I once heard PP say in private that one of the the firm's biggest problem is over retention of underperforning associates. Did ER solve this? A lot of talent has walked out the door and im still surrounded by id--ts.
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I wasn’t underperforming for my entire career at the firm. I was an over performing associate full of gratitude for the opportunities the firm gave me and eager to volunteer and help wherever help was needed. And most of the people around me were the same way. And we propagated this beautiful culture of mentorship, teamwork, and merit based promotion. I had a front row seat to Penny’s rise through the ranks. She also was a benefactor of the old Edward Jones. That is why what she has done is such a betrayal. I do the work I am paid to do, but I no longer volunteer and I have lost faith in the firm. I don’t feel safe to express a dissenting opinion or even constructive feedback. I am part of the status quo and therefore, probably perceived as part of the problem. I personally know I am underperforming what I am capable of doing but I cannot mentally give this firm what I used to do to the deep level of betrayal I feel by Penny. It is personal for me. I hold her responsible for the loss of so many good people—GP’s, leaders and associates. I despise the firm and am ashamed I still work there. I’m trying to get out but I think I have a trauma bond and it’s really hard to break.
@13t funny because I posted a 1 star review and did all the steps required to post a comment and I still haven't seen it. This was lime 10 days ago. So, glassdoor scores are about as accurate as our JD Power awards. PP approval sits at 43%, even with juiced numbers
@10m somehow many great and happy glassdoor reviews get posted in the few days after my poor review, dropping mine beyond the first page. I'm skeptical. We don't even have that many employees to be posting new reviews that frequently.
@10f, my TL kisses rear end of higher ups. So far they seem to be fooling everyone.
@OP , I'm under performing in my leaders eyes in a new role. It stinks. I'm a tenured associate and spent a great deal of time in a different division.
@10f Sounds about right. Chase out the functioning people, outsource more cr-p, take on more work from teams that were gutted, micro manage associates like they are school children. Great culture guys! The glassdoor scores and reddit have absolutely raked this place over coals the last 10 months.
Speaking for my team
1- Laid off. He was certainly not an underperformer.
2- TL demoted. We were placed under a new team leader who has nothing to do with our functional area. He admittedly still has no clue about the details of our work. Our old is affectively still our team leader, he just got title and pay stripped away from him.
@OP ER was about cutting those with high pay with VSP. Moving people down grades due to pay with ER. Letting people go who push back with ISP. They knew what they were doing. Underperforming associates is due to Penny and ELT’s lack of desire on how to treat employees. We have to go back to the office, swipe badges, they are tracking our computers now, and they aren’t giving any promotions or raises. Oh, and now India… if they wanted performing employees, they’d treat us right. They don’t care.
@OP ER was nothing more than a way to flush out GPs, leaders, and tenured associates who would push back against the ELT and their wreckless decision making. The damage done during it is still having a major impact in service, tech, and ops. Teams are now stretched even thinner as good talent walks out the door, more work dumped on skeleton crews, and the only solution our directors have is to hire on more indians or somehow get AI to do the work (mo--ns!). The morale in home office is a mixed bag of depression, stress, anxiety, and non stop cynical commentary. Great culture, penny!
It did not. ER was not about performance, otherwise those not performing would be gone and those performing would have stayed.