I an era where many Fiserv folks feel betrayed by the "acquisition," their CEO is living the high life.
https://www.dirt.com/athletes/sports-stars/shaun-white-home-malibu-1203306190/
https://www.bizjournals.com/milwaukee/news/2020/01/02/fiserv-ceo-yabuki-buys-malibu-mansion-from.html
But that's exactly what management wants, yes people. Don't buy the 'we want talented people' drivel. Leadership just wants to rule with an iron fist so that they can make decisions, bark orders and have everyone follow. They would much prefer yes people who just do what they're told then talented people who question any leadership decision, every day of the week and twice on Sunday.
Expect a mass exodus after the March bonus payouts. The A players leave in droves leaving the talent lacking yes people behind The market is hot for talented people
I believe the contracts that Fiserv has with its clients include fines and penalties if deadlines are missed or mistakes are made by Fiserv and compensation is awarded to the clients. If you read the notes when quarterly reports are released, you will see vague references to this and this negatively impacts quarterly results. A lot of the missed deadlines and mistakes are a result of "penny wise, pound foolish" management decisions because of too few experienced people or not enough training as a result of cutbacks and layoffs.
How long do you guys think it will take for the company to implode or morale to drop enough to start impacting clients, and cause high attrition or employee's ?
Simon is spot on and thus define who and what JY and FB are,
They are not leaders, they are authorities.
Simon Sinek is the exact antithesis of JY and FB. His concepts are totally foreign to those two jerkweeds. "Great leaders would sooner sacrifice the numbers to save the people". HA! Yeah GREAT leaders would but neither JY or FB are great leaders since they only care about themselves and the stock price. Those guys wouldn't recognize a great leader even it were growing on their ass
The Fiserv I remember had a very talented and engaged workforce. The senior leadership however was belittling foul mouthed and frankly attempted to bully and intimidate. There are better places to work with moral and decent leaders
And consider this. As bad as JY is, FB is much, much worse. Team Orange, get out while you still are sane.
Yabuki is a piece of sh–. I worked at Fiserv for years and when he took over CEO in 2005 he did the following:
1) Forced all employees to read the book "Who Moved My Cheese?"
2) Not long after, Fiserv started aggressively hiring in India
3) In 2009, the first company-wide layoffs. From then on, layoffs have been routine.
4) The annual bonus was eliminated
5) The company employee Christmas gifts were eliminated
6) The annual profit-sharing plan contribution was shrunk down to nearly nothing
7) Everyone was forced to go on to high deductible health insurance plan
8) The month-long sabbatical was eliminated for employees with 10 years of seniority
9) Fiserv started charging an annual fee to all employees for the 401K plans
10) Most tuition reimbursements were eliminated.
11) Annual raised are generally below the CPI index
I'm sure there are many more things to list but suffice as to say Yabuki is a piece of garbage.
I think this video is talking about JY and FB at about the 8 minute market of failed leadership. https://www.ted.com/talks/simon_sinek_why_good_leaders_make_you_feel_safe?language=en
Simple explanation, he's a piece of sh–.
While he buys a 11mm second vacation home, folks are wondering how they are going to take the hit of 200-300 a month in gas costs as well as in some cases pay dual state taxes for residing in one state and working in another, just to come to an office to facilitate FB and his ridiculous idea that we need to work like its 1970. And FB can sow his failed processes here and make fiserv the despised place to work that First Data was.