Fidelity should consider announcing a Voluntary Buyout Offer (VBO) across all geographies. There are numerous individuals with over 20 years of tenure in leadership roles who contribute little to no value. It's time to phase out these long-standing employees, as their departure would help revitalize the organization. Many of them focus on personal "pet projects" with no real business impact and manipulate performance ratings. Hopefully, Abby will recognize this issue and take decisive action to address these outdated practices and leadership inefficiencies.
14 replies (most recent on top)
Between the Indians and DEI incompetence, I’m ready to leave.
Please, bring on the VBO.
In the tech industry, many senior professionals come from the mainframe era. While they may have some knowledge of SQL and stored procedures, their technical expertise often doesn't extend beyond that. Their careers thrived during the height of the outsourcing era, where they typically delegated most of the actual work to contractors while taking credit for the results. However, as the industry has shifted towards in-house development, their skill set of "managing" contractors has become less relevant. Many of these individuals lack both advanced technical and business skills. Instead, their focus tends to be on networking, making superficial conversations, attending events, and socializing rather than contributing substantively.
Hey Snowflakes, get off your phones and start your own company. Us boomers made this company what it is today. We don't want the VBO as much as you snowflakes, we enjoy our work.
why would abby buy you out when she can curate such a toxic environment that you’ll quit for free?
Absolutely true. Many of them exhibit awkward behaviors, schedule pointless team meetings, and waste everyone's time. On the tech side, several of them can't even write a basic "Hello World" program.
After 23 years here, I find myself eagerly hoping for a VBO. It's clear that our group is one of the least productive in the company. Most of us attend a few calls and then move on, and this is true for many of my peers as well. Like others, I stay because finding a job elsewhere has been challenging.
Ratings at senior levels are often manipulated and have no real significance. The real underperformers are these highly tenured employees . I've also seen many comments about the leadership in India; I initially believed they were dynamic and highly productive, but it seems I was mistaken.
Maybe Fidelity should deal with poor performers individually instead of people wishing on a star for a vbo to get rid of people. The problem with a VBO is you get great contributors leaving as well. Or they should just do a layoff. The last VBO saw many excellent , skilled IT people leave.
Having worked here for seven years, I can confidently say that many individuals who have been with the firm for over 15 years are among the least efficient contributors. They often exploit the system, engage in office politics, and continue to receive increased compensation and shares. Alarmingly, many of them might not even qualify for a junior-level position if evaluated objectively. This group of "leaders" poses a significant risk to the company's future.
Good idea! Needed very much in India at least. India with a cap on payroll numbers, is extremely top heavy with Directors, VPs and SVPs not ready to move. Promotions are not coming through as there is no ‘space’ at the higher levels. More so, the higher one is in the ladder, the lesser he/she is connected to the projects. The VPs are specifically termed as event managers of the firm as their sole job seems like taking care of partner visits.
Yes, please! I am ready for it!
Just lay them off. As our dear vain old head of AI innovation bragged about his fake "Leader of Asian origin by Asian" award and the paid picture op on the time square, I was surprised to see he's still on the payroll. Thought we got rid of him during the PI split.
VBO is only for those who work in America cause they are expensive due to very high salaries. Its ok everywhere else. We dont get that
Boomers have more critical thinking abilities than the newbies. Last VBO decimated IT.
The only leadership people who would take a VBO were about to retire anyways. They don't have any skills that would translate into a new gig post Fido.