Last I heard is that there are people who will get their full bonus for the year. As for the others no raises at all and bonus payout will be 80 to 95 percent of bonus. For the people leaving on March 31st they will get full bonus and severance. Some people will get retention bonus to stay in their jobs, again not many people will get it. For others who don’t get one, it’s good to start looking to leave as they will continue to outsource positions to Accenture.
24 replies (most recent on top)
By taking back bonuses the share holder will be rewarded. Great American style execution.
@dhxk+1kLXsIli this is the truth
I love that some people think managers have much if any control of any of this ridiculous process! This mess is brought to you by a greedy CEO and his absolutely horrendous HR team.
By giving useless performance reviews managers are trying to make the employees feel bad and save money for the company without a bonus. Then they can fire the employees for being a poor performer.
They want people to leave like what happened sometime ago. They are purposely asking managers to put negative ratings on employees so that they look like a beaten dog and in turn the compensation will not be provided. The employee will hit the eject button or the company now has a reason to lay them off.
When do we expect to recieve our compensation statements or recieve our end of year feedback? It feels quite late this year?
@1axz+1kLXsIli Poster nailed it. I stopped caring a while back, and my quality of life is better. Many managers at AIG are inept, so if you have any creative chops then they won’t know if you’re doing much less work. Problem arise? Ignore it. You have better things to do with your time. Let those who get paid to “excel” figure it out.
Absolutely hilarious and amusing! That said, sad commentary on modern society.
We should start a movement to add our rating to our email signatures if we are given less than above and beyond to show that we identify as above and beyond regardless of AIG's attempt to force us into degrading corporate labels. Shame on you PZ. Shame, shame shame.
Jonathan Doe (he, him, his, above and beyond)
Claims Adjuster
AIG
The main goal should be working 20 to 30 hours. Whatever label AIG wants to give from that point is fine. "Red jacket, green jack who gives a sh!t" (Happy Gilmore)
I do find it very non-inclusive, non-equitable and not very diverse that AIG wants to label us and put us in derogatory buckets that hurt our sense of self worth. It seems to go against everything AIG says they stand for. Maybe DEI only matters when money is not involved?
I would like management to know that I identify as above and beyond even if they label me as partially met.
If you’re working only 20 to 30 hours per week and expect anything more than partially meets, you’re kidding yourself.
20 to 30 hours per week with a personal goal of fully meets is the only thing that makes AIG viable. If you want to work more or be a high achiever you should find another company.
I offer you some honest advice from someone who has been here a long time. Take it or leave it. It's my good deed for this Sunday:
This entire year end ratings process is not at all important in the grand scheme of your life. It is all propaganda. A feel good exercise where you and your manager sing K-m by ya and talk about your successes and how to advance your career in the coming year. None of which will occur in today's AIG.
Disregard everything you see on Contact and Workday. Take an honest, I mean honest, look at yourself compared to your colleagues. Are you the best on your team without question? If so, you should get more sti. Did you meet all of your goals, but aren't the best? You should get around 100% target sti. Do you mostly just do enough to get by on a day to day basis? You should get less than target. That part is simple, but people have a hard time honestly evaluating themselves.
STI bonuses very widely by pay grade. As you move up they become a bigger percentage of your annual compensation. The ranges can be as low as $1,000 for low pay grades and as much as $30,000+ for higher pay grades. This would be pay grade 22 or 23 in most cases. Not speaking to 24 and above as they get LTI and much larger bonuses.
I am sick of the AIG games so I generally work part time and enjoy my life outside of work. I don't stress at all about anything work related. I don't care about exceeding goals or being a superstar. I can honestly say I do not deserve above and beyond. You may say why, don't you want to make 110% sti? Sure, we are all here to make money, but the reward compared to effort doesn't make sense at AIG. It hasn't for a very long time. Let's use an extreme example.
Let's say my sti target is $30,000. Lets say I put in 60 hours a week. I am a superstar. My manager loves me. I get above and beyond and if I am lucky enough that my business unit gets funded at 100% I may get an extra 10% of my target for going above and beyond. End of year the gross difference for going above and beyond may be $3,000 more than my colleagues, obviously less if you target bonus is less.
So let's assume your colleague works 40 hours a week and gets fully met. Congratulations, you made $3,000 more than you colleagues because you worked 60 hours a week. Now do the math.
52 weeks in a year X 20 extra hours a week = 1,040 extra hours you worked. $3,000/1040 hours = $2.88 an hour. You do the math with your particular situation. The point is obviously that the whole process is not relevant so do yourself a favor and use the extra effort to enjoy your life, spend time with your kids or better yourself rather than striving for or worrying about above and beyond. It is a dangling carrot that never pays off. Forget about it and let this topic die.
PS, I do agree that management is non-transparent and probably uses surpluses to enhance their bonuses, but I cannot change that so why bother getting angry?
You are welcome. Happy Sunday.
If hitting all of your goals equals fully meets and fully meets equals less than 100% target sti, then what is the purpose of a target sti or goals? Why don't we just say do the best you can do and at the end of the year we will see what's left after executives reward themselves with bonuses and we'll divvy it up to the best performers?
Oh, is it because we have to have goals so if someone isn't hitting them we can put them on performance review and babysit them for months and months and months while HR does nothing?
What exactly are the executive goals by the way? How does someone qualify for a 200% sti like PZ gets?
The answer is that this system is corrupt, antiquated and broken and it allows executives to be non-transparent about how they appropriate huge amounts of money that is supposed to go to motivate employees. In reality it maybe motivates the 15% that get a few extra scraps and it demotivates the other 85% of the staff. But it allows the executive machine to keep giving themselves bigger bonuses, more stock options and more stock buys back and at the end of the day that is all they really care about.
So the moral of the story is forget about your goals, forget about your year end rating, forget about your year end discussion and forget about career progression. As the last comment says, if you do just the bare minimum it isn't a bad job. It's a part time job with full time benefits. Milk it as long as you can stomach the hypocrisy that is AIG.
Don't want to leave, I work the bare minimum, I'm very happy, best job ever!!! I'm just sas about strict wfh policy
I don’t think that all with fully meet should get 100%, the math would never work if that were the case (some should get above target, some target, and many of the meets will get less). There are never enough partially met/did not meets to be able to reward the number of top performers. You need many people in the middle “Meets” to get 85-90% of target to be able to reward the top performers. The problem is that HR and managers never explain this to the employees and so then people think that if they do the minimum to deliver on their goals then they should get their target.
No problem with above and beyond getting more than 100%. However, your total direct compensation is calculated by adding your base pay plus your target bonus (since only the monarchy get lti we won't even go there).
If you hit your goals you are sold from the day HR makes you an offer on the notion that you will get 100% of target ,depending on company performance, if you hit your goals. If you exceed you may get more, if you don't hit your goals you may get less. If this is not the case then remove target sti bonus from tdc because your target is irrelevant and frankly so are your goals at that point.
If you receive a fully met rating this year and receive anything less than 100% of your target sti you are being extorted by upper management. I challenge PZ and the marketing crew to try to spin it any other way.
To last comment, you are correct. But, fully met should equal 100%, no less. Past experience here shows that fully met equals less than 100%. Only above and beyond get 100% or more.
I’m relatively new to the company, but it is normal industry practice to have the top 10-11% of performers earn more than target STI, then say 40-50% get target and then the rest get less than target. You always have to pay many less than target to reward the top performers. The only way to avoid this is when the pool is funded by more than 100%
Management wants to layoff everyone and have Accenture take over everything .
Almost feels like failure is the ultimate goal.
For all of the dense people on this blog, let's read between the lines here.
Upper management sees 85% of you as easily replaced by a person in a lower pay grade or totally expendable so why would they pay you extra sti?
If you can't understand and except that then leave.
The move back to forced rankings is a calculated way to discourage employees in business units that are not performing. It is a gentle or not so gentle nudge to encourage resignations and avoid paying layoff packages. The side benefit is that it creates a surplus of funds so upper management can pad their pockets. It's a win/win. PZ looking for a big voluntary resignation this year to hit cost reduction goals.
If you have another opportunity, take it. If not, don't stress about this place. Keep collecting a paycheck and send resumes when you are supposed to be working on AIG's dime.
There is a large pool of money that is earmarked for bonuses. When you take 30+ thousands employees and multiply that by the average target bonus it equals hundreds of millions.
PZ and crew have decided to use this money as an executive slush fund. The implementation this year of an old concept, forced rankings, allows upper management to skim a portion of 85% to 90% of the employees bonuses. By only allowing 10% to 15% of the work force into the above and beyond bucket you can essentially skim money from the remainder by giving them a fully met rating regardless of their accomplishments, thus less than 100% of their target. This creates a huge surplus of earmarked money that can then be used for "Top Talent" without hurting the stakeholder.
When you consider that the employee population at AIG is maybe 60% of what it was just a short time ago, this becomes a particularly divisive move. Most of the fat has been trimmed from the AIG ranks so if you have a team with several high performers there is no way to fairly compensate everyone. The reporting manager has to pick maybe one on their team, maybe none for above and beyond. The rest get fully met or less. No exceptions, no debate, just do it.
So if I am a high performer and I busted my a$$ in 2022 only to get fully met and a portion of my bonus withheld, it doesn't take a rocket scientist to say why am I working so hard? Why am I staying extra hours? Why do I even care?
This executive team has sunken to new lows to reward themselves and protect the almighty stakeholder. They have done it on the backs on the average employee. If you want to volunteer extra hours for this dump, that is your option. This is the last straw for me, I will officially do as little as possible every single day until I leave or they get rid of me. Let the top 10% to 15% do all of the work if they are the only ones getting rewarded.