Thread regarding Wells Fargo & Co. layoffs

@5vqn+1qoUfhuY, in case you didn't know, the word "integrity" does not exist in WF management's vocabulary. So WF managers had no idea what you were talking about as they do not speak the same language. But I commend what you did, good for you.

Do you still get a bonus or merit increase if you get inconsistently meets? My manager told me no.

I have received an IM. Am I on the list to get fired? What my bonus could be?

By the way, when I disputed my Inconsit Meets BS, I was told by my 2-up manager that this would put me in the line of fire of my 3-up manager. Basically, he said don't cause problems... take the IM and the 1/3rd of your bonus because you aren't the only one getting an Inconsist Meets.

I disputed it anyway because I have integrity and I was already seeking a job elsewhere. When I left, I left a scathing exit statement (as allowed by HR) slamming the whole department, and especially my narcissistic 3-up manager Mike S.

YES - the SPINELESS MIDDLE MANAGERS are forcing the even lower AND EQUALLY SPINELESS MIDDLE MANAGERS to rate perfectly good and caring and hard working employees INCONSISTENTLY MEETS so they can save the bonus money for themselves and make you mad enough to quit before these a$$holes have to pay you severance.

So - if you are thinking you'll get canned this year, take the BS and wait it out. They still have to give you your full severance if they can you. If you can't take it any more, go look for a job as if that is your job. You will find a better opportunity and then you can tell people, like I did... "Kellie, Janet, Mike and Todd - GFYS I QUIT!!!"

All groups have "attrition goals."

In our group we are behind our attrition goal by 200.

I have around 70 in my reporting line. The lowest anyone is rated is Meets, last year i had 2 rated lower than Meets. Not every team has to meet the ratio, at some level there is a rollup, but I have not been asked to change mine. Prove throughout the year your team’s efficiency, and then create strong arguments for the ratings. I can speak on behalf of anyone on my team and list their accomplishments and reasoning for rating.

"Honestly, if you are a high bonus person and you get a 2 it's time to look for a new job."

Exactly this, which is yet another piece of evidence that literally everything that Hudson Yards does is to drive voluntary attrition. Everything. Getting rid of the domestic work force as cheaply as possible is ALL that they care about. It takes priority over everything else, including regulatory issues, profits, production, innovation, etc.

Official policy - there are no forced curves or quotas.

Reality - you either have your team forced into the curve or your manager will do it for. You will also likely take a hit personally for not being a team player.

And really, the ratings don't matter much except it has a huge impact on comp. And with the new comp guidance, you are constantly setting the new baseline each year. Let's say you would normally get $30k for your bonus. A 2 rating would most likely drop you down to $15k or less. So you lose your $15k this year. Next year you get a 3. Generally that means you won't see much of a change from your baseline. Now that your baseline is $15k you stay at $15k. They don't move you back to what was your target bonus. It will take you years and years to just get back to where you were. Honestly, if you are a high bonus person and you get a 2 it's time to look for a new job. You'll be losing out on thousands and thousands of dollars until you are in a new position and your bonus resets.

Not enough people understand how damaging this baseline budgeting is when used in conjunction with a forced curve.

BRAINS!!!

Yeah, it's pretty comical that the id--ts in leadership roles can't figure out why people are "disengaged". Really? Gee, I don't know, because you constantly lie, sh!t on your people, make things up about them to support bell curve ratings, and make stupid decisions? If a plebe stubs their toe, their rating goes to S and pay increase goes right along with it . If an exec makes a mistake, no worries. Still getting their monster bonus right? Right. F these clowns and their rigged system.

@1hzj+1qoUfhuY
"The result is managers feel much the same type of pressure to concoct ratings as did our personal bankers to concoct sales".

This is a good analogy. I was directed by my manager pick from our team who would get these ratings below a meets and for layoff consideration. There were no problems with our people and my manager knew that. Most of the team was ultimately laid off and so was my manager. I am still in contact and my ex manager gave me an earful on how all of this works. It is bad, so bad and they wonder why people are disconnected.

he also collects random samples of performance reviews to check for quality

The firm denies in writing on various Teamworks sites that there’s a forced ranking. In practice, however, this denial turns out to be dishonest as the rating and calibration process unfolds. There is tremendous pressure on managers to adhere to a rigid quota-like system, reinforced by the knowledge that the next layer of management up is eyeing their adherence, and so on. The result is managers feel much the same type of pressure to concoct ratings as did our personal bankers to concoct sales. While the firm has achieved much progress in cleaning up its sales practices, its internal HR and compensation practices are riddled with dishonesty, opacity, and hyperbole.

Non favorites are easy targets. People that work hard are easy targets. Back stabbers will point fingers at high performers so they don't get downgraded. Working here is like High School.

if you were meets during mid year and are now below that with. o communication or write ups between then and now the fight it if you can. you won't win but worth fighting.

Bottomline for every area at WF is YES. New people to the group are easy targets. Any long leave and you will be IM. Some dont see it because it can be masked if you have enough high turnover positions. I dont so I just rotate the IM designation. My teams all know it and dont take it personally but 1 year out of 12 they will be less compensated.

Not all managers, depends on their manager and the larger group's roll up. I've never rated anyone below a meets that I didn't have facts to justify the rating. I've never been forced by my manager to rate someone below meets. I have been advised to drop someone to a meets from a higher rating (or to an exceeds). I guess if you think about it, someone always has an edge over someone else. So unless all things are equal, someone isn't performing at the same level as someone else so compared to other workers, they can be below a meets.

Yes. If you have employees in non hub locations, it’s really hard to get management to sign-off on any rating above inconsistently meets. Basically, the company wants these people out.

In my group, no, but if you had an employee that stubbed their toe one time, like an informal warning that never recurred, during calibration they used that to justify a change to pushed to inconsistently meets. It's awesome how on the high end of the scale 'good deeds' must be consistent and throughout the entire year, not one time or occasional things, but below meets a single minor issue can tank your rating for the entire year. One more reason to say 'F off!' to Hudson Yards.

God, this is absolutely F'ed up.
What's the point in staying (other than if you have significant severance). I mean, you are already fired if they give you an Inconsistently meets or Needs improvement when you know you are doing the job. Most people are. Very few aren't and that would be picked up early on instead of being blindsided at review time.

"I'll be professional, but I'll be sure to point out how it's very hard to consistently meet expectations when you don't know what they are."

This is right on. All of my reviews have been "keep doing what your doing" and if they rank me, they will have a problem explaining.

But at the town hall they said there is no stack ranking… :’(

Not until calibration. My director met with all of us managers on a call and told us we would stay on the call indefinitely until we volunteered enough names to meet the target they wanted.

I can't wait to talk with my manager if I were to somehow receive an Inconsistently Meets.

I'll be professional, but I'll be sure to point out how it's very hard to consistently meet expectations when you don't know what they are.

Yes, I was forced to. I initiated an EthicsLine case (probably in turn setting myself up for retaliation) but it’s bogged down and won’t make a difference because lying about HR matters is still acceptable.

Yes. 1 on my small team needs to receive Inconsistently Meets so I won't lose another (need to rate the person in tbat vital role as Exceeds). I wish things were different, but they aren't. The NI staff member will be gutted, since performs exceedingly well, too, but I have to make choices.

Consistently exceeds 5%
Exceeds 15%
Meets 60%
Inconsistently Meets 15%
Needs Improvement 5%

Overall rating guidance

Consistently exceeds

• Consistently exceeded expectations in all objectives

– performance outcomes consistently exceed most or all expectations

• Words to use in write up: Exceptional, role model, takes ownership, extraordinary, outstanding, excellent, sets the bar

Exceeds

• met all objectives and deliverables, exceeding expectations in some areas

– performance outcomes consistently met and exceeded in some expectations.

• Words to use in write up: always proactively, initiates, often exceeds, stands out.

Meets

• overall objectives were met consistently/

– performance outcomes consistently met expectations

• Words to use in write up: willing, open to, consistently, effectively, dependable, on par

Inconsistently meets

• some objectives or deliverables have inconsistent outcomes
• performance outcomes are not sometimes met, but not always

– performance outcomes inconsistently met expectations

• Words to use in write up: sometimes, inconsistently, occasionally, ineffectively, inefficiently

Needs improvement
– performance outcomes are significantly below expectations; critical objective failures

• unsatisfactory outcomes are consistent across all objectives
• critical deliverables or timelines were missed consistently across multiple objectives

High quality documentation to support the overall performance rating is critical. Examples are provided

Focus on ensuring all employees have clear expectations set at beginning of year. robust coaching and feedback conversation and documentation throughout the year, and formal evaluation at the end of the year that supports the conversation recommendations.

Senior leadership shared the details during a meeting for the forced ranking system. This information was not shared with lower level managers. Managers are receiving "skill building" training so they know how to word the evolutions.