The energy’s completely drained, and morale's nosediving fast. Top talent is leaving in waves, smartly jumping ship as things get worse. Now we're stuck with a shrinking group of less experienced, anxious employees watching it all unravel. And it's a scary sight to behold.
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Getting laid off was a gift.
Here’s my assessment of what’s happening. It’s a failed rebranding attempt. There have been a lot of bad leaders at the director+ level for the past 10 years or so. At the same time, the executive and board level decided that they need to lean into technology more. This is a fair assessment being that our primary function is a custody bank and should be very tech heavy and automated. They realized that the bad leadership they had in the ranks needed to be replaced with more tech savvy people, but was failing to recruit them and replace the bad leaders. Custody banking by its nature is very boring, and BNY does not have the same allure for people in the industry as the other big banks. Brand jam, and all these transformations now to agile are in an effort to try to make the organization seem more hip and cool in effort to attract a different type of talent. The problem is once they get into the bank they realize it’s a boring industry and any of these good new recruits quickly leave. What the organization should have done was not pretend there were some cool and exciting bank and instead focused on increasing internal morale through better pay, social events and other benefits to get employees to talk in a more social and relaxed way. This would’ve enabled some cross pollination of ideas across the org and a different grade levels. Ultimately this would’ve weeded out the bad leadership as they couldn’t hide in their pods anymore and made people more enjoy working at BNY. And this would have eventually recruited the talent that the organization needs.
I cannot wait to turn in my notice soon. In all honesty, I love my team, my manager, etc. It is senior leadership who have made this place absolutely insufferable. I will hate to leave my team who will certainly be left in the lurch…BUT, gotta look out for #1 and I suggest you all do the same.
Everytime i see Robin's latest 'checking In' video caption of him addressing employee top-questions...I feel like clocking him on.
What a kn*b!
Morale is on the floor these days. So many people left my department. We had a director leave, her responsibilities fell onto a manager. That manager left and the responsibilities past down to two different managers and from there on out, everyone on that team left one by one. They left so fast, folks who moved internally were asked to come back to support the team. It’s constantly restructuring. I also left the firm not too long ago.
If I could talk to Robin without retribution by he and his toadies, I would tell him he is a failed leader. Just because the stock price is high where the street and investment community know BNY are saving money by turning people into V8 juice, doesn’t mean you are a success. You Robin, have created a culture of fear and chaos. People do not feel safe here. People do not feel valued. People do not like being looked at as expensive objects that you put up with. Clients see it too. It isnt long before the ugly welts employees get start to land on paying clients. Fines, settlements, lawsuits etc. We have vendor relationships that are very mismanaged and priority issues logs to prove it. These conditions not only persist, they are growing. When employees here actively tell job seekers to run as fast as they can from here…..This is all failed leadership. These issues get hidden from RV and his oompa loompas. Not shared. So enjoy your Titanic bourbon and cigar in the first class dining saloon RV. It wont be long before the water bubbles up from the engine room and third class decks for you.
This place is now an accident waiting to happen. India, free coffee and doing the ‘hustle’. Yeah, that’ll fix everything.
Agreed 100%. Service has declined, morale in the toilet, the work is infinitely more frustrating, on and on. More cuts coming so that we can “be more for our clients?” Never fear though. The Company has several well-being resources available to all employees as their job security goes out the window and the work becomes so stressful that it impacts their physical and mental health.
We started with 10 people in our POD, we are now 8.
They have to pay for the useless agile leaders they hired to do nothing
But look at that share price $$$$$$
Cha ching for our glorious overlords.
Morale is terrible in our office. We've lost a lot of good people in the last year.
I can't stand working here anymore 😒
Hard and sad to see. Heard last week that once in P-M, they look to cut a % of the PODs quickly