Wow! What a quarter. Fiserv employees and exec leadership have much to be proud of. We also appreciated the thanks shoutout from exec leadership on the call today.
But...there's something "we" need to say. I write this without input from Fiserv employees as a whole but I think an overwhelming majority would agree with what I'm about to say. (Just check the up/down votes on the bottom right.)
While you may think Fiserv employee morale is headed in the right direction based on recent survey results...it's not. Most people are afraid to be honest in the YV survey for fear of retaliation or think that their comments will be linked to their name. People are leaving in droves and there are constant layoffs. In addition to this leaders keep changing processes without a thought to downstream impact. Most people can adapt to change with proper communication and well thought out new processes but with most changes, teams now have to scramble to deliver. As a result, employees are so tired and getting burned out. To top this off we have required RTO and monitoring software. People now live in a fear culture at Fiserv. Fear breeds unhappiness. Unhappy employees lead to unhappy clients and you get the picture. Exec leadership approach to managing a Fortune 500 fintech company is archaic, at best. We live in a time when most families are struggling financially. We don't all have the luxury that our senior execs have with regard to assistance...meaning we can't afford to hire people to do our normal household things or run our kids from one thing to another. During one call, Guy mentioned how much he loves his commute into the city. That is not reality for the majority of Fiserv employees. Most would choose to have that commute time back to spend with loved ones or honestly on getting more work tasks completed. Time is finite and precious. Frank should easily understand this perspective after overcoming cancer and having a family. People are not adverse to going into the office but when you start looking at badge swipes and dictating when people have to be in an office it feels very "big brother" and a distrustful environment. Trust your employees, give them the power to manage their schedules and I guarantee you will have a happier, mentally healthier, more productive company.
12 replies (most recent on top)
When I left there were 40,000 people working for Fiserv. 2 months after that there were 37,000. How many are there now?
@yfe+1hVFk7ww Thomas had never seen such bu-----t before.
Congrats Frank and Senior leadership you fired over 10k employees. Pat yourself on the back.
Frank is a whiner and a winner. I guess whiners really do win sometime.
Totally lame post OP. Whiners are never winners. It's a simple fact. Results win and yesterday we saw results.
OP is spot on. Bravo. Upper management is isolated from the work more now than at any time in the company history. There is no feedback loop. No communication upward. Your Voice results were dismissed. Barely over half the associate population is proud to work here. Communication and change control (or better lack of) for all the new initiatives...from flip flopping vaccine and RTO mandates, to steamrolled network and security changes are leaving associates battered and disengaged. Work loads are ramping and average associate knowledge is decreasing with each departure...forced or unforced. But the world view is sunny from 1 Broadway...pat yourselves on the back for inflation and a four-leaved Clover.
How do we let the investors know what is really happening here.
The dishonest practices.
The lack of leadership and no announced vision.
First Data folks prejeduce against Fiserv.
Customers need to know that their money is being handled more and more by folks living in a impoverished nation that supports Russia. Not secure at all.
That unqualified folks are being trained to work our operations. I should attempting to train.
The brain drain is so bad P24 projects are now years behind.
The investors are this companies only hope..they must reel in Frank and company. They took baby steps in doing so with their the last vote. Much more action is needed.
Profits by cutting the resources that actually make this company work is selling long term stablility for short term gains. Frank is either going to sell off parts or bail with Fiservs cash and holdings..
Management already knows all this.
They. Do. Not. Care.
“Most associates reacted positively to the policy decision to go back to the office?”
That’s the real insult. Management thinks we’re stupid. Maybe we are….for staying here. Yes please, allow me the chance to pay $6 a gallon for gas so I can miss time at home, and stare at cubicle walls in our gorgeous facilities!
We played a game when I was a kid…”Opposite Day”. Our management knows it well I guess. I mean, they don’t really believe the hokum they spew do they? Or I guess once you make your millions, you could give a rats a$$ I suppose.
I threw up in my mouth a little bit when Frank said the words “human company”. I don’t think Frankie Layoffs and I own the same dictionary.
So you are upset that Frank has requested you do your job instead of caring for your kids all day? And this is why you don't want to return to the office, so you can run errands instead of answering phone calls. I recommend you resign and become a stay at home mom then you'll have lots of time to make dinner and clean the house.
The results the changes are working. A wonderful turn around story
In March Fiserv announced a very reasonable and welcome policy allowing associates the opportunity to be in the office the “majority”, or 3 out of 5 days. Most associates reacted very positively to this policy decision.