I’ve got 17+ years with HON. It is considerably harder to walk away mid-career with so many years vested. It’s definitely a damn if you do/damn if you don’t case. Do you hope and pray you can survive any future layoffs? Or do you try to move on before you are impacted? I know a lot of my colleagues are in the same boat. Some are definitely looking while others are holding out.
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OP,
What have you decided? The suspense is too much.
I think it’s better to bounce to another employer for your pay, if nothing else.
- - one more and this is huge - no more constant worry about furloughs and layoffs
Left 5 years ago and have never regretted it one day, where I am now vs. then:
- more vacation - and encouraged to use it
- hiring bonus
- high growth company and industry
- company stock plan and 401, where our contribution is optional
- WAY better health insurance, $15 co-pays for standard visits
- periodic profit shares
- private company, no "chasing the quarter"
- no EEI or time clock BS
- remote work is encouraged if your job is compatible
- no rack and stack or 9 block quotas - reviews are fair and honest
- more fulfilling work
- regular company functions and employee discounts
- modestly better pay, despite "starting over" in a different industry
What I value above all else is the peace of mind that comes with working for a company that truly trusts and values the employees. The only things I miss are the cool products I worked on and the really smart, dedicated people that shared in the suffering.
Get out ASAP.
It’s important to note all Honeywell pensions were back end loaded, as it relates to final pension income calculations. Also they have been capped for any further increase in pension payments, so there is no reason to stay a day longer at Honeywell, as it relates to future pension income payouts. You are much better off to start over some where else with a company that provides bettor benefits, pay, work environment and the potential of an additional pension income stream.
Get out, like yesterday! Mid-career is totally fine to leave at. You still can work a lot of years at the new place. I did just that and I’m reaping the benefits. There’s not a single thing that was better at Honeywell. I’m no longer worried about getting laid off in my 50s.
Move on. I can’t believe this decision even takes a few seconds of thought.
The longer you hang on and hope for a pension, the more you will be disappointed when you do get laid off... and you will get laid off unless you move to a foreign country.
Dude…move on. It’s a sh!t h8le of a company. If you have to ask the question then it’s time to look elsewhere. Got it!
Work is no different than investments. Pick an industry and then a segment in an up trend.
Jump when that changes.
Do you think aero is in an up trend?
I think it is about to be disrupted.
Move on and don't look back. I moved on at 55 and had no issues. Better job, friendlier environment, Sound like you may have 10+ years to go. That is plenty of time to forget about Honeywell completely. A move to a different company improves the resume and variety is the spice of life.
After all this mess from last year it seems as if those of us that are in the middle of our career are the only ones left. Believe me, we are all looking to get out. Quite a few have done so already. Some have left to competitors and others changing industries all together. There has been little to no communication from leadership on what our future holds. We feel like we are circling the toilet and we are not convinced that we will be able to make it another 15-20 years.
Ask your self another question, "How little do you value yourself?"
What's the LEAST you would accept in compensation before you came to the inevitable conclusion that you MUST find another job? By that time, you may have slid too far down the pay scale to be able to argue your "true worth" to a prospective employer.
Here's what I always say: 'You must be ready to step outside of own humility and act as an agent for yourself.' Unless you're a VP or above, you don't have the perk of Executive Search Firms carousing the industry for you in hopes of landing a high-paying gig that returns them a tidy sum in commission for their efforts. Nope, we have to act as our own search firm, or "agent," as it were. So, pick yourself up, count all the experience and skills you've picked up working at Moneyhell then SELL YOURSELF, while you still can. The chances are that in 10 years you'll look back on your life and be surprised to find yourself in a place you never thought you'd ever be as of now. Calculate your options and NEVER compromise your principles for any job. Remember, they need YOU more than you need them... especially these days. Good luck.
For many, there is no choice. They are "Bound for Glory", replaced by an H1B or a grunt working offshore.
Never let the company believe you’ll stay no matter what the abuse, there has to be consequences for their bad ethics. It IS happening now, no one is applying to this company, people are quitting or retiring early, this place had earned its bad reputation
Agree with @nfw that if you have to ask, it's time to move on. At a previous employer in a different industry, 17 years of service was the magic number to become RIF bait due to the perception of higher salaries. Assume that the company will always have the big boys' interests at heart, not yours, and things will never get better. The few are in it to get rich at the expense of the many.
Why do people keep coming here, asking the same basic question over and over when the hard evidence is in your paycheck, your insurance deductibles, your unpaid overtime, your unlimited vacation that you are never allowed to take, your puny clawed-back raises, your furloughs, your undeserved PIPs, your lack of effective training ops, your moldy carpet, etc., etc.....?
Likely because you are so beaten down by the system you don't have the energy to embark on a reasoned job search. I understand. But after getting RIFed last year and taking some time off to recover, I have found a great job for 30% better pay, 100% remote, great culture, discouraged from working OT, better benefits, and on and on.
At 17 years of service, only you are holding yourself hostage to the beast. You can take matters into your own hands and split on your own terms, or slog along until they force the issue. Who would you rather have in control of the rest of your working years? Good luck.
Just find another job. Do you actually want to work in this pit for the rest of your life?
You work for nobody but you. Stop treating Honeywell as an employee. They are your customer. Do you want to work at company with only one customer? Diversify immediately!
While you work on that ask yourself what kind of business you run. Do you keep the shop door open at midnight or do you close up and go home?
Ask FedEx how it felt when Amazon handed them the RIF notice. Look at the charts.
I spent 39 years there dodging layoffs and getting PIPed for no reason when I hit 60. It's only going to get worse. It's hard, but move onto to a company that values their employees before you get to old. I tried to move on in my late 40's, but once they know what year you graduated, is very difficult to land a new job, unless you have some special skill.
As a older employee and those under the old pension plans as of 2015 being effectively capped, employee healthcare premiums and deductibles ever increasing for the employee, no advancement promotions, no yearly inflation increase or merit increases, no 401-k match and retiree healthcare eliminated eight years ago, why would you stay if you could find a job without all the layoffs, stress, demands for more and more. Also if the new company offered better pay and better benefits. The decision seems pretty straight forward and simple.
If you have to ask, it’s time to move on.