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I am not sure there are true loyalty anymore. I think those that have stayed at one company for a long time is because it’s mutual beneficial, once that balance shifts, then it’s fair games. At least that’s the case for me, only worked at 2 companies in the last 27 years. It’s not because I am so loyal, it’s because I make my boss look good and I think I am fairly compensated, I have no doubt that if something happens and it no longer beneficial for both sides, that “loyalty” will be out the window.
I thought I’d work out where I am but I’ve taken on additional responsibilities with a view to taking over the operational side of our business after discussions with my exec….& been doing the new role in addition to current responsibilities because it was a growth option I was happy to take on.
Review time came end of year & put forward a proposal for a role rename & remuneration change which was not even read. So this 5/5 superstar is on the look for a change. I’ll take my time & make sure it’s where I want to land, but it is disappointing. I know they’ll be shocked when I leave & whilst everyone is replaceable, it’s tricky to handover 10 years of company knowledge in 4 weeks.
Loyalty can cost you
Not until it's proven to be at your company. If you wind up at a place that actually rewards it through promotions and meaningful raises (i.e. not the same 2.5% every year), stick around. Otherwise, leave as soon as you find something that pays better. Most employers have zero loyalty to their employees. You shoud be treating them the same way by default.
I don't even get 2.5% every year :( But yes, I agree with the principal, unless something is keeping you, move on if there is a better opportunity
Not any more to be honest - hitting that wall myself
Its such a shame!
Pro
A lot of times, at least from what I’ve seen (me included), people don’t stay because of loyalty so much as familiarity. It’s comfortable, known, and moving feels like a lot of effort and risk. Sometimes that works out, sometimes it just leads to people being stuck longer than they should be.
Yeah, a lot of people fear the unknown / change, and others thrive off it! I am more of a stick with what I know type of person, but I think it does not help me when it comes to salary!
I think this is a case by case basis. Typically the larger the company and more established it is, the less loyalty pays off. If it’s a newer company and you have room for promotion or ownership as it grows, or if you work for a small company who actually values your work, then loyalty can pay off as they will actively incentivize you to stay.
No doubt. I really think it’s a case by case scenario and what I was saying is more generalizations. Unfortunately companies who have shareholders value those far above most employees. Generally loyalty doesn’t pay off, unless you hit the jackpot with the perfect opportunity.
I think it depends on a lot of factors. For the most part, I think staying long term hurts progression.
I think that that depends on what area a person works in, but I am in the same boat with you every time you find a really good job and you’re making good money. New management comes in. They move the jobs overseas and they just start chipping away at you they expected to do more work for less money. I’ve been so stressed out since December I swear I think I got an ulcer from just about to lose my mind basically got a $40,000 pay cut in December but we’re supposed to be OK with that because they would rather pay a group of people in the Philippines who don’t even talk clear English
No! Without pensions, what is the incentive? Unless you're getting great raises and/or bonuses, loyalty is not necessary. Loyalty has to be a 2 way street.