mcjeff215 Posted May 29, 2009 Posted May 29, 2009 Hey gang... quick question... So, over the past year, the company I work for has decimated our benefits. I pay over $200 every two weeks for myself and my family. No out of network, cut our FSA from 5k to 1k, big deductible, always increasing co-pay. We've dropped POS & HMO and just have some stripped down PPO option now. They're talking about doing away with that next year altogether and just offering a pair of minimal plans. We just sat through a meeting where they told us we're using our benefits too much and have to call nurses first, exercise more (they pulled gym memberships 6 months ago without telling us... we just got bills from the gym, or worse yet, were denied entrance), put off going to the doctor when self service routes are available. They're blaming all of this on the "state of the economy." Sure. But the catch is? We posted a record profit last quarter and beat guidance. This whole thing sounds kind of, well, crappy to me. They're telling us they're trying to keep our benefits competitive with the industry. Now, my question. *Is* this due to the economy? Are all of you experiencing the same problem? I'm a college educated computer engineer with 10 years of experience. This doesn't sound like it's par for the course? Is it? My gut tells me they're using the economy as an excuse.
el Tigre Posted May 29, 2009 Posted May 29, 2009 It's going on everywhere. These companys are using the state of the economy as an excuse to screw their workers. Even if you're company is doing fine,they figure the job market is so tight you'll just put up with it. And in most cases,unfortunately,they're right.
mcjeff215 Posted May 29, 2009 Author Posted May 29, 2009 It's going on everywhere. These companys are using the state of the economy as an excuse to screw their workers. Even if you're company is doing fine,they figure the job market is so tight you'll just put up with it. And in most cases,unfortunately,they're right. I really go out of my way to avoid the "they're just trying to screw us" argument. In my head, it's more of a question of value. At the end of the day, which decision is monetarily correct for shareholders? That's what they're paid to decide. Does it make more sense to squeeze at the benefits level? Or, does the "happy employees are more productive, therefore..." argument hold more water? In this scenario, it seems the decision has been made. It's just to say that we've made a record profit, and then to continue to decimate benefits? Doesn't that effectively say that the workforce isn't going to reap the rewards of a successful organization? As they're blaming the cuts on the economy, I was curious as to whether anyone else is running into the same problem. Cut "because of", but successful "in spite of." Seems that both sides of the mouth are saying different things.
DrDawkinstein Posted May 29, 2009 Posted May 29, 2009 we've felt the squeeze ourselves Jeff. we took a BIG paycut back in February which was supposed to be for only 90 days. well, we're still on it. Things have started to turn upwards, but we're not stable enough to reinstate full pay. That being said, we did NOT set record profits last quarter either. Not sure if your company is just using the economy as an excuse or what.
mcjeff215 Posted May 29, 2009 Author Posted May 29, 2009 we've felt the squeeze ourselves Jeff. we took a BIG paycut back in February which was supposed to be for only 90 days. well, we're still on it. Things have started to turn upwards, but we're not stable enough to reinstate full pay. That being said, we did NOT set record profits last quarter either. Not sure if your company is just using the economy as an excuse or what. Sorry to hear that... The profitability thing is what bothers me. Not only are we profitable, we're buying other companies, paying executive bonuses and raises (30% or so per), and opening a new building. We're not even close to the red. We're actively and aggressively growing.
el Tigre Posted May 29, 2009 Posted May 29, 2009 I really go out of my way to avoid the "they're just trying to screw us" argument. In my head, it's more of a question of value. At the end of the day, which decision is monetarily correct for shareholders? That's what they're paid to decide. Does it make more sense to squeeze at the benefits level? Or, does the "happy employees are more productive, therefore..." argument hold more water? In this scenario, it seems the decision has been made. It's just to say that we've made a record profit, and then to continue to decimate benefits? Doesn't that effectively say that the workforce isn't going to reap the rewards of a successful organization? As they're blaming the cuts on the economy, I was curious as to whether anyone else is running into the same problem. Cut "because of", but successful "in spite of." Seems that both sides of the mouth are saying different things. I think most companies are in "squeeze" mode. The company I work for is pitting facilities against one another and demanding more production,less benefits,etc.,and threatening with consolidation. It becomes a race to the bottom. Whoever is willing to give up more,gets the work. It's just a sign of the times. It reminds me of the '80s. But things are cyclical and it will turn around in time. Until then we just need to do what we gotta do and be thankful to have a job.
DrDawkinstein Posted May 29, 2009 Posted May 29, 2009 Sorry to hear that... The profitability thing is what bothers me. Not only are we profitable, we're buying other companies, paying executive bonuses and raises (30% or so per), and opening a new building. We're not even close to the red. We're actively and aggressively growing. yeah, then the cuts are a bunch of BS. at least with us, our Owners/Partners havent taken a paycheck since November. we're all in it together. from this perspective, it kinda sounds like theyre using the current state of the economy to screw you guys. good luck with that.
plenzmd1 Posted May 29, 2009 Posted May 29, 2009 Just remember, in this economy top performers are more in demand than ever. I just started a new job two weeks ago as an example and was I was reeiving way more recruiting calls in the last 8 months than ever before. If you are working for someone you no longer respect, do not be afraid of looking elsewhere. There are still plenty of job openings, and top guys are getting paid more NOW than they were just 12 months ago. And yes, there are several short term thinking organiztions that are using the economy to slash employee benefits, pay etc. They believe there are not options available, but that is just not the case. Longer term ,strategic thinking organizations are sopping up top talent now, as well as making sure their top performers are well taken care of and are highly engaged. Just remember you have plenty of options in Atlanta for someone with your background.
Tcali Posted May 29, 2009 Posted May 29, 2009 Sorry to hear that... The profitability thing is what bothers me. Not only are we profitable, we're buying other companies, paying executive bonuses and raises (30% or so per), and opening a new building. We're not even close to the red. We're actively and aggressively growing. maybe they are more profitable because they are cutting benefits
ExiledInIllinois Posted May 29, 2009 Posted May 29, 2009 Just default on all you personal unsecured loans and bank the money you save... Then blame it on "the economy." Maybe everybody should do this. The system would be swamped. If you have a ton of money in the bank, who needs credit? And heck, everybody wil be int he same boat. Signed, Anarchy
ExiledInIllinois Posted May 29, 2009 Posted May 29, 2009 It's going on everywhere. These companys are using the state of the economy as an excuse to screw their workers. Even if you're company is doing fine,they figure the job market is so tight you'll just put up with it. And in most cases,unfortunately,they're right. Exactly, it is human nature. Protect your own ass I guess.
HopsGuy Posted May 29, 2009 Posted May 29, 2009 Hey gang... quick question... I've seen this happen before. You mentioned that your company is doing some acquisitions. They might be making the benefit structure congruent with what their acquiring? You also mentioned that your company is experiencing record profits. Why is this? Are you taking market share or is the market growing? Is the growth sustainable? Is your business sector (gasp) counter cyclical? I agree with plenz that your firm seems short-sighted with the idea that they can reduce your compensation (salary + benefits) in an economic climate where you'd be less likely to leave. But it happens. Good luck.
extrahammer Posted May 29, 2009 Posted May 29, 2009 I would go ahead and start looking for a new company to work for. Your company sounds like a bunch of tight-wads. Who knows, they could be fattening their salaries with your loss of coverages and perks. The least they could have done is informed you before they did these things, but to disregard it is extremely unprofessional. Sounds real shady to me. I would be on the outlook for other opportunities and be ready to bite.
erynthered Posted May 29, 2009 Posted May 29, 2009 I would go ahead and start looking for a new company to work for. Your company sounds like a bunch of tight-wads. Who knows, they could be fattening their salaries with your loss of coverages and perks. The least they could have done is informed you before they did these things, but to disregard it is extremely unprofessional. Sounds real shady to me. I would be on the outlook for other opportunities and be ready to bite. Always, always look for a better opportunity. Its what you do. Complacency has killed many a career. Good Luck.
Buftex Posted May 30, 2009 Posted May 30, 2009 Where I work, benefits have gotten progressively worse by the year. It started with 9/11... they used as an excuse for everything....
Chilly Posted May 30, 2009 Posted May 30, 2009 Hey gang... quick question... So, over the past year, the company I work for has decimated our benefits. I pay over $200 every two weeks for myself and my family. No out of network, cut our FSA from 5k to 1k, big deductible, always increasing co-pay. We've dropped POS & HMO and just have some stripped down PPO option now. They're talking about doing away with that next year altogether and just offering a pair of minimal plans. We just sat through a meeting where they told us we're using our benefits too much and have to call nurses first, exercise more (they pulled gym memberships 6 months ago without telling us... we just got bills from the gym, or worse yet, were denied entrance), put off going to the doctor when self service routes are available. They're blaming all of this on the "state of the economy." Sure. But the catch is? We posted a record profit last quarter and beat guidance. This whole thing sounds kind of, well, crappy to me. They're telling us they're trying to keep our benefits competitive with the industry. Now, my question. *Is* this due to the economy? Are all of you experiencing the same problem? I'm a college educated computer engineer with 10 years of experience. This doesn't sound like it's par for the course? Is it? My gut tells me they're using the economy as an excuse. When are you going to come work for Mailtrust/Rackspace?
erynthered Posted May 30, 2009 Posted May 30, 2009 Just gotta find the right company (Rackspace FTW) How-ya doin dude?
erynthered Posted May 30, 2009 Posted May 30, 2009 He's still alive Being a Vince Young fan doesnt count.
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