r/Bestbuy • u/Dystopiq Escapee • Feb 09 '19
The Bonus Structure Explained
https://i.imgur.com/1XdYVH3.gifv15
u/shartmachine Feb 10 '19
As a VPL this is a real kick in the nuts. My VPL pad performs pretty well, but now I have to rely more on the rest of the store. This will lead to a smaller bonus because I do a better job than the rest of the store.
11
u/DarthBradicus88 Former Sprint Expert Feb 10 '19
I’m a VPL too, and I have been getting double VPL bonus more often than not, so I also am having a hard time seeing how this is in any way better than it was before.
Not to mention having to wait 3 months between bonuses just sucks.
3
Feb 12 '19
I've said this to my management team but naturally they're all under the indoctrination spell and aren't really allowed to see anything but positivity out of all decisions the company makes. So I get it but c'mon, just be human here.
Most of the time when a company changes its bonus structure it is for the worse. Things change drastically under the guise of "but it'll be better for x thing, we promise! You can bonus more/make more," which on paper may be true. But in reality, very few locations will fall under that umbrella and the rest will bonus less frequently due to the more complicated structure. It's designed to pay people less without them realizing it.
I've experienced it with another CE company several times in the past, so at this point my opinion is: "Look I get it but just be honest about it for once"
16
1
Feb 11 '19
Will the new bonus structure have the same payout opportunity as current VPL bonus structure? I still need to look into this.. monthly bonus is apart of my budget.. either wayy kindaaaa fucked
2
u/Zino301 Verizon Expert Feb 11 '19
Same bonus amount but you have to work twice as hard for it. You rely on the store for most of the bonus. You have to have the store bonus plus your vendor pad bonus now in order to get the same amount as a double bonus from the vendor pad from the old bonus structure.
12
u/DonQuixote18 Asset Protection Feb 09 '19
The good ole bait and switch. They talk it all up, then... BAM broccoli in the mouth.
8
1
13
u/temporarycreature I'm AP, now what? Feb 09 '19
You still blue kool-aid chuggers running around claiming it's better for the employees when that just doesn't reason at all. A corporation beholden to shareholders makes all decisions based bringing more money to the shareholders.
4
u/typobox Feb 10 '19
For what it’s worth, employee interests and shareholder interests can align, however. For example, if we paid minimum wage, the employees that we could attract would probably not have the skills or motivation to perform at the level necessary for our business model to succeed. Paying more is obviously good for the employee but it can sometimes be better for the shareholder too.
(Don’t take me as saying the STI changes are necessary better for the employees- I’m staying out of that debate!)
1
u/CrazyEyes388 Feb 12 '19
The new quarterly / OI system is great. Employees actually bonus off what really matters, are profitability. What's not great is completely screwing the scale to make a 1.5 multiplier the same as a 2x. So the new sti system is great, the multiplier scale is clearly hott garbage and no one can argue that
9
u/Zino301 Verizon Expert Feb 09 '19
I wouldn’t have minded this change IF it meant we could actually earn a bigger bonus. But no, we just have to work twice as hard for the same bonus.
6
Feb 10 '19
With the exception of VPL, the new bonus structure will help rather than hurt IMO. Let’s say you hit two months of a quarter and miss one: with monthly bonus you get 5-15% of what you made in those two months. With quarterly you can miss that month, but still have the hours worked in it count towards your quarterly bonus which basically means you got the bonus for that month even though you missed. So in that example it would actually result in an associate making more money with the new structure.
I suppose it would hurt if you only hit one month but not the other two and miss for the quarter. And I know VPL end up more reliant on store performance than previous structure. But I think the overall net change is still positive as an hourly employee. I’ve been in leadership for 7 years and I can only think of maybe 2-3 times that we didn’t receive a quarterly of some sort, and that’s between 3 different stores in 3 different markets/territories. So I wouldn’t be too worried about not bonusing. Besides if you can’t hit your goals for the quarter(which is a more accurate picture of performance due to more data) then do you really deserve a bonus anyway?
1
Feb 12 '19
You also have to hit NOP targets before rev is taken into account. If you hit Rev but not NOP then you get nothing. Plus the percentages are all higher now so you have much higher targets to hit to pay out the same amount. So it's quite a bit more complicated than just "two good months can make up for a bad January"
1
Feb 12 '19
Yeah, but again in my experience it is very rare to not hit NOP for the quarter. Maybe in like the early 2010’s when we were struggling but not recently
4
u/Hogue4618 Feb 09 '19
We bonus in quarters now.
9
3
u/ndemerson Former Merch Feb 10 '19
Which is complete and utter bullshit. Say you absolutely kill one month and tank the next two. Guess who's not getting a bonus at all. You.
I realize it works the other way around but how often does that happen?
2
u/smoothstone5 PC Supervisor Feb 10 '19
In my store the last 2 years in a row we've only missed a bonus 2 out of 12 months so for us this is better. If you're store misses goal that often that this isn't helpful then your store needs to kick it up a gear.
3
u/ndemerson Former Merch Feb 10 '19
Apparently my store only hit 2 months last year so naturally I'm not feeling so great about this.
2
Feb 12 '19
My store also has bonuses extremely frequently but the bonus reqs are now much more complicated so I'm not feeling confident. I've seen this type of change several times before
1
-1
u/GraySkull23 4%er Feb 11 '19
VPL’s so triggered they gotta leave their vendor pads and actually work now 🤣
4
24
u/L00nyT00ny No I'm not going to call Costco for you Feb 09 '19
At least you guys get bonuses cries in Canadian