After 2 years of "below expectations" I had a massive argument with my manager, and quit the company. Previous manager for 7 years, I always achieved expectations, and we got along great.
BNY abuses PMP to push people out the door, by demotivating, depressing staff.
Thats how they get attrition without having to pay severance.
OP here again. After a year of retirement, my life is so much better. No stress. Doing a lot of canoe trips. No money worries, 1m portfolio churning out 4%.
You have it exactly right and it’s done to drive attrition. On the bright side this is why we haven't had large layoffs for 3 or 4 years.
Managers who are tasked with giving the performance ratings are forced to meet certain thresholds of below expectations. This is from the top of the house. So, we have a situation where managers have to nitpick and try to rationalize BE ratings for 10% of their people, whether they believe it’s warranted or not. It’s an awful way to evaluate performance because it’s not honest. But managers have no choice, unfortunately.
I endured the BE bs , got laid off, enjoyed my 52 weeks with regular and covid unemployment. Work for a much better company now, fully remote. It couldn’t have worked out any better
Yes, this is true. Both your rating and your pay increase (if any) were determined in the last quarter of the prior year. The bonus pool was planned as well.
It’s kind of funny in a sad way… you actually have a finalized performance rating for the year well before you know your goals… in most years 6 to 9 months prior to receiving your goals. Apparently Nostradamus decrees them.
Worked at BNYM for 12 years (Pittsburgh) before being laid off in Spring, 2021. Learned that my dept head actually decided at the beginning of each year who would receive what ratings and what raise percentage. The end of year reviews were written to confirm to the boss’ opinion of each person.
The dept was whittled down from 50 to less than 10 over the last 6-7 years. Layoffs were largely age-based. Oldest were laid off first and continuing down until management age is late thirties or less and rest of employees are below thirty.
When I confronted my boss about his apparent ageism, he argued that older people resist learning new tasks. He added that HR and Legal green lighted all his layoffs.
HR has no credible way of measuring performance so PMPs are virtually random. I’ve never once even received my goals before October and it’s goofy cascaded stuff. Truthfully HR should be outsourced and displaced.
My last boss did not know how to lead. Used PMP to give me BE garbage. Was gone right before pandemic. He's still there, and I am in a better job.
Year over year BE is usually an automatic layoff
The same thing happened to me, after the "below expectations" review, I stopped talking to my manager, and kept my interaction with him to the minimum. After 4 months, he then layoff me from BNY.