Performance pay grading extended to 3,000 AIG workers
AIG is expanding an employee-ranking performance pay system to cover at least 30,000 workers, or more than half those left after the life insurance sell-offs, Bloomberg reports.
Sandra Kapell, vice president in charge of staff performance systems, said: “We’d like to have a consistent, transparent performance management process across all of AIG.
“We have to be careful that our compensation programs allow us to retain and attract people with the skill sets we need to repay our obligations.”
Worries at the bottom
“It had been widely reported that in these types of programs, if you’re in the bottom 20 percent, you pretty much have a ticket out the door,” Kapell said. “We truly view the ‘needs improvement’ category as an opportunity for people to have conversations with their managers.”
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Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
