The MIP bonus pays March 9th for technical engineers and highly valued employees and middle management. Monday March 12th the official Honeywell project for me is finally here and will be aggressively starting an active search. I know this helps Dairyass so he doesn't have to pay severance but I can't take any more of this place Our announced budget cut was 10% across everything. OEF/RIF, contractors, suppliers etc. And in my own small group the new clueless manager did the budget so poorly that she didn't account for all spending and we will have to cut heads to make the numbers. Incompetence at its finest. Best of luck to those of you who stay. I hope your leaders did better budgets
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I know a number of my younger (under 50) coworkers are turning on their open to being approached on LinkedIn I think if you live in a major population area you should be able to find something regardless of your field. For now hiring managers at other companies think HON is a good place to learn, just like GE used to be. Just don't wait too long before HON reputation is in the trash like GE's
how are bonuses calculated?
Totally agree with -3jgs. I was band 3, 16 years, happy and consistently block 1-2. Applied for and got promotion to a band 4 job- excited for the opportunity to grow and do something a little different. 6 months later I was put on PIP for made-up reasons (I had proof of that, but HR said my proof didn’t matter- the only thing that mattered was my manager making PIP quota). That was 2 years ago. I’m still here but things have never been the same.
I’ve had a good career and been a loyal hardworking employee. S---s to be treated so badly.
Don’t wish to be band 4! I wish I could go back to band 3. But instead I’m going to be without a job- my department is RIFing 2/3 of us and it’s pretty well know if you are band 4 you will be gone before March 1.
Band 4 these days I believe have bigger target on back. Hon doesn’t like paying people and always looking to cut MIP. Many band 4 get pushed back to band 3 or band 4 jobs trying to be eliminated. A band 3 move to band 4, you now are rated against band 4 who typically have been in job a while. So unless you are connected, you are on the bottom of comparisons. Just advice for any band 3 applying for band 4, might not be worth it.
For a 5 the pay raise range was 1.75% to 2.75% and MIP for band 4s was 90 to 110% for a 5 rating
If you got on the high end of that range they value you and want you to stay in general. If you got less, they would be fine if you quit as it will save them Severance
New MIP rate is 5% not 10-15%. Effective this year. Another reduction in benefits. Basically means for most Band 4s you'll be making alot less next year even with the normal mediocre raise. More Honeywell respect for its so-called valued employees. Basis of reduction was to bring MIP in line with other companies management bonus systems. What a bunch of bull. I personally spoke to two non Honeywell HR types who told me bonus levels are usually in the 10-15% range.
3czs - depends on band and individual hiring agreement. Most band 4s get 10% to 15% of salary as MIP. during your review you are told what percent of that 10% you will get based on performance and how your SBG, SBU did.
so if you get 95% you will get 95% of the 10% you are supposed to get.
I am just curios how is bonous calculated? Is it based on percentage of a salary? I am a band 3
I am a band 4 engineer in the department that was told a few weeks ago that 2/3 of us were being laid off due to outsourcing. My upper level management has insinuated that we will be laid off before Mar 1 so they won’t have to pay our bonus.
@3rjc. I hope what happened to you 2 years ago happens to us now. It will make the end of my stellar 32 year career sting a little less. And thank you for sharing with us!
I got laid off in January 2 years ago. I had 21 weeks severance. I got a MIP check in March that year.
If you are RIF'd, you should still get benefits and I believe still get MIP check if severance takes you past pay date.
The bonus only pays if you are still employed in March. If you are band 4 or above, and in a department that’s been RIF warned, bloodbath will be this week- Monday, Tuesday, Wednesday.
They will lay off those who should be getting a bonus. Because Honeywell s---s and can never do the right thing. Only the greed thing.
Wait until you see the deposit in your bank and then drop the notice. I did nearly a year ago and life post-Honeywell is great!
The budget was cut for everyone and not just your manager. It was a present from leadership. You should be already looking for a job and not waiting until March as it can take months to find a new one.