It is truly depressing all the cuts mgmt takes. Our pay was frozen in 09 "bad econonmy. My pay was froze in 12 and will be 13 "record profits. I heard our CEO pay went from 11 mil to 13mil ?!#$. Why didn't he lead by example ???. I took another 4% gross pay cut with MIP. I will retire soon and I feel bad about how younger mgmt employees are treated. The word Partnership is gone. Upper mgmt eliminated it. We used to owners of the business and would share in profit. All "enhancements" in QPR,MIP, Health Insurance are all design to cut mgmt pay.
Future of MIP! Future of this once great company
- Thread starter jeepguy63
- Start date
2BOver
Member
.....that, and the health care benefits.
TxRoadDawg
Well-Known Member
We got an outsider CEO interested only in institutional investors as shareholder/partners. a .7 mip with record profits is a joke. How do you justify it? Simply manipulate the numbers to such an extent if Casey rose from the grave today he couldn't make plan.
to clarify, it was not a .7 MIP. it's 70% of the goal. so to figure out the MIP "factor":
70% x 2.0 = 1.4
FracusBrown
Ponies and Planes
or is it actually 11.9 percent?
Target is stated as 17% and 34%.
.7 x target = 11.9% for sups and 23.8% for managers.
It works out slightly better using the target percentage rather than the 2.0 target factor. 11.9% vs. 11.66% or 23.8% vs. 23.32%
Will the next enhancment will be an ajustment to the target percentage?
Target is stated as 17% and 34%.
.7 x target = 11.9% for sups and 23.8% for managers.
It works out slightly better using the target percentage rather than the 2.0 target factor. 11.9% vs. 11.66% or 23.8% vs. 23.32%
Will the next enhancment will be an ajustment to the target percentage?
Ben Around
Member
Folks, has anyone heard of LTIP? Heard it is the newer version of MIP for District Managers and above. Any details or knowledge??
Ben Around
Member
looking for info on LTIP
beentheredonethat
Well-Known Member
They don't need to adjust the target percentage.. They will just give lofty goals again, say we suck and next time give us an even lower number. Remember, this year they basically said they were being nice to us give saying we got a 70% to target. It should have been lower. So they already threw out idea that the next time, we don't make these goals, they will give a lower number. Although the whole thing is frustrating.. I wish they would at least admit they are screwing us then trying to con is into believing this is a good deal for us.
Atlanta if you are listening.. We aren't that stupid.
Catatonic
Nine Lives
It's Ben Around for awhile.
Catatonic
Nine Lives
See page 42 - 45 in the 2012 Proxy. Full description, potential payouts, and results.
SignificantOwner
A Package Center Manager
After watching the excuse videos I didn't get the impression that they wanted our feedback. The message I heard was you suck, we're great (Scott actually reminded us that they're an award winning CEO/CFO team), so deal with it. I'm still pumped up.
I got the same impression too. Especially when they started pointing out that they never "cut" salaries in '09 like FedEx. They could have fooled me.
Catatonic
Nine Lives
I'm sure they were coached to not say compensation.
curiousbrain
Well-Known Member
I'm tempted to say that the grass really does look greener "over there", but I'm struggling to find any (metaphorical) grass at UPS. The non-metaphorical kind is readily available.
TxRoadDawg
Well-Known Member
Dam all I ever find are
's and crap. Guess fedex under cut our rates with the local dope dealers lmao
2BOver
Member
Yeah - I wanted to puke when I listened to what I refer to as the FU videos. 33% effective! 33% effective! 33% effective!
The ONLY element that Small Package has the most control over is end to end service, and we were well above target on that one.
They even admitted that they took their eye off of the strategies they were working on to make the targets and expended all of their energy on the TNT disaster.
They must really think we are stupid.
Catatonic
Nine Lives
Powerless is more like it.
SignificantOwner
A Package Center Manager
I don't think they care if we are smart, stupid, or somewhere in between. Middle management is the easiest group to stick it to, and they are taking full advantage.
The next time we hear from them will probably be the help us sell the contract videos.
xcessuv
Benhearb4
Well, 2BOver, hate to break it to you, but the current board is geared to break the company's back to squeeze as much $ as can be squeezed (management, controlled cost). Watch the video again with Scott Davis and Kurt. They are doing all they can to hold back the laughter from what their portfolios will look like after they retire. "We have very competitive salaries when compared to the rest of the industry", we are not "like" the rest of the industry! It's not apples to apples. It's more like apples rotten to the core! Good luck, I hope I make it to retirement(If they don't tap into soon). 30+ years in management and the drivers make more than I do??????? BROKEN!!!!!!
Similar threads
