Thread regarding Gainwell Technologies layoffs

No one this company should be getting 5 star reviews because this company does not do 5 star work.

If your salary exceeds the 130% threshold for your title, you will not receive Merit nor COLA. If your manager appreciates your work, you may get a bonus.

@192 Merit discussions for our account occurred Thursday & Friday (7/24 - 7/25). They were as expected; 3% +/- depending on rating. The process works exactly as described by Definitely Not Zen in a prior post whereas they take a percentage from Peter to better reward Paul.

@ry that got a 6% merit increase, consider yourself extremely fortunate. As a multi-year 5 rating performer, I have never received a merit increase above 4%.

@192 this is sad but true

It is July 25 and notices went to mgrs July 21. I have heard nothing. Clearly not a priority. They make sure to take care of the elites (directors and above) first and leave us any crumbs. Gainwell SR mgrs and above treat us like serfs in their kingdom. Not inclusive or decent, like the code of (mis)conduct states. This is clearly not a healthy workplace. I am out. Good luck to the folks who stay, hope you have a better experience than I had.

I find it hilarious when something breaks and everyone is pulled into a bridge call. Then one of the C-suite executives or higher management get on trying to throw their weight around.

Do they not realize how ridiculous they come off, particularly it was under their leadership for X number of years that caused things to get so bad. Then add to the fact that when more than one of them get on the bridge at the same time, it becomes a power struggle.

I have more respect for a street-side ho---r than any of Gainwell's management team.

My 2 cents . Fire thr entire chain of management and promote the people who have been working on the ground as software engineers or leads for years . They know the ground realty .
Current management are a bunch of clowns and Gainwell is a circus .

If you don’t listen to anything else please know that Definitely not Zen is telling the 100% absolute truth about the Merits. Sad but true.

@zd they keep giving people in India big job titles without any experience and they have no idea what they’re doing. The people here constantly are picking up the slack that this is causing. Actually kinda genius though because nobody pushes back because they don’t want to be “next”.

Why give Americans bonuses when you can hire an entire Indian village instead? Mark is a genius.

@xc trust me, they’re getting their bonuses. Only higher ups though. Not even most mgrs. get bonuses. Mine didn’t.

@xc agree. They're the reason there are no raises. One day somebody will write a book about Gainwell.

Who really cares about bonus ? Fix the management first . Total clowns

hi everybody, it seems very apparent that your direct managers have not taken the time to explain to you how the merit increase process actually works. I will try to bring some clarity to this as I have direct experience with it.

• ever since Gainwell came to be, under Veritas, we have had a merit increase process. Far from perfect, but something is better than nothing.

• each manager gets a budget based on the total value of his/her payroll. Gainwell defines the % each year. This time, the total budget for merit increases was 3% of your team's payroll. Silly example. you have a team of 20 people, and your total annual payroll is $1,000,000, then you get 3% of that ($30K) to distribute among all 20 of your team members.

• your performance rating has a direct impact on your potential merit increase. If you are rated as a 1 or 2, you can kiss your merit increase goodbye, and eventually your job. If you get rated as a 1 or 2, I have news for you... you will get fired.

• Technically, the higher the rating the higher your potential merit increase, however, it does not guarantee you will actually get one, even if you are rated as a 5.

• the company defines each year the rules to follow, and they are enforced by the system (myGainwell@work). Each of the top 3 ratings (3,4 & 5) has a limit in terms of the max percentage that can be assigned by your direct manager. Exceptions can be made, but they need to be approved above your direct manager. These exceptions are not common.

• as of last year, gainwell put additional restrictions in the system that prevent your manager from giving you more money. gainwell has made it increasingly difficult to reward good people.

• in practical terms, if you assign a higher % to someone (within the limits for his/her performance rating), it usually means someone else will get less or nothing at all.

• if you try to take the easy way out, as a manager, and give something to everybody in your team, you end up doing what we call "peanut butter spreading" your budget, and end up giving people a 1.5% increase, which is the same as spitting and slapping them in the face.
• this year, with 3% of your payroll, it means someone will get the stick and someone else the carrot, or everybody gets the stick. not much room to maneuver, its one or the other.
• whatever decision your manager made, his/her merit increases still need to be approved by the next level manager. Here is where things usually get really weird. Your 1-over-1 manager can override the proposed merit Increase, and then, once he or she submits their recommendation, it can still be overwritten by HR, Each organization will follow its own set of sub-rules, so in practical terms, its no-man's land out there. This lends itself for some really weird stuff, injustices, you name it.
• Bonuses are a whole other thing. Most teams do not get money for bonuses, the ones that do, are usually on the account side. Accounts sometimes do have bonus money to distribute, but that, if there is any, will be distributed at their absolute discretion. No rules, no nothing, the account decides who gets a bonus and how much. Period.
• once the whole thing is approved, your direct manager will see the final number in the system, which might not be the same as he/she submitted.

at the end of the day, your manager does have input on your merit increase, but his/her is not the final word on it. Also, how your manager decides to handle that its truly unique to your manager. Some are good and fair, do their best to do right by you with the limited budget that is available, and others, lets face it, are just plain horrible managers. So having said that, as the expression goes, your mileage may vary.

lets face it, a budget of 3% does not allow for good merit increases. Most people will be left feeling insulted at best. In my very personal view of this, I rather not have merit increases for anyone, if that means better job stability, that is, no WFRs.

it makes no sense to give people a 3% increase on one hand, and on the other, you keep firing people every month. its just plain stupid if you ask me. People's moral is super low in pretty much every team, and giving these insulting merit increases just makes it worse. I'm not sure who gainwell is traying to make feel better, but its certinly not the employees.

So, having said all that, I hope this at least helps you get a bit of understanding of how this very cumbersome process works.

@tk play stupid games get stupid prizes.

The question remains:where is the email from th CEO?any1 gettin the promotion?

1 friggin percent…. That’s not a merit increase. That’s an insult. At my prior company they gave $8000 bonuses and 3-6% merit increases. Wish I’d never started working here after being laid off.

I received a 6% raise but unfortunately 3 of my coworkers had to receive 0% to even it out.

I got a raise of 20% lmao. Just a joke .
Small pop and mom stores run better than Gainwell . Shame on the management for a sh-t show. Fire those sh---y director's who don’t know what the he-l they are smoking

@qp yup. $5 Billion coming due in 2027.

Probably best to not be there when that happens.

In January 2023, S&P Global lowered the issuer credit rating on Gainwell Holding Corp. to 'B-' with a negative outlook. The rating reflects concerns about high leverage (about 11x in fiscal 2023) and lower-than-expected free operating cash flow (FOCF) deficits according to S&P Global.

Again, not a rumor. They’re existing only to service their debt at this point.

@pf wonderful. Hope it covered the crazy increase in healthcare benefits cost the past year.

I talked to my manager and found out what my merit increase is. It is an improvement over last year.

People leaders have received an email and are relaying the information to their staff.

Salary changes will be reflected on the August 15th paycheck regardless of whether the employee is exempt or hourly.

Can't wait to see what I get. (Being sarcastic btw)

1. Can we have people who received raises in the past 5 years at GWT please up-vote this?
2. Can we have people who did NOT receive raises in the past 5 years at GWT please down-vote this?

Let's take a look. Please up/down vote this specific post.

Please do not up-vote/down-vote unless you are answering informal pole or you have been with company under a year. (Don't want our newbies to skew the numbers)

Okay I'm betting that there are people on here who have been told multiple years that there are no raises. Yes? Okay well I'm here to tell you, that I have had a raise each year of employment with GWT and I am not management or C suite. It's always been 3% or lower so really just cost of living increase, but they packaged it as a raise. When they tell you there are no raises, it means for folks whose managers don't value you. The company has money. Should everyone receive a raise? That's debatable, but there are raises to be had. Those who are touting that GWT is in such dire straits that is just False. Look at company year over year increases and all the town halls given. It's not them it's you. Sorry.

Haha this dude thinks people outside the C suite get raises hahahahahah

@h2 lol just not a rumor. I saw it first hand! I have proof but we can’t post pics here.

Everyone just needs to do the bare minimum.

@h2 yeah Gainwell is definitely broke. They owe $5Billion in debt. Medicaid funding is being cut by the federal government. Guess where most of Gainwell’s money comes from? I wouldn’t be worried about some 3% raise. I would be worried about having a job.

On top of that their shady business practices are starting to surface. It’s just a matter of time before a formal federal investigation begins. This stuff does move slowly. But if you sit around and do nothing you will be on the unemployment line.

I have heard this rumor many times over many years. They only tell this to those who are not getting a raise or bonus. This is when you see if your manager values you. Those who don’t get raise it’s not because the company is struggling. It’s because your manager didn’t fight for your share of the pot. Chances are the lower they keep raises for employees the larger raises they receive. Your lack of raise ensured your manager got a new ride, better vacation, nicer house and all around better life. All while telling you company is struggling. GWT is flush and due to cost savings from offshoring. Guess where the executive retreat will be this year? How about the excursions they take on company dime. Nowhere has the company claimed poverty. It’s a myth lower management sells to the masses so they can justify not rewarding you for your work or the companies success. Stay thirsty my friends.

@OP company is broke. Just limping along.

• No one is getting it