With all the evidence that the ranking system is outdated why hasn’t anyone submitted a shareholder resolution to change it? Seems the shareholders would benefit from the better performance a workforce that wasn’t demoralized would bring.
4 replies (most recent on top)
@OP You have a laughably inflated view of your individual value and importance as well as that of your peers.
Shareholders of companies like Exxon do not, in general, take suggestions from disgruntled employees nearing retirement (or who should move on, but just won’t).
There is nothing in your post that suggests any level of understanding about how a corporation is governed. It is not a democracy, at least not for you.
The PIP is one of many tools being used to nudge highly-paid, underperforming employees out of the door. It’s ugly, but their hand was forced.
Sorry, but most of you aren’t adding anywhere near the value that you think you are. In fact, there isn’t much to do at a large operating company these days besides maintain the status quo, and market forces dictate that they don’t need to pay you $180k/year or more plus benefits to do that. Welcome to capitalism.
The leadership team and shareholders are being rewarded by Wallstreet for the way things are currently being run. Until that reverses I don't think they have any incentive to make changes like these.
It is well known fact that if you with upon a shooting star all your dreams will come true. Good luck.
As a shareholder, I can’t wait for you to get fired and replaced by some underpaid, overseas minion. A robot would be preferable.