Does anyone know if we’re going to be eligible for raises or a bonus during year end reviews?
I know the budget is tight here, but I need to get compensated for the work I’ve been doing…
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simple VPs and above bonus the rest of you keep spreading their lies lmao leave you will be happy raises...lmao
For the "Nope. Not until April" poster. Assuming you are a people manager which you probably are not so you have no idea what I am talking about. Anyway go into Workday, pull up one of your direct reports, Compensation, Plan Assignments. You will see one for Merit and a 2% annual assignment.
Come next year Frank will decide if he really wants to do 2% or change it. Although since we went to Workday it has been 2% or less. Your SVP or BU Pres. can also hold back. For example one year my BU Pres. held back .5% so we only have 1.5% to give out. He used that .5% for promotions and retention throughout the year.
As others have said your direct manager just makes a recommendation of what you should get. Then every level above them can adjust it all the way to Frank. This also applies to any bonus. In my history I have never had any of mine lowered and in one year a few of my employees got some additional bonus from higher up.
Why are people sugar coating the reality? Reality is a pool based on 2% of everyone on your team's salary. Subtract 1/4 percent for promotions or just in case events. Leaving a pool of 1.75% to share among all the team members. Anyone getting more than 1.75% is taking it away from someone else's increase. Not everyone will receive an increase. You can use the same formula if the pool is 3%. Your manager does not have the final say in how the pot is divided. Heck your manager's manager doesn't have the final say. Do not dream about a huge increase, because you will only be disappointed.
Look into your heart. You know it to be true.
Nope. Not until April.
If your a manager you can see in Workday merit at 2% assigned to your employees.
The person said 2% because what it’s been for the last Several years. I worked there over 20 years and was always rated high on my performance reviews
Another lie - raises are not 2% and in fact haven't even been announced yet. Why do people say things on social media they know are not correct???
Cost of living adjustments will occur in April. They will be 2%. Then they will make an excuse to delay them until July.
Just like any other year.
Of course there will be a merit pool and an incentive compensation for 2022 performance.
If I’m not compensated in January for taking on these extra jobs I’m out of here this is ridiculous….
Good luck with that
"I know the budget is tight here" the budget is only tight because they made it tight. As of Q3 Fiserv net income for the year was $481 million, $53 million better than the same period last year. If they are saying things are tight, it is just because they are choosing to put money into stock buy backs and not giving any to the employees.
Typically that isn't decided until near the end of January when the full year 2022 financials are done.