Sad to hear the news. Copying idea from Chase?
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It really is a problem which is limited to low performers. Do you even understand what why bonuses are given? Or that they are competitive?
It pretty much really is only a problem for lower performers. Study the stars of your team and learn to follow their behaviors. Sometimes it’s only a matter of presenting and selling yourself upwards. The last thing that you want to do is to assume that your manager knows what all you do. It’s been several decades since that was normal management.
And this is why we had to report our “relationships” so they can be like “see, nothing going on here”.
I think some people on here just assume it's "only a problem for lower performers" I've been in a support role and in said role overheard managers literally lowering peoples performance ratings so that the bonus they would receive would go down allowing more in the pool for managers to divvy up more of the pool for management. I'm sure some groups will fairly rate their employees (within the stack ranking system that forces you to down grade people), but there will be a good bit more corporate politics in most groups as the go forward with regards to bonus pay.
Post ID: @1kva+1e4Hva4U
And of course you don’t elaborate so I call BS
My god, I read this whole post and not a single piece of factual details.
Wells is just a BofA copycat. BofA doesn't have target bonuses or pay ranges. Both are ultimately lower for those in enterprise support functions because of that. Much lower in most cases.
I knew they would copy at some point but absurd to announce the change for 2021 in the last month of the year.
Chase did the pool a long time ago. It’s all political and based on whose a$$ you kiss and such factors that have nothing to do with performance.
I knew it would come here eventually with where the management came from.
Doesn’t bother me either way as peons don’t get a bonus. You know, the folks that actually work and all. Only the faces get it.
For many jobs, they simply can't measure "performance" in any meaningful way.
At the end of the day it always falls back to "how much your manager likes you".
Breaking news!!!!
FYI, Bob Hope died
You're late to the party.
So glad I got my 52 week package and used it to retire. This place has gone to HE!!
Well here is the problem with performance based bonuses. The forced stack ranking that was implemented.
Now you can be a good performer and because of the stack ranking get put lower than your performance indicates hurting your bonus.
And let's also be honest, there are plenty of managers who have kiss up favorites who don't actually perform.
I have had plenty of discussion offline with my manager on the forced stack rating and he hates it. He spent a lot of time building a strong team, yet the rating forces him to penalize someone who is doing good and others who are exceeding.
Nobody can explain with any clarity how the new bonus structure will be applied going forward. Just another example of more opaqueness and less transparency.
What a concept!!! Lol Bonus based on performance? We all know it’s nothing is based on performance, rather whos a$$ is getting kissed or who is doing who behind closed doors. Guess you better pucker up a little more, you missed a spot.
Getting a bonus for level of effort vs just participation? Sounds like only a problem for lower performers to me
News? We've been talking about this for months.