They really seem to have trouble filling new roles. Admittedly, they may not be in a hurry to fill some roles but they are very likely to have a lot of trouble doing so. It is difficult to find a good and cheap employee who will be ready to subordinate their whole life to BofA.
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@1qbi You are correct, and this is due mainly to lack of organic growth and numerous acquisitions from the 90's on, just to name a few here...Security Pacific Bank, NationsBank merger, FleetBoston Financial, Merril Ly--h, U.S.Trust, Countrywide, La Salle Bank and finally this year Axia Technologies.
@1zmh+1dCSHbHk it's a good call out...the organizations are akin to shanty towns hastily built, fragmented with little foresight into how value capabilities can be delivered best to clients. Each executive comes in like a neighborhood gang leader to claim his turf and strongarm their business vision.
It is not only the hiring process, it is the culture of the company. Compartmentalized, segregated business units, lack of communication, cooperation and understanding, the silo mentality, lack of common platforms to perform business activities, constant patch work and reactive, lack of vision. Just to name a few....
Not allowing external candidates because they don't want to pay market rate for talent.
Promoting from within has it's disadvantages because certain groups just aren't attractive to work for and build a negative reputation for how they run things (or feebly attempt to run).
@1our+1dCSHbHk look in the mirror.
You sound bitter.