I had an employee who got a great offer from our competitor and I convinced him to stay by giving raise. I would say he was an expert in our org which really hard to replace. Everyone would come to him asking for help. Performing much higher than his grade level expectations. Due to rejection of promotion out of cycle from higher management and HR, he left (because of budgeting constraints). Now we have to open a position to higher his replacement. For a new person, we need a sign-on bonus + RSU + competing base pay higher than asking $ for employee raise which was 20k. Plus have to give a year of ramp up. You judge!!
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Intel is losing the competition for talent. Less talent —> worse results.
They should eliminate the promo budget for middle management and above, and redirect it toward keeping and supporting ground floor talent that can truly help right the ship.
As a manager, I had a similar issue. The cost of giving a raise to high performing employee is much less than new PhD RCG. I have no idea what is going on in HR, just know its hurting the company really bad.
If that is true they need to look at HR analysts playing number games. It would all be documented. Look at how those teams have performed. Hold HR accountable.
But meritocracy
But wait, there's more! Now that he's gone- there's more promo budget for you! Rejoice! AND, dig this, now that the competition is down the street, the under performing members of your team can now move up! So pick one and give the promo to "they". Choose carefully.
Not only that, but average and relative pay for URM goes up. Average age of employee goes down. No package required! The gift that keeps on giving. Send your former employee a thank you note.
All according to plan. "He" was replaced by a URM. And the competition is now down the street.
"open a position to higher his replacement.". Bullsh*t. misspelled "hire"...
Pay higher to hire new/RGC vs up pay a performer. Intel make the wrong decision 90% of the time. We make logic, we Do NOT use it.
Nice fairy tale.
Pennywise pound foolish.
People like that will leave and Intel will let them go, but Intel will never get rid of SrPe/Fellow who are 100% useless snake-oil salesmen and keep paying them big paychecks to stay and sh-t things up.
He made a right decision to leave this miserable company.