Wondering where your bonuses went this year? Look no further than our illustrious home office business employees who get paid big bucks to then sign over TENS OF MILLIONS of dollars every year to consultants who basically teach them how to do their job and set their strategy and goals. Someone probably let the junior McKinney consultant get a little too aggressive on the biz goals this year, but don't worry: even though you didn't get paid, they sure did! When are we actually going to see some performance management of these people instead of blowing tens of millions each year in handicaps?
9 replies (most recent on top)
Has Selfie Susie or her DEI and WIT sisters been fired yet? They are a big strain on the company checkbook with zero return.
No money for a 401k match or raises yet plenty of money to unnecessarily put new windows on a perfectly fine building and close another perfectly fine campus just to satisfy a former CEO's ego.
The stock market is at a record high, real estate is at a record high, interest rates are at a high, and NM still can’t make money in this environment? Something is fundamentally wrong with this company or we are being handed a bunch of lies. There is no logical reason for an AIP result in line with what we had during the 2008 depression.
This "pay for performance" culture that they are trying to push is really not motivating and seems to be having the opposite effect. At least in my area, no one knows what "highly successful" looks like. With this lack of transparency, it feels too subjective and bordering on a popularity contest.
And SLT just showed their hand with AIP going forward. This is a sure fire way to cap the "total rewards" expense by establishing aggressive AIP metrics. 2024 was a really good year by most standards in our company's history (excluding the last few golden years). But to have only 5% more payout than 2008 (great recession) is pretty ridiculous.
Bonus structure is far too difficult to understand and seems subjective. We've heard about so many positive results this year. While we missed on a few results it feels similar to some previous years where percentage was higher (been here 8 years). Overall its a good bonus compared to others.
The company is very top heavy and at the top there’s leaders that lack the ability to think strategically, therefore they rely on consultants. Consultants generally come back with basic cost cutting maneuvers because that’s all they know.
If NM wants to keep with the times and improve the overall outlook, they’d trim the fat at near the top and put people in place that can actually think critically and strategically. Stop hiring consultants - period. If you’re a VP and you can’t come up with this on your own, you’re probably under qualified for your role.
Eventually the boomers will die out and the next generation of wealthy individuals will go through other more efficient ways to preserve their wealth. Using consultants to drive strategy while doubling down on an ancient business model will result in a gradual decline of AIP and the business in general.
I lost my AIP to McK so can tell Bug Eyes to stop draining millions on J2C and fire SM and her product.
I'm not going to say which business area I am in, but we have them everywhere and we are already spending millions and we have no idea what they actually do. I've been here a long time and I can tell you this goes back way before JES. Leaders have been here their entire life and their only connection to the industry is the millions they spend each year for consultants to tell them what to do. It would be cheaper to just hire someone who has actual industry experience. Hopefully TG cleans up the mess!
Thank god JES and CM are gone.