As we focus on retaining top talent, is the bank considering reinstating the discretionary 1% 401(k) match that teammates have received in the past?
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Truist and talent are two words that don’t belong in the same sentence. Truist has damaged their reputation so badly that they need to reconsider changing their brand. People who are talented and left, would never come back. Talent outside knows very well how bad it is here, they would likely try panhandling before considering accepting an offer here. There will likely be lawsuits from clients being abused. We see 75-90 year old people getting multiple credit cards or half a dozen demand deposit accounts. It’s a total nightmare of an organization. Senior leadership and up needs to be erased. Truist really messed up when they started pushing out all of the elderly people. They wanted to save money and it cost them big time. These were the people who were leading teams with knowledge and expertise. They then started putting in chronies and dui shills. This is the sad reality of what SunTruist has become.
@a7 no I don’t think that. Thanks Sherlock.
How long til the turnover on operating council happens? Who’s first?
No
@dy this x 100. Dead on.
Failing leadership is hurting the organization.
Unqualified risk guidance adds confusion, not value.
Constant bureaucracy replaces real expertise.
Knowledge should matter more than politics.
Senior RMO leadership needs accountability.
Effective advisors should understand the business.
Expertise is noticeably lacking.
Morale suffers because of it.
Action is overdue.
@dd All fires started by executives that are still creating more. CM-W has no business running a lemonade stand. BB is the same. Audit is always trying to do someone else's job. The LOB is selling assets to cover for poor performance. I can't imagine there is one bank group performing as well as they could due to abysmal executive leadership. All the while being paid for on the packs of lower comp and benefits for everyone but the executives.
Least of his concerns. The bank is imploding.
While no doubt Lyons will come in talking about “Teammates” being Truist most valuable asset he has to many fires to put out for this type issue to get priority. It will be after BillyBob is gone before he can really make significant changes.
Reinstating? Actually let's return back to that beautiful 6% we had before things went downhill
Huntington and other bad banks don’t count.
@a7 exactly. We didn’t get the discretionary last year. We had to pay for that golf tournament. Management doesn’t care.
@ag That’s actually not true I’m at a bank that only fully matches up to 3% (then it’s I think a 50% match after that up to 6).
But they also pay higher salaries than TFC pretty much across the board. So there’s some give and take I suppose.
All other banks are at 6-7%
lol you think the CEO is reading this drivel? writing your post on the wall of your nearest bathroom stall has about the equivalent impact as posting on this site.