Great town hall.....bonus time!
9 replies (most recent on top)
21 days to go, this one is in the books folks!!!
Want a laugh? If you're eligible for the STIP, look at the disclosure on the plan review page on ESS; "The plan may be amended, modified or terminated by the Company for any reason or no reason, at any time." I'd say something pithy but the reality is even if we 'own the numbers' they can just decide "nope, don't care, none for you." That's disheartening. Yes, I realize a bonus is NOT a right, but if you want to attract and maintain talent, this isn't the way you go about it.
100% of their salary while they layoff, fire people than offer part time jobs if they'll come back, keep cutting away at current benefits, try every which way to not pay severance, treat employees like (fill in the blanks yourself) they shouldn't wonder why they are the most detested leadership group Follett has ever had including all those employees (you know who are) that assisted. Go to India for all your (cough cough) business trips may you find your karma.
Senior management qualify for a bonus equal to their salary. Sr. VP can get 75% of salary, marketing/sales up to 60% and it drops big time from there. Many of those listed above got 100% of their bonus last year.
While those who work in the trenches designed by horrible leadership lose their jobs bonuses are being handed to the very people who are costing them their livelihood. Those ridiculous bonuses could save jobs, families and college educations. When money is the bottom line PEOPLE are not. I know it will never matter to people like Mary Lee but she should be hugely ashamed of herself. When will we as a culture stop buying into the excuse that "that is the way business works"? Well, it doesn't have to.
there were bonuses last year, just no STI. Upper management is not on that plan.
Whahoo! There is a better life after Follett. With better pay and... bonus!!
Nobody got a bonus last year. What makes this year different?
Right, Mary Lee. I'm sure that you will be getting a big fat bonus and lots of stock with the increased value you keep bragging about. I, on the other hand, no longer get profit sharing and my bonus (if it actually comes through) will probably be only 50%. Go ahead and celebrate all the benefits you took away from the rest of us.