Hi, first time in my wells career I was given IM for one minor gap. I was assured that you can turn things around by End of year as this is just mid year check in but let’s be realistic. What are the chances of this is part of layoffs build up? I had my lead engineer laid off in similar fashion where 2 IM reviews and then layoff. Any insights please? Thank you!
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In my experience this is the first step towards getting set up for a layoff. Doesn't matter if you deserve it or not, you're now in the funnel. Assuming that you can't break out of the funnel, the next step is a year-end IM, then a 0% raise and a 10% bonus with the final step then being the layoff.
@d0 inconsistently meets
I got IM at my mid-year last year, turned it around and kicked a$$ in the second half (manager even reflected it in my end of year review), but their manager said that the year-end had to reflect the whole year in total so I couldn't get Meets no matter what I did. I knew then my time was limited. Got my displacement in May.
You will be IM at year end. IF manager moves you to meets then someone else will need to be IM. If you are still here at YE then manager believes you are comfortable with the rating. I have been rotating the IMs amongst my team since it is not really connected to performance. I was told to stop that this year and the reason given was the ratings were to get people to quit. I'm sure I will be IM this year.
What does IM stand for?
Not gonna sugar coat it, for senior management IM means that amongst the team, you are at the bottom of the rankings and not delivering at the same level. Yes, you will be top of the list when the next round of cuts come - or could already be on the list for something planned. Keep your eyes open about what this means and don't delude yourself.
Laid off and after that they gave me a meets (during notice period). Performance and layoffs not highly correlated. They need to give IM.
got 2 IM in a row, still got a year end bonus and then M now.
all about who ya got looking out for you
This 'rank and yank' system at Wells Fargo is far worse than Welch's discredited methodology at GE, which was a disaster in itself. At least GE had Six Sigma in place, providing some semblance of objective metrics. At Wells, it's nothing but the subjective whims of managers. They don't even bother to look at concrete data like Jira.
This purely subjective 'rank and yank' system, devoid of KPIs or any objective rating, actively encourages backstabbing. It makes you wonder where the HR department is in this fear-driven bank. How can any effective teams even exist in such an environment?
@a8+1k0z2f7ga You were already on the displacement list. You got the IM so someone else could get a Meets or better since you were on the way out.
@a9+1k0z2f7ga If it is a KPI and can be documented as not being met how is it not relevant? Let’s be real here, there is a reason people become favorites and it’s not just YesManning the bawsss. I would say I’m a favorite and given leeway. Why? Because this is just work. You want me to code this or fix that, whatever, get it done. Is it a sacrifice and needs to be done outside of working hours, well then I’m getting compensated in some way equivalent to double. Or if it can’t be done “sorry, you gotta go to someone else” and it’s gone.
Unless a teammate messes up you are likely the chosen one this round. Manager either needs to displace someone or has to find money to give another person a raise or promotion. It all comes from the same bucket. If it’s the latter expect no raise and a bonus slash.
Been there before getting the IM rating twice when hitting all key performance metrics over my counterparts but manager had documented every small irrelevant gap. If you have a manager thats already made up there mind and opinion about you with their so called favorites they will find a way to document your misses in your review one way or another (unless you’re 100% perfect). What’s unfortunate is likely getting an IM rating at mid year will likely mean an IM end of year. It’s unfair and likely not much you can do.
I was displaced earlier this year and likely on the top of my departments list when it came down to downsizing due to the IM rating from over a year ago.
Received my first IM last Friday via email. Never had a meeting with my manager and never received any performance feedback until the midyear. Received displacement notice on Tuesday.
@a4 so sorry to hear that.
The same thing happened to me lastyear. Terrible firm.
The same thing happened to me. My manager was forced to IM me on year-end by his manager. Laid off in April. Sorry.
I honestly don't think it has to do with layoffs. It's more about the bell curve and quota system in place. They gave you an IM because they wanted to give someone else an Exceeds. 15% of the company gets IM regardless of true performance