I'm wondering how it works when you get rated BE. Does your manager automatically put you on a formal Performance Improvement Plan with human resources' involvement? Or do they just give you the BE? Can anyone expound on the intracacies of how the BE works? Like, how many BE ratings are given prior to being let go? And are the BE ratings objective and factual? Or exaggerations of some miniscule infraction? I'm trying to get a sense of whether the bank is handling the rating process according to consistent procedures or not.
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Not true. I know of several people for whom a B.E. was a badly needed wake up call and then went on to do well and thrive.
Now permanent slackers are a whole different deal. They actually want to be layed off.
No. Arbitrary
what is the process for firing if you met expectations at the mid-year review?
I got a BE last July and for end of year but if you read my review, it sounded like a EE! Not one thing bad, I was told it just had to go to someone and next time around it would go to someone else. Well I was laidoff in Jan, I received SUB package and unemployment. I also recieved my bonus at the end of Feb which was only $500 less than the prior year. Be happy of you get laid off and a SUB package. Everyone I know that was laidoff has come out ahead in the long run with better jobs. Good luck!
Scharf is a disgraceful human being. It’s ok to ruin people’s live to meet some stupid arbitrary quota. Fck him.
I was forced to give 2 employee's a BE in 2018. I consulted with my manager on a PIP since he was a long-term BNY employee and he told me to consult with HR. HR told me not to bother with a formal PIP, apparently it's too much paperwork. They suggested just setting up recurring meetings, document everything (good and bad) and track goals. That said, even when these employee's reached their goals and the feedback from other co-workers was positive, they were let go. Not surprisingly, I was not notified they were being let go, nobody even told me until after the fact.
As a manager within Eagle, I have been informed any employees given a BE at midyear will be terminated by fall so extra emphasis was placed on picking the right people. There is no point is placing them in a PIP and we have specifically been told to not bother as to have corporate money.
BE doesn't require a PIP plan nor does it prevent you from posting out, getting merit increases, etc. Corrective Action prevents posting out, merits, etc. but could include a PIP plan if related to performance (as opposed to conduct). I would read up on the HR policies online to get the facts.
Forced rankings have been going on since 2001 but haven’t heard of the Performance Improvement Plan process being used seriously since 2007. Don’t see that changing now with the sheer volume of displacements and staff loss loss.
Besides BE no longer seems to have a relationship between staying and being laid off... that is more salary and age. BE itself has begun to morph into a way to lock people into position by preventing posting to internal jobs. It’s almost like franchise tagging people to keep them in place while next staff action decisions are being planned.
the fake BE ratings are probably I’d be ver surprises it would be a surprise
There is a quota. Your whole team could be great, but someone must get a BE. It is factual, to the extent that they compare you with the rest of your team and chose one that is different in a way that can be improved. If not you, then someone else on your team. As far as lay off, other ratings get laid off too, and some BEs stay, so there is no guarantee about THAT either way. It might not be so bad if they gave it a different label, and if it did not affect your compensation.
Try not to feel too bad about it, and don’t panic. If that isn’t enough, look for advice about tolerating the environment or moving on. Good luck.
Getting a be doesn’t necessarily mean your next. I’ve seen people with be survive through several staff actions.
Also during a staff action management doesn’t need to justify your termination. Having a be certainly makes it easier for them. But non be employees can just as easily be included.
From my experience, managers don’t bother with performance plans. Takes too much effort and doesn’t make a difference.
I only know of 1 instance where the person was put on a plan but the managers got tired of having to meet and they really weren’t hoping for anything to change.
Same end result. Termination during a staff action.
When you are rated BE, is HR really read note from Manager is why BE rating is given?
As a front line manager who was fortunate enough to have left BNY (Bad News Yearly) I can tell you it from personal experience that it is entirely subjective! If Senior Management wants you gone they will find a way to get around all legal aspects. We were subject to forced rankings of our staff and when you have fewer than 10 team members, after the first round of cutting, you are now faced with just flushing good talent because it's their turn in the barrel. My direct manager worked out of NYC/NJ and tried to force me to BE rank two of my 10 staff before I left. Needless to say their mid-year went in as a "meets". You want them fired, you do the dirty work!! I had to work with those guys daily, I know what c-ap they deal with, I'm not going to fire someone on trumped up/made up charges!
A PIP relates to poor performance and can happen at anytime. It is the first step in a performance related firing and if you don't improve, your fired, with no sub pay. Some companies may include in their layoff count people in a PIP and if you are laid off as part of that process you probably get subpay, but typically no performance based bonus, as your performance did not warrant it. You may also not be able to apply for any open positions.
For layoffs you do not need to be on a PIP and most banks rank employees, kind of how they determine bonus and merit pay.
This is how it should work, but BNY seems to do things differently or managers/hr is doing an awful job explaining things.
Received BE and manager said it came from above and said nothing could be done
No merit increase bonus cut 75%
Mid term coming up let’s see what happens
I will be open minded
I know a BE puts a target on my back if layoffs come hoping for a ME
psm - if what you say is true, then who IS getting sub-pay and unemployment? Is this a recent development?
Interesting. I received BE for my year end (despite having achieved expectations at mid year and going on short term disability after a work induced mental breakdown and gone part of the third quarter and entire fourth quarter) and I’m still here and haven’t been put on a PIP. I anticipate getting another BE though and I think my boss is trying to get me to quit. Things are just as bad as when I had my first mental breakdown. Wouldn’t be surprise if I’m gone.
rqq - That is how it's supposed to work. In reality, staff are given BE and being laid off aka staff actioned the same year. If you are not laid off, you'll be given time to improve, but in reality, management has documentation that can be used to terminate you and are simply awaiting the required timeframe, usually 60-90 days, to fire you without compensation. No sub pay and no unemployment. Another cost savings measure brought to you by our CEO.
Usually you get a year to improve, then the second year hr gets involved and then you are on final warning where you can’t post internally or get any bonuses/raises and they can lay you off any time after that.
Layoffs are now called staff action events. I received BE and survived the last staff action. But I have heard that only BE rated people will be let go. And I have also heard these waves will be every few months some will be in August and many more in November.
sorry bud. your days are numbered once they gave you a BE rating. it is their excuse for them to let you go once layoffs are set.