Is there attrition in your group, are people leaving? If yes (or now), tell us why...
A good manager? Interesting work? etc...
25 replies (most recent on top)
Think of it more like this-
Ford sells automobiles. Ford buys into power tools and has some employees working that side of things, but its not making the same money that autos does because they are forcasting a gigantic consolidation amongst companies and the sheer number of those jobs being done by AI, so they put those jobs on a back burner. People leave. Advisors are the power tools workers. Its a field becoming increasingly automated on a large scale, and the ones who are denying it are generally the ones who were hoping to make it to retirement age doing that job. The sad reality is that unless retirement is in 5 years or less, you'll most likely be finding another job. They may run to other companies now, but once those companies see how much pure profit AI and automation bring in, the jobs at those companies will disappear as well.
What business in it's right mind directs customers elsewhere? Ever see Amazon tell customers "go shop at Walmart.com instead, that item is cheaper there..." No, you don't. Or Nike telling customers "go buy some Asics instead, they are just as good and made in the same Chinese factory..." Or Starbucks telling customers to go to Dunkin Donuts instead because the coffee is cheaper and tastes just as good. Or Chevy telling people to buy a Ford F150 because it gets better mileage. We could go on and on, but the point is, it doesn't seem to be 'wrong' for every other business on the planet to direct customers towards 'internal' products. JPM and BofA aren't turning people away and sending them to us either.
@2cfg+1doQ3Gch
Yes, you get what you get, no customization. Its easier for support. Exceptions, work-arounds, and avoidance cost a lot of support dollars. Its better when its one set of tools one method, etc. Then they can capture those processes for automation much more easily.
@1yxb+1doQ3Gch
“I can keep going on and on”
Please don’t drama queen. LOL
I am in a Corporate Risk group. We have had a lot of attrition. So much so they are doing a mass hiring (multiple people for one posting). It isn't going well. Can't find good talent, even externally. The work is suffering. And, they also just "streamlined and centralized" certain roles to a central team within CR. Those jobs will be busted up by topic at some point. And, they will be doing this with even more roles within some of the teams. Is all in the name of "centralization and streamlining". The support for teams is already suffering and will get exponentially worse with the new central team. Oh, and did anyone mention the move to Office 365, Teams and SP online are happening in a "you get what you get with no customization" method? And will be implemented here soon (starts Q1 2022) with no ability for users to test. We were actually told in a meeting this week with the software engineers to go to the Microsoft site to learn more as WF will be using the "out of the box" functionality. People on that call were MAD. SO much change with no support happening that people cannot keep up. The result is people are leaving. Quickly.
I’m leaving in a few weeks; I’m higher paid and not in tech so it took me some time to find another opportunity that I wouldn’t hate and would pay more; I’m leaving because the culture is now toxic, there’s too much work and no recognition for it and the nail in the coffin for me was removal of wfh and impending location strategy.
The one person who left our team hated agile and was constantly not doing this work, wasn't attending standups and was rude to everyone. The guy was pure poison. Developers from other teams refused to answer his emails and people had to send emails on his behalf in order to get them to work with him.
Post ID: @1liv+1doQ3Gch
To say that an employee is part of the problematic core is naive at best. Employees have no say over the cost cutting and profit-making decisions which negatively affect a customer’s yields on their account. I do raise my voice early and often, but most people who have been here for years acknowledge that devils advocates are not welcome. I’ve had a few short-term wins, which I am proud of, but over time the tide is overwhelmingly against anyone who stands up for doing right by our clients. My manager, 35 years in the business, raised his voice about a change in philosophy which goes directly against what our execs are preaching publicly and they cut him 6 months later.
The problems are all over if you know where to look. I would say, in general, there are departments which are misstating their purpose (profits vs providing product), departments which direct business internally vs externally thus disadvantaging client prices, compliance people looking the other way in order to not disadvantage their career, cost cutting and internal politics which result in incorrect calls on the market. I could keep going on and on.
You don’t have to believe me - If you need an excellent example, look no further that the recent FX scandal. That is happening in all shapes and iterations throughout WFC.
Been told my group is free from layoffs for the rest of this year.
I'm considering every external possibility, from Truck Driving to Nursing School to escape this place.
You are aware that YOU are part of the "core" of the company, right? Also, let's not split hairs. There's people that believe that any business charging anything for their services is "ripping people off". Quixotically, the same people think the guy sweeping the floor should be making $25/hr. Not sure what magical money tree that $ is supposed to come from, but in any event what are you actually talking about?
Are you talking about actually stealing people's money, or simply charging people for our services? If the former, why are you doing it? Sure as heck isn't happening in my group.
Those larger companies are manageable, today, because they were never rotten at their core. WFC is. Nothing different about Charlie. He is still self-serving and greedy, narcissistic and out of touch with the changing world. And he has surrounded himself with new highly paid yes-men who will never buck him.
My department and LOB is “dirty” today, compared to 5 years ago. We used to conduct ourselves in a manner which was always best for the customer. Now - decisions are made based on what is best for WFC, and the customer gets dinged every time. They may (or may not) have cleaned up Community Banking, but they keep coming up with other ways to squeeze our customers.
lol, no one really cares about your opinion, or mine, but companies that are being held down by intense regulatory requirements and have a lot of turn over at the top/bottom, and still pull in $20B / year don't need to be broken up. It's a little bit like a sports team. Just because the last couple of coaches couldn't get to team to the promise land doesn't mean that next one won't, or can't. There's plenty of companies larger than WF that are "manageable". It's hardly impossible , so it's not time to do anything rash that can't be undone like a 'break up".
Tired of the creep of 9, then 10, then 11, then 12 hour days.
People are leaving for remote working opportunities, family reasons, and they are just sick of the bu-----t! Some of these people have been here their whole career. Morale is awful, so I don't blame them. I hope I can join them soon!
Yeah if if was broken up, no more outside consulting bills, no more regulators, no bs DnI expense, and about 200k jobs lost and sent to India.
@1awd the company absolutely should be broken up, and should have been about 10 years ago. no one is leaving because of something that everyone's been saying for a decade but that no one has the courage to actually enforce.
Post ID: @1imi+1doQ3Gch
You sound like a child who is so insecure that you need to keep putting others down in order to boost your fragile ego. I feel sorry for you and hope that somehow you heal and can start spreading love instead of hate.
Personally I am thinking about leaving. The firm underpays us (we have phds in highly desirable STEM fields so probably you know who we are). Other key factors include: deadwoods playing politics stopping promotions for us; deadwoods don’t do the job/don’t have the skills to do the job so they dump almost all the jobs to us; and the manager actually sucks.
Frustration with process, systems and higher compensation (higher base and bonus) have influenced departures.
This is a good company so most aren't leaving. Most the layoff talk is just from losers with low ratings or people who got let go for poor performance. Good company cutting the dead weight.
I know I'll get push back for this but it is true so I am saying it. Ever since the Lizard put her claws into WF and mentioned "breaking it up", our area has lost 6 people. I actually counted today. I wouldn't classify this as covid but "other" related.
Our “Leadership” unintentionally created an environment where people are hanging around hoping for a severance package. I would estimate 40% of current employees are hanging around for that reason only. That’s what you get when you put out there that you’re going to cut 1 out of 4 employees. It brings moral down, breeds contempt for management and demotivates people from giving their best.
If I could offer our Execs 1 piece of advice, it would be to offer Voluntary Severance Packages which moves the people out who do not want to be here. (I’m not throwing any shade - I get it.) Boeing has been doing it for years. And then build a new team with new people who want to be here and will get on board with the new management team. It is the ONLY way to take WFC forward. Everything else is just half-assed management, and weak leaders who cant make a decision and are unable to pull the trigger.
3 people left in the last mo this... reason: do more with less mantra is not appealing to people. What a surprise! For projects timelines event at discussion level already do not make sense and/or setting teams to failure, so why bother to ate yourself up for it when market allows for another place to be at....
I know a few in tech that have left recently. Some with new offers, some just leaving without an offer. None seem to be leaving due to manager problems or poor pay. All are leaving because they do not like all the BS in the place. Too many obstacles to get code into production, too many nonsense procedures or processes, non-stop change using tools that do not function properly, and also the whole rto. Plenty of tech jobs available that are full-time wfh, and less headaches than this place.
Nobody in my marketing group leaves. It’s too cushy, especially now with WFH. I know people who spend all day on freelance projects and barely give WF a second thought.