Does anyone have any actual data points on whether people who quit in January still got their AIP paid in February / March? The AIP document says that people who leave after the year is over, are still eligible. I wouldn’t put it past leadership to just give leavers a bad rating but I hope I’m wrong.
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@eepg+1kzm3xVl: Search 3M Go for a document titled "Understanding Your Annual Incentive Plan" which states:
"In the U.S., here are the effects of employment status changes on Annual Incentive Plan (AIP) participation:
Retire:
Prorated based on time active in the plan
Resign or terminate during the annual performance period:
Canceled/forfeited, except in certain limited circumstances.
Resign or terminate after the annual performance period but before payment:
No reduction in incentive based on time active in the plan
Death:
Prorated based on time active in the plan."
Note that the annual performance period is Jan 1 to Dec. 31. Since leaving in January is "after the annual performance period but before payment", the employee is still entitled to the AIP payment in early March. If the employee is in one of the high deductible health plans with a health savings account, they also get to keep 3M's annual contribution to their HSA made in early January.
I was almost sure I heard you didn't get it if you left before receiving, or that it was secretly reduced but a comment above is a counter example. That said, it's usually paid out in February anyway, at least in my group, so maybe leaving in January is a different story than leaving in February.
I'm not aware of any specific data points on whether people who quit in January still received their annual incentive pay (AIP) in February or March. However, the fact that the AIP document states that people who leave after the year is over are still eligible for the pay suggests that it is intended to be paid out in that situation, assuming all other conditions for receiving the AIP have been met.
It's important to note that each company's policies and practices may be different when it comes to AIP and other compensation matters, so it would be best to check with your specific employer to understand the details of how it handles these issues.
Additionally, regarding Leadership giving leavers a bad rating, that is a potential issue, in any organization, but it's not clear whether or not this is a common practice. And it would be wise to check the company policies and practices regarding ratings, evaluations and feedbacks to ensure your fair treatment.
Wow 38%... is that TEBG?
Re: @wse+1kzm3xVl
“Those poor folks… Dec 31”
If they left on severance, the AIP is included at 100% in the calculations for weekly salary. They may be making out better than the rest. At last check one of the BG’s was at 38% of payout. Others around 50-60%.
Search 3M Go for a document titled "Understanding Your Annual Incentive Plan" and keep a copy of that at home just in case. Also keep a copy of your 2022 planned base + AIP pay info from Workday. One data point- my significant other left the company in February 2022 and received the AIP payment in March.
During normal times, YES you would be expected to collect your AIP if you left AFTER Dec 31. Those poor folks whose last day was Dec 31 don't get a dime.
However, given what we read about copious libations of imported wines at the last leadership conference, I wouldn't hold my breath that you will get paid. That extravaganza has to be paid for somehow.
Good luck in getting something and also finding a better work climate. You can't do much worse than 2023 3M.
Which BG are you from? Don't expect much AIP payout for last year performance though