I'm embarrassed every time I hear management say, "We are a work in the office company." Why would they ever want to admit that? It's like saying, we haven't evolved, we are stuck in the past, we don't care about the environment, work/life balance, and on and on. Take the lead, BOFA...be the innovators you claim to be. Stop talking and create a brighter future for everyone. Put the breaks on it all now. Admit you were wrong and be brave enough to make the change. Others WILL follow. Use this opportunity to LEAD.
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Cost cutting makes sense with people "voluntarily" leaving and not having to pay out severance packages, but it's not going to be pretty with all the extra work people will have to do to make up for the loss in headcount.
From the surface it seems very frustrating that Sr Leadership seems so out of touch with regards to RTO; however, the RTO plan is all about cutting costs. Every town hall and all hands call I've been on this year have had Sr leaders absolutely fixated on cutting expenses. It is, and always has been, an attrition play. Maybe, just maybe, if enough people leave over time then the Bank will be forced to change their ways and adjust to a new normal that sees many employees placing more emphasis on work/life balance and splitting time between WFH and office. I also believe that if attrition numbers are high enough this year than it will alleviate or at least minimize lay offs next year.
Neanderthal thinking!
With the amount of people leaving in droves, the top does not see the problem from high up there. They look at attrition #s and replacements. It's never quality.
The whole mgt rotation is just moving the cancer to the other side of the body. It does not cure it.
Morale is going to continue to take a nose dive. Tier B and C talent are the target market. This only frustrates people like me who liked their jobs and managers, but cant stand the overarching bank policy. This is why I am interviewing for the first time in 11 years.
Didn't they tell us to "embrace change"? or is this philosophy only to thee and not to me?
You really have no idea who really runs things, huh?
They are followers not leaders..
It’s another clear indication of how out of touch they really are. Fools who boldly proclaim how foolish they really are.