{"id":468088,"date":"2022-06-27T16:38:07","date_gmt":"2022-06-27T13:38:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/"},"modified":"2022-06-27T16:38:07","modified_gmt":"2022-06-27T13:38:07","slug":"pay-compression-is-widening-the-gap-between-new-and-existing-employees","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/","title":{"rendered":"#Pay compression is widening the gap between new and existing employees"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a307fdd62442\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a307fdd62442\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#%E2%80%9CPay_compression_is_widening_the_gap_between_new_and_existing_employees%E2%80%9D\" >&#8220;Pay compression is widening the gap between new and existing employees&#8221;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#Algae-made_glass_and_cows_blood\" >Algae-made glass and cow\u2019s blood?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#Resentment_festering\" >Resentment festering<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#Vestiaire_Collective\" >Vestiaire Collective<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#eBay\" >eBay<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-compression-is-widening-the-gap-between-new-and-existing-employees\/#UiPath\" >UiPath<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CPay_compression_is_widening_the_gap_between_new_and_existing_employees%E2%80%9D\"><\/span>&#8220;Pay compression is widening the gap between new and existing employees&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image?fit=796%2C417&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2022%2F06%2Fdavid-fintz-z-Jaxjj0KVY-unsplash.jpg&amp;signature=b37942ec3361413492bf96c74a1a71b1\" \/><\/p>\n<div id=\"article-main-content\">\n                            Business owners have known the value of loyalty for a long time. From customers collecting stamps for retail loyalty programmes, to Air Miles, coupons, plastic cards and mobile <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s, the mechanism has changed but the rationale remains: repeat purchases are key for growth in almost all businesses.<\/p>\n<p>Similarly, businesses also know that employee loyalty will help a company advance. From driving positive customer experiences to improved productivity and production, the benefits of employee loyalty are also well documented. So why then did a recent <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> post on rewarding existing employees cause such a stir?<\/p>\n<p>The LinkedIn <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6930207024005738496\/\">post<\/a> in question was posted by Robert Sweeney, CEO at Facet and former Netflix employee, who detailed how he had been only working at Netflix a few months when the company hired someone new into the same position but at a higher salary.<\/p>\n<div class=\"inarticle-wrapper channel-cta\">\n<div class=\"ica-text\">\n<h4><span class=\"ez-toc-section\" id=\"Algae-made_glass_and_cows_blood\"><\/span>Algae-made glass and cow\u2019s blood?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Experts and artists discuss the future of sustainable material design<\/p>\n<\/div>\n<\/div>\n<p>Netflix increased his salary to match, a practice Sweeney has carried through at Facet. He wrote:<\/p>\n<p>\u201cIf you have to pay more to hire new employees that means the market has gone up and your current employees need a raise to match. Don\u2019t punish loyal employees for sticking with you by allowing their compensation to fall behind the market.\u201d<\/p>\n<p>Seems pretty right on, right? Well, reactions were mixed to say the least. While loyal employees commented in agreement and praise \u2014 with one eye on the rising cost of living. Others argued against the practice, saying that in this difficult hiring market, companies need to offer above market rates to attract talent and that, when it stabilizes, they\u2019ll be at a competitive disadvanatge to those that didn\u2019t hire during this time.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Resentment_festering\"><\/span>Resentment festering<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"background-color: rgba(46, 146, 255, 0.2);\">The reality is, it\u2019s<\/span> demotivating for loyal employees to see a newbie breeze in on a higher salary, especially if it\u2019s in a role with less responsibility. That annual 3% salary bump loyal employees get \u2014 if they\u2019re lucky \u2014 is hard-earned. Resentment can fester and grow quickly in this environment.<\/p>\n<p>That same Jabra report also says that, since the pandemic began, 48% of all employees surveyed have considered changing jobs. In one short year, we\u2019ve bounded from The Great Resignation to the Great Layoff, with 17,000 tech workers laid off in May 2022 alone. Meanwhile, a Microsoft <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/workplace-automation-can-help-bored-workers-driving-great-resignation-2022-6?r=US&amp;IR=T\">survey<\/a> of more than 30,000 global workers earlier this year found that four in 10 were likely to consider changing jobs in 2022.<\/p>\n<p>For those companies who are hiring, particularly into remote roles, there is a lot of strong talent available at the moment. And at the same time, between inflation, investment freezes as interest rates rise, and looking ahead to a looming recession, many companies are acting cautiously.<\/p>\n<p>The consequence of these elements is what labor economists call \u201csalary compression.\u201d As companies tighten their belts on current salaries, they\u2019re also paying higher salaries to attract new talent, causing the gap between the two to widen.<\/p>\n<p>On paper, your salary is meant to align with your experience, results, and skills, but that isn\u2019t always the case. Job hunters have always known that being a new recruit is the most powerful position to negotiate a better salary. If you are demotivated by salary compression in your workplace and feel undervalued, it may be time for a change.<\/p>\n<p>List and put in order your priorities for a new role and consider: flexible working, salary, title, benefits, management, progression, hours, company mission, and company culture. Then hit up the TNW House of Talent Job Board to see what\u2019s out there. You\u2019ll find good starting salaries at plenty of organizations. We\u2019ve got three to check out below.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vestiaire_Collective\"><\/span>Vestiaire Collective<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The premium global online marketplace for pre-loved fashion is hiring for a number of roles in Paris and Tourcoing, Vestiaire Collective has 650 employees and offices around the world. The company is now hiring a Senior Global Affiliate \/ Partnerships Manager (F\/M\/D) to manage the global affiliate programme, and direct acquisition partnerships and nano influencers. The job spec mentions significant investment in learning and growth, alongside a competitive compensation and benefits package.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"eBay\"><\/span>eBay<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A brand that needs little introduction, eBay is hiring roles across the US, and in London, Amsterdam and Paris. This Senior Java Software Engineer role will suit an experienced engineer looking for a competitive salary and generous benefits. Based in London, eBay also offers support for working from home. The successful candidate will be part of eBay\u2019s Shipping agile teams, working with Java\/Spring across the entire eBay stack, including internal and external APIs, systems, services and tools.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UiPath\"><\/span>UiPath<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A leader in robotic process automation, UiPath helps companies reduce costs and operation errors by automating repetitive work. It is hiring a Product Manager \u2013 Task Mining for its office in Eindhoven to define a vision and strategy for products in the Task Mining space. This role involves outlining and progressing a product roadmap and developing new features by working closely with in-house design and data <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a> teams.<\/p>\n<p>Keen to work with the biggest and most innovative brands in the industry? Visit the House of Talent Job Board now, and bookmark the link for regular check-ins\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/pay-compression-widening-gap-between-employees\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Pay compression is widening the gap between new and existing employees&#8221; Business owners have known the value of loyalty for a long time. From customers collecting stamps for retail loyalty programmes, to Air Miles, coupons, plastic cards and mobile apps, the mechanism has changed but the rationale remains: repeat purchases are key for growth in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":468089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2022\/06\/david-fintz-z-Jaxjj0KVY-unsplash.jpg&signature=98f4976c8a341971de7f4054caca830f","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-468088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=468088"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/468089"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=468088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=468088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=468088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}