Thread regarding Wells Fargo & Co. layoffs

I got 'exceeds' but I'm quickly approaching 60 in the next year...will I be in the cross-hairs for a layoff even though I got an 'exceeds' rating. I'm in retail. Any insight would be awesome. Thanks!

I got my rating and a week later was notified that it was downgraded even though I had excellent feedback from peers and managers. If they can downgrade to fit a bell curve no one is safe.

Very little of this has any real meaning if your rating is that you are at least performing.

No one is getting a raise, it’s unlikely there will be much in the way of bonus money, and there won’t be any promotions because the middle is too fat. The differences in good times are so small, it’s not worth it.

In my experience, the people who get the top ratings in this methodology are just political game players and schmoozers who pretend to be working around the clock doing a lot stuff that ends up in the trash can. I don’t want to spend my day doing that, so I’ll never get a top rating and I don’t care.

They are making managers change rating so it fits the bell curve If the higher up manager knows your name you can get a 4 if they don't you get a three (hopefully). In my group we were told there could be no 5s and we were allotted 8 4's for 42 people. I guess the 5s are all saved for the leaders running this place into the ground.

What is the point of doing GREAT work when as long as you keep your head above water you get the same. Oh and no promotions will be coming either. Welcome to WF where hard work gets you the shaft!

This is the same performer system used a my company (not WF). It’s awful and demoralizing and in my company impacts your bonus depending on which rating you receive. The intent is to get 15-20% turnover each year....

2 is inconsistently meets
3 is meets
4 is exceeds
5 is consistently exceeds

I don’t know what 1 is, you are going to get sh1tcanned so apply for disability now?

I have been at Wells for several years and never got a mid year review. I keep getting the email about acknowledging the evaluation but I have not had a meeting with my manager regarding this and I have not been evaluated as far as I know. My manager has not even mentioned this. I was waiting for the manager to schedule a meeting or bring it up but nothing. I guess I will have to ask.

This is the first year ever we were rated 1-5 at mid year. All years past the number came at the end of the year.

@1wq I don’t think 3s are viewed as anything more than “safe”. I think with the forced curve it’s just harder. I’ve been straight rocking it, getting recognition and redoing reporting and adding value. I still feel like I’ll get a 3.

After getting 4s (when it existed long time back) so many times, I get “meets” this time under a different manager. Will see when they will take me out.

There is no number in the system, only verbiage. If the tool says “meets”, you got a 3.

@ajb is consistent with what I have been told. I have my mid year tomorrow and will post in full honesty what I get. OP I think you may have been given incorrect info. 4 is good! Kudos!

To all newbies, this is nothing new, Wells Fargo was doing this rating system before then went to current and now back to the old. The performance thing is broken and they keep flip flopping every other year trying to make it relevant.

OP got a 3 though: meets.

Your manager is either screwing with you or an id–t (not discounting both) but 4 is a good thing.

Your manager knows who this is since he gave you the wrong information intentionally to see if you would post it

Your manager is wrong.

It’s in the CP&D tool now. There’s nothing in the mid year rating section. Everything my manager discussed is in the ongoing feedback section, including saying overall rating is meets. No number listed there.

All I know is what I was told. I’ll see what shows up when my evaluation is loaded into CP&D.

That's incorrect. The ratings are defined as follows along with HR's distribution ratios:
5 - Consistently Exceeds - 5%
4 - Exceeds - 15%
3 - Meets - 60%
2 - Inconsistently Meets - 15%
1 - Needs Improvement - 5%

This is straight from the guidance delivered to managers from HR.