The real determinant for attrition will be 2022 pay raises. We should know something in mid Dec. Most will get pay raises below inflation. Upstream pay increase will be terrible because curves being reduced and many have dropped in ranking after PIPs. I expect more attrition in 2022.
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Don't worry the 401k match is coming back and all will be OK.
For sure no more 8%. The board is hearing that attrition is a major issue. The signal that this is true is the hiring.
Many on NSI did not deserve it. If NSI system was based on actual performance, DW would be PIP’d.
The PIP had a 90% pass rate when they knew there was a layoff that would cull everyone that passed.
Also, that 90% pass rate is only for the 10% that chose the PIP instead of the PIL. So, 91% of the people deemed NSI left voluntarily or failed their PIP and the rest were laid off.
I think the key statistic is what percentage of the previous year’s NSI group is still with the company. My guess for the 2020 NSI squad is that there may be 1 out of 1000.
But don’t fear the PIP! Embrace it! Start your job search now, before they have a chance to do you dirty. Leave on your own terms. If you’re lucky, you can line up a new job and get PIP’d at the same time! Then take the PIL and enjoy 2 salaries for a few months.
It may drop only because the amount to people who are about to leave the company with their assets being sold between now and 2025 is going to cause a massive headcount reduction. Only time will tell. Why is anyone worried though? The PIP has a 90% pass rate!
Apocalypse over and everything returns to normal?
Like - Heaven?
Yes, 3% NSI next year is a rumor, but not true. 8% NSI each year for the next few years. We don’t want those who were NSI and NI this year to quit, we need them. We need them so we can NSI them again next year. Every NSI that quits this year means one NI will take their place, we will be moving those ranked good to NI and NSI. Now for the bad news, the 8% is not based on the current workforce, it is 8% of what the workforce was in 2020. As people have quit, the actual percentage increases though the actual number of NSI is the same. We need to increase hiring so the new hires can be in the 8%.
You'll be able to move to the new companies that buy Chemicals and a few F&L divestments. So the NSIs by nature will drop.
I notice neither BASF or Rosneft have much presence on the Layoff board.
Good sign.
it made may day!
The beatings will continue until moral improves -BK
But don’t worry! It will go back up as soon as outsourcing gets back on track.
GET OUT!!!
I understand that there is consideration to reduce the %NSI next year. But not a decision yet.
Will the workers at the Texas refineries & plants be laid off?
No, it will be 8% through 2025,
it's what many managers are saying now to stem attrition, but they also disclaim that it's their guess or personal take. some managers had said last year that the % will drop in the 2021 cycle but it didn't. many people do think it'll drop next year because we are seriously losing a lot of experience to this PIP disaster.
some functions that hadn't been affected much by MSP or retrenchment are barely functional because of the crazy attrition. my group interact with the controllers and in our area now we can hardly get sound controllers guidance. sometimes we need to teach them where to look for basic info. and the new people can't quit fast enough because there's no one experienced to guide them. there are much better jobs outside for finance and it's a download spiral. it's going to take many years for us to recover from this 1.5 years of mistake, and it's not something that can be fixed simply by throwing a lot of money into it
Yes to the first part, no to the second part
NO. PIP will not be less then dividnd %! This is because MOTIVATION is needed. when stock goes up and div % goes down then PIP will go down!
THnks