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Its not in the budget to improve employee morale.
@ck I don’t believe the senior leaders at Fiserv are humble enough to ask knowledgeable former employees to return and help get the company moving in the right direction again with clients. They won’t open up the checkbook unless it’s for their senior leadership team. When I left, not one member of leadership asked me to stay even though I had a great relationship with clients.
Morale will improve when we have associates - SVP, VP and all the way down that KNOW Fiserv and the Product! Fiserv needs to bring these people back that clients know and once helped make Fiserv great.
More head count in India
It can't. It is really no longer the company's responsibility. AI is literally your replacement regardless of what you hear.
Why would the company want to improve moral? Every employee that gets the hint and leaves is future severance saved. A reduction is salary expense today and severance expense tomorrow.
@ah stop giving ideas to the already overpaid execs. Most employees I know could put together a more detailed, actionable plan for improving the current state than what’s actually been implemented or talked about in these town hall by entire leadership combined. The question isn’t “how do we improve,” it’s “why hasn’t any of this happened yet.”? If I were given even a fraction of what they’re paid, I’d be sleeping in the office until things actually improved. And yet the mantra is “I don’t have a magic wand” — but with a $15M+ incentive, more than most people could dream of in a lifetime, if that’s not enough to wave one, what is?, Honestly, it doesn’t feel like morale is even on the radar except they’re all just aiming to become the next CEO
The reality is that you never know when you walk into work if it could be your last day. We hear in town halls that there are no plans for layoffs and that the company is growing, but many of us have heard those same assurances before.
With the second quarter coming to a close, it's fair to wonder what comes next. Will the message remain the same this time, or will we see more staff reductions and even more work shifted onto the people who remain? Then being told with less coworkers your not doing enough, why dont you know this, why are you asking me questions on how to approach something, pick up the speed, read the documentation (that hasnt been updated in 8 -10 years), your going to be listed as needs improvement. I think its a little late in the game to talk about morale.
Not Likely
1: Leadership needs to realize that 90% of employees don’t give a sh-t about the stock. Stop talking about it all the time.
2: At least ACT like we have a strategy. The same talking points we have right now were there at the height of Frank and STILL don’t have any meaningful, tangible initiatives behind them. Project Elevate is a great example, when asked to his face what is a single example out of the alleged thousands of ideas, our CFO can’t give one.
3: The VP and up roles need to drop by about 50%. We have so many “leaders” who don’t own anything and can’t tell you the first thing about their own area. It frustrates the clients coming to them with problems and the workers who just get blindly forwarded and email and then have a brick wall thrown at them when they try to be-doverbackwards to help the clients. Use the extra money to give meaningful raises to the folks keeping this place alive (99% of which is director and below).
5: Fire Shrini and actually invest in the fu--ing infrastructure. Our stuff goes down CONSTANTLY and even when it’s up, it’s slow and buggy. The shoestring hardware barely chugging along in our data centers is a nightmare to work with and not scalable when we actually try to do anything interesting.
Finally, don’t ask for workers to do more, stop speaking down to them. Admit that leadership has let THEM down and then buckle down and actually do the work. Create a plan, don’t just throw AI at the wall and see what sticks. Create a real way forward and then MANAGE, breakdown barriers to work, streamline the process so your folks can do what they can and WANT to do. Fiserv is still the best positioned financial services company for their core client base and has one of the most capable merchant systems (if we can get of our own way). Fiserv could deliver the most comprehensive set of services for all but the absolute largest banks, but we need to ditch the nepotistic hiring and useless “yes men” pulled over from JPMC and focus on the actual product development, delivery, and operations of our services.
Morale has been permanently damaged. Stock price is reaching new lows daily. Cost cuts are being felt by employees in the form of uncomfortably warm/smelly buildings; reduced server resources; lack of raises for the hardest working employees; etc.
IMPOSSIBLE