Can the raise they gave keep anyone? I doubt very much that it can. Most people I know intend to leave and can hardly be held back by anything.
The best have either already left or are determined to leave. My opinion is that big changes are needed here.
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They don't listen to employees?..... Hmmm the upper directors and above think they know all. They are not open to new and improved processes, instead keep producing the same BS that has been done previously. No open conversations about improving things, especially with the acquisition. I applaude all those green that are leaving the blue high and dry. The blue thought they could do it without you. Go get them, innovation at Schwab is dead and will be until the upper echelon changes, no matter what they say. BTW - i was blue and saw the light
A 5% raise is nothing. It’s almost an insult when competitors are offering double digit increases to jump ship. They really can’t afford to wait to roll out serious retention raises/bonuses or they will be obliterated on staffing by year end.
To fix morale, executive management would have to care more about employees than woke political and social views. And sadly, they just don't value us more. They embrace every social cause even before asking the employees they represent if they believe in something have to share a particular view. Have you ever been asked what you believe before they organize the latest cause? Never. Just an example, masks at work... Did you get a survey to see if you were to support it? Or did they just decide and cram it down your windpipe?
They just do WTF they want without asking and think we are supportive of them. Even if you tell management how to fix morale... They don't have what it takes. It might make waves or be unpopular fixing morale, and we can't have waves.
Some managers can't be told what to do by employees. They pretend to care or give an illusion of caring, but ultimately do whatever they think other executives are doing. They have to suffer, lose all the best employees, and crash the company before they even look introspectively. Every excellent employee I know confidentially says that they are looking for better leaders at a company where they feel that their voice is respected.
Schwab needs new leadership. There's no trust in the current group. They say things that look good on paper and always seem to change their tune or flat out lie to employees
our benefits are terrible. Healthcare sucks. Overworked and short staffed.
I am a blue guy. It's starting to become too little too late. Schwabbie will be running another big company they don't know anything about on their own. But if your too big to fail, you can't really fail at it right???? I am going to order and approve Participation trophies for everyone at Schwab at the end of this month. Let's get a big blue hooray!!!!!!
It would be great when our CEO can declare mission accomplished on the deck of a Schwab branch. Just like a once great leader we had, making a similar declaration of the deck of a carrier. Mission accomplished! MI-23. Company men with bed pans and wheel chairs. Operation retirement home.
The 5% raise will keep the mediocre staff, not the star performers. Star performers can leave at anytime. There are many things that can be done. Promotion to the Director level (non steak sauce variety), give the "Distinguished" role, moreRSU and ESOP awards, spot awards, spot bonuses, a combination of any of these.