HP Employees Hope New CEO Leo Apotheker Will Restore Their Salaries
According to a recent article in the SF Gate, HP employees are hoping new CEO Leo Apotheker will be able to restore the 5 percent hit their salaries took in February 2009 when the economy took a turn for the worse. Since that time, HP has bounced back and they even gave employees a one-time cash bonus at the end of 2009 to compensate for the money that was lost. But employees feel that if the company was able to pay the bonus they should be able to restore the salaries.
Glassdoor, an online site that posts salaries, company reviews, interview questions, and workplace photos anonymously from people inside of thousands of companies, has posted over 1,500 reviews from people who work at HP. and many of the comments corroborate the sentiments reported in the SF Gate story. Here are just a few:
Senior management only cares about budgets not people.
Constantly being told to do more work with less resources.
Pay cut, frozen wages, reduced 401(k) make it feel like there is nothing you can do to have any impact on your pay.
Very talented people are now streaming out the door on a weekly basis because of the aforementioned ridiculousness of how employees are paid.
|Wait it out; what choice do I have in this economy?||2 (28.6%)|
|Start looking for a new job immediately||2 (28.6%)|
|Negotiate for other incentives that the company might be able to afford||2 (28.6%)|
|Work less; after all the company is paying me less||1 (14.3%)|
Raises are rare and fair pay is unheard of if you haven't hit your max many years earlier. Wonderful talent leaves HP everyday and new hires normally leave as soon as possible because of pay.
Low pay. The pay is in the 10th percentile of what an average engineer in the California makes. Higher management does not care about individual contributors. Higher management is only worried about Wall Street and not about the current employees.
Salaries are not fairly handled when an existing company is acquired by HP. Many employees of 20+ years had their salaries cut in half after the EDS acquisition. A large number of people are currently paid at least 20% below the current market salary for their jobs.
Read more comments on Glassdoor.com.
Barbara Safani, owner of Career Solvers, has over fifteen years of experience in career management, recruiting, executive coaching, and organizational development.
Barbara partners with both Fortune 100 companies and individuals to deliver targeted programs focusing on resume development, job search strategies, networking, interviewing, salary negotiation skills, and online identity management.
She is the author of Happy About My Resume: 50 Tips For Building a Better Document to Secure a Brighter Future and #JOBSEARCHtweet and her award-winning resumes are featured in dozens of career-related publications.