Reply to Capital One’ Performance Management System

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is so archaic about it?[/quote]

It’s a forced balancing/quota system.  10-15% “have to” fail.  [/quote]

That was discussed where I work many years ago. I believe GE used to follow that philosophy.  To me that just means you’re saying you have incompetent hiring practices if 10% of your staff are worth firing every year.  [/quote]

Are 10% actually fired each year?  Or no bonuses for them?[/quote]

They won’t fire you on the spot.  They’ll mess with your bonus and merit pay and place on PIPs and give you strong hints that things aren’t going to go well for you.  There severance packages aren’t bad though.  If they are nice and “abolish” your position, you can get 6-8 months severance.  Othwrwise, it’s about half that.  The good ‘ole boys (and girls) networks are alive and well there.[/quote]

I did not work in the banking industry but the above is similar to what happened to me.  I was brought up for "retraining."  I was heavily monitored for 8 months. I quit after 8 months.
If I had had stronger good ol girl/boy connections with our VPs I don't think this would have happened to me.

I find it a bizarre business policy to implement. [/quote]

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