COMP NEWS – General Motors (GM) is giving its top performers a 150% merit bonus to its top performers.
General Motors (GM) is revising its employee performance ranking system that will grant top performers with 150% bonuses, according to reports.
GM’s new system expands its previous three-scale rankings to five and ranks employees from “significantly exceeds expectations” to “does not meet expectations,” Reuters reported.
Bonuses are linked to these rankings, with top performers rewarded 150% bonuses, while those in the middle category will receive 100% of their target bonuses.
“GM is proud to have a culture where we foster and reward high performance, which will help us attract and retain top talent in a competitive industry environment,” a GM spokesperson told Reuters.
“That includes everything from ensuring employees know what is expected of them, providing feedback so they can develop, and rewarding them for their performance.”
To read more GM’s new merit bonuses, click here.
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