I’ve heard some groups are taking steps to flatten the structure. If a manager has less 7 direct reports, the manager won’t be a “manager”. Have you heard about that? Is that happening in your group? Please share... thanks!
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Many ICs make the same or higher salary than their managers. Just look at the bands. I'm a level 5 and one of my best friends is a 6 and both of us make more than our managers.
Also, toss in the area differential and it's an even greater gap.
Not sure how previous poster didn't know this exists all over WF. And in many cases it's warranted, based of level of role and responsibility.
spans and layers doesnt always mean a manager will be cut and im not sure where the poster is getting info about ind contributors making the same or almost the same as managers. That is not accurate. our job families shows virtually all managers make more than the individual contributors they manage plus bonus. I know this is happening in the lobs. not sure if that spreads to HR, branches or Risk/Legal. Shrewsberry said branch personnel weren't as expensive as other areas so I don't think there will be too many branches closed other than the 1500 they've been talking about for years. Anyone know about non-operational sections?
Spans and Layers. Not a secret. Some managers will find themselves without a job and the rest as an IC with a little less bonus. Working managers probably are safer than folks who do not do jack and just stay on calls all day doing nothing. I know of many like that throughout the org.
This is not just happening in your business but org wide.
Its not only a reduction in money. It’s to increase accountability and decision making, with a clear escalation path. Right now you have pseudo-managers who are not the real decision makers and just clog the system.
The savings in movement from manager to individual contributor is mainly in bonus %. More than likely a lot of managers (or senior managers) will just have their jobs eliminated which would reduce their entire comp instead of just bonus differential (excl. severance packages). A leadership assumption in these sorts of layering removals is that managers only manage, when in fact most managers have day to day responsibilities and management of employees is a minimal percentage of their overall capacity.
Yes, this is accurate- it’s called spans and layers; goal is for managers to have 7 or more direct reports- less than that and there is either going to be a move for that manager to be displaced or moved to an individual contributor role.
Yes, this happened in Home Lending Technology. We received a PowerPoint that shows the new team groupings.
If a manager is forced to become an individual contributor (as opposed to getting laid off) I’m not sure how much the company is saving since many individual contributors make as much or more than managers. Doesn’t make much sense.
Yep, "spans and layers." Sven layers of management with at least seven direct reports per manager.
Yes, that is accurate. Managers must have at least 7 direct reports. That project has been in the works since Q1, however. A realignment is underway across the business to make this happen ASAP.