Too many jobs opening up in Calgary and people are leaving or planning to leave in the new year. Such bad management at the top. They came in too arrogant and made changes to people benefits too quickly.
Let the Cenovus brain drain begin..
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I worked at a major that went to cubicles and the productivity decrease was astounding. Worst of all is the noise and constant distraction. It works well in people centric teams like HR but for technical people who need to concentrate it’s a nightmare.
I guess it’ll help our employee attrition rate though which seems to be one of management’s goals.
When’s the move?
For those considering leaving, just take a look at the new cubicle layouts and that should be enough to push you over the edge!!! Wow! What a truly visionary workspace design...what do these people think we do for a living? If those walls got any lower you wouldn't even be able to contain an average fart! The first time some id--t comes into the office with the flu, an entire team or floor is going to be wiped out. What a joke!
HR has constantly said they are aiming for P50. That’s not a secret. They don’t want to be top of the pay scale. They cut bonuses as well for most staff, notably not for mgr and above though. Expect no less from this mgmt team. I don’t think they care if people leave, just means they do not need to pay out lay off packages.
Total Compensation at CVE is NOT top notch! It is P50 at best. RSU's and especially PSU's are like Monopoly money and may or may not pay out. I wonder how many people have been laid off just before they would get an RSU/PSU payout??? Also, CVE makes you wait 3 years to benefit from the stock unit portion of total comp! 90% of companies vest stock units in one-thirds over three years. So you could jump off this sinking ship, get your salary matched and then collect 2/3 of they stock units they give you before any of us will see a dime from our stock units!!! CVE base salaries are also NOT top notch! They are P50 to P75 at best. Anyone who has been at CVE long term could very easily get their total comp matched elsewhere, and very likely get a 15-20% raise in total comp from the prospective employer!
That may be true for a few select jobs, however for most of the jobs across functional area, Cenovus pays well above industry average. HR reps at competing companies will confirm this.
You'd be surprised what even this market will pay for salaries for those with the right experience. I also wouldn't say CVE pays "top notch" salaries!!! They pay more like P50 salaries!
Another round of layoffs due to the differential?? I bet yes with Q3 announcements coming up this week.
Wait until we move into those c-appy cramped cubicle farms with 40 people in close quarters. Cattle we all are.
Then people will leave even more.
If AlPo does a good job - he gets millions. If AlPo does a bad job, he gets a parachute with millions. Stock is in the toilet, morale is beyond repair, “jobs for buddies” program is rampant, great people leaving, bullies run the halls - and guess what AlPo gets......millions ...while he fishes....
I want to be more like AlPo
The huge disconnect between employee pay and company performance is amazing. I'm not sure how the BOD/Shareholders get hoodwinked year after year.
The younger generation will be more enticed to leave but anyone who has been at cve (incl the predessors) for say 10yrs plus will stay. The total compensation at cve is still top notch compared to what's out there and the older individuals' salaries can't be matched. Also, after 10 yrs plus there's a lot of severance on the line if you quit.
The ppl at cve are there for the compensation / severance and job security as it is nearly impossible to be fired. Definitely not for ambition or to learn.