McKinsey putting 3000 staffers on pip

[Anonymous]

I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

[Anonymous]

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

Are Engagement Managers the ones who show up on every call even though it's the other three people on the call doing the work, but they bill double?

[Anonymous]

Oh deer

[Anonymous]

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

Engagement manager sounds like the most BS job ever.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

Engagement manager sounds like the most BS job ever.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

Engagement manager sounds like the most BS job ever.

a pyramid scheme

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Idk you likely get some to leave and the others put in the best month’s worth of their lives.

I personally only put people on pips when I want them to improve. Mixed results. The good ones improve and the bad ones can’t improve and they leave/fired. I’m always shocked that a few aren’t willing to actually do their work and would rather be fired, but it happens.

Your strategy only works if there is enough work to go around. The mass pip is because work has dried up. It’s cruel to put someone on a pip and then not actually give them the work they need to succeed

I’m not an HR attorney but honestly, putting someone on a pip and firing them for reasons outside of their control seems really illegal?

This is really common now. It's to avoid paying severance and unemployment. It should be illegal but you'd have to sue and prove it.

Mck still pays severance after the pip. That is not the reason at all. Reason is to leave time for people to leave and everyone can stay friends. It happens more often than you think. People appreciate the warning. Become clients.

McKinsey pays HALF the severance after PIP. PIP also serves as reason to void certain deferred comp.

The way even the no name firms handle this is to tell people you have 6 months to look. Then they lay them off with severance if they are unfortunate enough to not have landed a job. McKinsey employees are being laid off due to slow down in business or goal of increasing margins by cutting expense. These people are the cream of the crop and have been with McKinsey for years, they did not just suddenly become poor performers. It's a vile practice to subject people to such psychological stress over things they have no control of.

McKinsey does not have the cream of the crop.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

Engagement manager sounds like the most BS job ever.

This is likely because you are thinking of "engagement" in the sense it is used for employee engagement surveys and workforce morale.
Engagement in this context means the actual contracted work for the client. It is "an engagement"- the work they are "engaged" to do.

Not defending consultants in general, but this isn't one of the things that is BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Idk you likely get some to leave and the others put in the best month’s worth of their lives.

I personally only put people on pips when I want them to improve. Mixed results. The good ones improve and the bad ones can’t improve and they leave/fired. I’m always shocked that a few aren’t willing to actually do their work and would rather be fired, but it happens.

Your strategy only works if there is enough work to go around. The mass pip is because work has dried up. It’s cruel to put someone on a pip and then not actually give them the work they need to succeed

I’m not an HR attorney but honestly, putting someone on a pip and firing them for reasons outside of their control seems really illegal?

This is really common now. It's to avoid paying severance and unemployment. It should be illegal but you'd have to sue and prove it.

Mck still pays severance after the pip. That is not the reason at all. Reason is to leave time for people to leave and everyone can stay friends. It happens more often than you think. People appreciate the warning. Become clients.

McKinsey pays HALF the severance after PIP. PIP also serves as reason to void certain deferred comp.

The way even the no name firms handle this is to tell people you have 6 months to look. Then they lay them off with severance if they are unfortunate enough to not have landed a job. McKinsey employees are being laid off due to slow down in business or goal of increasing margins by cutting expense. These people are the cream of the crop and have been with McKinsey for years, they did not just suddenly become poor performers. It's a vile practice to subject people to such psychological stress over things they have no control of.

McKinsey does not have the cream of the crop.

My close friend's DD was hired from a regional state school in south, she didn't get into any T20 schools or state flagship or mage national merit so clearly not cream of the crop but decent student and debater. Her father is in the same field so could be a favor but still there since 5 years so clearly performing okay. I met her father last week and he was worried about her job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Idk you likely get some to leave and the others put in the best month’s worth of their lives.

I personally only put people on pips when I want them to improve. Mixed results. The good ones improve and the bad ones can’t improve and they leave/fired. I’m always shocked that a few aren’t willing to actually do their work and would rather be fired, but it happens.

Your strategy only works if there is enough work to go around. The mass pip is because work has dried up. It’s cruel to put someone on a pip and then not actually give them the work they need to succeed

I’m not an HR attorney but honestly, putting someone on a pip and firing them for reasons outside of their control seems really illegal?

This is really common now. It's to avoid paying severance and unemployment. It should be illegal but you'd have to sue and prove it.

Mck still pays severance after the pip. That is not the reason at all. Reason is to leave time for people to leave and everyone can stay friends. It happens more often than you think. People appreciate the warning. Become clients.

McKinsey pays HALF the severance after PIP. PIP also serves as reason to void certain deferred comp.

The way even the no name firms handle this is to tell people you have 6 months to look. Then they lay them off with severance if they are unfortunate enough to not have landed a job. McKinsey employees are being laid off due to slow down in business or goal of increasing margins by cutting expense. These people are the cream of the crop and have been with McKinsey for years, they did not just suddenly become poor performers. It's a vile practice to subject people to such psychological stress over things they have no control of.

McKinsey does not have the cream of the crop.

My close friend's DD was hired from a regional state school in south, she didn't get into any T20 schools or state flagship or mage national merit so clearly not cream of the crop but decent student and debater. Her father is in the same field so could be a favor but still there since 5 years so clearly performing okay. I met her father last week and he was worried about her job.

So just to be clear, it is written in stone whether somebody is "the cream of the crop" by the middle of their senior year of high school? Nothing can change in the four years of college or beyond that to make somebody a top candidate for a job?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Idk you likely get some to leave and the others put in the best month’s worth of their lives.

I personally only put people on pips when I want them to improve. Mixed results. The good ones improve and the bad ones can’t improve and they leave/fired. I’m always shocked that a few aren’t willing to actually do their work and would rather be fired, but it happens.

Your strategy only works if there is enough work to go around. The mass pip is because work has dried up. It’s cruel to put someone on a pip and then not actually give them the work they need to succeed

I’m not an HR attorney but honestly, putting someone on a pip and firing them for reasons outside of their control seems really illegal?

This is really common now. It's to avoid paying severance and unemployment. It should be illegal but you'd have to sue and prove it.

Mck still pays severance after the pip. That is not the reason at all. Reason is to leave time for people to leave and everyone can stay friends. It happens more often than you think. People appreciate the warning. Become clients.

McKinsey pays HALF the severance after PIP. PIP also serves as reason to void certain deferred comp.

The way even the no name firms handle this is to tell people you have 6 months to look. Then they lay them off with severance if they are unfortunate enough to not have landed a job. McKinsey employees are being laid off due to slow down in business or goal of increasing margins by cutting expense. These people are the cream of the crop and have been with McKinsey for years, they did not just suddenly become poor performers. It's a vile practice to subject people to such psychological stress over things they have no control of.

McKinsey does not have the cream of the crop.

My close friend's DD was hired from a regional state school in south, she didn't get into any T20 schools or state flagship or mage national merit so clearly not cream of the crop but decent student and debater. Her father is in the same field so could be a favor but still there since 5 years so clearly performing okay. I met her father last week and he was worried about her job.

So just to be clear, it is written in stone whether somebody is "the cream of the crop" by the middle of their senior year of high school? Nothing can change in the four years of college or beyond that to make somebody a top candidate for a job?

lol, +1

[Anonymous]

Anonymous wrote:I know three people who made partner at McK in the last 18 months. That's how you know you're keeping your job.

Basically anyone below partner can get the ax right now. Especially Engagement Mangers who are well-paid and with 10+ years experience. Lot of those bought houses in the past 3-4 years, finally started having kids, and they are really sweating bullets.

After living through two recessions, and a layoff, I have learned to live below your means and have enough savings for 9moths. I hope they did that.