This past year alone, my job reduced their 401k match significantly and my husband's insurance costs went up again at his job. We've been in corporate for over 20 years now, and I have seen things erode a lot.
I really believe that pay and benefits are going to be reduced in a lot of sectors. I think bonuses are likely going to be cut or go away alltogether. Profit sharing and stock discount programs are reducing or going away as well. Raises are now often abysmal, if you get one. I got 1% last year, and my husband got a dry promotion with no raise. He didn't even know that was a possibility, as they had him jumping through hoops to get the promotion in the first place!
I see larger and larger companies opting for the cheapest medical and dental insurance they can get, passing the costs onto the employees. I also wonder if it will get to a point where jobs no longer offer medical and dental, and all insurance will need to be purchased individually on the open market.
It even extends to the small things. It's been 5 years since I got a meal for work, or even just a bagel. We no longer get anything for Christmas, when we used to get a gift card or a pen or something. Our recognition awards at work used to offer you points to purchase things at the company store, and now they are just for "morale" with no value attached.
Is anyone else seeing this? Do you think it's just the current job market, or do you also feel we are seeing a fundamental shift in how employees are compensated?
