.
BCG decreased b-school support? That’s surprising. My firm encouraged ppl to go to school if they were on the fence about it so they wouldn’t be on payroll, since school is cheaper than salary 😜
Another issue IMO was not paying out bonuses or raises. Worked more hours than ever at a high level only for our firm to not compensate that.
Rising Star
What firms did layoffs?
Rising Star
Every single Fortune 500 company. At the start of the pandemic, there was a lot of instability
All of the above, except for PwC
Definitely a surge in hiring and competition right now. We doubled our hiring Referral bonus. And we had no layoffs. Crazy growth all around.
What is the amount of the bonus?
Pro
Any meaningful relationship is a two way street. It doesn’t apply to modern day employer, employee relationship. Employers are thinking how to pay you less .It is diminishing middle class in America .
The layoffs were key to the FY which drives unit value....anytime your confused about firm behavior, just ask what’s the impact on unit value