3s and 2s will be the norm. I was told one of the managers will purposely give 2s in order to "encourage" his employees to work harder to achieve a 3.
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The difference in both pay increase and MIP payout varies significantly between a rating of 3 and 4. For example, the pay increase is 5% for '4' in contrast to 2% for '3'. My manager says that everyone should expect a rating of '3' regardless of your effort. It is a way to save money. If saving money is the objective, just pay everyone 2% despite their rating. Management should not lower or normalize rating of employees just to save money. It might not be acceptable for some employee who gets a high rating but gets no raise or same raise as everyone else.
I was told that only 20% will get 4, 20% will get 2 and the rest will get 3. This is similar to the rating system at GE. Even if you exceed most of your goals, you will still get a '3'. You have to exceed all your goals in order to be considered for a '4' rating but not guaranteed. The incentive to work harder does not exist. Why work hard at all or put in additional efforts when you know that the probability of getting a '4' rating is low?
Why would I want MIP for myself when I can create value for the shareholders?
They will figure out a way to sc--w some dollars from the employees. The real Medtronic mindset
MIP still exist?
Honestly, if you did a decent job this year you will get a 3 for just doing your job. Those 2's will be reserved for the under performers, and here we are, no hope if you just played the system.
I’ve adjusted my work effort to the 2. Gaslight us and force us all into a 2 rating, that’s the kind of work you get. And most of us will never be eligible for a 4 or 5 in the new performance review system
It should be good/close. What people don't see coming (because they weren't transparent) is the individual multiplier. I think they are going to want to handout 2's like candy, and I bet the downward adjustments is larger than the uplifting a 4.
Boy I hope it slips out before mid July, Its a hassle to find a nice shore hotel in August
Yes. Since we breached EPS target. Everyone will be getting 90%-110% depending on your individual modifier
Hnnnngh I love to give my MIP to all the shareholders instead! LOVE ME SOME EPS!