I am most likely leaving Fiserv in the coming weeks. I’m in a sales position (cards) and wondering if anyone might be able to answer a few questions.
Former bank sales here. I left a few months ago. Not only did they short me on many of my sales, they transferred my accounts immediately so there was literally nothing I could do.
Maybe you'll get lucky. Prepare foenthe worst with them though. There are shady AF.
Employee income based on self-reporting rather than actual results. No way that could backfire.
Trust me no sales folks are hitting hefty paychecks these days, the new comp plan has removed most of that. Now you are pegged into a capped structure based on how many calls you log or how many times you log into their cr-ppy dashboards.
Our sales comp plan is flawed and doesn't match our profit margin goals. We're losing money on deals due to unrealistic revenue projections and low-balled expenses. Sales teams earn hefty commissions while other units face layoffs, leading to underfunded and undeliverable deals.
Yes the new sales comp plan, basically a cap on your earnings and a pay decrease. This is of course after they’ve made service the sales Reps responsibility with absolutely no control over that team. What a joke to think this is sustainable long term. Many seasoned sales execs and rm’s will be exiting in 2024.
That's IF a comp plan was signed. There were quite a lot of missing or outdated agreements in a recent audit. It was downright embarrassing how unorganized Fiserv was with maintaining/keeping/tracking these documents in one HRIS system (Workday). It's all piecemealed together from Teams, emails, old share drives, scans, and hard copies. I have witnessed managers not promptly enter termination transactions into Workday and the associate keeps getting paid.
The comp plan you would have signed earlier this year is very clear....you have to be employed when they make scheduled payouts or you forfeit the pay. Doesn't matter when the comp was earned (before quiting), you won't get paid.
Former menial HR for GBS that supported sales. We would typically have access to client and contact lists terminated asap along with closer monitoring emails/files that contain such info. There were a few instances were associates emailed or downloaded lists and we sent a cease and desist. The associate would be terminated that day but would have a 2 week non-working notice. Really depends on how much they trust you and what valuable information you may have. Regarding payout, request a copy of your Sales Agreement. If they are unable to furnish it, and withhold pay, that is a potential lawsuit. Nothing was in writing either way so payment would be due. Make sure to get this in writing.
If you can, wait until bonuses are paid out.
My experience is when you submit your 2 weeks notice they will cut everything that they legaly can. They will not pay any performance bonus, commissions etc with reasoning that "somebody" complained about you... Thats why a lot of people submit their notices after the bonus is payed.
I’m in the same boat, holding out till year end to get my comission. This environment is insane with very little internal support. I never wanted to be a service tech which is what my job is turning into.
Do you know of someone that quit and that was their experience or is that speculation?
Yes.
No.