Federal officials with the Consumer Financial Protection Bureau are discriminating against productive employees, whites and Asians with their recent decision to award all employees a perfect evaluation.
The CFPB, a federal watchdog department created in 2011 with the mission to “make markets for consumer financial products and services work for Americans,” will award all of its 1,100 employees a top annual performance review rating of ‘5’ after an internal analysis last month found black and Hispanic employees scored lower on average than white and Asian workers, the Daily Mail reports.
“The average score for white employees last year was 3.94, while the average was 3.81 for Asians, 3.69 for Hispanics and 3.63 for blacks,” according to the news site. “Unionized employees scored an average of 3.79, while their nonunion counterparts scored 4.04.”
The performance ratings are important because they’re used to determine salaries and promotions.
The CFPB May report stated that the performance rating system “did not meet our own objectives and expectations,” because of the correlations between race or union status and the performance ratings.
In other words, because whites, Asians and nonunion employees scored better than others, something must be wrong with the system. That led CFPB to jump to the conclusion that the best course of action would be to give all employees a top rating, regardless of whether or not they deserve it.
Bankstocks.com reporter Thomas Brown was among the first to chime in on this obviously bad idea.
“Everyone’s a winner!” Brown wrote. “Only rather than a trophy, everyone gets cash money. Welcome to cloud-cuckoo land.”