What system or company’s system should we be using to determine promotions and raises?
10 replies (most recent on top)
Based on meeting agreed upon goals, work ethic & reliability to get the job done. I worked for a very large corporation prior to ExconMobil- they listed jobs, acknowledged hard work, dedication and never compared employees to others. You meet the goals, you get a good raise- approved by your direct Manager.
An original Magic 8-Ball could do no worse.
I like dice idea. No pds, no need for managers and the end result is the same.
I left Exxon a little over year ago for another Fortune 100 company. The ranking and raises are simple: keep paying me and I’ll keep showing up. We’re struggling to meet our hiring targets. The job market is so hot right now and I’m constantly having recruiters on LinkedIn reach out. XOM employees should have the same mentality.
I work for a fortune 500 size private company and we have an absolute ranking system. You are assessed based upon meeting objectives, you are either on or off track. Most people are on track, the company does not mandate a % that is off track. The company does mandate % for the overachiever category that is less than 1%. The company used to have relative ranking but got rid of it 8-10 years ago. Company I work for is very successful and has grown exponentially over the last decade.
Dice. It would save us all time.
Big companies must perform a relative rating process in addition to simply meet/exceed KPIs. The best one I've seen from a Fortune 100 company is a mult-dimensional rating of employees, i.e., employees can be Excellent in one dimension and NI in another, etc. HR forms peer groups based on similar roles and grade levels. Peer groups are evaluated and the results are then plotted as a grid or surface depending on how many dimensions. The results are tied back to salary budget by allocating %increases as a function of where one sits relative to his peers. Any movement around the playing is acceptable as people have good and bad years. If one gets too much penetration past the midpoint of the pay scale HR initiates discussion around promotion. Management has a separate succession process identifying individuals for management training and assignments. System is well understood and accepted all.
Ask a real (pre-merger) XTO person, if those endangered species still exist.
I have worked for 2 other Fortune 100 companies.
At the beginning of the year my boss and I agree on my tasks and how to measure my performance.
I meet once a month with my boss to to discuss my annual tasks and evaluate how I am doing on the tasks. Sometimes tasks are removed and added based on shifting priorities or unanticipated tasks.
At the end of the year my boss decides on whether I exceeded expectations, met expectations, or needed improvement. I would never be surprised because we met regularly to know.
Most people meet expectations and it is the small slice of overachievers who exceed expectations. Improvement was saved for those just not cutting it and they were never surprised. They could go on a PIP but they usually left because they knew they weren’t keeping up.
Here's how it worked in my last company, as an experienced hire. There are no CLs or PADP, just a requirement to have a 1-1 with your supervisor once a year to ask if there's anything they can think of in that moment that you should know. Don't bother to prepare for this meeting because 2 out of 3 years it will be canceled anyway. You get a raise once every 5 years, or when you write a letter to HR asking for one, maybe. Managers are selected based solely on who the VP's golf buddies are, and when that VP retires, the new VP fires all the old guard and brings in his own golf buddies.
I can't believe some of y'all hate the PA system so bad without understanding just how bad it can truly be. ExxonMobil is an ivory tower for careerists with zero outside perspective.