At a time when office spaces are being seen as more & more of a legacy of the past & staff continues to express a lack of interest and need for them NM is doubling down on them. That sounds about right...
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Aside from NS and JES, DR has to be the biggest id--t to ever walk through the door. We got rid of one and two more to go.
A multi million dollar Human Capital Management system, Workday is no match for 2012 Microsoft Excel. Echo other leaders it humorous that we have to use excel spreadsheets to manage merit / AIP as the budget and the 'official' system is unable to handle this. Hopefully they go back out to market to find a system that can handle a basic requirement soon or have it be part of a hackathon.
Didn't DR invent Workday? Sorry my mistake he only implemented it 20 times at every company he goes to, ahh the the trick pony. You would of thought he and his minions would of fixed the way the company does compensation in the last 3 years. You have to love exporting everything into excel with <60 percent less budget that guidance.
DR I heard took credit for the NOB building project and the reason why they are reskinning it. In the same townhall he said he was the one that picked the design as well. He is NM's Seinfeld Sidler, is just around to take credit. It's clear a botoxed monkey could do his job, salmon pants and all.
Like others mentioned it will be the greatest day when he leaves/retires.
@6hez+1kZYstq7 Can confirm. It's especially disheartening because we can also see what Workday calculated that we SHOULD be giving people but then we have to run a budget report.
My leader already let us know that the merit budget was 2 percent. What "they" were told was NM pays for performance, at a flat 2 percent, HR gives guidance of 4-8 percent to move people to the midpoint but leaders do not have the ability with the budget. NM has a hard stance on cost of living adjustments, the answer is NO. The sad reality is most people are falling farther from their respective midpoint, the compensation philosophy is broke at NM.
The timing is in your face with a 500 million dollar JS mini sail. JS & DR say they invest in people but what we see is NM invests in buildings not their people.
JS lame attempt to bring everyone back.
@3dqi+1kZYstq7 If you post something mentioning people's full names, even if misspelled, the post is taken off. Hence why we typically use acronyms around these parts.
@3dqi+1kZYstq7 Yes, some s-xist yahoo posted something.
I think I saw a post about Ann and Sangeetha here few days ago but do not see anywhere now....??
If there is one bedrock of this company’s culture that will never crumble, it is the insane sense of entitlement.
If you are all that unhappy, quit.
Remember how everyone complained about how cr---y some of our other older work spaces were? John just can't win unless literally all money goes directly into your pockets, I guess. I swear, both this site and slack are turning into NM Fox News.
Shutting down over 2 million square feet of office space makes sense in this climate. Renovating an old office building to accommodate the people from the space you're shutting down that won't be going remote also makes sense.
Trying to blow smoke up my behind about culture to justify an outrageous half a billion dollar spend... Sorry, I ain't buying it.
Disappointing Reaction - not all from current employees - some from those who were forced into early retirement.
JS is promoting a culture that is no longer viable. His 'good news' is cloaked in half truths.
$500 million to have another sleek but empty building downtown? Where is the data re. the workforce of the future?
Massive bonus' aren't happening for everyone. That 150% is a sliding scale & it goes downward for most.
Highly rated but underpaid should get great bonus' & raises but those who consistently year after year who do a great job & keep the place running should fall behind?
I remember my manager telling me that I/anyone would be lucky to get one review that was 'exceeds expectations' much less two in my tenure at NM. That spoke volumes & told me working hard doesn't pay. It was not a conversation as a new employee that motivated me but I appreciated the transparency.
Agree - Pensions & Retiree Health Ins. is outdated. NM needs to bring in benefits that will attract the most talented workforce but still honor those that came before - a tough balance. Decent ER contributions to health insurance premiums & retirement plans are essential.
NM should focus on how to bring in the 'right' talent and understand that all of the jobs here do not require a college education.
BTW - professional dress means something different in 2023 but agree we should still look presentable.
Where do I work? The same company that just announced a 150% bonus. What company do you work for where you complain about benefits that haven’t existed in the industry for decades? Pension, retiree health care? Good luck finding that anywhere.
We do have a 401k-like perk, and tuition assistance, you’re just not getting a full ride. And as far as raises, people who are highly rated and underpaid do get more merit. So you’re either not highly rated or already highly paid. Boo hoo.
Your appeal to spend policy holder money judiciously should be brought up in town hall. Next time, throw on your best stained shirt, tussle your hair a bit, and grab the mic to ask a CEO that has brought tremendous success to NM why he continues to investment in d-mb things and why more policy owner money should go into your pocket.
If Downtown is such a safe place then tell me why does John need armed security and an armored car to take him to and from work? Maybe he should walk a few miles down the mean streets of Milwaukee like we will all be forced to do and worry about getting mugged, shot, or worse. The Mayor this morning needed a police escort because he clearly did not feel safe.
Massive bonuses? Where do you work? The majority of people are lucky to get a 1% raise which is FAR below other employers. 401k match is gone, retiree healthcare is gone, pension is gone, tuition assistance is gone, merit increases are essentially gone, bonuses are for the majority of us are next to nothing. Leadership needs to skip to the end of the Washington Mutual playbook and realize they are going down the same path which isn't good folks. Spending billions on LearnVest, a new jet, a worthless NYC office full of jogging suits and other trash, and now a new tower is not being a good steward of the policyholder's money. All of the SLT departures should be a very clear sign where things are headed.
What a disappointing reaction from my fellow employees. Our CEO announces we’re getting massive bonuses and a new office and all we can do is complain and nitpick. Have these people read the news lately? Bunch of spoiled children.
And did you see the people that did Q&A? Some unkempt woman in a dirty sweatshirt and a guy in a bright yellow track suit… both of which could barely string a sentence together. Our CEO has the respect to show up as a professional and deliver good news and we look like we just rolled out of bed to voice our petty complaints.
This is not surprising at all. They don't need the Franklin campus anymore. It's an outdated, what was once called, a 'disaster recovery' site. NM is not the only company moving from the suburbs where they once received incentives to be there. Companies are chasing the next tax credits and positive press trying to revive downtown.
This wasn't just a JS decision...clearly the Board supports it.
The suburbs don't attract the employees NM is seeking. Many of the 'old timers' will be displeased because they are still mourning the lack of a shuttle between the two campuses.
Watch for more layoffs in the near future so they can clear out Franklin sooner and then re-hire what & who they want when they are ready.
The point here is that although they want to attract talent that would be interested in living & working downtown....they can't grasp that people want to stay working remotely. It doesn't fit their narrative which by the looks of it is not going to change anytime soon. The question is 'will it finally be their downfall'? Probably NOT!
Is the plan to call this "Tuition Tower" or "401K Match Tower" so it compliments the current "Pension Tower" nicely?
Doubling, tripling down, on the .. culture that took many years to build, and can be quickly destroyed .. charade. The attempt to brainwash tech people into coming into the office and working for less than they could get working remotely anywhere else. Hm.
I dread the day when the once classy suit and tie NM employees start wearing neon 1990's track suits to work. Oh wait...
This idea reminds me so much of John's other failed blunder LearnVest. Apparently losing $1B on that wasn't enough and now he wants to cost the company even more before he leaves.
Will John be handing out bulletproof vests or assuming full responsibility for the safety of employees? The reason everyone is leaving downtown is because of very real safety concerns. Most people don't even want to go downtown on their own time.
Can we shut down NY office now too?