March 27, 2020

Today’s story is about a difficult financial situation at work.  How do you keep employees engaged when money is tight?  And what can you do when your company's decisions impact your own finances. 

My co-host Anna and I talk through this in the latest episode of the podcast.  Find questions to ask yourself below.

I was feeling disillusioned with my position and firm because they had recently changed their raise structure. Instead of offering yearly raises, they were going to offer quarterly 'bonuses' that would in-turn 'make up for' a yearly raise.

When no one had received one after 9 months, several of us became frustrated. We called a meeting with the partners to discuss the situation and were met with hostility. They defended their decision by saying the market was tough and the profits weren't there and that if we really wanted the bonuses then we needed to bill the clients more. We were already at a 160/hour minimum billable requirement and to increase that would mean working 60+ hours a week. I even attempted to speak with my boss about it privately and he ended up yelling at me in front of everyone.

I left that firm about a month later and now am making well over 30k more a year. In addition, 2 other paralegals left and so did 2 attorneys. To my knowledge, the firm is still struggling and morale is very low.

Ask yourself...

What are your expectations for compensation and growth at your company?

If your company offered you a less attractive compensation package, what would encourage you to stay?

If you're managing people...

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