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Gold stars
Mar. 18th, 2003 08:50 amAt work, we have to turn in this long document if we feel we're ready to move up in position, and get a raise. It's called "Career Pathing", but what it really is is write a thesis on why you deserve more money.
I've been working on mine, one that's long overdue, and as cosmically normal, my procrastination has now got the better of me. This email, from the Senior Vice President of our division popped into everyone's email boxes yesterday afternoon...
-----Original Message-----
From: Green, Tony D
Sent: Monday, March 17, 2003 4:12 PM
To: *HOU- AFS Houston All; *AUS- AFS All
Subject: Career Path for AFS
Dear Fellow AFS Associates,
You are familiar with the continuing pressure on the financial markets and
therefore the extreme impact to the AIM Investments and AMVESCAP
shareholders. The events of the past two years and what appears to be
similar events in the near future continue to decrease both the assets of
our shareholders that are loyal and remain with us, as well as the direct
loss of both assets and accounts of those that leave. The asset loss
impacts the revenue stream to the rest of the firm and the account loss
impacts AFS. In both cases our revenue continues to face challenging
decreases that require continual action to better our (AVZ/AIM/AFS) fiscal
condition.
Therefore, effective today all across AIM there is a freeze on job
promotions that are not due to a direct change in job functions and moving
to a higher level of job responsibility and reporting. For AFS, this
means that all Career Path advancements are on hold. While our commitment
to the continued improvement in the overall education and ability of each
of you remains, we will not be able to make actual advancements in job
titles or grades until such time as the financial health of our company
starts to show solid signs of improving.
While we regret this policy had to be adopted, I am sure you can
understand that as we have attempted in the past to manage the largest
expense item, compensation, through freezes of focal point increases at
year-end and cuts in the bonus plans, these efforts have been diluted due
to fact that in many areas, not just AFS, the job advancement programs
that were put into place in the "heydays of AIM" ever growing assets and
accounts continues to increase the compensation all across AIM even when
times are tough. Everyone is impacted.
Therefore, the AIM Executive Committee has put forth this change across
the company. This change does not just impact AFS.
I ask each of you to not let this deter the level of service to your
customers nor impact the enthusiasm with which you have delivered that
service in 2002 as well during the tough times of conversion. I would also
encourage you to not stop any of the existing learning efforts that are
required to move you to the next level. While we cannot predict when this
hold on promotions will be able to be modified, at some point the
opportunities to actually advance will return. When it does, those that
have shown the commitment to continuous improvement and getting ready for
the opportunities that come your way, will be the first to gain the actual
rewards. Also, continual learning and improving yourself is always
beneficial to your satisfaction in yourself and your job.
Thank you,
Tony Green
I guess I'll be seeing a few more resignations coming across my desk in the next week.
Remember, doing your best is it's own reward. *snort*
In other words - don't let this get you down, but there's no raise for you here. Still, if you work hard, you'll be eligible for a gold star, should we have it in the budget to buy a box of gold stars.
I've been working on mine, one that's long overdue, and as cosmically normal, my procrastination has now got the better of me. This email, from the Senior Vice President of our division popped into everyone's email boxes yesterday afternoon...
-----Original Message-----
From: Green, Tony D
Sent: Monday, March 17, 2003 4:12 PM
To: *HOU- AFS Houston All; *AUS- AFS All
Subject: Career Path for AFS
Dear Fellow AFS Associates,
You are familiar with the continuing pressure on the financial markets and
therefore the extreme impact to the AIM Investments and AMVESCAP
shareholders. The events of the past two years and what appears to be
similar events in the near future continue to decrease both the assets of
our shareholders that are loyal and remain with us, as well as the direct
loss of both assets and accounts of those that leave. The asset loss
impacts the revenue stream to the rest of the firm and the account loss
impacts AFS. In both cases our revenue continues to face challenging
decreases that require continual action to better our (AVZ/AIM/AFS) fiscal
condition.
Therefore, effective today all across AIM there is a freeze on job
promotions that are not due to a direct change in job functions and moving
to a higher level of job responsibility and reporting. For AFS, this
means that all Career Path advancements are on hold. While our commitment
to the continued improvement in the overall education and ability of each
of you remains, we will not be able to make actual advancements in job
titles or grades until such time as the financial health of our company
starts to show solid signs of improving.
While we regret this policy had to be adopted, I am sure you can
understand that as we have attempted in the past to manage the largest
expense item, compensation, through freezes of focal point increases at
year-end and cuts in the bonus plans, these efforts have been diluted due
to fact that in many areas, not just AFS, the job advancement programs
that were put into place in the "heydays of AIM" ever growing assets and
accounts continues to increase the compensation all across AIM even when
times are tough. Everyone is impacted.
Therefore, the AIM Executive Committee has put forth this change across
the company. This change does not just impact AFS.
I ask each of you to not let this deter the level of service to your
customers nor impact the enthusiasm with which you have delivered that
service in 2002 as well during the tough times of conversion. I would also
encourage you to not stop any of the existing learning efforts that are
required to move you to the next level. While we cannot predict when this
hold on promotions will be able to be modified, at some point the
opportunities to actually advance will return. When it does, those that
have shown the commitment to continuous improvement and getting ready for
the opportunities that come your way, will be the first to gain the actual
rewards. Also, continual learning and improving yourself is always
beneficial to your satisfaction in yourself and your job.
Thank you,
Tony Green
I guess I'll be seeing a few more resignations coming across my desk in the next week.
Remember, doing your best is it's own reward. *snort*
In other words - don't let this get you down, but there's no raise for you here. Still, if you work hard, you'll be eligible for a gold star, should we have it in the budget to buy a box of gold stars.
