In the latest string of bright ideas to come out of executive mgmt or Hr (who knows who comes up with these ideas), it’s been decided that there will be no more promotions. So if you continue working hard, taking on more responsibility etc in the hopes of one day getting a promotion, well it’s no longer a possibility.
15 replies (most recent on top)
@Post ID: @euve+1qzbldfO
I am a believer in you give a job, give a promotion to the most qualified person who is going to contribute to the success of the dept.
Tired of seeing unqualified people hired, seeing them mess of the smooth routine of a department. Then finding the smartest person in the department and using them to help them do their work.
Telling this person it is a great opportunity to learn new skills and take on new responsibilities . The poor underling worker makes the unqualified Boss look good and the Boss gets all the credit. (aka nice raises and bonuses)
I am assuming it is being done to bring in more so called minorities into management positions.
Last year an MD spot opened in my division for the first time in like 3-4 years and they forced our SVP to interview a pair of females from under represented groups from totally different business units and pressured her to hire one before she ultimately went with a person who had climbed the ranks.
The new MD has been great for morale as it shows you can still work up and you have a voice of someone who has done what you do.
Post ID: @cgur+1qzbldfO
People that are currently AVPs and VPs levels will not be able to get promoted within their teams. If you want to get a promotion, you'll need to apply for open reqs.
Why this is bad?
If you're VP or AVP that worked tirelessly hard and feel you deserve to climb the next rung of the corporate ladder, you're management team would not be able to do anything to get you promoted.
If you're not a AVP or VP, this may still have an impact on you. For example, you may have people (AVP,VP) within your business unit that will feel defeated and will focus more on looking for jobs elsewhere. They will quiet or quiet quit and you will need to pick up the slack to do more work.
At the end of the day, we're treated as bunch of pawns that senior management use to soley enrich themselves and not face any repercussions for bad performance and decision making. Instead they get rewarded with better compensation every year such as Captain Ron getting $18m to buy more sailboats.
@Post ID: @4nzv+1qzbldfO
Don't forgot the cost of a good bottle of Dom Perignon champagne, Caviar, Shrimp.
Also the cost of having a private cook, housekeeper.
Some of them can no longer buy French Dom Perignon champagne and sadly have to buy domestic champagne produced in California
Please be specific about no more promotion. Which divisions? No promo til when?
There isn't enough money to go around for us 'underlings'. It's top priority for our dear senior leaders to keep the lion share of the money as they feeling the cost of inflation. Do we want them to struggle paying important stuff such as their additional homes, sailboats, exclusive memberships, etc?
Well, good luck with bonuses. I've seen the numbers and they are horrible (always have been, but lower than last year's)
@Post ID: @2dlb+1qzbldfO
Agree poor mgmt unrealistic projects did cost them a lot of money
But remember the company been doing layoffs, outsourcing and brining in H1b workers since 2006.
The company no longer has competent leaders with vision
Post ID: @2idm+1qzbldfO I think outsourcing and bringing on H-1B's is a reaction to recoup the money lost due to poorly managed projects. If you look around, you will find a number of projects that spent a lot of money and in the end the benefit from them was minimal.
@Post ID: @1xhe+1qzbldfO
That is how it used to be, giving 100% and 100% effort in doing a quality job.
But as I said many times the big concern is we have to keep cutting cost through layoffs , outsourcing and bringing in H1B workers.
Saving money is the top priority , quality work is way down on the bottom of the list.
That’s how you keep poor performing people while the high performers move out. I thought the idea to keep quality is to reward quality?
That's ok. Support the 18million dollar ron. He needs another sail boat to race. You wouldn't want him to miss out on further impressing his Fed reserve folks since he is on the Boston board.
@Post ID: @huu+1qzbldfO
This is part of the company long term plan.
Double the even triple the workload of the few remaining workers.
They quit due to burnout, You don't have to give them severance
Demoralize them more by now not giving promotions, they quit No severance.
The timing is no coincidence. They want high attrition either before or just after you get your bonus. Whoever is working at the top is bipolar. They “say” they want an engaged workforce, highly valued, etc, but the actions and new policies have been saying just the opposite. New Performance tracking where no one get above an achieved unless they are on a pet project, return to office 4 days for North America and now no more promotions (though wage increases are still almost zero for most). It can only be assumed that they WANT people to quit. Nothing else makes sense.
Company translation: There's no more incentives for people in a certain level to take on more responsibilities in the hopes of being rewarded with a promotion. Don't forget of the mandatory return to office policy where you have to sit alone in the office while your staff (offshore workers, contractors) is working remotely at home. Now, when will you put in your notice to quit? We are waiting to collect our next bonus.