I wonder if everybody who wanted to leave on their own term already have done it/submitted resignation/are about to submit resignation? In my area, for some reason heavy voluntary attrition is going on in India teams. US folks are still sitting tight. I personally know that 4 people are actively looking.
As it was stated yesterday during global town hall, it is again middle on the year - are there folks who are waiting for year-end bonus 2022 and decided to wait for it and then start looking for ways out?
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24% turnover rate at WF. Right in the “new” DE&I report. That is completely unsustainable and likely is going to create massive problems down the road.
Control is bleeding people, many of whom are all going to the same place. Almost every week now another Director+ is going.
High performer here….coasting.
There is quite a bit of attrition a Ross ask departments singe teams are solid others not so much. I've looked at the data both severance, and general terms (can't tell voluntary from involuntary except for layoffs) and its been at a much higher rate than before covidbat least. Lots of turnover in both India and the Philippines, but they are restaffing at an insane rate. 31k note in India, 11k in McKinley. There are even 106 employees in Shanghai!
Problem is the ones they want to quit (high paid, low performers) won't, and lots of great talent has left for much greener pastures (very underpaid).
Not everyone who has stayed are cr-p employees. Some if us are introverts who do amazing work but are terrible at interviews. I frequently do better work and/ or have to correct the work of people who were promoted over me due to their amazing interview (bullsh*ting) skills. I know it's mental, but even knowing I do quality work, I start sweating and go into full blown panic mode during interviews. I hyperventilated in a mock interview with my former manager who tried to prep me. They promoted me even with my terrible interview, but I'd literally been doing the work of the higher position unpaid for several years by that point. I came in at 71% MRP.
All the jobs I've looked for offer only a fraction of the PTO I currently have, which I find more value in than higher pay.
Kinda comical, but is getting fired really now you want to begin retirement? I guess you’ll get paid until they figure it out?
@juk+1gVSKMq8 .. Wow .. So someone from RMG is here!! Hello my fellow friend!
Attrition is extremely high in every area. The folks who are leaving were the one who were supposed to stay and one who stayed/stays are the one should be quitting. I know lot of folks who are nearing retirement and hanging onto to the rail ...
Retiring soon. They don't know. They'll find out when they figure out that I haven't been at work for a while. No idea how long that's going to take.
Architecture has been hit hard with people quitting, retiring or changing roles. The ones left that I know are in late stages of interviewing and have many applications out, or are near retirement. Morale is extremely low, a lot of it due to so many JPMC management buffoons. It's a question of time. My worry is a bunch will leave at once, vs the current trickle.
I'm sure software engineering is experiencing the same.
In my group we had 49 leave, and 24 new hires. It's taking up to 60 days to get a recruiter assigned when you want to hire for a position, because there aren't enough recruiters available to deal with this level of attrition. A lot of those leaving are definitely not the ones WF wants to get rid of. As for moving positions overseas, that's great, but it seems even in India and Philippines, I've heard that pay has increased so much there due to inflation that we're seeing high attrition there as well. A friend who works for another company (KPMG) told me they've had so much attrition in the tech sector in India that they even tried to hire in Mexico to replace them, but they're seeing same problems in Mexico (as the tech sector staff there are ALSO leaving for better pay).
We have someone retiring by year end. Told they will not be replaced.
We have someone leaving and the word is they don’t know how long until they will be replaced if ever. It’s not like our team was large to begin with, so more work for us overworked folks.
Attrition is happening and even key positions are not being backfilled, so I guess that was the plan.
My entire team left in a 3 month window. It took me a few more months. Nothing like being the last person to leave, that was depressing.
Leaving soon as well .. I am currently above midpoint (when we had them) and getting a 73 percent boost in TC
My last day is tomorrow, and I've been looking since November. Many of us are looking to leave, but are being selective on where to go, and in some cases, the interview loops are months long.
I'm going to a FAANG and more than doubling my compensation. I know of others wanting to make the same move and are starting to look now.
I also know of others who are comfortable and have no interest in putting in the work to interview well and double their compensation. At least not until their particular job/area starts feeling the pain and heat I was feeling.
But in the end, almost everyone I talk to isn't happy unless they are a new hire with the new hire energy and honeymoon phase still in play.
In my area of tech we’ve had 11 leave since late February; all but one gave RTO as the primary motivator.
I’m 18 months from full retirement and planning to slog along until then.
3 out of 6 in my immediate team have left and one of our managers. That’s just this year. I know the other 3 of us are looking.
Management has repeatedly pointed out that voluntary attrition did not occur a the rate they predicted and were striving for. Everyone who insisted they were leaving as soon as they got their year end bonus earlier this year or once RTO kicked in were bluffing.
It's no surprise they are doubling down on measures that lower morale. They need to drive voluntary attrition so they're not stuck paying out severance packages.
Very few leave my marketing group on their own volition, and those who do are quickly replaced. The IHA is the place to be if you are in marketing.
From what I can see, everyone who has any kind of career ahead of them has already left. These would be the "A" players and "B" players. Also people who are young enough to not have a concern over starting over someplace else.
The people who are staying are either "C" players, or are those who are coasting towards retirement. Neither of those demographics are going to go anywhere voluntarily.
We get a new hire every so often, but they haven't been sticking around very long.
It is beyond stupid getting downvoted for answering the question. I guess I am supposed to lie and say that people on my team are leaving in droves and ignore that we have actually on boarded new employees.
Nil
Attrition has been pretty much non-existent
I accepted a job offer outside of WF on Monday (30% salary increase plus sign-on bonus). Between background check, dr-g test, etc. I won’t be able to start until end of June so I have to wait to submit my 2 weeks notice, but I’m really looking forward to it. I know of at least 3 other people on my team in various stages of looking/leaving.
tl;dr: Attrition is happening and people are still leaving for much better gigs.
@elx In March they’ve paid 2021 bonuses.
2022 bonus? Those have already been paid out in March.
RMG has people leaving left and right.
Just as our HR is backed up, so are other companies. My team of 6 have 4 openly talking about where/when/what they applied to with a pact to help each other once any get out.
I don’t think you’ll see a big outflow at once like after bonus but more here and there outflow. Waiting 6+ months for a bonus is not worth the downward spiral people continuing to leave over the same time will have on those left.
If you are in the bay area, the comp outside would not want you to wait for the paltry WF bonus..