Great f—ing job Kelly King! I hope your end of year bonus is huge! You deserve it for firing as many people as possible to try and save your a–! That's how this goes, right? The rich and powerful use the little people to take the fall for their messes.
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Well...it has been nearly two years since the merger announcement, and we remain contract workers with week to week job security. There is a frightening lack of teamwork and cohesion around our path forward, with the only clarity being a gulf in culture that prohibits effective team building. The job uncertainty is causing severe strain, and our highest performers are leaving one by one. Oh, and the only real concern shown by executive management for their employees is not their welfare or job transition - it is how they can lay off more of them and faster to raise money for a new bank that literally has no strategic direction. All great ingredients for magnificent morale!!!
Think morale is bad now, wait till new pay, bonus and equity plan is rolled out.
“You ain’t seen nothing yet” as the song says! High performing managers and “teammates “ will be expediting exit strategies. Brain drain will be real. Get ready, the worst is yet too come.
Return of “the good old boy network”, it never went away. It may be getting worse but it has NEVER not been in effect!
Morale? I am not exaggerating when I say as a manager, I look in the mirror and honestly feel guilty about working for an organization that treats its employees with such obvious contempt. I assure you, the closer you are to the decisioning process, the more you realize what is happening is simply not moral on any level.
When I listen to Kelly King’s “uplifting” messages, I feel sick to my stomach. All the other managers that I am close enough with to share my concerns, feel the exact same way. This is not just a mess, it is an immoral mess. I agree with other posts, selling your soul isn’t worth this - I am working on an exit plan.
When a business is failing and in a tailspin, there is more work to be done by the few that are left. Stress levels increase exponentially. This brings out the worst behavior. Depending on your location it will affect the timing of the layoff. Do not think because you were not laid off but someone else was at a different location means you are safe. When a company is downsizing there are several factors in how they do it. First, they will eliminate contract labor that is easy. Next, they will start preparing to lay off staff in different locations and/or geographies. Some states have thresholds on the size of the layoff. If they do not exceed that threshold, they do not need to report the layoff to the state. No, it is not if you get laid off, but when. Upper management starts to maneuver themselves into prime positions before they screw everyone else. You might call this the return of the “good old boy” network.
The post above is a spot on deep dive analysis of the current situation. The politics and infighting are incredulous. Almost seems welcomed by upper management. Survival of the fittest? If this is the way new bank is going to operate good luck with that!
Morale falls into two categories at Truist - a) the top executives eagerly awaiting their lucrative “stay bonuses”, and b) almost everyone else, who are miserable and looking for a way out.
What is fascinating (and different) in this merger, is that high performing managers and employees are treated every bit as poorly as middle of the road performers. Performance means nothing here, it is all about dirty politics and survival at this point. The only people who aren’t saying it, are those that are scared to. Speaking of my group, and the other managers I talk to, it has gone past trying to fix the situation, and moved solidly to working on exit plans. I am also someone who has been through multiple major mergers - all I will say is I have seen nothing like the employee treatment in this merger - it borders on intentionally cruelty.