Last Year's Hour Reduction and Pay Freeze: Who has returned to normal?
fayme
5 Posts
After the financial meltdown in 2008, our company was not doing well, and as a result we laid some people off, cut hours of many employees (mine included), reduced exempt pay by 5% across the board and stopped giving increases to hourly employees. At the same time, the owner became disinterested in giving performance appraisals since there was no compensation associated with it, so nobody has been evaluated since. The company is doing much better now, having just experienced 3 record months in a row. Our workforce is saying: "Great, now when do things return to normal?" However, the owner doesn't seem to have much appetite for it. I have tried to convince him that we will start losing big chunks of our extremely skilled workforce to no avail. I am just wondering: who out there did something similar in late '08/early '09 and are you back to normal yet?
Comments
After some layoffs and pay reductions in late 2008, we are back to normal (as of Feb 1) and have just begun pay increases (eefective June 1).