A community of 30,000 US Transcriptionist serving Medical Transcription Industry

okay it's mid summer - where is the plan

Posted: Jul 17, 2012

they said early summer but I think we can safely say it's mid summer now. Where's the compensation plan?

The JP Morgan/Chase - deal may have changed all that.

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ya think?

I don't know - where is the plan

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I wish they'd say one way or the other. I have a decision to make.

Thinking same thing - improved communication?

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My first thought is they do not have one, the lady went on maternity leave and then with the JP Morgan buy out who really cares about the workers? We really are the last concern.

My second thought is they are stalling as long as possible (I think the buyout is mid July) so they do not have a mass exodus of employees before the buyout. It would make the new company furious to have a high percentage of employees leave. Every time they announce a rewards plan (pay cut) they lose more employees. Why do you think they are overhiring right now? Because they know many of us will see the new comp plan and just give our notice.

Improved communication means there actually had to be communication in the first place to improve. Early summer has passed, imagine that they did not keep their word. All this speculation and guessing by the employees just makes the company look bad. Just come right out and tell us what we already know is going to happen. "Due to competitive global market... realign wages... reduced compensation..."

There is no plan - Dinosaur

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Their idea of a "compensation plan" was to enhance the benefits package. They worked hard for years reducing our pay to minimum wage, and they have no intention on giving that money back to us. If you read some of those emails carefully, it's all corporate speak (what we call BS), that is meant to string us along because they still need us.

For example from an email: "We are putting more money in your pocket by: Increasing Company paid co-insurance from..." (yada, yada, don't want to get in trouble for quoting too much info). "These enhancements are an important step in establishing a comprehensive benefits program that is attractive to employees. This is by no means the end. Managing employee compensation and benefits is an on-going process, and we are always looking for more ways to enhance benefits, add wellness programs, and offer attractive rewards to our dedicated staff."

No where do they state an actual monetary raise, they instead say "we are putting more money in your pocket by..." and "we are always looking for more ways to enhance benefits, add wellness programs, and offer attractive rewards to our dedicated staff."

Not to mention the benefit package is only in effect for six months, and a new plan will be put in place in January. I take this to mean that the deal with Morgan/Chase has been in the works for some time, and come January the benefit compensation plan is no longer their concern. Usually I'm an optimistic person, but I've been here a very long time, and with each new owner I hope for the best, but at the same time I'm bracing myself for the next slap in the face. This is all speculation on my part, but I have seen some of these same things happen in the past.

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