Thread regarding Wells Fargo & Co. layoffs

Instructions for internal vs external hires?

Is anyone else getting guidance from their managers, or HR, to prioritize external candidates that have not worked for wells in the past?

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| 1841 views | | 15 replies (last April 2, 2024) | Reply
Post ID: @OP+1rH2GuaS

15 replies (most recent on top)

"Of course, anyone that points out flaws in a new approach is immediately targeted as being "resistant to change". It's to the point now that I sit back and enjoy the fail. "

So so so sad.... but true. Seen it many times in my few years here.

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Post ID: @9xad+1rH2GuaS

Probably to sc--w and fire external candidates and to provide a much shorter tenure and therefore much less severance or bonus. Fire the managers who keep sc--wing people over.

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Post ID: @2mpz+1rH2GuaS

All the toxic & abusive managers are still working here, so the talent rotation of hiring externally isn't working.

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Post ID: @1fil+1rH2GuaS

It depends on the group and who comes in. Lot of change in my area and newbies keep making the same mistakes as previous leadership simply because they don't know it's a tried/failed idea. They think they are doing new innovative stuff. Sometimes things are done how they are for very good reason and it took a good amount of evolving the process to get there. Of course, anyone that points out flaws in a new approach is immediately targeted as being "resistant to change". It's to the point now that I sit back and enjoy the fail. It's clear that executive leadership wants things to function this way, so, ok. Their choice. Wouldn't want to slow them down with my baggage.

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Post ID: @1gxj+1rH2GuaS

Sorry the institutional knowledge is overrated.
Internal hires are bringing a lot of baggage and sometimes we want to limit that. Sure, four transfers from different teams might not be an issue but when buddies and friends form their fiefdoms, we need to be careful.

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Post ID: @1yha+1rH2GuaS

@ami+1rH2GuaS

That's not how real life works. If you don't hire the internal person, they just leave the company anyway to go to another company to do the job they want to do, so you're often replacing them either way. The only question is, do you get to keep any institutional knowledge or not.

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Post ID: @sjh+1rH2GuaS

@hxx+1rH2GuaS

Spot on. These managers froth at the mouth seeing the bonus pool. It's a joke. One year of hostile working conditions all over a bonus.

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Post ID: @irk+1rH2GuaS

I am surprised any external people want to come to wells. Doesn’t have the best reputation on the street now and they are limited to hiring in only a few locations.

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Post ID: @sbq+1rH2GuaS

Harder to find external talent in time to fill roles even if there is preference

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Post ID: @azd+1rH2GuaS

Additionally if you hire externally you don’t end up with grandfathered in trash. So many who have worked here over a decade are so bitter and disgusting to be around.

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Post ID: @djl+1rH2GuaS

Yes, and it’s been that way for over a year. If we continue to hire internal all we are doing is creating a circle of rehiring. We hire someone from X department and then that department has to replace X, so they hire from Y department, now Y has to replace, so they hire from Z department, etc., creating a circle of never ending postings and hiring. If you hire externally for the role, that doesn’t happen and you also now hire someone who has less years of WF experience, which if laid off later, creates less severance due to the lower # of years with the company.

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Post ID: @ami+1rH2GuaS

“HR has no juice or seat at the table and is rarely part of a hiring decision”

The best recruiters do.

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Post ID: @ytd+1rH2GuaS

@hxx+1rH2GuaS
Interesting.. how does it work out that way?

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Post ID: @lby+1rH2GuaS

HR has no juice or seat at the table and is rarely part of a hiring decision - unless something went wrong with the process. Hiring managers quickly learned with the new compensation philosophy around TVC/bonus and budgeting… they get more money in their bonus budget when they hire external candidates.

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Post ID: @hxx+1rH2GuaS

….,it wouldn’t surprise me!

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Post ID: @iql+1rH2GuaS

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