All VSP employees, eligible for 2018 STI will only receive 100 percent not the 115 percent approved by the board......needless to say our 2018 efforts are not valued the same as those receiving additional 15 percent. Please know this was verified by HR.
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Offload poor performing undesirable employees? Not the case, more to offload salaries and tenure..that's facts.. in actuality, buy outs are usually taken by your good performers who know they will not struggle finding their next career. Those who stay are likely newer, denied based on department needs or tenured and holding on as long as posdible. The VSP calculation if off payroll 3/22 or June is prorated with 2019, so actually you do get a little extra which is not far off from the additional 15 percent.
The VSP program really was a terrific offer, and I gladly accepted based on the information provided as so many others did. However, everyone's 2018 efforts should be rewarded equally. Completely agree that the increase was generous, since a lot of my coworkers who contemplated taking the big step, will be faced with a ton of additional work and hopefully will not just end up leaving in any case. As said , I do appreciate the comments. Have a great day!. Old salty out.
This was part of your enhanced severance agreement, so why did you volunteer if this was not acceptable to you?
Dear OP, Why are you salty? Clearly you are not a strategic person & are incapable of seeing the big picture. While Verizon is losing a lot of talent with VSP, they also used this to offload poor performing / undesireable employees. The latter represents the majority. These employees are being paid handsomly to depart and gain freedom from big red in a decision that was 100% voluntary.
If the board had approved anything less than 100% for those that remain, it would have been a horrible look and an HR nightmare. Not every person who remains receives the 115%. But, for those who were denied VSP and performed well enough to earn the 115%, it is pleasant gesture.