Doesn’t matter if you’re in STS, CRM, CSS, RPS, etc the whole system is built to benefit the top and treat everyone else as disposable.
Leadership knows exactly how toxic it’s gotten but they just don’t care. As long as the stock price stays high and they keep getting richer, nothing else matters to them
Bumping from @43w+1k9ze46kn for being 100% on point.
@bv I always find it amusing (not in a good way) that no matter how hard you work, a 3 is the best most will ever get. You are told "but it's a 'high 3'" … doesn't mean squat when it's tied to raise level. On the other hand, if I score the company a 3 on that stupid Glint then I am a "detractor", not "toeing the line" and should probably be updating my resume.
@ar I will say that more than a decade ago, Schwab did work in the best interest of its customers/clients. Schwab didn't sell sub-prime loans prior to 2008 because they weren't in the best interest of its real clients and Schwab didn't accept TARP, and layoffs were rare. In fact, when the company laid off 2,000 employees between 2001 and 2003, Schwab expanded severance and transition assistance, created an education / retraining support program for laid-off employees, partnered with universities and training programs, and covered tuition assistance and retraining costs for many of those laid off. Today, the "clients" are the largest shareholders - those who sit on the Board and approve the EC's comp. CEOs are now simply hired to extract value, not build companies or provide "best in class" products and services to customers. For example, in Rick's recent interview where he seemed to be critical of prediction markets, he stated that Schwab won't offer them … unless they have to from a competitive standpoint. Not, if we determine that it's in our clients' best interest to do so, but if they need to keep up the stock price for the largest shareholders. And those stupid Trump accounts are awful for this country. They are a backdoor subsidy to financial institutions who will collect the fees. For the American people, they will weaken social support systems like social security, public education, and universal healthcare. It's a benefit only for the wealthy who will have yet another vehicle to stash funds in a tax-advantaged account vs. those who won't be able to afford additional contributions and who will likely need to use the nominal funds earlier than "retirement." Baby bonds are 100% better for the country - they're progressive vs. regressive as the Trump accounts, results are guaranteed and not tied to market performance.
I noticed a dramatic drop in participation this year. Is it just my perception, or have a lot of people just given up? It feels like no one is speaking up anymore, but just mind their own business, being afraid of being laid off.
I hope I just imagine this.
All of the boomers on here will tell you that you are fortunate and should be grateful for the opportunity you have to work for a company, blah...blah. The reality is that none of us matter to any company, and none of us have ever mattered. The entire system is built to keep us indebted to, and dependent on, corporations. I consider myself politically very conservative, and I am not afraid to admit this. America was sold out long ago. We haven't had a true free market economy for at least 50 years. Everything that is done now is done to enrich corporations and political leaders. Banks and financial companies are some of the worst exploiters of the American people in existence. As long as we are indebted just to live, we can't ever be truly free.
It has become a bloated joke run by empty suit, arrogant millennials and the old establishment that has no fresh ideas.
Too many MDs. Just look at the layers of MDs and waste. Directors end up performing the work and most “strategic” efforts are initiated bottom-up as well.
A firm doesn’t need 4 layers of MDs, it’s a poor org design that drives miscommunication and inefficiency.
The culture didn’t rot on its own but it sure does reflect who’s benefiting from it.
They REALLY fu---d the culture this year.
I’m normally the type to be actively engaged, but currently I’m anything but engaged and it su-ks.
I could add value but have been beaten down to a point where I question if i should try to innovate or just go along to keep the direct deposit going. I could give 100%, but it’s less mind numbing to give 50%. I’ve never felt so capable of more than the current culture allows me to give.
I could jump ship and would likely make more, but I really do enjoy working with the team I’ve been fortunate enough to work with.
There's a reason Schwab says through the client's eyes...somehow forgetting us employees are also clients and shareholders.