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Yep, if under some level (ie everyone under a VP with 50-300 engineers) basically every division needs to hit 5/30/30/30/5 then you do indeed have a stack ranking, just under a different name.

The main difference is that being in that bottom 30 is usually not “bad” under that system, ie it will have maybe a 0.8-0.9x expected bonus multiplier. Whereas under most stack ranking systems that call themselves as such, a D grade might mean that if you get another D you’ll be in hot water

“Meets most” is just the politically correct version of PIP or “you should look for other jobs now”

that's "meets some". Meets most means you have 1 or 2 secondary axes you need to fix

Do you have reason to believe this happens?