America's new consumer watchdog agency has come up with a unique solution for its troubled employee-rating system: Give almost everyone a gold star.
The independent Consumer Financial Protection Bureau -- created under the 2010 "Dodd-Frank" financial industry overhaul to serve as a consumer watchdog -- says it's scrapping its system of employee ratings in response to concerns that it was discriminatory.
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| hahahaha ... You can't make this crap up. "The Government Agency That Kicks Ass." ... Yeah ..Except their own. |
That rating system assigned workers a score of between one and five. Due to concerns with the system, everyone who scored a three or above, regardless of performance, will now be getting the top rating of five -- along with the corresponding retroactive pay raises that the top rating brings.
Those raises will likely cost more than $5 million, according to the American Banker, which first reported on the ratings troubles in a March 6 article.
Going forward, the bureau is looking at using a new two-tiered rating system for at least two years while officials evaluate the old system.
But the retroactive payments raise the possibility that workers who slacked off could be rewarded the same as top performers.Read the rest of the story HERE.
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1 comment:
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