Thread regarding Wells Fargo & Co. layoffs

Turnover speaks for itself

A huge number of new hires leave within their first year, and one of the biggest reasons is the lack of proper training. People are placed into complex roles with minimal guidance and expected to figure it out. The usual line is that we hire experienced professionals who should hit the ground running, but that ignores how different each company's systems and workflows really are. The truth is, leadership often avoids investing in thorough onboarding because the benefits are not immediately measurable. As a result, we waste time correcting avoidable errors and constantly backfill roles. It is a short-sighted approach that ends up costing more in the long run. Until training is treated as a priority rather than a luxury, this cycle is not going to end.

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Post ID: @OP+1jyv9xmjy

15 replies (most recent on top)

Yup and even within a group re-orgs put people in new roles they may have no prior knowledge.

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Post ID: @1k2+1jyv9xmjy

Never under why people are threatened by subordinates that are super capable. There's literally no mechanism for them to "take your job", unless you do something stupid and get fired, then sure, they might get promoted, but is it really that hard to avoid being fired? Not really, no.

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Post ID: @1bq+1jyv9xmjy

@gz
Interesting you mentioned getting the MVP out the door. Have seen where people with 20+ years bully new talent who may not be as experienced/senior in organization but still command respect from the team. middle mgmt can be intimidated by good talent and seek to rid them via office politics. Higher mgmt is none the wiser either, they only hear what middle mgmt reports up to them. So good employees get gone and the bad employees stick around/look out for each other in gaming the system as middle mgmt.

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Post ID: @161+1jyv9xmjy

officer titles almost everyone has

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Post ID: @ms+1jyv9xmjy

they don't worry about involuntary attrition, it's the voluntary attrition they are starting to worry about hense the recent notice period changes for those with officer titles.

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Post ID: @ka+1jyv9xmjy

If there is data to support the turnover, I'd be curious if a factor is the reality of not becoming a CEO on week 3 and an expectation to actually deliver vs bragging about in school....

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Post ID: @k9+1jyv9xmjy

Change Management has been the top obstacle to change here the last few years, ironically.

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Post ID: @jh+1jyv9xmjy

I always said it takes 6 months to learn a new job. Here it’s like 2-3 years. I’ve never seen so many cobbled together processes. There is no appetite for rethinking and making things efficient. It’s all just get the MVP out the door and let someone else fix it.

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Post ID: @gz+1jyv9xmjy

It takes like 3 year to understand the situation at this company and how to navigate it

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Post ID: @gn+1jyv9xmjy

Hey, top salespeople love this. Have the young ones leave. Keeps me safe. I keep making my commissions and/or bonus. A toxic workplace protects me. All I have to do is wave my flag and say it will get better (even though I am more interested in the $ than how healthy the workplace is).

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Post ID: @cw+1jyv9xmjy

"A huge number of new hires leave within their first year"- based on what data? With this economy, voluntary attrition is near record lows. What are you basing this on?

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Post ID: @c5+1jyv9xmjy

There are some good ones out there it just varies like anything else. Another aspect is that some are leaving because their mentor(s) are being laid off and they are thinking yeah no thanks. No need to settle in here when they’re seeing seasoned and great people being shown the door.

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Post ID: @c1+1jyv9xmjy

@b7+1jyv9xmjy

Yep, and the reason why they are interns is because their mom or dad are senior managers. I've even had some interns that don't even want to working in banking and/or they are pursuing a non-business degree. I've seen dentistry, forestry, interior decorating. It's insane. Then these kids come in like they are hot sh-t.

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Post ID: @bj+1jyv9xmjy

The real issue here is the GenZ Disney world interns, who need a lot of hand holding on the job.

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Post ID: @b7+1jyv9xmjy

Also add a lack of onboarding tools. Every year we think it will get better. Wasn't ServiceNow suppose to help?
Recently I have seen many leave, saying that they had another job that came through for them. These people use to stay... now they leave... You have to wonder why. You begin to wonder and examine your own job. Will it get better?

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Post ID: @aa+1jyv9xmjy

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