Anyone hearing from their managers about the promised merit increases in July? I asked a few weeks ago and was told they were still under review. I'm beginning to think they weren't approved and we are getting burnt.
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@5nui+1btD4Kpw - here's the 5% inflation that I have seen i am sure there are other comparable sites: https://www.thebalance.com/current-u-s-inflation-rate-statistics-and-news-3306139
Serious question here... "5% cost of living increase?" Have anything to back that up?
The only thing I could find is that social security COLA was 1.3%
Losing the 401(k) match was a hard hit, but that doesn't increase the cost of living.
Yeah i heard that most people are getting a 1-2% increase, which doesn't match the 5% cost of living increase due to inflation. I guess we make 3% less this year than we did last year? Maybe it is time to find something new ?
I hear the merit increases will consist of a free Fiserv plushie doll and a 20% off coupon to Golden Corral.
Merit increases are going out and are lack luster as SOP here. I do wish managers would quit using the line of you should be thankful since some people are not getting any. That doesn't help any situation.
Frank would rather ship a bunch of money over to the UK to rescue all the small businesses. Nice job, and good timing with July 4th coming up. What he doesn't report is how many of these small businesses end up imploding and failing. Our 401K matches at work folks - I'm growing more and more embarrassed for Fiserv daily.
I'm excited that my merit increase almost offset the increased cost of my health insurance. That is exactly what I told my boss when she told me how much I was awarded. Then I said "maybe there will be another round to offset the loss of 401K match." She was rather annoyed at this response; I think she was expecting me to be grateful.
Got my bonus info emailed today. My manager is so ashamed of how bad it is he can't even spend 5 minutes on the phone to tell me himself.
Last post should be removed. Complete lie the merit increases have already been loaded into workday. This is what hurts the credibility of this site, just complete falsehoods.
Confirmed: merit increases were not approved because we are not on track to meet second quarter earnings. Sorry chumps, but hey we got some more executives to pay.
I would not bank on getting 5% unfortunately. Managers only have an approved budget across all their direct reports to give, at most 2%, per person. Anything higher than 2% for an individual has to go up however many levels for approval. We all know how likely that approval will be.
I got 'Exceeds Expectations', if I don't get at least 5% I'm quitting. :) ...honestly, still floating my resume if it is 5%. Lets try again for 10!
Why are you whining. Your team is playing at the FISERV forum 😂
Getting burnt? At the "new" Fiserv? Naaahhhhhhh
I just picked up a 5% merit in this process, given I actually have a manager who runs a meritocracy who aligns pay with high performance!
Is the merit increase being backdated to compensate for the last 18 months?
We got our final approval yesterday to start conversations. Managers can see the merit $ in Workday.
No point challenging your manager.
This gets handed down from the top with no thought about the conditions in local markets.
Oh and if you got less than 2% - you just got stack ranked baby!
1% ....what an insult. You can make more in an afternoon picking up beer & soda cans along the road and taking them to a scrap yard. Why would you continue to accept this low end figure ? Challenge your manager !
Yeah buddy, don’t spend that 1% all at once !!
They have been approved. Your manager has finished planning he/she should be communicating to you!
They usually don’t approve it until the last possible minute. Check workday on 7/1.
If you did not get an increase, than maybe you do not have merit!1
Chances are they were not approved and you getting burned anyway, so why bother to stay?
The stock continues to tank, the last thing the boys are doing is spending more. Frankly I can’t understand why people at fiserv want to continue to work for a loser