Why are companies willing to pay to recruit talent, but not to retain talent? (employed, work)
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This behavior is typical of my company; you get stingy pay raises when you get promoted and insultingly low COL raises, but they'll pay far more to recruit a new person into the same position...if they bother to fill the position in the US.
More and more, they're cutting US numbers by attrition, i.e. when a programmer in the US quits, the India division gets the req for the replacement.
Companies won't pay to retain talent because most people will stay anyway and just ***** about the pay. If they give a few people big rises, the rest will feel stiffed. So the easiest thing to do is to give everybody a 2% increase.
If you want a substantial ~20% raise, switch to a new company about every 4 years.
Companies won't pay to retain talent because most people will stay anyway and just ***** about the pay. If they give a few people big rises, the rest will feel stiffed. So the easiest thing to do is to give everybody a 2% increase.
If you want a substantial ~20% raise, switch to a new company about every 4 years.
I agree with this. My rule is usually "New every two", so like 2-3 years I start feeling that itch.
At the same time there are a lot of companies that are total crap. If you are in a field where finding a good job is tough and you find a company that treats you well and pays you at least fairly it is worth sticking around rather than taking the risk of stepping into a hot mess.
At the same time there are a lot of companies that are total crap. If you are in a field where finding a good job is tough and you find a company that treats you well and pays you at least fairly it is worth sticking around rather than taking the risk of stepping into a hot mess.
Great point.
I've seen people at my company leave, only to come back a year or so later. No firm is perfect. You have to decide what you're willing to put up with. Your current job may pay X dollars, while a potential new gig is offering a 15% pay raise. But the new gig requires a solid 60-70 hours per week while the current job is a standard 40/week with slightly better medical benefits and a nice manager to work for. Lots of people just go for the increase in money but don't factor in the TOTAL compensation and benefits. You'll rarely switch jobs for more money without taking on a crap load of additional issues (stress, unfamiliar business practices, new leadership etc.).
The same reason companies jump through hoops to attract new customers but make no effort to retain loyal ones: they aren't thinking about their future of the corporation long term. Sure it's nice to have a great fiscal year, but it's much better to have a great fiscal decade, even if the numbers aren't as impressive over all. Customer (and employee retention) saves companies so much money over going to the effort of having to attract new customers/employees. A company's current customers and workers are just as important or even more important than their new ones.
Because they see very little value in their current employees, are short sighted and have no vision.
Perfection. Great answer. They literally feel their employees are a liability. but new employees are rolled out this substantial red carpet when they start, sometimes, (not most of the time) while current employees wonder when they will get a pay increase. if ever.
No loyalty anymore. We are all commodities.
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