Seems like you can only get fired for gross misconduct but not from incompetence, at least from what i've seen. Any one know any differently?
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True story: years ago, a guy got fired for daily paying for his weighed salad, then adding a few extra toppings on the way out lol
When I was there, 25% of the Wealth Management Advisors were on a PIP. Granted, that was one division of a bigger company, but the guy in charge who was two notches below Roger Ferguson didn't even hide it. He was a big believer in the Jack Welch (CEO of GE) approach of "Rank 'em and Yank 'em. Rarely was a termination due to negligence OR incompetence. Mostly, it was for underperforming on sales goals, underperforming on conversion of new assets or rollover assets into a TIAA managed account or sometimes just because the manager wanted to exert their power over someone who was not sufficiently submissive to them. Sometimes a new advisor who was doing fine would be put on a PIP. The manager would find the one of many metrics that the new advisor wasn't achieving and use that as the reason when the actual reason was because the new advisor came from a culture where the managers left you alone if you were hitting your sales numbers and not doing anything out of compliance. Fortunately, The "Rank 'em and Yank 'em" Senior manager who created that culture of fear is long gone. I think he poked the wrong bear.
@c3 bad performance and being incompetent
If you don’t mind sharing, what were those two times due to?
You absolutely can. I’ve seen it happen twice.
It's REALLY rare. Unless you were actively trying to bring down the company, or downloaded confidential info to your personal laptop, they'll probably just give you a bad rating and no raise come appraisal time, maybe at worst a PIP.