I work in the technology department at a large European bank. This year, the company made the “best” decision for itself. The plan was to reduce salary increases to 0% for technical employees in many countries.
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They told us that they fully accepted this decision and showed they didn't care about the high performers and the invisible people by just doing their job. There was no distinction between employees.
This results in a loss of motivation, performance, and innovation. But more than anything it shows they don't care about people.
Plus, it brought us back to the office three out of five days a week. 😡
One of the arguments the bank put on the table was that it had frozen hiring and that hiring for technical roles was no longer as difficult as it used to be. It is true that the number of employees is stagnant. But the inflation rate has been over 25% in recent years…why would they bother compensating us for that? 🙄
At least in my country, people avoid working in this bank. However, only time will tell whether this was a good decision on their part.
Does anyone in the tech industry feel disrespected by a pay increase (or lack thereof)? Let us know in the comments.
Marco Grayson is a pen name.
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