Stop thinking tenure gets you promotions — it doesn't. A former senior leader at Amazon explains what actually works.
As a former senior leader in analytics roles at Amazon, eBay, and other organizations, I've frequently witnessed employees cite tenure in their list of reasons for deserving a promotion or a raise.
I was reading about a similar situation where an hourly retail employee was lamenting about receiving a 2% raise, even though she had been an employee for five years. In a capitalistic world, companies care about getting the most value for the lowest cost. While this feels brutal and unfair at times as an employee, most individuals behave the same as a company if they had to give out promotions and raises.
If the person with no experience costs $40,000/year, but helps the company generate $100,000 in sales revenue, the company is getting a 2.5x return. But if the company pays the experienced person $200,000/year and that person help the company generate $1,000,000 in sales revenue, the company is getting a 5x return. In this case, the company is getting more value by paying more, but paying more doesn't always equate to more value.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Songs Get Stuck in Your Head—and How to Stop ThemMaybe it’s a commercial jingle, a TikTok song, or a new summer bop. Here’s how to trick your brain into hitting pause.
Read more »
I made nearly $1 million in revenue my first year on EtsyI made nearly $1 million in revenue my first year on Etsy. Here's how I did it and my best tips for shop owners.
Read more »
I turned a 100-year-old home into a 70s-themed AirbnbI renovated a 100-year-old home into a 70s-themed Airbnb that brings in thousands a month. Here's how we did it.
Read more »
17 stocks set to crush forward earnings expectations: Goldman SachsGoldman Sachs: These 17 stocks could earn much more than the rest of Wall Street expects following a strong second half for markets
Read more »
Why Marc Andreessen is urging billionaires to homeschool their kidsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Architect's concrete bunker for displaced, unhoused people: photosA famed architect designed a futuristic fully recyclable concrete bunker to house people who have been displaced — take a look inside
Read more »