This is unrelated to layoffs - I am just curious how VZ does performance reviews, what is the process, frequency, impact on financial compensation.
Disclaimer: I work for a much smaller competitor
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you need to a lot of rear end if you want anything higher than an ACHIEVING rating
Your rating, compensation, and sti are determined well before the review is written. As it goes up the chain your rating can be lowered and sti reduced from you manager’s submission as the org has to stay within quota, and believe me your execs know who they want to take care of, and if you knew you’d scratch your head wondering why. Again, all happens well befor the review is written. Bottom line, whatever performance management model vz adopted initially, they found a way to destroy it and make it useles. Kind of like all their acquisitions.
Reviews have been a joke for me. 5 managers over the last 8 years, only one of them did a verbal with me. Freaking joke... "go ahead and sign / release the doc and I'll reach out to you when I get a chance."
Performance reviews are one of the reasons they keep a manager...So the ones above don't have to do the worker bee's that they don't know jack about anyway. If you get a 'Developing' rating and have been with the company for any length of time...Pack your bags, update your resume', start a file folder and keep all conversations with your boss about your work performance logged in the file..(it won't do any good, but fun to look back on) and get ready to hit the skids. WHAT A JOKE!
Hahahaha....... hahhahaha....... rolling on floor... hahahhaahahaa.... hahahhhahaaa.....
just show up, you'll get what you get.
Serious answer from wireless perspective :
Mid year reviews are done around late summer, although these don’t seem to mean much.
PA&D for the whole year is delivered in January/February. Overall performance ratings are Leading, Performing, and Developing. Developing means you are not achieving targets or are on a PIP, you do not get a raise, and (I think) get decelerated on your Short Term Inventive (5% of your salary adjusted by company performance and personal performance paid on last check in February). Performing means you’re hitting most of your goals but not over achieving. You will receive a small raise (for ex 2%), and standard STI payout. Leading means you’re overachieving your targets and/or contributing to the business outside of standard expectations (your “above and beyond” folks). You’ll receive a higher than standard raise (ex 4%) and accelerated STI payout.
Your manager is responsible for “writing” your review, and delivering it along with compensation details. Much of it is based on metrics, but some if it is subjective, based on your manager’s observations and opinions of your work.
Your review barely impacts your pay. The share amount of things in my review as far as additional duties and project work you would think would allow me to be paid more than my coworkers doing the minimum amount of work. Unfortunately not.
Completely subjective. At least in my case.
You can have all manner of documentation proving or disproving any certain scenario, it will not matter. Reviews are a capital labor saving device.
Mid and annual reviews are based on how many people you drink and sleep with in q1q2 q3 and q4. If exceed quota then you multiple and bonus a promotion.