I don't know many people who are satisfied with their merit raises - if they got one in the first place. I think this is intentional. I think their main goal is to drive attrition to reduce the number of needed layoffs and save money on severance. That's the only way I can explain some of the borderline-insulting numbers I keep hearing from people.
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Scharf had one job. Get the Fed Cap removed. HE FAILED. Can I do his review? GTFO.
YOU HAD ONE JOB!
@nwh+1kSm352F this isn’t accurate. I got laid off a couple of years before schart and my severance package was nowhere near 1 month per year of service. More like 12 days per year of service plus a 2 month notice period.
OP is written like a true entitled scrub. Knowing and understanding I could full well reap what I sow, I am all for Meets getting 1-3% Merit at best along with 2-4% of base as a Bonus, below Meets getting nothing AND no bonus (if eligible). Above Meets getting 4+% and higher bonuses. Why shouldn't the hard worker (oh wait, the trolls here will label them boot lickers) get paid more for stretching their roles? Meanwhile jokers who want to skate by, quietquit or act their wage, get it girl! Sit there, don't hit your targets, lend a helping hand or go above and beyond and wait to be put on notice, PiP'd then dismissed.
Teams need 1 or 2 dead wood on the team. That way, unless there are algorithms that make the choices, those pawns will be added to the culling pool while the ones with high output won't. In the employment race you don't need to be number, you just don't want to be last.
No one "needs improvement" more than Scharf.
Severence package is already reduced. It was a month pay for every year pre-Shart.
There is a lot of dead weight floating around. In my area, the dead weight causes more work, so I hope this works.
I have always been exceeds and consistantly exceeds. Now I get a "meets" while verbally telling me I'm a rockstar and far exceeded the rest of my team..hm? I remember reading that Chuckles put pressure on management at Chase to lower the grades given at annual review to lower bonuses.
looks like that, did not expected exceeds but not inconsistently meets either with some made up comments.
Of course it is their goal and it's been very evident. The failing Schart regime has instituted so many changes to drive this and will only continue to do so. I bet one of his ultimate goals to really stick it to people is to reduce the severance package.
A couple of years ago, and a couple of years in as CEO, Chuckles was asked in a townhall if he heard of the "Great Resignation", to which he replied, "No". Good time to do attrition, lol.
Attrition has been Chainsaw's MO since he arrived. The C-suite thought that the dead wood would leave instead of highly motivated and people with institutional knowledge. At some point last year, C-suite realized that their attrition goal was losing the wrong people. So this year, here's a small bone. It is already too late.
That’s a bad decision if so.
Your highly motivated employees will leave, which will leave you with the complacent employees that just check the box to get their pay check. We have too many of them already.