On a scale of 0-10 with zero being no trust at all rate your trust in our executive council and why. I’ll go first, I give them a 1. I believe they lied to us about the reasonings for return to office. Walt said he had the stats but never went over what metrics were considered nor did he provide any proof of this claim. I believe they just wanted people to quit and if you don’t have to pay them severance it’s a win win. He addressed this in his Q&A but then lied again about the Jan pushback. It was facilities who told them it was impossible to be done in that time frame not because he was being kind. What a joke! Do they really think we buy this garbage?
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Culture is for yogurt.
In ten years folks will work with VR headsets. They’ll have AI bots handling minor items like timesheets.
Have a reason to get together? Get on a plane and get together!
Otherwise it’s a bunch of stressed people who paid $50 for parking and gas and wasted two hours of their life. Just today.
As for the EC? Never trusted them. This is a generational group that thought a former wrestler would be a good replacement for Chuck. And Chuck thought Trump was a good investment for his personal funds.
They’re all business. And for the occasional win there are so many failures. What was that acquisition that Schwab bought and then sold? (Hint, there are many)
Perhaps the better question is does the EC even care what we think? Remember, they touted how many more applications we are getting now for every open req…50% more I believe.
Z E R O
Six. I know most of us feel they have done us wrong, mishandling of RTO and anxiety caused with pending layoffs, but I am sure this is not intentional. RTO is really an industry wide trend now. We can't totally fault the EC for that. Layoffs always cause anxiety. I would just say hold out, and enjoy the paychecks while you can, and when it happens, it happens. There are worse executive boards, that have been truly evil and uncaring of their employees. I don't feel the Schwab EC is there, or anywhere close that, with intentional malice. Six out of 10.
0 for all the points @rzm+1p6NAZF6 mentioned
- That's it. 0.
Depends on whether the rumor of them announcing layoffs in July in a botched attempt at boosting stock is true — 2 if it isn’t true, and 0 if it is.
ZERO
0 - I can’t even begin to describe the disdain I have for the EC and their little lieutenants, but the major points have been discussed below.
Zero. This is not leadership and they know it. And lying to everyone’s face by saying they hope attrition is minimal after announcing layoffs. They’ve proved that they are mean spirited like someone pointed out earlier. They are ruining any notion of Culture and ironically trying to force people back in the name of culture. And they deflected on addressing the dip in engagement scores. I really thought they were different when they forfeit their bonuses during the pandemic. But obviously that was an act too.
Muh diversity
We just did this thread the other day
RTO is needed! How else do you think you’re gonna install tires? Over Teams?
@rzm+1p6NAZF6 You nailed it!!!
0 - Rationale (in no particular order):
- Bond fiasco with zero accountability (except its the employees paying the price);
- Dishonest rationale and poor execution of RTO and layoffs, with dishonesty in layoffs being top down when in reality no one from "the top" is impacted;
- Inability to strategically plan long-term;
- Endless decisions/actions made in knee-jerk/reactionary mindset causing constant chaos and uncertainty;
- Culture of layoffs since 2018 — every 2 years with EC citing practice as "financial discipline" when it is really evidence of #3 causing job insecurity and low morale;
- Zero concern for employees (only concern is for shareholders) - vacation/PTO pales in comparison to competition; meager pay increases or cost of living adjustments in salary making each year more difficult to "own one's tomorrow" when it's harder and harder to even own a home;
- Condescension and contempt when employees ask simple questions or provide honest feedback; dishonest messaging;
- Choice of CEO successor;
- Absolute lack of diversity in EC and senior leadership and anger when this is pointed out;
- Refusal to report pay gap stats to EEOC (a bit telling) and company does not hold earnings calls;
- Profits go into the pockets of the EC - not back into the company to upgrade technology/systems, provide better benefits/pay to employees, etc.
“Culture”?
I hate this excuse. Everytime I’ve gone into cube city it was quiet, isolating and just whispering on video calls because every conference room was booked by someone to work quietly in a pseudo office. If you’re team is like mine where no one is in the same geographical location (with a good team culture) then going back into the office will do more harm than good.
It’s about control. Confidence is 0.
I'm mostly ok with the RTO stuff despite the missteps. I think Schwab eventually needs to come back into the office in order to maintain it's culture but I agree the rollout was mean spirited. I think the layoffs have been beyond stupid. No reason to announce months ahead like they did and then lying about the reasons for making the early announcement is insulting.