Yes. Managers see their bonuses go up for RIFFING people. It's actually a big component of their yearly goals. Just saw employment report shows a record number of people voluntarily left their jobs in December. I bet AIG will have its share of voluntary leavers after STI is paid. Many I used to work with are actively looking and interviewing.
A short but an accurate statement by @WkMHxqR-Dhio . Couldn’t agree more.
Some Managers from units are making out great on the RIF's
Someone above said incentives don't go up for RIFFING people. They do, at the highest levels of the organization. Hooe someone asks the question at a shareholder meeting, because employees are too scared to do so in a townhall.
I see that my post was deleted, not surprising with AIG. Yes, the managers do get a small bonus when they let part of their staff be riffed....What I said in my post before is that the poor employee who is riffed is done so with Manager approval and his manager has a say in who is let go first.
HR does not even care or try to help the useless manager out. HR Goes by a script when riffing the employee and even then they have to follow a script that says they should not engage in personal questions or issues the employee may express.
Reading the comment above. I can say managers do get a increase in the their bonus for accepting the riffs. It is not much, but enough to make the poor employee sick when they find out later about it, and when they never explain why, and what there reasoning is. Of coarse, by then when your on the phone with HR it is to late! Which is only there job to listen. HR I learned has to adhere to a script and not to engage in personal questions or problems by the term.
I think people stick around until STI payout in March b/c they want to actually see the money deposited in their bank account before leaving. Leaving before that payout, I believe you're living on faith that you'll get paid.
Wrong!!
If you leave before your STI payout, you will not get it. end of story!!!
Voluntary leavers leave anytime. The ones who wait for STI in March are excuse-finders.
STI is paid out in full anytime after Nov 30, 2018 - if you leave before computation and declaration of STI %.
Also, not all managers are the same. To the person who has been there for 19 years kudos and good luck to you. I've worked under some pretty stand up managers in the past, somehow though the good ones never seemed to get the recognition that they should have. I hope things work out for you and your dept.
Keep in mind that there is a 'process' involved with this. It's not as simple as let people go and get a bigger bonus. It first starts with making sure that the targets receive a lower performance rating before they are let go. This helps with money allocation, I've seen it done. And yes managers have had it as a part of their goals to reduce staff...it's called cost reduction. In other cases, it comes in the form of a 'relocation package' so one can be moved from a higher market (like ny/nj) to a lower market (like charlotte) with casualties along the way. In the cases I've seen though, it's not even worth it for the manager who engages in this, because they end up having a low work/life balance and get used in the process.
You are absolutely incorrect and should not make inaccurate comments like this. I was with AIG for 19 years and began having to reduce staff in 2010. At nomtime did I receive additional compensation due to staff reductions. Every dept. works within a budget based upon actual staffing at the time STI payouts are about to proceed. Employees that are part of reduction are removed from the budget and those funds are not available.
No wonder they worked hard to get rid of people!! As expected of course
they just get a bigger pool of money allocated to their unit for STI. More work for the employees they manage not for them
I can personally ascertain that Managers do not get bigger bonuses for riffing people. That is complete nonsense.
That is what they are looking for, they will take care of the employees they really need.
No bonuses would mean a massive walk out. Why don't we have an AIG unuion.
Fake news unless they want to speed up attrition and save on exit packages
fake news?
reliable?
No bonus this year, save your pennies.
Really?
I'll have to ask about that. Not sure that is right (despite the glee you seem to take putting people down based on the assertion).
It pays pro rata through the year (and full late in the year) if your retire or leave through layoff...
I didn't think it paid for a resignation. I thought other than the above scenarios active employment when declared/paid was a condition of receiving the payment.
But I'll check.
Voluntary leavers leave anytime. The ones who wait for STI in March are excuse-finders.
STI is paid out in full anytime after Nov 30, 2018 - if you leave before computation and declaration of STI %.
Are you kidding me “it’s not that they get extra money” !!! Mind blowing that Someone actually wrote that! Give me a break - it’s sick!!! Go buy a new car with that “extra money” because I sure as hell cant with my severance! Happy new year!
It is not that they get extra because they Riffed someone. Just bigger pool of money /STI frees up when money gets allocated to their department.
KC Service Center could RIFF some Managers. Tiny department and there are 2 directors and 2 managers, that would be a huge savings since 3/4 of them dilly dally most of the day and take some of their cronies too, the ones that also dilly dally. What a joke that center is, a lot of people wander around talking most of the day and fudge their numbers so they look productive.
One Manager I know was "giddy" about RIF's in their dept.
Yes. Managers see their bonuses go up for RIFFING people. It's actually a big component of their yearly goals. - Wow. That's distinguishing. Sick. One would think they could play a better more dignified game? Wow, what a scam.