My site is pushing hard on metrics for client facing phone roles in brokerage. They are putting any below the national average on key metrics like CPH on an “unofficial” PIP. So, lots of people getting put on a PIP.
I’m hearing from other site leaders this is a strategy to push reps up or out, documenting everything and focusing more on tenured reps.
Anyone else affected by this or seen this play out before?
This place has become crazy toxic in the past year...
Sounds like they want people to hang up on clients and call them back to double their cph to me! Or just rush clients off the phone. Bro, their metrics tracking doesn't even work ffs... one of the core metrics is broken rn and is showing that I haven't hit the target the past few days, even though I definitely did. Apparently it's broken for a lot of people and doubt they'll bother fixing it on MyPerformance... Fu-k that.
below average means by definition 50%. ai suspect you mean some smaller percentage of folks stack ranked from worst to best. thats the way that has not worked out over and over again across decades of companies trying.
@ah Wow! This is crazy! It is definitely widespread at least at our site. I know that PIPs aren’t designed to help, but what if someone meets the requirements of a PIP? Sounds like they just find something else so start a new PIP on until you’re forced out or fired?
Do they payout bonuses and shares in these situations?
From what I’ve heard so far people on a PIP are being given 2 or 3 months to meet whatever metrics are low and then they will be put on an “official” PIP and receive verbal warning at that point.
The phrase "unofficial" PIP is corporate nonsense and gaslighting. If there is even a whisper of PIPs in your area, polish your resume and quietly begin exploring your options. It's just a matter of time. Developing a metric based upon a national average guarantees that a large number of individuals will always be below it. That's how averages work in the corporate world. If being below average becomes evidence of unacceptable performance, then the system is designed to continuously identify new targets. Companies will tell you a PIP is designed to help employees improve. Don't believe that garbage. I've been in the financial services industry for more than two decades and I have never seen someone recover from a PIP. Most had already been identified as employees the firm wanted to manage out. The PIP simply formalized the decision. One last warning: if PIPs become widespread, be careful who you trust. When people start worrying about their metrics, individual priorities and alliances change. Which might be exactly what Fidelity wants.