There is nothing good about this company. Even if you are currently a high performer, or you think leadership likes you, this is organization is a case study in how to not operate a business. Decisions are made not based on what's good for the client, or what is commercially benefitting the company, but based on politics: "what does [insert inept executive/leader name here] think." In addition, RIFs / PIPs are decided not on actual performance, but based on who those in power like. They will have middle managers or the MDs just under them get rid of people to show loyalty. You read that correctly. Loyalty. Not about the business, not about how that person is performing, not about what's good for clients. And in order to cover themselves, managers will go along with it, knowing it's not the right business decision. How this even passes for any sense of being for the client, or fidiciuary duty, is beyond me. The last time I experienced something like this was high school.
13 replies (most recent on top)
Are you still waiting for the WSJ to print your letter to the editor?
Pretty sure it’s gonna be a joke on their bulletin board for a long time…
Brilliant headline and 1st post here. I am posting it to my wall.
Thank you - whoever you are!!!
Oddly, Over the past 5-6 years, each successive generation of employees also has been significantly worse than the one it proceeded… just as with managers…
A case study in the degradation of the work ethic from GenX onwards. I’d posit that mediocre managers are more comfortable with mediocre employees..
But hey, what do I care… I’ve got no stock in this dump…
Got out last year around when the consultants came in to help destroy everything. Glad to see they only made things worse, got their $, and bounced. I bet leadership has an excuse when things go south, which of course is the reason for the consultants in the first place. Why actually take any responsibiliy or accountability as an EC or manager when you can blame 3rd parties at the company's expense?
In the 8 years I worked at BNYM I had 5 different MD's for my group. 6 Different managers. No coherent career plan/growth. If it wasnt for covid , I would have left 4 years ago.
who is this clown @1ijz+1sj8cdAm ?
Must be one of the courageous (sarcasm) senior managers here who doesn’t question any of the inept leadership for fear of losing their RSUs. Play along like a good little tool! Sooner or later it’ll catch up since clients are now seeing the impact, and oh yeah, we have dunces running the place. To say this place is toxic and run purely on politics and fear by insecure and ignorant leadership, is an understatement. Steer clear. If you are here, make plans to gtfo.
@1ijz+1sj8cdAm lol what’s up Robin? Don’t you have a company to run into the ground?
In the last few weeks I know we have either lost several pitches that were close to win bc they got rid of the allegedly “non performing” brain trust working on them. And let’s not get started on our existing clients - do you think they are stupid and don’t know what’s happening? The word is out and other firms are salivating to get on a call with our clients and bring them over. It’s not going to happen overnight but I’m watching and hearing this slow bleed. Best of luck
So much hyperbole and drama here. RIFs / PIPs are both of course decided based upon employee performance. I’ve never met a sub-par employee who didn’t feel that they were sub par, but they’re plentiful and most all teams know who is effective and who is simply a lump..
Just a reality check for those rationalizing their B.E. ratings or performance.
The board simply open their folders and view their respective checks. They haven’t been engaged since the Cahouet era.
Whoever wrote this is correct - I think Robin must be fired immediately- is the board sleeping? This is what happened with a few companies -they spoil the culture like parasites.
A new a CEO every two so years is a red flag..
Over the past 5-6 years, each successive generation of leadership has been significantly worse than the one it proceeded.
A case study in the degradation of a corporate culture.
"I don't think you want a management structure that's just managers managing managers, managing managers, managing managers, managing the people who are doing the work." That's bnym for you.