a) How would you rate Fiserv in relation to the rest of the industry?
b) Why do people go to competitors en masse?
Colleagues who receive offers in competing companies do not hesitate at all, and others generally can hardly wait to get a job in competing companies. Fiserv is one big disappointment.
It never ceases to amaze me that there are still people at Fiserv who can't figure out why everyone is leaving. The company is garbage. It treats its employees poorly, micromanages them to he-l, underpays them, decreases benefits when it's convenient, and then expects loyalty in response. The job market is hot, and Fiserv is offering nothing competitive to keep people here. I don't know a single person in my organization who believes that Fiserv is a good employer, and I've heard plenty of complaints. We all pretty much tacitly agree that this place sucks. My team alone has lost a tremendous number of people over the past two years. The only reason I'm still here is because I managed to negotiate a pretty nice pay bump by trying to leave. But I'm already interviewing at other companies now, and already have one offer I'm considering. It's just too easy to find a better company than Fiserv. My guess is that management is either oblivious to their antiquated management style, or more likely, knows their offering is inferior to that of competitors, and is hoping to force attrition for cost savings and higher profits. Who knows what the real reason is.
Anyway, hopefully that answers your question, OP.
I always laughed at how Fiserv touted itself as one of the best companies to work for.
When Glass Door rated it as one of the worst.
FISV is a joke lately. on my team, my manager keeps telling us all that being back in the office is wonderful. no doubt his manager threatened him into saying that. he delegates all work to an incompetent scrum master who is out of office 90% of the time .
I moved to a large competitor.
Slight pay increase. Healthcare premium way cheaper.
They didnt take my 401K because of the pandemic.
WFH is fine with them.
Way less stress.
Fiserv is the Harbor Freight of FinTech. You know it sucks but the price is right.
Frank only cares about Frank. He needs to make his numbers quarter over quarter and cannot see the big picture.
The general problem is that the OFD management style that came in-is micromanagement in it's worst form.They don't trust that you can do the job, and want a play-by-play so managers can justify their positions. The pay isn't worth the pain and suffering that Fiserv dishes out. They have no respect for a person's personal time. Their moto is, if you work for Fiserv i can monopolize your time and change your hours at any point without compensation.
This is why people leave in large numbers from Fiserv. Other top companies trust their employees, pay for top dollar for talent, respect personal time (Work Life Balance) and rely on their hiring practices to filter out the riff-raff. This is why they have had so much turnover in the past 2 years, and will continue to have it until the new CEO and SVP figure out how to be leaders, instead of micromanagers.
On a scale from 1-5 with 1 being the worst. I would give Fiserv a 1 in the technology industry and maybe a 2/3 in the financial industry. They are one of the worst companies to work for in comparison to other fortune 200 companies.
I don't think i have seen this many job openings at the company 2600 open jobs. Normally it would spike between 200-600 job openings.