Companies Do Not Care About Staff Loyalty (Anymore) - How Money Works

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How many people do you know that have been with their current employer for more than 10 years? Well according to the US Bureau of Labor Statistics it’s actually 29% of people, which sounds suspiciously high until you consider that a vast majority of this group are made up of workers on the verge of retirement, which is important to remember for later.

Amongst all workers in the US the median was just over 4 years.

In fact multiple studies have suggested that full time workers that stick with their employers for more than two years on average get paid FIFTY PERCENT LESS.

This is an unbelievably large gap, ESPECIALLY when you consider that the average of the loyal working group will be drastically inflated by senior executives and the c suite who tend to have more tenure. In plain English, for regular Joes like you or me, this 50% figure is likely understated.

So why aren’t companies stopping this? Surely having to pay tens of thousands of dollars to advertise a position, interview candidates, onboard new staff, train them and wait for them to get up to speed with their new role is not sustainable if it has to be done over and over again every 2 years… right?...

Well you would think so, but there are a few reasons why companies don’t care about employee loyalty… anymore…

#Career #Jobs #HowMoneyWorks

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[RPM.]

Companies want to hire a 25 year old with 35 years of experience and pay them like an 18 year old.

[Ihsnetad]

From my experience:
- Salary negotiation is much easier done with your next employer than with the current one

[wabio]

What employers are starting to realize is many workers would rather be broke and living in poverty than working a dead-end, low paying job while being broke and living in poverty.

[emilyandrews]

My mom has been office managing at a company for 30 years. Her thirty year anniversary with the company was this year. They gave her a a glass plaque without her name on it and a $50 gift card. It’s insulting to be frank.

[kelly]

Don't forget:

ENTRY LEVEL POSITION
-A Bachelor's degree is required
-At least 4 years of experience
-We literally want you to had cured cancer in your freshman year internship
-$15/hr

[tututinelli]

They don't care about loyalty, but still demand it...

[tancreddehauteville]

I'm 55 and I've worked for 16 different employers - I'm not joking. The reason is quite simply that either: (1) you end up with a boss that really pisses you off or (2) it's a nice working environment but they never give you a pay rise. I ask myself what is the point of even pretending to be loyal to an employer any more.

[thezwerdz]

Sadly, it took me working for two different companies to learn this. At both companies I went for a pay increase. When asked why they should pay me more, I went through a list of everything that I had volunteered to do in other departments, extra hours worked when everyone else left and didn't care, filling in for people who quit, etc. I was told "you weren't contracted for any of that."

I was asked to do it all though and did it thinking I would be a valued employee. I was wrong. The people who taught me to be that way came from a long gone era where the type of employee I was actually meant something.

[GreyRock]

Employer: Don't like it? Leave
Employee: I'm leaving
Employer: Unbelievable! Why?
Employee: I don't like it
Employer: This is a great job

[SkySong]

"Why are you leaving?"
"Because you don't pay me enough to cover my part of the rent on a two bedroom apartment that I'm sharing with six other people."

[marcs]

I recently left my job, my boss said he would give me a 20k raise which still would be less then my new position. I told him no. He said that’s what you asked for when you came for a raise 2 months ago I said true, and now that I’m leaving you decide to give me what I asked for ? Doesn’t work that way.

[ShawnC.W-King]

They expect you to sell your soul to them, but will throw you away on a whim at any moment's notice. They will fire you on the spot, but will get mad or offended when you tell him that you're putting in your two weeks... The hypocrisy is palpably disgusting.

[lfionxkshine]

"Employers are going to screw you... So screw them back!"

Sounds consensual to me

[michaelmcgee]

I've walked off several jobs without giving any notice. It finally dawned on me to go into business for myself. It was a rough 2 years learning new skills since I didn't really have any. Best decision I ever made. I work all over the country now. Charge what I want. Work when I want. I'll never let an employer decided things for my life ever again.

[albertastro]

This is true in the finance industry, and I’ve been experiencing this for the past 8 years.

I started working for a bank fresh out of graduate school for an okay salary. Raises and promotions during the first three years represented about a 5% salary increase. I moved internally, and saw a jump of 15%… followed by 5% the next 4 years.

I decided to look externally for opportunities because I had an MBA, 7 years of experience, and three certifications in my field…

I switched companies and got a 31% salary increase… On my way out the first one tried to get me to stay by matching the offer… but, if they could have done it all along - why didn’t they???

I took the new role… and plan on staying for 3 years and then moving again. I’m convinced this is the only way to get a salary that is at market value.

[Arenchilla]

I was born in the 80’s and was taught at an early age that loyalty was a thing of the past. The longest I have ever spent at a job was 4 years. I’ll take it one step further and teach my son that a two week notice is also a thing of the past.

Edit: 2 years later I’m reading this again and need to add that two-week notice is important if you are in good standing and wish to keep it that way moving into the future.

[sidzero]

To be fair, it's also a lot harder to find a company that's worth being loyal to.

[GaudyMarko]

I interviewed for a company that tried to offer me minimum wage despite having 3 years of work experience as a software engineer. Found out that their company has a bad reputation for exploiting student/new graduate labor by finding desperate people with minimal experience and locking them into underpaid contracts where they're obligated to stay with the company for X years and promising students that the training experience was valuable for their careers. Ive been telling all my school friends to stay away from those bastards ever since.

[gaiusjuliuscaesar]

The bigger a company gets, the less "human" its management becomes. We live in an age of massive corporations that are "too big to fail." It's a lot easier to treat someone like a cog in the system when you're sitting in an office hundreds of miles away from them.

[JoshuaFluke]

Um excuse me, if you work 30 years you might get a cake and a watch.