MIP Formal Presentation
- Thread starter Six Sides
- Start date
FracusBrown
Ponies and Planes
Turkey, turkey, turkey, turkey certificate, no turkey.
Half month live check, half month live check, half month live check, half month direct deposit, no half month.
MIP formal presentation, mip formal presentation, mip formal presentation, mip in the housemail, ????
Do you see a pattern?
PS - I housemailed one not long ago. I think he got it about a week before he got fired. No joke.
Popeye
Well-Known Member
I agree. I've always HATED the "formal presentation". It's like they're making you sing for your supper or something. Like calling your dog over and making him sit before you give him a little treat. Just give me the $ and stick the little patronizing speech back up where it came from, thanks.
Darth Manager
Member
Excuse my ignorance, but I'm new to the whole management thing and I was wondering would anyone explain what exactly MIP is? How is it beneficial to me as a PT supe, if at all, and how do I use it to my advantage? Can anyone shed a little light on the matter for me?
Catatonic
Nine Lives
MIP is for Full-time management only.
It is part of the pay structure for full-time management.
It is a bonus based payment system where half is available immediately (cash, 401k, UPS Stock) and the other half is in the form of UPS Stock held by the company for 5 years.
pretzel_man
Well-Known Member
Sad statement.....
I have never missed giving MIP to my people. I take the time to speak with each personally.
I tell them that when I'm retired I expect them to carry on the tradition..... I'm proud of this track record.....
I guess given the choice, you won't carry on the tradition.
UPS Lifer
Well-Known Member
On the opposite side of the spectrum, I worked in 3 different districts in the Pacific Region and every year (29 for me) as well as every supervisor had a formal meeting as well as a sit down with the district manager and the department or division head. Of course I can't speak for the last 3 years but I would be very surprised if that tradition has changed in the Pacific Region.
UPS Lifer
Well-Known Member
I disagree. Determined men/women can do anything. A district manager is one of a few people who can schedule a meeting anywhere - anytime - with any of his/her people.
FracusBrown
Ponies and Planes
Since the Pacific region no longer exists, its a pretty sure thing that the tradition is gone too.
They certainly can if they think it's important enough. It would be much more difficult now since a district has approx 500 full time management people spread over several states.
SignificantOwner
A Package Center Manager
The luster of the MIP presentation is gone for me. The award isn't based on a real number (such as earnings), and it's not a real award. You don't get the actual dollars you see on the paper. It's just a piece of paper showing some numbers you might get, or you might get less, or you might get none. It doesn't feel like a privelege so I say just send it in the mail. The grade 20 that just received a couple times their annual salary doesn't need to play act like they're really giving me something big.
pretzel_man
Well-Known Member
Lets think this through....
Yes, MIP used to be based on a strict formula. Now its determined subjectively by the management committee. That's a change. Is that really the cause for the dismay? Look at recent MIP awards vs. historical. In the worst recession of our time, we didn't get the worst MIP. There were many that paid below it. When I started, MIP was usualy in the low 1's.
When thinking about change, how far back do we want to look? Remember, there was a time when MIP was only for managers. Should we go back there? Casey talked about changing for changing times.
I liked the private UPS better than the pubic one. But, not because of stock price or MIP....
You say that its just a number on a paper. It always was. Yes, if you leave, you won't get what is in the "bank". That's about 3 to 6 months salary.
Out of curiosity... What to you do with the 50% you can control? Are you getting A shares? Remember, before you didn't have that choice either. It was stock or nothing and you had to hold it no matter what.
Are you doing that with your elective portion?
I do think MIP should be treated like something big. Its part of the culture of management. Its a shame when I see MIP improperly distributed.
Maybe today, a district manager can't give it out personally any more. But a division manager can. He / she can still talk about what an individual did to help move UPS further. He / she can talk about where the company is going, why, and where the individual fits.
The problem is NOT the mip calculation or % that is held in the Merrill Lynch account. The problem is the lack of stock growth. We were happy with low MIP's because the growth made up for it. The quarterly stock price growth made the hard work worth it.
The company growth is what is needed... MIP is not the cause. Its the effect.
FracusBrown
Ponies and Planes
Growth is a problem.
Holding half of the non-growing stock didn't help much. Basing the payout on flexible schedule creates uncertainty. If you don't do X you wont get what you already earned and if we're not in a good mood you won't get anything. An incentive can't be based upon a maybe. It has to be assured. It makes what was a positive a threat.
Assuming I make it another two years, I'll clear the restricted hurdle so I'm not too concerned with getting it immediately now that my W2 is back up to where it was 6 years ago
It is said that company is not growing like its the fault of the peons (hourly and management) who work like machines. It's the BODs job to drive EPS and share price. They have oodles of cash, resources and unmatched brand recognition and can't figure out how to make a nickel on it?
Not sure what putting more money than required into A shares is supposed to accomplish until they figure out how to make it grow.
pretzel_man
Well-Known Member
Growth is a problem.
Holding half of the non-growing stock didn't help much. Basing the payout on flexible schedule creates uncertainty. If you don't do X you wont get what you already earned and if we're not in a good mood you won't get anything. An incentive can't be based upon a maybe. It has to be assured. It makes what was a positive a threat.
Assuming I make it another two years, I'll clear the restricted hurdle so I'm not too concerned with getting it immediately now that my W2 is back up to where it was 6 years ago
It is said that company is not growing like its the fault of the peons (hourly and management) who work like machines. It's the BODs job to drive EPS and share price. They have oodles of cash, resources and unmatched brand recognition and can't figure out how to make a nickel on it?
Not sure what putting more money than required into A shares is supposed to accomplish until they figure out how to make it grow.
So, you are complaining about the change, but only about the change you don't like??
In the old days if you sold stock, there was a decent probability you would not get it again... At least, you had to have a district manager's approval.
The lack of growth is the issue. Of course, its not the fault of front line personnel, yet you complain about what the management committee is doing to be more Wall Street friendly in a public world.
Look at your bad mood statement. In the worst recession of our time, we got a decent MIP. I think 10 MIP's were lower than that. I guess they were not in a bad mood???
FracusBrown
Ponies and Planes
Not complaining. Just saying how it is. Incentive based upon variables is weak. Reduce pay, benefits, security, opportunities and incentives in the name of growth, then growth is expected.
Gotta catch a flight out in the AM, so you might be on your own to make the point for a few days
RoyalFlush
One of Them
Will MIP be affected by the change from units to percentages?
