Does anyone know the number of direct reports that you need to have as a manager now that Charlie Scharf is CEO ? I heard that it is moving from 3 to 7 Direct reports. Has anyone heard this as well? Does anyone know if there will be any official communications going out around this topic? Thanks
12 replies (most recent on top)
Please hurry up with this so my incompetent manager who manages 2 people can get reassigned or merged in to a new team.
He did this same stuff at BNYM. This was one of his first moves - along with trying to completely remove wfh & open work spaces for the sake of “collaborating” - never mind half the people I dealt with were in NY, India & the UK. & then of course Mass layoffs & forced BE ratings.
Good luck to you all at WF.
Yes, I’ve heard 7 from HR
Saul has mentioned 8 directs to managers a few times now in the "Ask me" series.
in ICS we have many trying to justify their own existence
Industry standard back in the early 2000's was 6-8. I had 16 in my industry in Healthcare in 2016. I'm surprised if it is 3...That would be heaven.
Some managers are "working" managers, meaning they don't just manage people, they are hands on as well.
Think "team lead".
Some "teams" are specialized and need a manager but maybe not 20 direct reports.
A one size fits all solution is just more top down foolishness.
That said, there is a lot of nonsense at Wells.
If you only have three direct reports, they don’t need you managing them. If that was my business line I’d quickly make that org chart flatter. Our line of business has always had span of control “rules” and there is reporting every month on outliers.
Under the CISO's org they really need to take a loop.. I know an "SVP" who has TWO direct reports...
5 is the same number my group was given.
It depends on the managers level. 5 is the minimum
8 was the number at BNYM