How true is it that the bank is forced ranking employees? I see this as unhealthy; it leads to backstabbing and people not being productive out of fear. I also think it will lead to sabotage from other members of your team. Is the bank really that bad for doing this type of ranking? It looks like only people who get the actual job done and not the ones who are really liked are being let go.i feel this is battle royal mentality, every man by themselves throwing people under the bus to survive. not a healthy place to work
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This has been going on for years, yes
no hyperbole... this has to one of the most toxic firms in industry right now. Pure unadulterated layoff culture on speed
@gn BNY gives free coffee to employees and free summertime snacks.
Its true. We have to keep the number of exceeds below a certain % which is bs
@c7 But BNY does have a culture! I heard RV say so during an interview on CNBC last year! The culture driven by the free coffee!
Coming from a company that did forced rankings and not enjoying it much there, either, I specifically asked the hiring manager at my interview if forced ranking on a bell shaped curve was implemented in employee reviews and he said, "no, not that I'm aware of." Liar.
I came from big 4 and this is somehow more toxic. Avoid at all costs
@c7 You are exactly right. Any mistake is used against you. You'll be called out on that mistake in an email with 100 people on it, chastised and made to look like a fool. Then your manager will be called
about that same mistake. That mistake is brought up in your review and used against you when rating you. You're expected to learn new services, yet never, ever can make any type of error, no matter how small or fixable it may be. If you didn't make a mistake but a client says you did, management NEVER has your back. A client can blame you for someone else's mistake and your manager will NOT have your back. It's the most toxic environment I ever encountered.
The bank is really that bad.
Unhealthy is putting it mildly. This place is dangerous to anyone who believes in hard work, personal sacrifices, believes in teamwork and learning by mistakes and experimentation. If you value any of these, then you are not a fit for this place. Here, any mistakes are used to tear down a person. Not to build and learn from. Here team work means pitting people against one another to pound out deadlines. Here you are told what to do and not showing initiative or spirit in how to do it yourself.
BNY has no culture. Only chastening, micro managing and corrective action to reduce headcount.
Forced ranking is not new, but ramped up heavily under Robin Vince. It's normally a max of 10% eligible for exceeds expectations. Normally 15-20% need to be below expectations, with the remainder getting meets expectations. This does hurt well performing teams and disincentivizes managers from making their entire team great. It's a toxic culture that gets worse every year. But the stock price!! Short sighted bs.
In the department I work in, we've noticed persons within the protected class not part of the PIP-and-GO program. Even if these individuals have poor job performance and poor workplace attendance.
I doubt they are mandating 25% tracking exceeds. Likely more like 10% max.
True, at mid year 25% get tracking to exceed, 50% on track, 25% tracking below.