Did they eliminate the Business Unit specific modifiers for this year (2022 payout)? How can they change the goals after we worked towards them all year?
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Get a grip. performance overall was so poor no one was going to be happy with their STI. Payout would have been well below 87%. Sam and Hans took a proposal to the board that would ensure employees received a good STI.
They were not announced and I had looked at the page days prior to the announcement and what is there wasn't there before. They purposely moved it down to 2023 to make it seem as if we misunderstood what was there but it was there for this year. I also recall Kyle sending out an email after 2nd quarter announcement not to worry about Sam's email which was her first doomsday email and he said we were tracking well because of all of the c-band delivery in 2022. Now this.
Yes your manager should of notified you. You CAN MAX YOUR MBO tho every quarter at $4500 and they are giving out around $2000 a month in spiffs for leads.
I still believe we should be hearing more on BU specific leading indicator? All 2022 Plan docs include this and the fine print disclaimer says that Plan Doc is essentially the one source of truth…
The 50% split is new to the 2023 plan year paid out in 2024 unless it is another thing they didn’t mentikn.
According to the STI page, the 87% is for the company piece, and applies only to 50% of the payout. The 50% is supposedly still the business unit.
Dang dog, reminds me of my childhood when everyone got the same trophy, just for participating! I feel that my BU exceeded 87%, doesn't matter, they can change the rules as they go, what a joke! Before long all wages will be the same, bonuses the same, and performance appraisals the same. We wouldn't want to hurt anyone's feelings! Companies that behave like VZ are destroying this country.
This makes me think one business unit (likely VCG) was so far below their target and payout that leadership didn't want to lower morale with a payout 20-30% below the other business units so they just took the average for VCG, VBG, and GNT and just gave everyone the average.
Talk about a good way to lower morale. At this point why don't we just pay everyone the exact same salary and commission regardless of performance!
Dec 16 we all received an email stating STI includes "leading indicators both Verizon wide and bu specific which can increase or decrease the payout". So yeah, they lied.
I’m excited about 87%. I was expecting below 75%.
Every year since Hans started, the STI is trending down:
2019 115%
2020 110%
2021 107%
2022 92%
2023 87%
Hmmm....
It might not be "new or recent" as one of the responders said.... but how are they going to make people chase goals to earn them more money for the year, then tell them JK after the year is up... Thats not a good look.
Leadership has absolutely no idea what they're doing, making it up as they go. Set the expectations lower, then celebrate getting 87% & they think they look like heroes! Get used to it people, the goalposts keep moving, stay agile & take what you can get until you can't. Hans wants to say that HE saved the day by taking over in December. HE is our savior!
The changes to STI formulation went back to what they were before after last year's STI came out, where some BU's received a lower STI %% than others.
This is NOT new nor recent.
I don't think those changes were announced before today. Odd that they were able to change this after the fact. I have no idea if my Bus Unit would have gotten above or below 87% but it seems shady to change it after we worked towards certain goals all year
Yes, they eliminated the business unit and overarching leading indicators, making it a company wide STI. No word of this change either prior to today.
Yep, was done in the beginning of year. Check out the STI page