Anonymous
07/13/2013 08:04
Subject: Company owners lied about profitablility, is this typical for profit margins
Happened to me. I got a 0% raise despite being a top performer (and received a top rating). The reason cited was "times are lean".
At the next all hands I asked the lead partner of the division: "How do you justify 0% raises for people, even those rates exceptional, when just last week you have $250,000 bonuses to two partners in this room? Do you realize that when people find that out, your most talented staff will leave?"
The room fell silent, and his response was awkward. Obviously I quit immediately after, but for days I had a number of people come and privately thank me.
Incidentally that group made the news a year later for accounting irregularities. Can't say it surprised me.
At the next all hands I asked the lead partner of the division: "How do you justify 0% raises for people, even those rates exceptional, when just last week you have $250,000 bonuses to two partners in this room? Do you realize that when people find that out, your most talented staff will leave?"
The room fell silent, and his response was awkward. Obviously I quit immediately after, but for days I had a number of people come and privately thank me.
Incidentally that group made the news a year later for accounting irregularities. Can't say it surprised me.
Anonymous
07/13/2013 00:52
Subject: Re:Company owners lied about profitablility, is this typical for profit margins
Anonymous wrote:Need more info, mainly the type of industry, and if the owners take a salary.
Consulting and yes
Anonymous
07/13/2013 00:47
Subject: Re:Company owners lied about profitablility, is this typical for profit margins
Need more info, mainly the type of industry, and if the owners take a salary.
Anonymous
07/13/2013 00:10
Subject: Company owners lied about profitablility, is this typical for profit margins
Long story short
You are told the company is not profitable and operates in the red and that everyone is struggling to get by including business owners so no raises for years.
You later find out that the company is very profitable but over half of all of the company revenue goes to direct payouts to company owners (about 5 partners).
Is 50% of all incoming revenue going to company owners typical?
You are told the company is not profitable and operates in the red and that everyone is struggling to get by including business owners so no raises for years.
You later find out that the company is very profitable but over half of all of the company revenue goes to direct payouts to company owners (about 5 partners).
Is 50% of all incoming revenue going to company owners typical?