Remember, performance reviews start on Thursday. I cannot wait for my Exceeds Expectation rating. (sic)
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I supervise people and haven't been told i have to force rank anyone yet. Not sure if it will come later but haven't heard a thing yet saying we have to. I did hear earlier this year they were stopping it but will believe it when I see it.
I didn't receive the email people are speaking about today but i received an email yesterday with policy updates and they quietly lumped it into that one
Came out in the morning. Subject is U.S Notice Period Policy
I'm going to go out on a limb and say that this won't hold up in court. Imagine someone giving 2 weeks notice in August and BNY attempting to claw back a bonus paid out in March, which was the incentive for the previous calendar year. Can't say I'm not surprised they'd try something like this though.
What time did this email come out?
If we don't provide 30 day notice, we must repay our last incentive
How does the bank really expect to enforce a 4 week notice period?! That's hilarious
@3bpa+1dcv10E8
NOT fake news. It's exactly as I said. Announcement came out today. Enjoy providing minimum 30 days notice before accepting a position outside our company.
Forced rankings have started. Weak managers about to show zero backbone.
#FakeNews. Certainly 90%+ of the bank need only give 2 weeks notice.
Here’s a test… do you have an employment contract?
The answer is yes to both.
You are told you’re job is eliminated and you are paid for 2 weeks prior to SUB kicking in. If all you care about is $$, it’s not bad at all.
Once you are told, your access is ki---d - yet in the displacement calls they point you back to mysource for questions.
For the next few weeks you have your co workers calling you in tears about what happened and how wrong it was. Then they are calling asking about things you were working on because you had no opportunity to train or transfer work.
Then you have clients calling you tell you the company is disgusting to to something like this.
The transition assistance is a joke- the person couldn’t even find my LinkedIn profile; my 20 minute session was an insult. A commercial for events she was hosting.
Should I go on ?
Overall a terrific process.
if policy is changing to 4 weeks mandatory notice for j and above it means A LOT have been quitting and bank is having a hard time hiring...interesting...
So glad I don't have to do that bullsh"t anymore.
I live in realty, @utb. Apparently quite a few people live in la la land with you which pretty much proves my point that we don't promote how much we help employees transition. You are a FULL employee for AT LEAST 2 weeks after they notify you and you don't even have to show up for work. There are PLENTY of things the bank does that is id--tic but giving notice is NOT one of them and helping ex employees transition is NOT one of them.
@dld+1dcv10E8, you are joking right? BNYM does nothing to help terminated employees transition. This poorly run bank only cares about making money and not it's employees. Those who chose to stay know that the hammer could drop at any moment. I hope that one day I wake up to the news that the bank has gone under. Glad I am out of that sh-t show bank.
Wow. Didn’t I just finish mid year review? What a joke. Got my initial performance goals in March. Mid year a couple of months later. Some of the goals are real BS
If they were to give a voluntary termination package, there would be a major exodus!!
That's what companies used to do when they wanted to reduce staff. Not insult people who have made valuable contributions over the years by giving them a BE rating! Unfortunately company doesn't value people 50+.
@dld
what alternate universe BNY Mellon do you work for? Yes, there is SUB pay, extended benefits and placement services. However there is ZERO notice given that a layoff is about to occurs. You get a call. You meet the HR rep minutes later. The HR rep goes over the particulars with you. The HR rep then escorts you to the door. That's it. No going back to your work area. No good byes to your co-workers. You're pretty much erased.
All those who get a BE - start your job search as soon as you get the results of your appraisal!!! Unless of course you want to wait until they kick you out the door in January.
@twf,
BK gives at least 2 weeks notice PLUS SUB pay PLUS extended benefits PLUS placement services etc. It's stupid that we don't empathize how much we help employees transition.
Axtually, most banks REQUEST 4 weeks notice. They don't make it a requirement where the employees must click agreement whereby accepting the obligation and being susceptible to repercussions
Funny we have to give 4 weeks notice but how much notice do we get when they let us go? One hour?
Most banks require a 4-week notice to be given by leavers, depending on their position. Nothing new here.
There will be an email sent today or tomorrow to anyone who is a job grade J or higher and you must agree to providing a minimum of 4 weeks notice when leaving BNYM. Watch your inbox.
" Does require employees to provide 4 weeks minimum notice when terminating employment..."
What? I have never heard of ANY company requiring four week notices from departing employees.
Haha! Today they just communicated a change to the review process. Ratings will be based on how and what you do. This is yet another method for the company to continue compensating employees far below market value in our industry. For example, starting salary and bonuses are not in line with our industry peers. Peer companies pay 30k higher in starting compensation for project managers than BNYM and 10% for incentive (our company pays 6 to 7%).
This company is determined to lose employees. Doesn't offer a work anywhere option. Doesn't pay salary commensurate with peers. Does require employees to provide 4 weeks minimum notice when terminating employment even though we are an at will state. Think on that for awhile.