what are the dates for the manager to decide the hike of employees, as we have an increment cycle in August.
and after 1:1 discussion can the manager change the hike percentage or promotion ?
The focal budget has been given to each manager, so will the manager decide how much hike he will give to each employee or is it a mutual discussion with the manager and director?
HR (with some glee) said on one of these BS calls that there doesn’t need to be any appreciable increase since the market is in their favour. They know they were behind the curve last year and made lots of noise about how they would work to fix it. Now, they realize that they don’t have to, so you can soak up the 15-20% cost of living increase over the last 18-24 months.
Late August FLMs will get their budget to assign in Workday. This focal is expected to be less than the previous year as the job market in tech favors the employer now.
We will then assign the merit and RSUs to each employee and submit it upstream for review by upper management and finance. Typically, it gets approved as-is. Day 1, Q2 would be the effective start date. Personally, as a FLM - I hate that they wait so long but I feel like they do it just to get a few more months out of an employee.
Managers have already had to input into the system who will be getting a small, medium or large raise, and who will get small medium or large RSU, and who we will be advocating for a promotion for as of mid June. It was part of the performance reviews managers did.
Next phase in late August is to input amounts based on the budgets per manager given. Managers have been told that if what is given to an employee doesn’t match the ballparks then it will raise a red flag for deeper review.
All I know is that Cisco’s merit increases kept me below inflation despite creating a system that saved the company $5M/yr. Then my VP (several layers above me) went on to tout it as his own accomplishment. Dude even puts it on his resume.
Cisco is a dumpster fire of snakes and mo--ns. My advice to everyone is to get out as soon as you can.
It is very common that VP with larger group will withhold some % to wiggle. How to wiggle? No idea but only all kinds of conspiracy theories...
It is going to be late Aug to early Sept, and if you are still in CISCO. Watch the next check-in and the date should come out. It is not going to be Aug. Base on the history, the effective date for annual promotion cycle is going be somewhere in the middle of FY24 Q1.
The focal budget has been given to each manager, so will the manager decide how much hike he will give to each employee or is it a mutual discussion with the manager and director?
Each BU gets a bucket of money, and the BU SVP will have to divide it among their VPs, who have to decide how to split it between their Sr Managers (if any), who then split it between Managers, who then split it between employees.
Sometimes managers or sr managers will go up the chain for a bigger piece of the pie if they feel that they have an employee who deserves more than their allotted bucket allows, but that's at the cost of someone else's bucket within the org, so there's a lot of mutual discussions up and down the management chain.
and after 1:1 discussion can the manager change the hike percentage or promotion ?
Usually, by the time the manager has the 1:1 discussion about your IPF, it's cut in stone and you're being notified of what the changes are and when they will go into effect, or so that's been my experience.
I hope we get some new managers in our group. We don't have enough managers. Maybe some senior managers too.
I believe it’s end of June?