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Your company is in the minority, /kevin: most of the ones I've seen, the
employees take a pay and benefit cut, get laid off, the execs get raises and
bonuses - they're a "valuable resource" and have to be retained, never mind
that frequently it is THEIR bad decisions that put the company in that
position to begin with.
It's great that the senior management in your company implemented changes
that affected themselves as well as the rank and file. That kind of behavior
is more likely to generate employee loyalty - and provide the incentive for
the employees to remain productive, thus contributing to the company's
survival.
Jo Byrd
From: <MList -at- chrysalis-its -dot- com>
eric -dot- dunn -at- ca -dot- transport -dot- bombardier -dot- com
"Companies will happily rake in profits hand over fist due to good market
conditions, but good luck getting them to match market salaries when they go
up. And before someone says that employees don't take a cut when the market
goes down, think again."
Two years ago, we cut a division of our small company, during the aftermath
of the tech bust. It became apparent that even that was not going to do the
trick, so it was announced that employees would be taking a ten-percent pay
cut. It went into effect three months *after* the senior management took an
equivalent cut. Other companies in our space folded. We didn't.
We weathered the worst of the storm and are expecting to "return to normal"
before long. The company keeps us up-to-date on the numbers. Or, should I
say: the senior execs keep us informed.
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