5% of $55,000 seems like a lot harder hit to a bottom level front-line employee than 5% of 600,000 for the CEO.
What bothers me more is the vacation/PTO day policy.
When the economy picks up, will they go back to the old way of earning/taking vacation/PTO days?
I doubt it.
I can understand times are tough. But, (not seeing the video yet) was there any mention of giving these things back?
If economy picks up, in a year, 6 months, 18 months, whenever, will they then say, "Here's your %5 back, and then here's this year's _% raise on top of that?"
I doubt that too.
In a sense, this is like the government and taxes. Have you ever known of a tax that the government rescinded?
"We need to raise a sales tax to build a courthouse."
O.K., but then when the courthouse is built and paid for, funny there's no mention of taking that tax back off the books.
Same thing here. I'd bet you $20 that the economy could rebound before Halloween and we never get that 5% back. Any more raises will start right where everyone is as of April 16.
I'm sure that people aren't going to quit in droves today, after all, where can they go?
But, I'm sure the number of people looking for a job increases dramatically tonight.
And, seriously, can no one at CGO see irony of repeatedly telling us things are bad (which most of us know), we must save at every opportunity, we must band together as a team and weather this storm; all the while cranking out new posters, videos & books? That stuff costs money, and I don't need a motivational poster to make me work harder.
I need a corporate leadership that practices what it preaches and sets an examples for others to follow throughout the organization.
If I saw a memo announcing all spending on frivolous crap is at an end, that would impress me more than the executives taking a 5% pay cut. After all, as I said, for many of us, 5% to them is more than we make all year.