I got a coaching memo around the beginning of the month and dated to the end of this month, any idea what is going to happen? especially with the coaching memo folks? are we next to get laid off?
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I just gave 2 coaching memos at Schwab. Ignore the earlier comment - a written warning is precisely what the memo is. As opposed to simply a conversation with the employee, this is documented. It’s not formal, but is the first step in documenting performance issues so should be taken seriously.
A good manager should be using this as an opportunity to communicate with the employee that the issue is serious while also setting very clear expectations for how to improve.
I have seen lots of people self-assess, take the feedback, make changes, and go on to be top performers. They just needed direct feedback and/or a “wake up call.” If things don’t change, the next step is a performance improvement plan...there needs to be lots of documentation before a performance-based termination and most of the time people see the writing on the wall and leave on their own well in advance.
If it were me and I wanted to stay in the role, I’d
take some time to seriously think about the concerns, how I might be contributing to the problem, and make a plan for how to move forward. Ensure that your leadership sees you are taking the feedback and making changes.
If the manager is completely off and you genuinely don’t think they have your best interest in mind/there’s not a future for you on that team, then I’d consider looking at ways to potentially roll off to other projects, switch teams, etc.
A coaching memo is the old verbal warning. Be worried, that could easily escalate into a written warning. You don’t want a written warning.
Schwab is a pay for performance company. You should be concerned. Low performance and attendance puts a target right on you. This is the easiest way to rid themselves of problem employees.