Considering all the talk about decreased number of in seat promotions from 4% to 1 % of the total population or the re-leveling, on the other hand lots of directors been promoted to managing directors doesn’t make the moral any better. Despite the inflated cost without any benefit, to be consistent there should’ve only been 75 to 85 MD promotions overall.
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I’m a former employee. When my coworker, who did the same exact job as me, as me, and got the same rankings me was promoted from VP to SVP, I had a contentious phone call with my manager. Needless to say it didn’t go well. I told her all of the extra things I did, and she had bs excuses for each one of them. One example is when I told her that I computerized certain forms into a new system, I was told well you weren’t the only one who worked on that project. I said to her, so does that mean when I go above and beyond it should just be a solo project? She told me in order to get promoted I have to do more blah blah blah but with no concrete ideas of what I could do that would deem myself worthy of a promotion. I then told her and which probably sealed my fate was I’m not falling for the carrot and the stick. I was at the company a very long time and always got ones and twos for my ratings. I never once got lower than a two From that point on, I just did my job and that’s it. Two years later I was laid off, which is what I wanted, so they did me a big favor.
Yet they make it hard to move to the next level for staff level positions. Why is it hard to get an in role promotion at Citi? Why do you have to leave your current role to get promoted? You are told to part the Red sea and when you do, still no promotion or good raise.
It's very possible that the Disgruntled, resentful and Fvcked Over Employees have a role in why Citi is still lagging behind its peers and Not achieving its goals. The remaining lower-salaried Minions-Employees who see that Citi is promoting even more Undeserving MDs than last year thereby "Saving" more money because Citi is destitute, by increasing their Salaries and Bonus percentages which is based on Salary, will retaliate or have already been retaliating by sabotaging work and projects as detailed below:
Competitors and other financial institutions generally do Not demote or "Re-level" employees because the Employer will be Sh00ting itself in the foot for several reasons.
Demoting aka Re-leveling is allowing Trojan Horses to remain inside who can do damage to the company. Demotions sow the seeds for Employees ending up with lower morale because of the lower salaries, lower job titles, lower Bonuses, being forced to relocate etc., which leads to Anger, resentment, doing the bare minimum work, working at a slower pace, Not working at all etc..
While inside the company, Employees can literally surreptitiously damage, sabotage or throw wrenches and problems into projects and work, including other employees' work. What can they lose by doing so ? They're already being managed out, FVCKED Over and encouraged to quit voluntarily.
These are some of the reasons why most Employers just cut-off the Employees instead of demoting them. They just cut off the umbilical cord.
9 hours ago by Anonymous Post ID: @czx+1vP11bHF
Take it from the poor and give it to the rich