Tag Archive for bonus

Is Your Company Making You Richer?

June 1, 2018 2 comments

Are you enjoying the windfall your company has thanks to their big tax break? They’re sharing it with you, aren’t they? Did you get a bonus–that one-time, no-future-bonuses, no-raise bonus? How about an increase in salary or benefits?  Probably not.  Read this Bloomberg article, What Companies Are Really Doing With Their Tax Windfall (So Far):

Despite the headlines, it turns out most companies aren’t doing much at all with their tax savings, according to a new survey from Willis Towers Watson. At least not yet.

The HR consulting firm asked 333 employers with at least 1,000 employees what they have done or plan to do as a result of the Tax Cuts and Jobs Act. Only 4 percent of companies said they had “increased wages for all employees”; an additional 3 percent said they planned to do so in the next year. While an further 13 percent said they’re “considering taking action this year or next,” a full 80 percent of companies aren’t considering giving raises at all.

continued………….

 

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A Taxing Situation, with a Bonus

January 16, 2018 Comments Off on A Taxing Situation, with a Bonus

AT&T will give one-time $1000 bonuses--and no wage increases–but to a maximum of 200,000 employees (how many will really get it, and will they be mainly everyday workers?).  Meanwhile, they’re laying off 600 workers (to start with?).

Comcast says it, too, will give %1000 bonuses, to “eligible frontline and non-executive employees.”  Sounds like the worker bees will be getting the money, but do they fall into the undefined “eligible”?

By the way, both AT&T and Comcast have already announced broadband and cable TV price hikes for us starting soon.

Others who have announced coming $1000 bonuses (without much detail) include Bank of America, Nationwide Insurance, JetBlue Airways and US Bancorp. Everyone is jumping on the bandwagon in light of their corporate tax cut from 35% to 21% under the new tax plan. These, too, are one-time bonuses, not the pay raises that proponents of the plan promised would result.

Then there’s Walmart.  They’re raising pay to $11 per hour and giving bonuses to some of its workers–and laying off thousands of workers as it closes 63 Sam’s Clubs.  And they’ve just announced layoffs at their Walmarts.

Note that these bonuses cost the corporations far less than pay raises would over time. This year, they’re a boon to the worker, although he’ll be taxed on the bonus, and a tax write-off for the companies. The following years the companies continue to enjoy their decreased tax burden, but what about the worker, who doesn’t see another bonus or pay raise?

Is this really a beneficial result of the new tax plan or actually a PR sleight-of-hand?

 

 

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Work for Free?

October 9, 2015 Comments Off on Work for Free?

Work for free!  It will be fun!  It’s a chance to learn how the business operates while you pack and ship orders!  You’ll get a free lunch!

URBN (they own Urban Outfitters and Anthropologie) was hoping for a good response when they sent an email  to their salaried employees asking just that.

Would you give up your time to volunteer to help so your (large) company can meet the demands of a busy month?  Many people did, and even salaried employees volunteered, although they were denied the opportunity because that’s against labor rules.

Okay, so volunteering (assuming there was no corporate pressure) to help your company may be a sign of loyalty.  If so, why doesn’t such loyalty go both ways?  If they need more people to work, even for only a month, and if they can’t find enough part-timers, why not reward the faithful with a monetary bonus?  A business that large with the “problem” of having too many orders to fill should have enough in their budget to show respect for their workers.

 

 

 

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