So I manage a very small team and I just finished their annual reviews and it’s time to dole out merit increases and yep, it’s 3% per employee unless I decide to give some more than others.
With inflation at 7% (or at 15% or more depending on if you use old ‘80s metrics before the govt started manipulating data to make things seem not so bad), anything less is essentially a paycut. Of course 3% is better than zero, but with everything we’re being asked to do more with less, the rising cost of gas and food, and the pressure from senior leadership to get butts back in seats, it’s just extremely de-motivating.
My other peer managers give me Pikachu faces whenever I tell them about inflation, and then we wonder why our teammates are leaving in droves for better pay and remote opportunities.
It’s gonna be a long year.