Pros
Interesting project that requires serious talent, very interesting & challenging
Cons
Forced ranking: it crushes morale of the "lower" 30% who have achieved everything they (with management agreement) proposed as goals, yet are forced from acceptable accomplishments to unacceptable. You find out too late that ratings are arbitrary and have no relationship with actual accomplishments. Management is forced to push ratings down to achieve corporate targets: if you are rated at the bottom you can be dismissed with 1 hour to clean out your desk. Adding insult to injury, under these circumstances, the company does not provide any severence package. Those who avoid the lower rankings find themselves feeling guilty for those who get screwed. Mid-level management apparently does not have the nerve to stand up to Hobert to tell him how stupid and demotivating this process is.