Pension plan has been reduced. Salaries and bonuses reduced and continue to decline. Everyone is paid nearly equally which means senior proven and knowledgeable employees are paid equally to newly graduated creating much animosity and a sense of entitlement to the younger group.
Although reviews are performed annually with the effort to pay the higher performers more through bonus, the system is extremely political and imbalanced. The highest performer in our group received only a meager 1% more than the average performer (in bonus) while other high performers in other groups received 20-50% higher bonuses.
Think your high performance will get you promoted. Wrong. This system is extremely political if not dog eat dog. If you are polite, work hard, smart, and do more than others - you will get passed over for promotions guaranteed. I was flat denied a promotion for my direct report because "she is too quiet". All her contributions and savings for the company meant nothing. Those promoted - threatened to quit, denagraded others to get their slot, confronted managemnt to get their promotion; absolutely not how it should be.
We used to have a training program in many of the departments to bring along the new hires and certainly pass along knowledge - much like an apprentice. This was great as it strengthened the department and the company.
Unfortunately, senior peopel have left in droves as they are not valued, salaries have been frozen and the new pension is terrible. Loss of senior personnel means that the company no longer has the brain trust to teach the newly hired what we already know and have learned through years of work and sharing knowledge. The company doesn't care as the older employee costs them more in benefits and pension.
There is no end in site to the problems especially while the upper management remains the same. Company needs a new CEO, and executives.
