Thread regarding ConocoPhillips layoffs

VCIP and Raise Predictions

What will raises look like in a 5%+ inflation world? Will company use VCIP to compensate for inflation as VCIP is a 'one-time only' event whereas annual adjustments are compounded through the years. I personally think adjust should be mid-point at inflation ~5%.

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Post ID: @OP+1dIklUlY

10 replies (most recent on top)

Vcip will be 13% and salary adjustments 5% U heard it here first

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Post ID: @1edhi+1dIklUlY

It will be loads and loads of money and a huge increment in salary. Go ahead, spend it all on credit now!

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Post ID: @fhzf+1dIklUlY

The midpoints and their adjustments (merit) are made based on market factors of our competitors through a survey firm such as Mercer. Inflation only plays a role to the extent that it impacts the salaries in the industry as a whole. The comp basis is more accurately a reflection of what the industry must pay for a certain role or level of experience etc… The abundance or unemployed, underemployed and highly experienced people looking for work in our industry places downward pressure on salaries.

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Post ID: @7rzm+1dIklUlY

Absolutely true, but remember you're talking to the participation trophy crowd.

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Post ID: @6rwd+1dIklUlY

Merit is market based not cost of living.

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Post ID: @6cgg+1dIklUlY

While they should make midpoint adjustments to account for inflation, I would rather see an attempt at a stable workforce. If they cut out or delay merit, that is fine as long as the cycle of constant layoffs can be stopped.

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Post ID: @3mzn+1dIklUlY

As Judge Smails in Caddyshack said to his weasel grandson, “You’ll get nothing and like it!”

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Post ID: @2pvm+1dIklUlY

Leadership Forum and especially ELT members will be rewarded handsomely for steering us through the ravages of the pandemic, while everyone else will be told they’re lucky to have a job. I’m old enough to to remember when they delayed merit increases (last year).

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Post ID: @2uwf+1dIklUlY

remember what we learned in the L48 townhall: the company cannot simply share the benefit of high commodity prices with employees because at some point in the future oil prices will be lower.

enjoy your 1.7% merit and 89% vcip

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Post ID: @1ehv+1dIklUlY

You personally think…
What do you professionally think?
Brace for another round of “cost savings”.

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Post ID: @ixt+1dIklUlY

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