I work on insurance side but was told 300 people in the bank have been targeted. They have one week to resign and take severance OR wait, reapply, and see if they get selected for a role. Supervisors and Managers are being demoted to RA roles. Some Managers are gone. Company has no loyalty. With these decisions it’s time I move my 10 policies after 30 years of being with the Farm. The powers that be now have no clue how to run a business.
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The decision to opt in or out are required today.
Probably won't be who is best but who is the cheapest who gets selected
There hasn't been a single re-orged department yet that ended up with the best people. They seem to be eliminating good and bad employees in equal measure.
I would count on the new leadership being as inept as the old leadership.
@SI2FUe7-lop - If the Bank selection process is anything like Proximity Fire was, you will not end up with having the best candidates when this is over. Proximity fire decisions started off based on Geography. Seriously, not job performance, or customer service skills, geography. And the geography was based on territories made up by someone in Corporate. If you got the opportunity to opt in or out, you were competing against other people. Those decisions will be based on a drop down screen the optee fills out, with no input from management. No interviews. I am glad to see that you still retain a naive hope that the right things will be done to make the Bank successful into the future, but that isn't going to happen. We have the wrong leaders to make any of this successful...
As one of the affected managers in the Bank’s structure study, I can confirm that we have been provided with very limited information and a short period of time in which to make our decision if we opt-in or out. I’m hearing that the Director group has learned of their fate last week but have been told not to share how it’s shaking out until after the decision date because executive leadership doesn’t want that information to influence people’s ultimate decisions. What?! I don’t necessarily care about which individual has been chosen for each specific role (because basing your independent decision on reporting structure is silly as that can change again very quickly) but I would like to see how much change is being made to the different areas. IMO there are plenty of ineffective management in place who have gotten to the level where they are because they are either “yes” men or they have good presentation skills, but no real banking business acumen. I really just would like to know if the new regime is wise enough to smell these folks out. They call it a competitive selection process but we have no idea what information they’re using to base their placement decisions on or who actually is making these decisions since most key leadership has now either been brought from the Enterprise or recently in from the outside. I don’t know why leadership wouldn’t want to provide more of the pertinent details so everyone could make the most informed decision as possible. It’s a big life decision for many of us and we’re left guessing or we fill in the missing information with the best informal sources we have throughout the Bank; i.e. the rumor mill. I agree that change is needed in the Bank but not sure this is being handled very well, there should be some degree of interview process involved to ensure we’re putting the right pieces in the right places as the next few years could prove vital to the Bank’s ultimate survival.
The bank has never had the support of Agents or Agent Staff. Heck, many people still don’t realize we have a bank because the Agents and their Staff do not promote the bank like they are supposed to. I work in the bank and my area was already layered. I got layered. Currently, I am one of the three-hundred employees that has to decide if I will take severance and leave or stick it out hoping I will get one of the jobs. We have been given little to no information to base our decisions on.
The bank was ran on speculation on growth but they put insurance people in charge instead of bank experts. The bank needed to downsize and stop paying mortgage consultants a commission for doing nothing but a glorified processor position. The MCs didn’t sell so no reason to earn a commission for business the agent submitted. I think the new design is warranted. I’m sorry for the job loss but the mcs don’t want to opt into an ra2 or ra3 position cause they want their unearned commission