Buckle up it is PIP or go season at BNY Mellon. Coming to an office near you starting now through June.
Apparently we don't RIF people anymore, we mark them below to meet a bell curve and then deprive them of a decent severance.
Too bad our Robin is not "Robin Hood" but more the Sheriff of Nottingham.
If you've never been a below expectations don't fall for the PIP; get a lawyer
What changed to make you off track?
It is PIP & GO- They are doing them now actually... And currently any open positions are being forced to hire in India. The GO is serious too- They give you no info until you say yes or no on the spot... Current fight for me right now- to be able to make an educated choice. And I have over 20 years & until literally right now have never been below or off track - I just came from their High Performance Program sooo :(
Sorry, but that’s not very good advice at all. Employment is “at will”. For University of Phoenix graduates, this means that you can quit the bank at any time and they can get rid of you any time. The very fact that your manager rated you poorly is enough.
However, if there is a large wave of terminations for people with a history of good reviews then a class action suit would be appropriate.
There is a new program PIP or GO. if an employee is about to be put on a PIP, they can be offered the GO option and immediately take 12 weeks SUB pay. This coincides with the average PIP time. If an employee goes through with the PIP and do not correct their actions, they are laid off without SUB pay and are not eligible for rehire. So that’s what someone meant when they said “make sure they offer the GO”. However, it appears this is not always being used as it was intended (to address actual low performers). If you are offered this choice and have never been informed of any performance issues, fight for a regular layoff and/or get a lawyer.
@pn
No they aren’t just firing people. If an employee works on the improvement plan and communicates openly and honestly with the manager they won’t be fired.
It’s just PIP, personnel improvement plan.
It’s not “PIP and go” it’s just PIP. And there is no “just make sure they offer the go,”
What does that even mean?
Does the "informal" PIP usually run for at least 30 days? Do managers usually cut it short and fire you after the acknowledgement step?
No. It is called PIP.
@5gpa, you're clueless if you think GF was just buying new hardware. Not to mention that upgrading to secure, standardized hardware WAS a crucial part of eliminating HUGE risks.
More than likely it’s for the same reason that we never get year end goals until October or even later. Broken down HR processes.
“Not to mention AI solutions coming down the pikeway.”
Roman Regelman is now 7 years into his 4 year Digital project with zero deliverables except on Linked In.. Pretty sure that A.I. solutions are a minimum of a decade away.
A PIP is a Performance Improvement Plan.
We also used the money to give a raise to about about 1/3 of our employees to bring them up to the minimum pay of their grades, which was a good thing. Incredibly sad to know that employees could even be paid below the minimum of their grade.
Who remembers this quote from our CEO at the time…. “We’re going to invest this money to allow employees to recommit to their jobs and to do them better” and then we blew a ton of money to buy new computer hardware.
@5bzk, quit lying. There is NOTHING in the tax bill requiring us to keeping employees in order to keep OUR money. Plus, that was 2 years before your uncle todd was CEO. Not to mention that 90% of our applications were in GF by that time which was an essential to mitigate the huge risks associated with decades of infrastructure neglect.
A PIP is Personnel Improvement Plan. Managers can place an underperforming employee on a PIP. The manager will then meet regularly with the employee to go over goals and results. Unfortunately politics are often in play and some managers do use it against employees for whom they personally do not like.
Yes. In that tax law it came with strings to not layoff. Read the Bill.
@4jie Simply because slackers don’t follow the HR calendar when they begin to mail it in. No need to wait as that only encourages them and other productive employees begin to wonder why they are working their tails off. It’s like a cancer.
If mid year reviews are July how/why would they be doing this PIP now when they can make people " below meets " in review talks and chase people out then?
@4xax, you mean when President Trump cut taxes so we could keep more of OUR money? That's NOT "Trump money which we accepted with a promise of no layoffs".
Please try to apply a modicum of basic reading comprehension. Nobody said that it was COVID money. This was in Donald Trumps budget to help the companies and workers in the U.S in the COVID era. Here at the Bank we wasted it on greenfield, but we did cease layoffs as per the agreement.
Get engaged and run your mind not your mouth.
Fake news, @3vlv. All covid money is listed online and nowhere is BNY mentioned. Put up a link to it or shut up.
Under Todd nonperforming employees were given a Sub package. Part of that was due to the Trump money which we accepted with a promise of no layoffs and part of it was Todd’s kindness. Either way, anybody displaced in Todd’s 2 years definitely had to work very hard at slacking off to get displaced.
I know people who have been through the PIP process. One was terminated and the other worked his tail off to correct his issues and survived as an employee.
Todd was kind enough to give employees who were being displaced for cause (failing to perform) all through his 2 years of leadership.
Won’t ever see that again.
For those that are not familiar, it is called “PIP and go” and not “PIP or go” for a reason. And this is truly the season.
BK doesn't offer severance to us common folk.
Please someone explain, what is PIP?
Seriously? If you are let go for cause, you cannot claim unemployment. Do people really not understand how this stuff works??
is it better to sign a PiP, and claim unemployment if you are indeed let go, or refuse to sign? Would this change unemployment eligibility? Does BNY give severance if you’re let go through a PiP?
The best advice is simply to deal with and roll with it. Believe me, this not easy and you will very likely wind up being displaced. This sounds to be very frightening and for decades it was. But today we do still have a SUB plan. It’s not fair, not even close to it, but if you push through you WILL come out better in the end.
It’s no use trying to document your work. If you’re crossways with management, it’s the end of the road.
Start looking. And make sure you get paid on the way out.
Sorry this is happening to you.
How do you avoid this when you see people trying to set you up for it? As a good working and also being ahead on my work I can tell this is something trying to be pushed on me what can I do to prevent it? I've been documenting my work but facts don't seem to matter. I feel I'm being targeted to be the "below" for the group to at minimum miss out on next bonus or raise and/or be part of next round layoff.
To be honest BNYM is pretty good to their employees. If you want to get ahead at the company either be born into the modern day aristocracy or do a ton of DEI work, engage the leaders of DEI initiatives and then do your job to the best of your ability and work overtime and try to think of new ideas.
I think in the past hard work and creative thinking was most important but the company has made it clear that DEI is of primary concern and that if you are well connected you get perks. So play the game and suck it up and get paid a very respectable salary with benefits or don't. To be honest all corporations are like this now so you don't have much of a choice anyway.
Not to mention AI solutions coming down the pikeway.
Stop with the delusional reasons for any of their processes or actions. No direction, no vision, no leadership equals unhappy employees. So happy to be out of this toxic environment. All the best to you survivors that believe change is ahead.
I’ve seen people go through the PIP process, take it seriously and wind up being productive employees. It’s a really good process if manager and employee are both honest and the employee becomes engaged. I’ve also seen it misused as a we-pon.
If you wind up on a PIP there usually is a pretty good reason for it and it’s unlikely that you’re going to correct it and remain employed. While you work through the PIP be sure to gather HR phone numbers, etc as you won’t have access to much after displacement. Some people self assess and bring a new work ethic to the next job.
Breaking news Rip van Winkle, we’ve had forced rankings and have based layoffs on them since 1999.
Three things:
PIP is just another HR paper trail to back up layoffs. It is certainly in no way intended to help the employees.
Paycheck improvement program? Sign me up!