Achieved all my goals in 2020 and contributed to a major project that went live successfully. Yet got a BE rating.
And surprisingly I have not (yet) been let go. What does that mean?
Am I shortlisted for a future layoff? Is this a ploy to make me quit, so they don't have to give severance?
20 replies (most recent on top)
Performance review process is a joke in BNY - what can you expect from a management (most are, very few honest ones left in management who will be shown the door soon) who are so poor in knowledge and experience that they cannot even do a review of a person's work properly. Shame!
It means that you are still valuable for exploiting your skills until you longer fit their objective, then you will get let go.
So sad, this company at one time was a great place to work. As a former manager, we were never permitted to rate employees what they actually earned. We were never able to compensate employees for a job well done, this demotivated good employees to the point they left. I was shocked at hearing the names of the last group that was just left go, good working people who devoted many good years to the company. Advice to the good people that are left, get out when you can.
Second that. Got the BE my first partial year with the company. Manager explanation was they had to give one and force rank etc... It was easier to give to me as less impact on bonus and other with partial year. BS but haven't gotten it since.
Managers are forced to have a certain % of staff assigned the below expectations rating. If you get this for both the mid-year and annual review, you'll be on the list to be let go.
However, Managers try to play the game of moving the rating around to different people at each review cycle to make the %, without having to lay someone off. They can't ever admit to the game though, so you can't get the truth. That rating though will prevent you from getting promoted or moving to another group.
BE means they'd rather fire you with corrective action instead of giving you a package.
The world has changed. They aren't doing anything any other company isn't doing to survive. They need people with different skills to compete in the digital age. The financial system is in for a huge disruption. They can't afford to have so many employees. They need to modernize. And so do we. It's just business. I am sorry you just got a link to a site that doesn't work. But these are unprecedented times. And the bank seems to be unaware of how difficult it is to navigate their website. Best of luck. These things have a way of working out for the best with hindsight.
That’s means you’ll be looked at in the next round. if you met goals and had good performance and still got BE, it’s because upper mgmt pushed down a % that had to get that and your mgr sold you out. I know cause I’m part of mgmt and heard that bs sh– from my boss in what stunt they were pulling
Here is what BE means for the newbie
BE is like answering 'kinda' to the question about if someone is good in bed
BE - is that 'Better Evolve'?
Been Emptied?
Boring Entirely?
Boozing Everyday?
Boy Enchanting?
I'm new here.
One thing clear to me - your company is brutalistic - societally and individually.
Can you still be let go if you got a meets expectations at YE reviews?
It means to start looking for a new position elsewhere. You don’t want to be there when the music stops and you don’t have a chair to sit in. Unless of course you’re holding out for severance of 2 weeks per year you are there plus unemployment, the government supplement though will not last forever.
The big push is for minorities and women... if you're a long time Mellon'er in Pittsburgh, male, white, and in a mid-level position... youre not in a good spot.
"Best to get out of that place it is no longer the proud Dreyfus/Mellon/BoNY anymore but a cesspool of ex-Goldman thugs and their peers."
^^^ 100% accurate.
All of the below- especially the rotating the BE.
Plus (sorry to say) could mean you are getting little to no bonus and they hope you quit.
I received a met with great comments and we separated, but over 60. The BE’s were not let go.
If you have a new manager and get a BE you are on the next list. If an existing manager and you have a good working relationship he/she is just rotating the BE target. Best to get out of that place it is no longer the proud Dreyfus/Mellon/BoNY anymore but a cesspool of ex-Goldman thugs and their peers.
nsf,
Not taking that bad news! Would rather work somewhere else, where my skills and efforts are appreciated. The part that irks me is that, they can just say "sorry your position is eliminated". But to protect themselves they humiliate people, who have busted their hump over many years for the company, by giving them a BE!
There usually is a February wave. I am sorry to be the bearer of bad news.
This is what happens when you have a group like HR with no math skills trying to apply statistics to people. They want everyone to be average, but some people have to perform better and some worse, but they are human beings and not just numbers. The outcome will always be stupidity.
It’s hard to know. I got one a few years ago — along with the awkward “you actually did a good job” language. They rotate the hot potato. I’ve not had it since. They exchange ‘perceived value’ in place of ‘actual performance’. It’s completely unethical, but their ethics are demonstrably flexible when money is on the table.