How's everyone's sessions been going? Getting forced to give at least 5% lowers? Gonna be a fun message to deliver to whoever gets short end of stick even if you have a team of high performers, who probably are doing more after the recent cuts.
It's obvious Shell is just trying to increase the attrition rate beyond what the proper re-orgs are already doing.
Wael came in and destroyed a 100 year old company in 3 years by acting like Private Equity, selling the company for parts for pennies on the dollar and slowly chipping away at every benefit the company has. All while pocketing the money at the end of the year for his 10M bonus. But you don’t need to look far to see private equity is in the red for all the bad moves and bad investments they’ve done. Looks on track where Wael is doing and where Shell is going
After you are retired your IPF and BPF is how well the your investments do. And to some degree whether or not you're smiling in pictures. I suppose there might be a golf score or length/weight of the fish you caught.
@a3 This is 100% true. And I can even see why it's done. But it isn't real nice. Suppose the offset benefit is that Shell so often offers a 1-year or so severance when leaving, more than do some other companies. But it's still not a nice situation. If at top of scale for Job Group, there are also no more raises. It's pretty much starting life at a fixed income from about age 51 and on.
“penny smart, dollar stupid” and
“if i don’t do something i can’t justify my job”
are exactly what I expect to drive policy at shell
that’s how you get stuff like return to office while real estate has cut so many services to buildings that you can’t even eat
or DEI
Discussions ongoing - agree the beatings will continue until our natural attrition achieves industry avg. I feel that won’t have the desired effect. My experience has been the top performers make up the bulk of natural attrition. The laggards will linger forever even if receiving 70% of target bonus.
Combined with the wind down of PSPs and the forced 5% lowers, the net effect of community morale being pushed down is a far more negative business impact than any overhead savings from the salary and burden bucket.
I am force to give 10%
Agreed, it’s a tool to mask attrition ever since they went to the system of “everyone gets 1.0 and is equal.” Can’t help hoping that goes away when shell joins the Dallas stock exchange.
There comes a point in these ranking exercises where employees effectively age out of being able to attain higher quartile IPFs. Leadership figures those older staff, despite notable contributions and team value, aren’t going anywhere. So, what should be well earned elevation in ranking ($$) is awarded to younger (and cheaper) staff as enticement not to bail. Sitting thru these sessions, I can confirm ageism is alive and well in its many forms.
Our session forced 5%