This is a true story: A friend of mine who works for a large financial services firm (not a client of mine!) was given a long overdue pay rise this month. He was promised this pay rise over 6 months ago when he took up a different position within the company.
The sad thing was - when he accounted for inflation, the pay rise was actually a pay decrease.
Bearing in mind this is a financial services firm, and he is a business analyst versed in all matters financial, this situation begs the following questions:
- Did the employer actually for one second imagined that no employee would work out this fact?
- Does anyone in payroll or HR actually know what they are doing?
- Do they care?
The answer to the last one is obviously no, as this company has very high staff churn. Of course, as one would expect, management has been harping on about how important it is to retain staff...