The NI payment saved via the employees salary sacrificed pension payment has been reduced by 50%.
This was buried in an email that shouted out about the 4% contribution IRIS now makes to an employees pension. This is the statutory minimum IRIS is required to pay! I suspect this has largely gone unnoticed as only a few astute individuals will have picked this up.
4% pension contribution, possible higher in some companies recently acquired, but seriously, this is not going to attract the talent IRIS needs to survive. IRIS wants to be a world class company, striving to be a top 100 company. This is not how you do that.
Remuneration is terrible, period.
You will not earn good money here at IRIS. There is no share reward schemes.
Bonuses have been pretty much cut to 50% as the majority of individuals will only fall into a High Meets Expectation category. The scheme is not transparent and individuals are not allowed to discuss with others.
Objectives are subjective and you can do your best and still not achieve them. If you don't get along with your manager, there is no method to appeal or flag flagrant abuse. You're not told how you are doing through-out the year and so if below track, have no way to change or address concerns or debate your point of view.
Honestly the system is set in favour of the house. If the company does not meet EBITDA, no bonus, if the company doesn't reach a budget set above its holding company, no bonus. If the CEO can't control his spending on the credit card and buys more companies for inorganic growth, then no bonus.
IRIS will use creative accounting to reduce the bonus pot despite employees jumping through a myriad of hoops.
A few receive a commensurate salary, but most won't and there are huge pay discrepancies between colleagues working in similar roles.
Please don't be condescending, the majority of the staff are degree educated and smart.
Most are slaves to their own circumstance or misfortune and thus turn up to work for a meagre wage. Most earn only enough per month that they are essentially trapped.
IRIS will never pay enough for people to get ahead or make a real life changing differences, like a new car, that new kitchen or a bonus that would make life not so much of a struggle for the common employee.
If life was a little simpler and circumstance a little different , a lot more people will have already voted with their feet and left.
There is no career progression, salaries are behind the curve and stagnant. I don't care if I don't have a friend at IRIS. HR are not here to represent the staff member, but instead protect the companies best interest legally.
