I have been in my job for 2.5 years and have been a dedicated employee through some really difficult patches as I stupidly believed I would be rewarded / recognised for my hard work and loyalty.
There is far too much to mention here but essentially the company has really high turnover, everyone else has been in the company a year or less, and in the last 3 months all 4 people on my team quit one after another for the same reasons, leaving it as just me and the boss, and then a few other people in other areas of the business.
In 2.5 years I have never had any opportunity for advancement or a pay review and in fact took a pay decrease this April when they told me they couldn't sustain my salary. I was assured what they were offering me was the absolute top of their budget and a huge stretch but that they were trying to make it work for me. I felt they were sincere and regretted what they had to do so I accepted. I later found out two colleagues who started recently were offered almost the same salary with very little difference but I decided not to say anything at that time.
This month another colleague who started 4 months ago and works alone in one area of the business received a promotion to a senior level - the only employee to be at that level. I was very disappointed I was not considered for this and said this to my boss which prompted him to arrange a performance review meeting with me. I was fully convinced that this meeting would be positive, that I would be recognised for not giving up when all 4 of my team quit, and for the fact that I have essentially taken on a higher level of responsibility without the title or pay to match.
Not only am I now solely responsible for training in new staff, I am allowed to deal directly with clients, close business deals and approve budgets running into 5- or 6-figures without consulting the boss which is something no one else at my level is allowed to do. This to me shows that the quality of my work is obviously acceptable so there should be no reason not to offer me a promotion / pay raise or some kind of advancement opportunity. For context when I started this job I had to report to two different people and have all my work reviewed before being approved, was not allowed to engage directly with the client and was always working with one or two others on projects and never allowed work on one alone.
At my performance review I was told that due to my poor performance over the last 3 months I was not eligible for anything at this time. My boss said that although they recognise the performance issue is due to the rest of the team quitting he still cannot ignore the fact that we have been losing business due to not meeting our deadlines and that I need to prove I can work as well as I used to, once again. They acknowledged that there had never been an issue with my performance in over 2 years but that the last 3 months did not reflect well on me. I found it incredibly unfair that having stuck by the company for so long, with colleagues coming and going every few months, that as the last one remaining I am now being penalized for issues beyond my control.
After many hours of discussion my boss agreed that if I can improve my performance again and show I can 'move past things' that I can be considered for advancement or a pay review. My issue is that I have no motivation to work any longer at a level I am not being recognised at and I'm not sure I should believe that things will change any longer. The offer feels like a carrot dangling and that in another few months the goalpost will be pushed further again.
How do I handle this? Do I go back and give my boss an ultimatum? Do I just quit? I really enjoy the job otherwise and would be happy to continue if I was appropriately compensated and recognised for my work. It is within the career I want to pursue and in other ways fits very well with my personal life but I am just feeling completely taken advantage of lately.
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