> Everyone expects layoffs and pay freezes (or even pay drops) on recessions. Why aren't the pay raises in boom times commensurate?
Why would you expect those? This is capitalism. Profit-making entities operate like a ratchet. They'll forward their losses to employees during recessions, but they'll pocket the gains internally during booms. Sure, redirecting some of the extra profits towards employee retention is a sound strategy, but I fear costs of turnover escape financial models in most businesses.
This is honestly the sad truth when were not citizens at our jobs. Until we step up and start building employee owned and managed democratic companies this will continue to be the norm.
Why would you expect those? This is capitalism. Profit-making entities operate like a ratchet. They'll forward their losses to employees during recessions, but they'll pocket the gains internally during booms. Sure, redirecting some of the extra profits towards employee retention is a sound strategy, but I fear costs of turnover escape financial models in most businesses.