Transcription
FY23 Equity andPromotionManager Enablement SessionMay 18, 2022Confidential 2019 VMware, Inc.
AgendaKey DatesLinkage to Talent PlanningBrief Overviews:Promotion PlanningEquity PlanningPay PlanningScenarioQ&AConfidential 2019 VMware, Inc.2
Key DatesMay 6Talent data (segment) snapshotMay 12Org Snapshot (for Equity and Promo)May 19 – June 1May 24-31Promotion Planning in WorkdayEquity Planning in WorkdayJune 1Equity Grant Date (for eligible countries)June 14Org Snapshot (for pay planning)Pay planning in WorkdayCommunicate outcomes to employeesSalary changes & promotions effectiveJune 21 - 30July 18-29August 1Confidential 2019 VMware, Inc.3
Talent Investment StrategyAssess and Calibrate Talent Throughout the Employee JourneyTalent Assessment and Calibration is continuous and integratedDevelopmentPlansGoals, OKRsCoachingHiringTalent AssessmentTalent AssessmentCareerMobilityContingency/ Succession/Hiring PlansConfidential 2019 VMware, Inc.TalentCalibrationDiscussionsPay,Equity,Promos
Talent Planning OverviewConfidential 2019 VMware, Inc.5
PEP Phase 1 Deep DiveConfidential 2019 VMware, Inc.
FY23 PEP EligibilityPromotionsEquity GrantsContributing to budget: Hired on or before November 29,2021Employees hired on or before April 1, 2022 date will appearin tool for both promotion and pay planning;Exclusions Employees hired after April 1, 2022 will not appearin the planning tool No promotions into VP roles (pay increase only)All Managers make promotion nominationsConfidential 2021 VMware, Inc.Exclusions Employees hired after April 1, 2022 will not appearin the planning tool Country Group Zero (e.g., Philippines) All Fixed Term All S Level (Support)Equity Planners are typically VP level7
PromotionsProcess and Timing (these will vary based on business, but are intended to bake in time for rollups prior to the hard close date) May 19-25 – Manager through Sr Dir submit promoMay 26-27 - VP review, calibrateMay 30-June 1 – SVP review and calibrateJune 2-3 – OLT/PLT/GLT review, calibrate, and plan equity (rollups)Promotional Guidance Promotions happen 2x per year with guidance set at a maximum of 20% at the Enterprise level throughout the yearOrganization-specific guidance will vary and be based on promotions from Feb. 1 cycleLeaders should keep in mind that organizational health, structure, and job-level promotion rates (i.e. higher rates at lower levels) are importantfactors to consider when reviewing, approving, sending back worksheetsPromotions are defied as a move to the next level (i.e. P4 to a P5 or M3 to M4)DEI Considerations Sr Leader memo and Pre-PEP engagement calls for Sr Leaders to review org DEI metrics prior to Phase I via DEI Dashboard The dashboards will be refreshed on:– May 25 – after planning is done at the Sr Dir below levels– May 29 – after planning is done at the VP level SVP leaders should reference the dashboard during their planning window and during rollups to ensure that the nominations are aligned withDEI metric expectationsResources PEP Source PageJob Selection ToolConfidential 2019 VMware, Inc.8
Equity PlanningEquity Planning occurs in Workday Planning generally held at VP and Sr Director levelsNew Features in FY23 Front-loading vesting (33% in Mar 2023) Quarterly vesting thereafter Potential for shorter vesting based on performanceSimilar to FY22 Participation and Target Guidelines Higher participation rates at higher grade levels and in more technical roles (Product / SoftwareEngineering) Budget contributions from those hired on / before November 30, 2021 June 1st grant gate for eligible countries Needs Improvement employees will not receive equityConfidential 2019 VMware, Inc.9
Pay Planning Pay Planning will be conducted separately and part of Phase II in June Increases effective August 1 All people managers make recommendations & input into Workday (WD) Promotion increases will be pre-populated with recommended amount Promo increase and pay increase will be combined Managers have discretion to adjust increases for each employee whilestaying within established budget Market adjustments will appear as a separate column on the same tab andmanager is unable to change the amount. Can simply opt out or accept. Country guideline–Guidance based on market projections–Appears in WD planning grid/worksheetConfidential 2019 VMware, Inc.10
ScenarioConfidential 2019 VMware, Inc.11
Scenario: PromotionWill Carlos be able to do an “off cycle” promotion? Isit now or never?Carlos manages a team of 10. He planned to promote two employees during this cycle.However, one of the employees, Mike, is not yet ready. There are still areas he needs tostrengthen and skills he needs to develop. Mike is expecting a promotion now. Carlosfears he will lose him.What should Carlos do?Move forward now? Or, wait? VMware runs a promotion cycle twice a year, Carlos shouldwait to promote Mike based on individual readiness and reevaluate during the next promotion cycle.Promote Mike when he’s ready for the next level positionEmployee readiness is a key component in a promotion—after business need is confirmed.o Manage Mike’s expectations about the next level role and give concrete examples of whereextra development is required and ways he can build those capabilities.o Continue to give Mike interesting, challenging projects that keep him engaged and growing.oConfidential 2019 VMware, Inc.12
Q&AConfidential 2019 VMware, Inc.13
Thank YouConfidential 2019 VMware, Inc.
HR SOURCEConfidential 2020 VMware, Inc.15
Confidential 2019 VMware, Inc. 9 Equity Planning New Features in FY23 Front-loading vesting (33% in Mar 2023) Quarterly vesting thereafter Potential for shorter vesting based on performance Similar to FY22 Participation and Target Guidelines Higher participation rates at higher grade levels and in more technical roles (Product / Software
