Be prepared because we all know this is happening even though they deny it. As a mgr i can confirm they are absolutely reducing teams 25% and behind your reporting mgrs back. Most of my team was entered to meet by me and all of them show below after i went in and looked. Im not delivering any reviews when i did not do this and cannot tell people why it was done. Beyond pathetic and unethical. Open up a case with HR and ethics. Im telling you anyone below will be fired without severance but with an active case they will offer you something to avoid a lawsuit
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Just popping in to say hello from another bank.
Forced rankings, or what we call stacked rankings comes from McKinsey.
These banking executives across the industry have no vision of their own. They are all listening to McKinsey who is selling them all the exact same playbook.
I left right before this year-end sh*tshow, but the main reason was I couldn’t stand the incompetent, selfish and low life manager anymore.
@w7 theyre definitely using PIPs against people even if you meet. Seeing it first hand right now with staff who were on it last year
@rz the PIP would be 30, 60 days, some
Short period so they can fire you if you don’t improve. If you pass the PIP it’s closed but then the form tells you that the performance warning remains in effect for 12 months. They no longer offer GO option. And if you quit, in most states you are no eligible for unemployment. You’d have to check your particular state laws.
@fz you win the most mo--nic comment award
So, if your most recent review is less than an Achieved/Meets you are being put on a PiP for 12 months.
What about the GO option, is this still offered?
I would take it, with or without severance. This way at least I can get unemployment. If I just quit to avoid the PIP circus, I won’t be entitled to get unemployment, isn’t it? I reside New York State.
@qv of course you will. Hr works for who and as a mgr i can confirm. Seeing it right now with my team. Its the worst its ever been and reduced ratings are being done for anything they can find for you
@qv the percentage rankings have been a thing for years. But I did see a slide with my own eyes, detailing the percentages for each category. As of last year, if not the year before, Oracle pushes an automatic PIP for anybody in the below two categories. On the form itself it states that the performance warning remains in place for 12 months.
@jh can anyone confirm this? received conflicting info from HR
@jj they are paying poor performers. The ones who have an active complaint to HR. Ive witnessed it the last several admins in my group and yes mgmt has had to mark staff ratings accordingly but nothing like we have been seeing the last couple tears and nothing like this wear they are hitting people below for anything they can think of to avoid paying severance
This comment on HR delay is true. My BNY department complaint to HR took 5-months for a response and for an investigation to begin.
@e8 good luck with getting HR to respond before you are terminated. Someone that was force ranked at mid year just had a response to their ticket last week. They were terminated in Sept. This place is absolutely toxic. Get out while you can.
This is not new. A little history;
Managers have been forced to rank for close to 10 years. It started with 10% had to be Below. At the time, only those lower than managers were force ranked. Then they moved it to all levels. Managers input their ratings to Oracle, before even writing the review, upper management reviews and will tell them “nope you don’t meet the 10%, find more bodies”. At the time, those laid off still received severance.
Then, the bank invented PIP or GO. (You can search the thread for this and all the upheaval it created). Those ranked a below were given a choice; go on a PIP and hope you come out the other end, or GO now with 12 weeks severance.
Someone came along last year and said “why are we paying poor performers to leave?” Hence the change in the severance policy that you are not eligible if your most recent review is less than an Achieved/Meets.
@ ID: @j8+1k8e2kcpa
15% Achieved Some Expectations
10% Did Not Achieve Expectations
Both of these, being less than Achieved, earns you an automatic PIP in Oracle, no merit and no incentive, and the bank a pool of 25% they can terminate without severance. Those who survive the PIP remain on “warning” for 12 months so you cannot try to apply to another job in the bank.
@es there are 5 ratings. Where does 25% come from?
u deserve it
@fz
Wrong. There are indeed forced ratings. How the he-l do you think someone becomes partially or does not meets on their performance review? And… it can be any category. And as long as they can back it up with any hyped up or overblown half truth, it’s game over. I know. Trust me.
@fz understanding rankings has nothing to do with surviving. Cant control RVs hate for Americans but you can control them forcing low ratings to try to terminate you so their dont have to pay severance
There are no forced ratings. There are, however, forced rankings. Start with that basic understanding if you want to survive at the Bank.
Who has the last say? Your boss's boss?
@es agreed. This is exactly what we are seeing. Made up ratings to knock people below so they dont have to pay out. Absolute sc-mbags
They will do this more aggressively on sites that are not tagged as growth or are slated for closure. Sites especially in the north eastern US. Their long term goal is to outsource most of the North east US positions to offshore or Florida. If u r in any of the sites start looking now. Dont rely on severance, as they can get away of not paying it if you are in 25%. They will put all of the 25% on a bogus pip and get rid of them in q1 without severance.
@e8 thank you for your tip.
@e1 if mgmt marks you low and you know it’s intentional, submit something through MyHR hub to create a case number and record. Someone from hr will contact you to discuss or you can do same with ethics. If they terminate after knowing you did this it’s considered retaliation and grounds for a lawsuit
@OP Thanks for the info …. What do you mean by “open a case “ ????
@ad agree but what im witnessing is them bringing in new people with zero knowledge or experience being offered way above staff salaries who have been here a long time. It’s absolutely disgusting
My thing is why not "force" hiring teams to simply offer reasonable salaries at the onset to help with overhead. Not low ball offers, but reasonable. My mouth dropped on the other end of the phone when I heard my offer. And my recruiter beat what I originally presented. The work load doesn't typically match the high pay. I think they just know the headaches will be high lol.
It also is clear evidence that there really isn’t anything called ‘team management’ and ‘team leadership’ here. We just ‘follow orders’ and ‘do exactly what we are told’. Being able to think, uphold the Bank’s policies, be visionary and get work done as you see what’s best? Nope. All nonsense now. We are drones for Robin and his thought police. This place is actually what ‘communism’ looks like.