New Comp Plan

I've never been so pissed at KCI as I am today. I don't understand a long term strategy here, unless there is not one. Odd that we make these drastic changes one month into the new quarter. In one week our CFO leaves, comp reworked to alienate every field rep, and sack an entire division. Sounds like a short term plan to hit a magic buy-out number. Thoughts?

 

Agreed that the focus is all over the place. This reminds me of the end of qtr shuffle we would be forced to do with Vac Capital sale. Basically pump the number at all cost. The leaders at KCI have a weak vision. Where is the leadership? Stop the reactionary foolishness. Layoffs and reworked comp plan are not the way to motivate sales people. How about a plan that favors the sales force. Mocca's plans are never sweet for sales.

 

typical kci "screw your employees" anyway you can! no one will every make any money at this company. no worries, this new branding is the death of us anyway.

 

I have worked here less than 1 year. I have never wanted out of a job so much in my entire life. This company is NUTS! Every single week the direction changes. Every quarter something is taken away from employees. Does anyone really know what's going on in this insane asylum? Come on recruiter…get me outta here.

 

Unfortunately having KCI on a resume seems to be a huge black mark. I took this job out of desperation and it has been the worst decision I've ever made.

 

We now have the name Acelity.....you can hide KCI on your resume.

 

This from a company that claims to "pay for performance". When you're asked to "pay to work"... It's time to go. This company's downfall goes back at least to CB, but this is an all time low.

 

I don't post on this site or even read this stuff. I am a 20 year senior sales rep. I am concerned what is going on. The CFO quitting is a red flag. He is the one that had the purse strings and obviously knew future earnings are bleak.

Last ditch effort by top execs trying to salvage numbers and pull a Hail Mary for an IPO.

This will be an interesting bumpy ride to say the least.

Pray it works out.

 

New CFO Posting... "Future IPO Company needs CFO with Fuzzy Math Skills in order to hide perpetual loses. Must be willing travel and have eraser"

 

boy oh boy, "somethin' bad about to happen" here. Going to be alotta openings here in the very near future. Managers offering to give great references to their teams all around the country. Unbelievable.

 

This comp plan is complete BS. Sales will take another pay cut so senior mgt can get bonuses. This is ridiculous. Time to look for a new job.

 

Anyone else feel like we just got f&@ked without lube? They are doing the corporate dance!! How is it that we work for the largest wound care company in the nation and we are the worst paid?! Come on guys pull your head out!!!!

 

So sad, what a joke. 3 years ago we were 150K at plan. 2 years ago it went up actually to 153K. Then we got the point structure, sweet! If you notice, nowhere on the comp plan does it state your at plan number! We have always had an at plan compensation number -- Oh but we don't have quotas everyone??? what the fuk does that even mean. Ridiculous.

"We are over budget for compensation this year" - Huh? How is that even possible. Sweet company, lets win back millions of dollars in Revenue from S & N, yet we will cut our pay to all of our reps and also take out an entire division.

 

It's all about EBITDA for Apax- short and simple. Cutting people and comp boosts EBITDA.

 

Cutting reps will cause a problem with the E in EBITA.

Cutting bonus, in addition the the substandard base salary, no company car and no vacation accruals, will continue the mass exodus.

 

They are in this for the short term-it's to get to the IPO. They are leveraging the S&N situation and enjoying the increased revenue..but they need more to fall to the bottom line. Unfortunately there aren't a lot of great med device jobs out there. There are very talented reps in large and small markets struggling to find something better and get out oh Acelity. SLT know this and that very few people will quit without another job. The WTR numbers will go down...but Apax doesn't care about that.

 

Give reps sweat equity, parachute packages and other perks. Otherwise match the % cut to top level execs, stop signing ignorant parachute packages that creates automatic 7 figure loses and play ball on a level field.

Sales come from reps(grunt workers). Sales=revenue for the Company.

Revenue pays the rest of the non sales people at KCI, especially upper level mgmt.

Layman's terms, my sales pay your salary. Never forget where your money comes from.

Have a written plan of action for the sales force to abide by and see. Shooting off the hip is not wise and reflects like a struggling amateur trying to lead when you are way over your head.

Heed to my free advice.

Text book 101 - leadership qualities!

Remember this consultant, you are disposable to Joe Woody if you can't hit your mark. Contract will not be nenewed and you will also lose your IPO chance to make it big. The market will not give 18x's earnings for 9 quarter losses.

Rebuttal

 

oh believe me, people WILL leave. staying home is a good option as well…why make more $$ for these a**holes??

 

Can't wait to make all those points selling Prevena and over priced Vera flo dressings to a SNF !!! That's going to work well!

 

Mark my words: at some point in the near future we will get back the $80 monthly car crumbs, just so they can say they were listening to us. This will have been the plan all along. Makes you feel a little bit better, but you're still getting screwed out of THOUSANDs in the comp plan.