If they are not giving us a 10% bump they are giving us a pay cut. 10% inflation, 10% pay increase needed.
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Grow up. Raises are not about your economic needs or what you think you deserve. They are about what the company thinks they need to spend to be sufficiently staffed. If you want a big pay increase, get another job and negotiate a juicy starting salary.
They won't increase your pay because Joe-and-Friends say it will cause a wage-price spiral.
I feel like most inflation you see was either greed based or due to supply chain issues (the real ones and also the fake ones). It's safe to say it went out of control where everyone had faced higher cost at some point and had to raise their prices as well.
So now, increasing salaries will make it run away even more. It is always the people that pay the price for inflation. It is what pays the debt countries accumulated over the decades. And the West was due.
Pre-production goods are 40% up (incl. energy markup) from last year in case you wondered what the real inflation is. Cause the 8% is bu-----t. But you already felt that, didn't you?
@1bct I worked in IT at a retail company for 10 years. They did the same to us. They used selected salaries of 'retail companies' to determine compensation for us.
We were well below 'market' salaries but we paid fairly. /s
But wait HR has done comprehensive research and stated Ford’s compensation is competitive. Oh but wait they have been saying that for 30 years when long term employees complain about new hires being paid more than the experienced engineers.
I’ve always wondered about HRs extensive research
They give the top money to the top talent “ FCDLPS”. LOL
Between meager merit increases and cuts to benefits, Ford has been cutting pay for years. Yet, they want to attract “top talent”. Pathetic.
Lol - you better start praying now that you might get 3%. Current conditions may require ford to delay any raises.
10% is hilarious!
Sounds reasonable on the surface. But taking a deep dive, everyone has taken a 'pay cut' due to inflation. Most of us have a 'fixed' amount of money coming in and that has to be used across the board to cover our budgets. If we don't have a discretionary amount put aside to help in times like this, then you have to rebalance that budget by only spending on the needs and not the wants.
If everyone has tightened their belt they don't have 'extra' money to spend in the economy on large price items, like cars, so profits will be down. Therefore a company like Ford, won't have the budget to give everyone a 10% raise just to cover inflation.
@OP I really don't understand the 'why' of your post. This is simple economics, understanding a budget, living within your means.
If merit increases were based on inflation, we wouldn't have gotten one for several recent years. They will look at the industry standards for automotive and other fortune 100s, give us a slightly lower one, or decide the recalls are too expensive and give us nothing at all.
They don't care. Their goal is to outsource as much as they can. Employees with low morale leave with no package ;-)
Good luck with that. Make sure you work extra hard so you can catch up with inflation.