Reversing Pay Cuts - Sign of the Times

I know I've said it before but the "recession is very nearly almost completely sort of over". Don't believe me? I don't blame you.

That said, CNN Money ran a piece on Friday about employers re-instating pre-economic-meltdown salaries. You heard me right. Companies are actually going back to their employees and saying 'Thanks! We're giving you some money back."

Don't get me wrong. I think it's great that some companies are stepping up and doing the right thing. Yes, in some cases employees pulled together and took pay cuts for the whole of the company, but I think in many cases, employees felt like they had no choice. While I don't know too many people who were out of work due to the economic failings of 2009, nearly everyone I know either took a pay cut or had to do without an increase - even the mediocre "cost of living" increase. I can tell you that the "cost of living" definitely did not go down because of the economy. Nearly everyone I know was, in effect, taking a pay cut without it even being official.

Again, I think it's great that some companies are stepping up and giving back to their employees but it would be even better to see companies really manning up on this. Give those employees a raise, give them back the salary they lost during that year of cutbacks. Hell, buy them a few beers at the very least. And to all of you companies who used the economy as an excuse (because I know you're out there) - Shame on you! We all know you're not giving anything back, you're holding on to every extra percent with your grubby little paws.

On a personal note, money isn't everything. I took a pay cut for the job I'm in now but clearly, pay wasn't my #1 motivating factor (if you recall the whole quitting without a new job situation). And I don't think this is really about the money either. 2009 is not the 60s, I get it. We're not staying with one company our whole lives or devoting ourselves to the corporate overlord or developing pension plans... but that doesn't mean that a familial atmosphere doesn't lend itself to a more productive workplace. Personally speaking, I am far more productive when I am happy and I feel valued and respected. You can't put a dollar sign on that.

Read the entire article on CNN Money