Thread regarding Capital One layoffs

To the original poster you meant the bar is always being lowered.

Mid year calibrations are coming what a nightmare.

Shut this piece of sh|t down immediately.

my a-hole boss went to capitol 1 and did not last long which is surprising i wud guess they wud like a-holes to bully underlings

The place is toxic and their performance management system is outdated, I wonder even after doing All Associates Survey every quarter nothing changed, they have been getting feedback but still no improvements have been made, It shows that AAS is just BS and it is used as a tool to punish associates.

AGAIN???

LOOK AT THIS NEW GLASSDOR REVIEW.

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https://www.glassdoor.com/Reviews/Employee-Review-Capital-One-RVW75405301.htm

1. 0

★★★★★
Current Employee
Unfair Performance Management Practices
Apr 11, 2023 — Anonymous Employee
Recommend
CEO Approval
Business Outlook
Pros

Love the culture and people

Cons

My experience at Capital One was not what I expected, and I would hesitate to recommend it as a workplace for new hires. The performance management process felt unfair, with success often seeming dependent on the relationship between an employee and their manager. In my case, I felt as though my manager's personal opinion of me negatively affected my performance evaluation.

The stress of trying to meet what I perceived as arbitrary benchmarks took a toll on me, and I struggled to maintain my values and beliefs. I often felt like I was being taken advantage of, with my manager assigning tasks that seemed designed to make me fail. Unfortunately, my concerns were not addressed, leaving me to navigate a difficult work environment.

In my experience, being placed on a development or coaching plan by your manager can overshadow any progress you make. The power dynamics between managers and employees can be intense, and in my case, I felt like my manager was not leading by example. Moreover, it seemed that higher-ups enabled this behavior.

It appears that job security at Capital One can be challenging if you haven't been with the company for a long time. Many new hires have joined in the last few years, only for the company to later realize they may not need all of these employees. While it's possible to have a positive experience if you have a fair and unbiased manager, my personal experience was quite the opposite.

During my two years at Capital One, I encountered management issues that I found deeply troubling. In conclusion, I would advise prospective employees to carefully consider their options before joining Capital One. In my experience, the company's performance management practices were problematic, fostering a toxic culture that can set employees up for failure.

Advice to Management

Develop a transparent and unbiased performance evaluation system: Implement a performance management process that focuses on measurable achievements and contributions while eliminating personal biases. Incorporate checks and balances to hold managers accountable and prevent manipulation of the process.

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The absurdity is with forced or stack rankings is that it can only be done for major layoffs and not yearly as a philosophy. Because then you're cutting into the bone and there is no one left to recruit.

Refer to this thread

https://www.thelayoff.com/t/1lvq9NTe

TheLayoff.com

Thread regarding Capital One layoffs

Feb 2014 - This person's Glassdoor review summarizes their performance management
https://www.glassdoor.com/Reviews/Employee-Review-Capital-One-RVW3658774.htm

0
★★★★★
Former Employee, more than 1 year
Be Warned - If You Don't Play the Game, You Will Get Booted Out!
Feb 7, 2014 - Senior Process Manager in Richmond, VA
Recommend
CEO Approval
Business Outlook
Pros

Good benefits and nice perks at West Creek - that's about all I can say...

Cons

(1) Raises, bonuses, and promotions are based on how others view you instead of the quality of the work that you do - if you are a good "politician", then you will excel here. This leads to people being promoted into people management positions that have no idea what it takes to really manage people. Rewarding people who do nothing but socialize with higher ups is not the way to run an organization.
(2) Very stressful environment where backstabbing and politics are common - I was placed on a PIP because I asked to change managers and the PIP contained untrue information about my work performance. After my PIP was completed and I did everything I was told to do, I was told that I didn't meet expectations and let go - with a huge severance and the option for re-hire. This is due to the fact that they knew I could sue them for gender discrimination and disability discrimination (I ended up having to go on stress medication due to the bullying I endured at Capital One). Severance letter released me from being able to file legal action. In my entire career, I have had better than satisfactory performance reviews and have been promoted over and over again - I have never been written up for performance in my entire life until now. They have trashed my reputation and my career.
(3) This company has a known reputation for being a horrible place to work. When I mentioned my experience to people who don't work at Capital One (such as my doctor), their reply is always that they have heard this happening several times with other people.

Advice to Management

Wake up! You can't run an organization based on popularity versus actual work performance. I had a manager actually tell me "I can make sure you end up in the bottom 20% in calibrations (performance reviews) and ruin your brand in the organization." Another manager told me that calibrations were based on "20% work performance and 80% of how others perceive you." And you wonder why people are running away in droves? These are your managers talking here...Get some managers in there with actual management experience that know how to lead a team effectively!

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Simple arithmetic. 15% of approximately 50k employees means that Al Capone aka the Richmond Mafia plan to ki-l off 7,500 people.

there is nobody left when done twice a year. Dont overhire !!!

THAN YOU FOR ELOQUENTLY SUMMARIZING ALL THE ISSUES!!!

I realized after 2 years. It is exactly as stated by the poster. It took me 2 years to become "woke" about the absurdity of their performance ranking system. And I'm not extremely liberal either pushing anti-christian or anti-conservative agendas. Nothing more needs to be said. Bravo.