Summer vacation is here. Need to start planning where to spend my share of the MIP
Thanks !
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I feel like the Special Incentive Program will be the norm. Our leaders will set the bar so high, we will never hit it to get our MIP.
It was announced in a CRM Town Hall today that Medtronic as a company did not achieve the benchmark for MIP, so there will be no MIP payout. We were told that instead the Board found money to pool into a separate program called the ‘Special Incentive Program’ to pay employees. But didn’t provide any details on what that would look like. Basically this is their way out of paying out those people who were affected by the RIF and finding a way to pay current employees substantially less. They tried to position it like they’re doing us a favor by giving us anything….
You may not be getting an incentive, but I will be.. this forum is literally venting. If you don't like reading it, stay away.
We won't be getting a MIP. What are yall going to do about it? Complaining on here won't change anything.
If they try to weasel out of paying MIP to those RIF'd, VERP'd, or those left after fiscal year end..... That would be a sh-t storm. I don't think they have the ba--s to do it. Then again I didn't think wed ruin the first half of FY24 by stealing sales at the end of the year and start in the hole again... Wait... Nm I knew that would happen.
I think Stiffing all the retirees or RIF employees would be a huge problem, optics and. Possibly legally, they said in the VERP literature to get mip you had to stay till year end, and they told RIF employees the were still mip eligible. Even though by then we were into the special pool vs official mip calculation…
This is HR playbook straight from Catbert is a red fictional cat, and the "evil director of human resources" in Dilbert comic strip.
Can't make this up.
No MIP this year, it's a "special incentive" the amount you get will be determined by your manager and it's "merit based"
Confirmed at quality townhall.
They are positioning that there is no MIP so retired/laid off employees won't receive anything. But in reality, this discretionary bonus pool that is functioning like MIP, will only be provided to currently employed individuals to cut out those that are gone. But, to prevent legal challenges, they do not want to announce this until they have collected the waivers from those that are gone.
No MIP this year, go home, sleep now and I will think about you all next year. I can’t miss mine.
Your CEO
I heard this today, not surprised at all.
- achieves =2% raise
- Combo achieves/exceeds = 3% a 4 or 5% requires upper management/HR approval
- Any missed goals, consider looking for a new job.
- Promotions are off the table.
While there is a discretionary bonus Vs MIP, the leaders are having grand party in the name of kickoff meetings!
Employees are instructed not to post any pictures on social media to cover the double standards. Never saw such a blatant disregard to the tenet 5 of the mission - ‘To recognise the personal worth of all employees’!
Mission died with Earl!
@1rqt+1n40rM6f if this is what they are doing, it is absolutely disgraceful and they should all be fired out of the blatant disregard it shows for the mission they so loudly preach about every fu--ing quarter
slimy motherfu-kers
I was also curious if the MIP vs. "discretionary bonus" was to cut out the laid off folks in 2022 and 2023. Revolting if true.
@1cgc+1n40rM6f Yes, but all of this is a gray area this year. No one - employed or laid off - is receiving MIP. We didn’t hit the minimum threshold for payout.
So anyone who is getting paid is getting paid from a discretionary pool of bonus money that Geoff keeps reminding everyone he secured.
Now, in theory that pool should function the same as MIP. Laid off employees should be equally eligible. Everyone in a given OU/Region/etc should have the same payout factor, save for the individual performance component.
But, our current leadership is just the right combination of callous, tone deaf, and financially desperate to go ahead do something stupid like not honoring commitments to laid off employees and distributing that bonus pool in an inequitable manner. And given the ongoing Kremlin-like lack of transparency and detail, the rest of us are only left to guess if that’s what they’ll do.
@1ccw+1n40rM6f that doesn't make much sense...
MIP rules are pretty cut and dry. It's either:
Employed until final day in quarter = eligible
Not Employed until final day in quarter = Not eligible
They don't need to do d-mb sh-t like this...the rules are clearly laid out and have nothing to do with the right to sue waiver
@Post ID: @1jaz+1n40rM6f If true this company just dropped from Toxic to Heartless. So sad to watch it go down the drain so fast. SMH IDK anymore.
As a laid off employee with some hr contacts, this discretionary MIP is intended to make sure that those that are gone do not receive it and only given to current employees. They are waiting until they collect all the signatures waiving right to sue before they announce no MIP to them so there is no recourse.
Karen Parkhill directly stated it is discretionary in the quarterly call this morning. If you don't get a MIP you probably have bigger MDT career issues to worry about that MIP
We won't get a MIP, but you bet GM will get a nice big one for cooking the books.
I'll be surprise if we even get a MIP.
Just be glad your card still scans
If this is true moral will drop into the negative numbers. Welcome to the GE playbook
You wanna know why they are so hush hush with no communications? Starts with D and ends in discretionary. Hope your managers don't have a grudge against you.