Proximity bias is hardly a new concept. Welcome to adulthood. 🧐
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Bonus funding starts at 50% of old target if you haven’t met the RTO standards.
"Actions have consequences"
They sure do! For example, if Wells cuts bonuses for no other reason than lack of perfect RTO adherence, then the consequence of that action is reduced output from those employees all year long.
The employee is temporarily bothered by no bonus, but then suddenly feels completely free. Without a bonus, Wells just lost nearly all its leverage over that employee. Good luck managing that person. And all because what? They didn't want to drive an hour to sit on conference calls with people in other states? Sounds like a classic bonehead Wells Fargo decision to me!
It takes upwards of a year to fire someone at Wells, especially if they're over 40, DEI in any way, etc. That's more than enough time to find other work, including other roles within Wells to start the RTO adherence clock all over again.
RTO is an abject failure. We're all over the country. It makes no sense for most campus employees to spend incredible time and money commuting for nothing in return.
This game of RTO chicken will continue until the "leaders" start selling off properties instead of trying to force people into those properties for some silly temporary tax break.
Times have changed, and Wells needs to start changing to keep up.
Yes. They stated on teamworks that RTO compliance is a performance evaluation issue back in March. Some people are going to have a rude awakening. Non RTO people will get a “meets” if lucky regardless of “I still do all my work at home”. You handed them a reason for a bad bonus
"Giving people less money and expecting more work..."
Why not? They've done it for 40+ years and gotten away with it.
Comp info comes out in November.
If anyone thinks a business will reward employees who refuse to perform, you are living in a dream world. Performance isn’t only output… it is behavior too. And when a business sets a policy and an employee refuses to comply, it is a behavior issue and impacts performance. This is so basic. So, yes, many have been very vocal about how no one can make them go into an office. Ok. But no one has to pay you for your insubordination either. Actions or lack thereof have consequences.
If bonuses are affected, it will only further damage the bank. People aren't going to suddenly sit up straight and work feverishly after having their bonus cut. Giving people less money and expecting more work is asinine, regardless of why the comp was cut.
And once your bonus is cut, you have NO reason to do anything beyond the absolute bare minimum. In a way, this would be psychologically relieving. It would stink not getting your bonus, but imagine how free you'll feel for the rest of the year, no longer chasing that stressful carrot.
As far as I can tell, it's win-win for the employee. It's just a matter of how much poorer Wells would like its employees to perform.
I hope so. Tired of following the rules and others not
My manager is pretty forthright and he told me he has yet to be given any indication bonuses will be related to RTO, or even what if any consequences there will be for failing to make it in 3 days per week. Of course that doesn’t preclude some directive coming down from on high sometime between now and bonus time, but I don’t believe any indication of such has occurred yet.
Haven’t seen our “leader” (laughable reference) in office for about 2 months. Prob cause all the leaders in the dept sit in an entirely different building. The closest thing to collaboration is there admins sending an email telling us to celebrate being inclusive
There is also another RTO buzz word called idgaf—are you familiar?
I show up thank you very much.
There is a new buzzword related to RTO called, "proximity bias". Out of sight of the boss, out of the bigger bonus mind. Show up, get more than the one who does not show up. Depending upon your LOB, it may or may not apply at Wells? Are you willing to take that chance?
There is a new buzzword related to RTO called, "proximity bias". Out of sight of the boss, out of the bigger bonus mind. Show up, get more than the one who does not show up. Depending upon your LOB, it may or may not apply at Wells? Are you willing to take that chance?
CIB Dir. here, was told it could be a performance management issue, operative words “could be.” I guess it would be up to your manager. We asked about consequences and our exec hadn’t heard anything about that.
The less you attend the office the higher the health and happiness you receive (consider this your bonus long term). There is a direct correlation.
https://www.thelayoff.com/t/1jcJsqh5
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