Learning the hard way: results equals reward.
Once a year, the company I work for performs a Performance Review, which is linked to a Pay Review. The general idea is that you get a monetary reward if you have performed well in your role. In 2024’s tenuous financial climate, a crucial thing to remember during the review time is that excellent performance equals more money.
4 min readAug 25, 2024
The Era of Cheap Money
I’ll begin with a recap of the past few years. From 2021 to 2023, it’s been easier to get a “cost of living” pay rise because the company I work for has had higher profits.
Higher profits = happier shareholders = company is more generous with the money.
This has meant that we’ve been able to reward everyone, even if their performance wasn’t outstanding.
But in early 2024, it was hard. In an industry where layoffs by big tech companies were commonplace, we were lucky — the large organisation that I work for didn’t let go of any staff. But this has a tradeoff.
