I heard that technology will be the only org allowed to have contractors going forward.
Tech Contractors assigned to projects are being released now where budgets were reduced. We’re allegedly allowed to pick them back up as project budgets for 2021 are released. Those budget are taking heavy duty haircuts, so there will probably be many fewer contractors as a result.
I agree with many posts here. Teams have hired many contractors over last few years and many of them don’t have any work, can’t blame them entirely. It used to be that exceptional contractors were hired as fte’s if possible. Last few years they were just hiring anyone saying it’s hard to find tech folks in hubs etc etc. every team has at least 25% that can be jettisoned, just in tech. Some teams especially risk n compliance tech have hired numerous contractors just to spend $’s. Senior mgmt apparently told them that they were only spending 5% of their budget n Since then the new mgr went on a hiring spree building her team. Since they deal with risk/regulatory work and their mgmt is good with spending, they have no issues even now hiring. On other hand many teams will loose hard working team members and some are working their asses off doing 2or3 fte’s work... Some of Saul’s directs are cost conscious but some are only big on building their teams, of course their work is “risk/regulatory”. Saul should ask what is it that the team is doing now that they weren’t doing a year ago (Or even last 5yrs) that would justify the 300-500% increase in resource spend for these teams. Of course sr leaders like Saul depend on his directs to do this but if that individual is the one who supported this in the first place... Nothing special to Wells, happens everywhere but in times of expense reduction Sr mgmt should go down beyond their directs and see what’s going on if they really are interested in cutting the wasteful spending and keep hard working employees.
@2dke - We had one reach their 2 year limit this week and two more next couple months. One SOW stateside and two EGS will no longer be retained by end of year.
@2kwv+17jxAGb7 When?
I work in tech and all our contractors including SOW are getting let go, here and EGS.
gimme a break with this contractor nonsense. my team had FOUR contractors and TWO FTE's... For What? TO JUSTIFY MY MANAGER'S – a 20+ year retirement age person – existence. no other reason. Now we are down to two contractors and two FTEs. we could easily dump the contractors who do nothing more than busy work disguised as value add, and to allow my manager to "attend meetings", and to announce herself, interrupt people to pretend to ask questions so that everyone knows she is there.
dont even get me started on the fact that the manager is a retirement aged female and ALL of the contractors were/are middle aged females.
people like this are the reason this bank is in the state it is in
These comments of time off remind me of when the bank asked vendors to reimburse bank for fees paid on work completed...about a year or so ago. Some were customers. It was in the news.
Plenty of contractors in ICS... Was one manager in particular who moved a contractor over to "MRA work" to try and protect the contractor from getting cut. What does the contractor do? attend meetings, take notes, help the manager do their job so the manager can do other things.
Our team has to cut all contractor by the end of the year. No FTEs have been let go yet, but we do have some dead weight we could easily jettison.
@kfx+17jxAGb7 I don’t think so. The contractor I work with had 3 days left to take when they told him he needed to take 10 days. He checked with his manager to see if he would need to take just 10 days or 13; and they said just 10. This persons contract ends on 12/14, so it is a significant financial hit to him.
Re the below post—depends on where you are. In my area almost all FTEs I work with started as contractors. Ultimately, just look around & ask around. Are MRs in your group being hired on full time or no? Especially the higher performers. Even if there are fewer options right now you can look over the last whole year -there should be a trend one way or the other.
@oer. I was a contractor in 2015 and came on as FTE in 2017. I was told to my face unequivocally that contractors do not get hired on as FTE, don’t expect it, won’t happen, no space, see ya later. Even back then they were cutting contractors near the end of the year, didn’t back fill FTE slots with contractors we had on staff already, etc. WF leans toward a generally hostile environment to contractors I’ve seen.
@oer+17jxAGb7- it really does depend on what org you’re in. I’m picking up that any changes for the rest of Q4 have already been made, but yes every contractor (MR) needs to ask about the required holiday furlough. In areas I know it is either 2 or 3 weeks in the quarter—not including the 4 holidays WF is closed. As contractor you should always keep your network active as things can change fast for MR’s.
Also, with pretty significant cuts coming for the FTE, it may not be a pleasant environment to work in seeing a good number of people in your team gone by end of year. If you are looking to be brought on full-time, you should keep these things in mind and depending on your org. there could be hiring freezes for awhile. Just my two cents.
It does not sound like a very good environment for contractors. As a new contractor, should i run?
@ggb+17jxAGb7 This has been going on for years. They didn't disclose it in the employment contract before imposing it. Contractors also must wait between contracts. It takes weeks for them to get back on their team, all unpaid.
They are getting rid of contractors to see how this Agile will work out with FTEs. They are checking the ratios to see if they need to get rid of FTEs OR hire more.
We're down from 4 contractors last year to 1 remaining contractor who looks less and less likely to be extended.
We haven't been able to replace any of the contractors who timed out. Once our last contractor is going it'll require shifting FTE's to cover odd hours and weekends. Kind of ironic since RaRa made it a point on calls last year to note that they wanted FTE's to not work evenings and weekends.
We lost all of our tech contractors. Heard getting one in requires Sauls approval now.
: @ggb+17jxAGb7
Is that on top of the other 10 days they already had to take?
I know a few tech contractors who have said they received emails stating that they have to take an additional 10 unpaid days time off between 9/1-12/31, on top of having their contracts having their contracts ending earlier. There is a mad dash to get a lot of critical IT projects done before the contractors are done