Just received this in my email. Anyone know more about it? Are they looking for easy pickings for layoffs?
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Completed the survey today, it was rather vague. Not sure how they can use it to figure out where people need to be or how many need to be cut. I was expecting to be able to type something in about my experience and background, but it was all check a box. I bet we spent a few million on this LOL
Completed the survey today, it was rather vague. Not sure how they can use it to figure out where people need to be or how many need to be cut. I was expecting to be able to type something in about my experience and background, but it was all check a box. I bet we spent a few million on this LOL
Wells has no idea what people do and who the people are.
They don't even know where we all are, I know becuase I was hired as a full time telecommuter over 10 years ago, and they still ask me where I'm at every few years.
You can blame it on mergers and aquisitions if you want, but it's just plain bad HR work and bad management that has let them get away with it for years.
On the other hand, sending survey's makes HR people and management feel like they're doing something useful, even though it's not.
My manager knows what I do, he knows my resume and he knows what kind of work to assign me.
Sure. Not always, but for the most part, I can tell who has genuine well-intended posts and who’s just trying to be an itch.
“The responses on this post make me realize that employees, myself included, don’t trust anything that comes from management. “
But you trust posts from Anonymous??
@1ton: “voluntold” is my new favorite word. I’ll be using that plenty from here on out. Also, good post on the survey. The responses on this post make me realize that employees, myself included, don’t trust anything that comes from management. Too many years of half-truths and greed and bad decisions. It shows how broken the culture is.
Honestly, this is not insidious at all. It’s part of the response to the FRB consent order being submitted in September. As part of the CO, WF has identified a current state and a complex future state for risk management, which will involve some realignment of the lines of defense. The skills survey will be used to help identify gaps for each LOB to determine where they will need to shift or augment resources. I’ve been voluntold to work on this for my LIB, which is in decent shape, risk-wise, and we appear to have some significant gaps, so at least in my LOB it’s going to lead to more, not less, risk focus. For people in Controls, I do think there’s likelihood you may get shifted into the business or into second line, but I’d think that would be welcome?
It’s odd I’m getting this risk management survey. I’m not In Risk. Risk isn’t my main focus except as it managing risks relevant to the work i do.
Back in February, the Chief Compliance Officer admitted he had been asked if he needed all these people. Someone followed up with a question of what is going to happen next . He said they were going to identify areas of duplication, keep the best people and the rest would fall out as efficiencies were his exact words. This was scheduled to kick off in March according to him, but got postponed. This is what all these surveys are about. And yes, there will be layoffs in compliance because they are also using the surveys to show the regulators the duplication and lack of skill to justify their actions. Also means some people could be moved if they need their skill set, but I would expect that to be a rare.
They will look for too many people doing the same thing and then evaluate those with the most experience, skills, certifications, education and whatnot to do the job. Whether or not they use other factors such as LOS within the role or company I do not know. Whether or not they will use D&I I do not know. Many areas of risk have duplication across each LOB by design. It would be too much for one person to do functions for the entire WF entity. They should be looking for redundancy across the support structure for each LOB though. Of course they will look to terminate dead weight. Unfortunately politics will come into play for some and some dead weight will remain while some good folks get the axe.
Tell them your an expert in everything. Then you can become the CRO which has to be an improvement from current state lol
They want to see if you have the skills to do your job
Each business group is getting skills surveys. Yes, its to determine overlap of functions and eliminate redundancy. Good luck on your responses