If anyone wonders why "employees" aren't loyal anymore!

[Crankyshank]

Unfortunately this is something that happens every where and has been going on for a long time and probably won't ever change. So I guess you have a choice between letting it get to you or accepting it as a fact of life.

 

[Disney Doll]

Well, I guess some of us buy into the notion that doing a good job will, if not get you an extra rewrad, won't get you a slap ion the face.

Certainly a year end bonus is never "owed" anyone, unless, as previously discussed, it is part of a negotiated employment contract. And certainly, if the CFO of the OP's company negotiated himself a year-end bonus as part of his employment contract, then he was certainly well within his rights to take one legally.

I guess I just get disappointed (not morally outraged, but simply disappointed) when companies throw that "family" baloney at you all year..."you're part of the Acme famil" and "in the Acme family, we support United Way" and so on, and then when the rubber meets the road, the "family" notion falls apart. I guess I'd just rather see a CEO/CFO say "look, this is a business, we're here to make money, I'm a bigwig, I'll make lots of money off your backs, and you'll get your paycheck every week".

I guess it's the hypocrisy that disappoints me.

I remember the story about a factory owner in, Worcester MA I think (although I am not sure) whose factory burned and for the entire time it was being rebuilt he still paid his employees. Talk about fostering loyalty!!!! We have a small hospital in a nearby town that fell into financial diffculty a few years back. All the employees, including the senior administration, took pay cuts, gave back vacation time, made a lot of sacrifices to keep that hospital afloat so no one would lose their jobs. They changed the entire corporate mission etc., and today that hospital is successful has been enlarged and is doing well.

I work at a hospital. Our senior administrators would be firing people left and right if they thought their own jobs or salaries were in jeoprady, and they would give a hoot what happened to the patients.

 

[CapeCodTenor]

Sick, just sick is all I can say. No wonder there's no more company loyalty.

 

[blowinbubbles]

Disgusting.....I also despise the practice of letting dedicated employees know that they are "let go" at this time of year......

Also, can I say here, it does not matter how loyal you are, they never appreciate it anyway....

I agree with you here! I recently started a new job, and last week my boss let me go! She said I "wasn't getting it," which was so untrue. Even so, I think she should have discussed it with me. especially in light of the fact that when I first started there, she told me that they don't fire people for anything less than insubordination. It makes me sick because this year was especially hard on our business from Ivan, Dennis and Katrina. I was depending on my paycheck for Christmas gifts. . heck I was depending on it for the power bill! And I worked so hard for that company!

Loyalty definitely doesn't count anymore!

 

[KAMLEM]

Just be thankful that you have a job. I was a Finance Manager with a company for almost 20 years and I was laid off last October. I was one of the most dedicated employees around but it got me nowhere. To them, I was just a number on a spreadsheet. I took some time off and have been looking for a job since September but I haven't found the right fit yet. I would just be happy to have a job.

At my previous job we had fantastic bonuses, as high as 75% sometimes, but we were always told that the bonus program could be discontinued at any time and you were never guaranteed to get one. There were years were the pools were cut and some people who got them one year didn't get them the following year. It's just the nature of a "bonus".

 

[Chicago526]

But if the CFO's bonus was contingent upon meeting certain budget goals, and the only way to make those goals this year was to cut bonuses and do a pay raise freeze...

We've been having some issues lately in my office due in part to office politics, and it's left a bad taste in the mouth of everyone in my division. We're all making backup plans, it could just blow over, but somehow, none of us thinks it will. It wouldn't be so bad if they'd just be straight with us, but it's all been cloak and dager around here.

Business is business, and our employers owe us nothing other than a paycheck. But common human curtesey is never bad business, either.

 

[dejavu]

I too do payroll and bookeeping for a company, I see all the checks that go in and out. This is my job, I knew when I took the job that I would be privy to information I might not agree with. You have to let it go, it's not your job to decide who or what is done with the money- I see people at work everyday who are better paid and work less than I do but hey that's not my call. I do get a bonus at Christmas which is appreciated. I cut all the other bonus checks too and mine is the smallest but I am happy at my job and feel I am well paid.

 

[Snowysmom]

I don't think people expect bonuses any more, especially with the way things are in corporate America. But, for an executive to get a big bonus after telling the rest of the employees that the company did not have a good year, that is ridiculous. If it is part of his compensation package, then he should take the check and not leave it lying around on a copier for others to see. It is almost like he was wanting everyone to know that he got a bonus. Corporate executives are paid far too much these days and when the company fails or they get replaced, they get their golden parachute. There is no more loyalty either company towards employee or employee towards company. Sad, but true.

 

[mickeysgal]

Just be thankful that you have a job. I was a Finance Manager with a company for almost 20 years and I was laid off last October. I was one of the most dedicated employees around but it got me nowhere. To them, I was just a number on a spreadsheet. I took some time off and have been looking for a job since September but I haven't found the right fit yet. I would just be happy to have a job.

I absolutely agree. Years ago my DH was laid off and it was a terrible time in our family. He found another job, but the experience has totally changed our way of thinking. We are so very grateful that he found a job he likes and that it has good health insurance that covers our family. So many familes out there haven't been as blessed as we have been.

To the poster of the quote above...I hope you find a job - soon - thats right for you.

 

[dwbakerjr]

Saw this on MSNBC comics this AM...



http://www.msnbc.com/comics/daily.asp?sFile=nq051214

 

[missypie]

Disgusting.....I also despise the practice of letting dedicated employees know that they are "let go" at this time of year......

Also, can I say here, it does not matter how loyal you are, they never appreciate it anyway....

We're having that discussion round my office. Last Friday we let 7 people go. The thing is, that was the 9th of December, and the deal is that they don't have to come into work any more but will still get paid through the end of the month (3 weeks) and THEN their severance will start. That's actually very generous. However, some people think that it "ruins Christmas" and that most people would rather be let go after Christmas, even if it means not getting the 3 weeks "free" pay.

 

[Disney Doll]

Just be thankful that you have a job.

You knwo a few years back I had a VP at my hospital say something very similar to me, followed by the statement "I could hire 2 new nurses for what we pay you". My response to her was "I'm sure you could, but would you want either of them taking care of your mother?"

Funny thing is, I'm still here and she's gone.

Call me conceited, but I also think my hospital is quite fortunate to have a good nurse with 20+ years of experience working for them. And any time an administrator makes that "be thankful you have a job" comment to me, I tell them that!!!!!!

 

[mickeysgal]

But if the CFO's bonus was contingent upon meeting certain budget goals, and the only way to make those goals this year was to cut bonuses and do a pay raise freeze...

We've been having some issues lately in my office due in part to office politics, and it's left a bad taste in the mouth of everyone in my division. We're all making backup plans, it could just blow over, but somehow, none of us thinks it will. It wouldn't be so bad if they'd just be straight with us, but it's all been cloak and dager around here.

Business is business, and our employers owe us nothing other than a paycheck. But common human curtesey is never bad business, either.

We don't live and work in the same work environment that we grew up in or our parents worked in. People just don't seem to have the longevity in companies that we used to see. Execs are in and out in sometimes what seems like a matter of a few years (or less!). No longer do they hold long term positions (like 20 years or more). On top of that, there is this trend of giving bonuses instead of raises. So when they know that they (execs, upper management, etc.) won't be there forever, I think some of the decisions that are made are more short-term and designed to hit the budget goals of that particular year. They're very concerned about maximizing their bonuses and keeping their upper management (whose own compensation is tied to huge bonuses) happy in order to keep their own job. This can lead to what may not necessarily be the best decisions for the long-term health of the company. I'm not saying every company operates like this, but I know there are some that do. Its a bad vicious cycle that I don't think will correct itself until this trend of high percentage bonuses, stock options, etc. come to an end and we go back to plain vanilla raises.

 

[declansdad]

But what if part of your negotiated salary was a bonus at Christmas and a raise yearly.....some people truly count on those bonuses...

One more thought here.. hugs to you numbercruncher, I am sorry that you did not receive a bonus for a job well done all year.

A bonus is a bonus/gifts not part of a salary. They should never be counted on.

As for the OP, what the CFo did was low. When I was in a supervisory role, rules that applied to the employees, applied to me.

 

[mickeysgal]

I don't think people expect bonuses any more, especially with the way things are in corporate America. But, for an executive to get a big bonus after telling the rest of the employees that the company did not have a good year, that is ridiculous. If it is part of his compensation package, then he should take the check and not leave it lying around on a copier for others to see. It is almost like he was wanting everyone to know that he got a bonus. Corporate executives are paid far too much these days and when the company fails or they get replaced, they get their golden parachute. There is no more loyalty either company towards employee or employee towards company. Sad, but true.

I agree. There is no knowing whether that exec got the bonus because it was part of his compensation contract. However, leaving it in plain view for all to see is tacky, unprofessional, and totally out of line. There is no excuse for that. Its simply wrong, wrong, wrong.

 

[mickeysgal]

We're having that discussion round my office. Last Friday we let 7 people go. The thing is, that was the 9th of December, and the deal is that they don't have to come into work any more but will still get paid through the end of the month (3 weeks) and THEN their severance will start. That's actually very generous. However, some people think that it "ruins Christmas" and that most people would rather be let go after Christmas, even if it means not getting the 3 weeks "free" pay.

It may "ruin" Christmas, but I can see both sides. Maybe knowing prior to Christmas will allow people to adjust/curb their Christmas spending. Its a no-win either way.

 

[Bob Slydell]

I agree. There is no knowing whether that exec got the bonus because it was part of his compensation contract. However, leaving it in plain view for all to see is tacky, unprofessional, and totally out of line. There is no excuse for that. Its simply wrong, wrong, wrong.

Sometimes the one skill management never learns is tact.

 

[Alicnwondrln]

Well, I guess some of us buy into the notion that doing a good job will, if not get you an extra rewrad, won't get you a slap ion the face.

Certainly a year end bonus is never "owed" anyone, unless, as previously discussed, it is part of a negotiated employment contract. And certainly, if the CFO of the OP's company negotiated himself a year-end bonus as part of his employment contract, then he was certainly well within his rights to take one legally.

I guess I just get disappointed (not morally outraged, but simply disappointed) when companies throw that "family" baloney at you all year..."you're part of the Acme famil" and "in the Acme family, we support United Way" and so on, and then when the rubber meets the road, the "family" notion falls apart. I guess I'd just rather see a CEO/CFO say "look, this is a business, we're here to make money, I'm a bigwig, I'll make lots of money off your backs, and you'll get your paycheck every week".

I guess it's the hypocrisy that disappoints me.

I remember the story about a factory owner in, Worcester MA I think (although I am not sure) whose factory burned and for the entire time it was being rebuilt he still paid his employees. Talk about fostering loyalty!!!! We have a small hospital in a nearby town that fell into financial diffculty a few years back. All the employees, including the senior administration, took pay cuts, gave back vacation time, made a lot of sacrifices to keep that hospital afloat so no one would lose their jobs. They changed the entire corporate mission etc., and today that hospital is successful has been enlarged and is doing well.

I work at a hospital. Our senior administrators would be firing people left and right if they thought their own jobs or salaries were in jeoprady, and they would give a hoot what happened to the patients.

i remeber that worcester fire
it was a mill i boeive he rebuilt and people kept there jobs
but i dont know if its open anymore
but it makes a good point

 

[Free4Life11]

I'm surprised no one tore up the check! If someone at my job saw that check lying around it would either (a) be in the shredder or (b) be used as a dart board!

If business was so bad, how would he still get a bonus? Aren't bonuses usually tied to performance? If he gets the bonus regardless of performance, I don't understand why he wouldn't just just have a higher salary to begin with. Maybe the bonus is more "special" or something.

At my job they cut our hours so that payroll is under budget and the manager's bonus is higher! Yet they complain when people are in a bad mood, not working hard, etc. And then after the holidays every year they hire new people and as a result EVERYONE's hours are low. This year supposedly they aren't going to be hiring new people after the holidays, but we'll see... Maybe they'll make it up to us with giving out more bowling coupons

 

[Poohnatic]

IF
If it is not part of your contract or salary agreement, then you have no business expecting it. At that point, it is a gift. I don't know about anyone else, but I was reared never to expect gifts.

I don't think that the OP *expected* a bonus. More like the CFO said "No bonuses", and yet he gives one to himself. No bonuses should be no bonuses to ANYONE. If he'd told them no bonuses and didn't have a check cut for himself, that wouldn't be a problem The problem was that he was a hypocrite.

Hang in there numbercruncher.

Suzanne