I have been trying to figure out what exactly is the biggest issues with the company and I've narrowed it down to:
1-hyper focus on cost cutting at the expense of everything else: there are not enough people with skills and knowledge at State Street, so everyone is overburdened and processes fail
2-States mission and vision are not in line with the day to day operations and actual culture of State: mission: 'inclusion and diversity," this is not the reality and there is no way top management doesn't see it.
3-Pay/Merit system: pay rewards tenure and/or favoritism by managers. There is no benefit to working hard and continuing to innovate/push yourself, in fact if you do you may not make any raises for stepping on managers toes.
4-They don't care about employees wants or needs. From HR telling us cost of living is not factored into our pay therefore many people didn't get raises this year: to forcing people into vaccines and boosters, to forcing people into connect week. Employees do not matter they are just pawns that have no say.
5-Overall the company is going downhill-I have friends in other banks and State has a reputation of horrible response/service/knowledge. that is due to how this company has decided to operate with offshore and cost cutting, and as a result now the attrition.
For a company so focused on client experience it is amazing to me how State is horrible for clients and getting worse.
Is there anything you would like to add? I hope State ultimately sees this since they ignore what employees say in the office.
With that I do want to shed some hope to others still here, many of us have left and have found great jobs with better pay and more benefits. There is so much opportunity out there- esp in finance, and you deserve more for your hard work. This is your life, you do not need to keep giving it to a company that is falling apart.