I am part of a group in my organization that has been asked to give a presentation to our C-Suite with recommendations on employee retention. Our company, like many others, and maybe even more so lately, is seeing huge amounts of turnover and it's primarily driven by higher salary offers elsewhere.
I made the point in one of our brainstorming meetings with one of our Presidents that any salary raises that don't match inflation is a pay cut. She replied by saying that “Company X isn't responsible for subsidizing inflation. And even if they did raise everyone's salaries by 10%, what are they going to do in three years or when the recession is over? Take the raises back?”
Ma'am, if you don't want to hear the truth then why even bother asking? If Company X doesn't want to subsidize inflation, then guess what? Company Y will. And Company Y has been. Take a look at the teams that are down to skeleton crews. And she's gotta be kidding herself if she thinks prices are ever going to go down. Since when has that ever happened? But I guess it's easy to be that delusional when you're sitting pretty with a second house and a 401K bigger than I'll ever make.
What an absolute waste of time smh.
Edit: formatting