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Annual performance reviews and raises

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Anonymous

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Annual performance reviews and raises

The company I work for was acquired 9/2024. With this company, reviews and raises were on the anniversary of hire date. The new company reviews everyone in the spring in two parts; the review and the raise separately. From what I understand, the raise will be 'prorated' if your last raise does not coincide with the timeline of your last raise. Can someone help me understand this? For example, my hire date is 9/5. Last 9/5 I received an 8 percent raise. (right before the acquisition, so that's good) So how is it suppose to work from now that we are fully acquired? Am I suppose to get a prorated raise? What if it's COL 3 percent? So that's 11 percent over 1.5 years? It seems to me that someone gets shorted, the employee or the company. Not even my manager can really tell me. Are you familiar with this concept and what are the positives and negatives?

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  1. Laura

    This is definitely a question for the new HR department! They should have done a better job with communicating how this will all work because I'm sure you're not the only one who has this question. Good luck on getting it all sorted out!

  2. Anonymous

    I worked for a company notorious for acquiring other companies, and this was also their policy (almost identical). You are correct. If your last raise was in September 2024 and the raise comes in June 2025 (for example), the percentage would be half the regular raise.

    The company I worked for also used this as an opportunity to "readjust" all their salaries to market value and company salary bands. I had one (acquired employee) whose salary was so far above the top for the position that I couldn't even justify a COL raise. It will even out because you will get your next raise next year at the same time, but not lose the time since your last raise.

  3. Anonymous

    Appreciate the explanation, thank you - OP

  4. Anonymous

    This is a question best directed back to your company.

  5. Anonymous

    No one on this board can give you a solid answer on your company policies. As others have said, time to reach out to HR to understand the new construct.

  6. Anonymous

    This is coming dependence on your company.and how they work the math.

  7. Anonymous

    You need to learn your answers from your company, we shouldn't be speaking to their decisions and processes. No raises are ever guaranteed.

  8. Anonymous

    I’ve asked, they aren’t up front hence reaching out to the community of working women. Thanks for the reality check that this new company may not compensate me for cost of living increase or workload increase; it’s a good reminder of the world we live in.

  9. Anonymous

    That is definitely frustrating for you and your coworkers.

  10. Anonymous

    Really do need to go back to your company and lay out your thought process with math and ask if that is correct.

    I hear everyone talking about COLA in your raise. Your raise is either merit based or it is a COLA might be a COLA hidden inside a merit raise. Need to really distinguish which it is. If COLA Is 1%, were you getting 1% or were you getting something north of that.

    In my company there is a pool of usually 3%. It is up to your manager to decide if you get 3% or more or less. If you get more, then someone has to receive less within that managers direct reports. These raises arrive in June your review was completed in March - not every manager uses the review to decide the raise. In the case with my boss, they are conflict avoiders, so they assign 3% to everyone and let it go. Doesn't matter if they are good or bad.

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