No career progression, no performance-based increment - Reporter Argus Media Employee Review

Yearly salary increments are pegged to the country’s inflation rate, meaning, no one has any motivation to work hard at all. This makes completely zero sense as why should an individual’s increment be based off an external factor like the inflation rate instead on their own personal achievements and performance? If the office is located in a country with deflation, does this mean employees have to face a pay cut? Management implicitly forces employees to look to rival PRAs or companies for an offer to use as a leverage for promotion and a higher salary. This is not a company that values loyalty or dedication. Management tries to motivate employees in other ways and telling them to look at the other “opportunities” available. Attend overseas conferences or even present at one. Attend meetings with hotshot traders etc. But remember this, no matter how well you seize these chances and do well, you are not guaranteed of any promotion or increment. The tried and tested way is to get an external offer. And so that is the ONLY OPPORTUNITY Argus can offer you - to learn as much as you can, plump up your resume, and then LEAVE the company for greener grass. Or rinse and repeat said mercenary strategy above. Because the company is so flat, it is very obvious to see those at the top vying to keep the power and benefits concentrated within the same circle. To give a simple example, in an open-plan office - the concept of which is precisely to create a sense of egalitarianism and literally remove the barriers between social classes - the CEO was personally in-charge in drawing up the seating plan to ensure everyone seats accordingly - from most senior at the back, to most junior at the front. Or another example during the most recent Townhall, when employees were told that “the lowest third will not get any pay rewards”. Leadership suffers from the Peter Principle. Those who stayed have been promoted to their level of incompetence. And because the company is so flat, they are blocking the promotion progress of those at the bottom who outperform every year into in a permanent state of oblivion until they wake up to reality and leave.