This is the worst "recession" in my memory. Last week I walked into work on my 2nd anniversary there. I had 2 emails waiting. The first was a congratulatory letter for my anniversary, the 2nd was a letter letting us know that the company would no longer be contributing to our 401(k) accounts.
Now when I started working companies vied for you by offering benefits, we had these great medical packages, dental benefits, vision, retirement, disability, and all kinds of time off for vacation, personal AND sick days.
Over the years I have seen these benefits slowly be eroded. I currently get 1/2 of the time off I used to get. The benefits are fewer and more expensive on my part.
To have the companies contributions to my retirement account ended (ostensibly temporary)was a blow I never expected. Unfortunately I have found that when a company "temporarily" stops "giving" something to employees... they never get it back.
Today I found out I am not alone. According to a story on MSNBC today http://www.msnbc.msn.com/id/31488492/ns/business-personal_finance/ at least 25% of employers have stopped this practice. Where does it stop?
Companies now seem to resent that they have to actually PAY people to work for them.
What happened to business morals and ethics?
"Of the 107 human resource and 112 senior finance executives polled, 63 percent said employee concerns over personal finances are creating a more difficult work environment."
ReplyDeletewould love to know the details behind this statement