The Independent Consumer Financial Protection Bureau is scrapping its employee rating system in response to concerns that it was discriminatory.
The rating system ranked employees on a scale of one thru five. Due to concerns with the system, everyone who ranked a three or above is automatically being given a score of five, along with retroactive pay raises associated with the top score rating. These raises will most likely cost $5 million.
Moving forward, the bureau is planning on using a two-tiered rating system for at least two years while the old system is re-evaluated. These changes are coming about after American Banker found that minority employees were more likely to receive lower evaluations than their white counterparts.
However, what this means is that the performers who slacked off or didn't perform at a level of five, are now being rewarded the same as top performers. Many are seeing this as a slap to the face for those who actually worked hard and deserved to be compensated as top performers.
If you have a question or concerns regarding your rights in the workplace, please contact Ambuter Law for your free case evaluation.
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