A staff member of Britain’s second biggest company, HSBC bank, bravely faced off their annual shareholders meeting with criticism of a staff appraisal system that automatically ranks 10% of staff as underperforming – regardless of their performance.
The system means 29,600 staff worldwide are labelled ‘underperforming’ each year.
These staff miss out on pay rises and bonuses, and are also more likely to be targeted for redundancy. Worker and union rep David Uren told the meeting that the system is outdated and urged the board to reform it.
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