I stopped putting in extra effort a while ago. I just do my work and unplug, no more doing anything late. Whatever happens next, I’m ready to move on. The way things are going, it feels like we’re all just waiting our turn.
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@mc Please. If you are OP and so easily convinced by
You make a good point. It is a hard thing to dismiss an employee knowing the toll it will take on them and their family so the tendency is to tell them how talented and valued they are and how it has nothing to do with their performance but that's generally not the case and telling them it is just sets them up for future failure. As PLs we should be honest and tell them "Look, you just weren't pulling your weight and we're a public company, not a charity, so we can't continue paying you for value you're not providing." That is far more likely to direct them toward success in their next role than to create the illusion that there's nothing they need to improve.
well...
Here's the test. Look at all the people who were managed out or laid off. Where were they in three years? Seriously. Look. I can't think of a single one who isn't better off, much further up the career ladder and making more money. CIOs. Top salespersons. Developing and delivering.
A great leader, not manager, would not need to ever say to someone that they aren't performant as they are let go. Would never happen. Why? Because a great leader would have coached and made clear for a long time prior.
Getting rid of someone means the hiring process failed or the manager and company did. Every single time. Ignoring abuse and other external factors. I'd fire a manager who said "Look, you just weren't pulling your weight" in a departure meeting.
@mc /s
@m2 As the OP, you've given me a lot of food for thought and I now realize the problem is with me not Schwab. I am going to hold myself more accountable and recommitt to this company that has given me everything good in my life. Thank you so much for opening my eyes. I truly regret the poor attitude I've had and will redouble my efforts to make the Charles Schwab Corporation the world's best and most trusted brokerage firm. I would also like to take this opportunity to thank Rick, Walt, Chuck and the entire leadership for building such an extraordinary place that has given me such a grear life. God bless you all!
@m2 I agree wholeheartedly. The truth can be a painful thing to hear but no growth can happen without pain. I applaud your honesty.
@m6 BINGO!
"we can't continue paying you for value you're not providing."
A simple but elusive concept. If every schwabbie kept that in mind there'd never be a need for another layoff.
@fh You make a good point. It is a hard thing to dismiss an employee knowing the toll it will take on them and their family so the tendency is to tell them how talented and valued they are and how it has nothing to do with their performance but that's generally not the case and telling them it is just sets them up for future failure. As PLs we should be honest and tell them "Look, you just weren't pulling your weight and we're a public company, not a charity, so we can't continue paying you for value you're not providing." That is far more likely to direct them toward success in their next role than to create the illusion that there's nothing they need to improve.
@gg is a loser.
@fh So true. The laziness in this place is astounding. Definitely would not have flown at Putnam. One of the first questions I ask when interviewing people is how important "work-life balance" is. If they give an indication that it is important, I won't hire them. Period.
The trouble is that there are so few people worthy of recognition these days.
So are we hiring poorly, managing badly or failing elsewhere? Seems unlikely that what you see as systemic unworthiness is a function of individuals across the country.
oh come on. you must not work in the wonderful world of mr. says. i watched the denver crew get rid of people because they do not like someone and because someone challenged others. many smart people and its a real shame. kool-aid will be served in the cafeteria later for those who need it
@fh That may true in your department, but not so in others. I have seen people who wear Schwag with pride, show up to every event, and work beyond hours get let go because someone needs to reallocate salaries to a new role for a friend.
@dx I call B.S.. I have never seen "great people" let go. The people we've laid-off have always fit the same profiles: clock watchers who are iut the door by 3:59.59, people who fail to adapt, people who show no initiative, people who are unwilling to stray outside their lane, people who rest on their laurels, quiet quitters. No company I have ever worked for has gone to the lengths Schwab has in recognizing and rewarding hardwork. The trouble is that there are so few people worthy of recognition these days.
As a PL, I can unequivocally say merit is rarely considered in eliminating STS positions. The other groups I work with seem similar.
We cut based on job, rarely repositioning strong employees into other roles. Then the exercise becomes a popularity contest. We lost great people in both the big and baby layoffs while retaining near worthless bodies. Why? Someone liked Joe and didn't like Jim or Jim was in the wrong place on an org chart.
OP will likely find good work life balance rewarded when compared to burnout and frustration. Those rewards will not include major promotions or raises. It should be crystal that we are in a Street motivated cost cutting phase.
The days of hard work, recognition, promotion and advancement are long behind us. I was told to get more out of my team earlier this year. When I asked about bonuses and promotions the answer was clear. Nope.
@at Can't wait to see your tune change when they axe your a$$!
That's quite a defeatist attitude there! As someone who has been involved in many decisions on positions to be eliminated, I can tell you it's based almost entirely on merit and your attitude does not bode well. Yes, there will be more cutbacks but if you don't want to be one of them then I strongly recommend you roll-up your sleeves and put in extra effort. When others lose their sense of commitment, as often happens when companies need to make tough decisions, it gives you the opportinity to shine all the brighter. These are truly the times when careers are made. I urge you to embrace the opportunity you have.