Gm Changes Salaried Performance And Bonus Plan To Attract Top Talent Thin Poor Performers

General Motors Alters Performance Evaluation System

New Plan to Attract and Retain Top Talent

Rewarding High Achievers and Addressing Underperformers

DETROIT, Aug. 1 (Reuters) - General Motors (GM) is overhauling its performance rating system for salaried employees. The move aims to attract and retain top talent while addressing the issue of underperformance. According to the revised system, the top 5% of employees will receive substantial bonuses after their year-end performance reviews, effective after the fourth quarter of 2024. This aligns with GM's commitment to rewarding high achievers. "GM is proud to have a culture where we foster and reward high performance," said a company spokesperson. "This updated system recognizes and compensates our top performers for their exceptional contributions."

Additionally, GM is introducing measures to address underperformance. The lowest 10% of employees will receive no bonuses, while the next 10% will receive reduced bonuses. This approach aims to encourage improvement and hold employees accountable for their performance.

GM employs approximately 53,000 salaried employees in the United States. The company believes that the revamped performance rating system will help them attract and retain the best talent, while fostering a culture of excellence and accountability.

This strategic initiative underscores GM's ongoing commitment to maintaining a competitive workforce in the automotive industry. The new system provides a clear framework for assessing performance, rewarding success, and addressing underachievement. It represents a significant step in the company's efforts to drive innovation, productivity, and long-term growth.