The leadership thinks swapping out experienced folks for cheaper new hires and outsourced labor is smart business, but it always backfires. Morale tanks when solid people get cut, and most of the ones left start looking for exits. You can’t build loyalty when everyone feels replaceable.
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@1r8 "Bill focused on DEI and the Georgia voting law. The intranet distracted us from our jobs to discuss menstruation, identify politics,"
Jeez, you shitheads have to turn EVERYTHING into just another big whine about your endangered white male privilege, don't you.
@OP Well said. I wasn't actively looking at the start of the year. I am now. I hate going into the office anymore. They will dismantle in-house tech and hope foreigners trained by qualified workers forced to train them on the way out, will be their saving grace. Yeah, they will pay less in salaries, but innovation and output from them will be limited, and it won't save the firm from bad business decisions. The other day I saw an ad and was thinking what a d-mb ad it was as whatever company/product was unclear through 3/4 of it. Then the T Rowe Price logo appears. The ad did nothing for me. It was just vague BS. Other ads state what sets them apart from the others. This place is doomed.
TROW always underinvested in technology and innovation. We milked retirement, growth stocks and target dates. Meanwhile, no tech, no passive, no ETFs. Just mutual funds, phone operators and hire, hire, hire. We engaged McKinsey when Stromberg took over; how did that help out long term strategy? Instead, Bill focused on DEI and the Georgia voting law. The intranet distracted us from our jobs to discuss menstruation, identify politics, . . . anything but outflows and an outdated product line up. Stromberg took us nowhere, Sharps doubled down. We talk culture, but we lay off hundreds while Rob gets another Porsche. No we outsource tech to a foreign country, while our existing websties don't work. The future is the same as the past, while the purpported cutlure is a lie.
Amen. When I got hired, I had to PROVE my knowledge. With the exception of a very quick "showing of the ropes", no one had to train me to succeed in my job. While you may be able to train people to do somethings, it will be impossible to really make these people self-sufficient and as good as those canned. It is demeaning, but apparently many of these "leaders: are from Fannie Mae, Freddy Mac, or something like that, and this is what they did there. I predict in the end T Rowe Price will be sold to another larger firm. I am working hard to get out of there as fast as I can and on my own terms. Instead of expensive advertising and their phony display of being a "Baltimore Company", they should have put forth products that investors were interested in. Now, they just look like id--ts. I have a decent amount in my 401K, and that will be moved elsewhere when I leave. I don't trust them not to destroy that too.
That's happening everywhere. It's a shame that those who made these bad decisions get to stay. Good luck.