When I look around my team, it's mostly people near retirement. We do get some new faces, but they're usually gone within a year, either unable to fit in or unwilling to do the work. When the old guard finally leaves, there won't be anyone ready to step in. It's wild that there are almost no junior people learning the work.
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@OP n do you think it may be leadership style also? Works both ways in my eyes to retain talent, good leadership is required.
Just saw this. Edward Jones is notorious for below-market compensation and benefits. A lot of savvy young people take jobs there, get their licenses and a bit of experience, and move on to better-paying employers. It’s a very heavily-trod path.
"unwilling to do the work."
One of those young folk, unwilling to do the work, here. Yes, I refused to work 50 hours a week with no overtime pay to keep up with the workload like the other folks in my area. I left expeditiously and got a 30% raise, and I don't have to put up with cult vibes or GPs that's spend their days trying to find a way to outsource my position.
The current pay structures and benefits do not appeal to the younger people. And no, I'm not talking about pet insurance or unlimited mental health days.
EJ used to promote this place as a career. They're now making it a job similar to retail/fast food. Pay has not kept up with inflation or cost of living. We essentially lose money every year despite our firm breaking records for profits. $500 401k match is pathetic, especially considering we're a firm whose sole purpose is to enrich client's financial situation.
Years ago the firm sent out emails asking us to write our Congressmen about passing the CARES Act. Well use that act to provide student loan repayment assistance for employees. That is a benefit that could help bring in more Millennial and Gen Z employees. With housing prices, how about we increase pay, and bump up the salary ranges. With all the record breaking profits, how about increasing bonuses and the profit sharing.
People go where the money is, and right now there's no money being paid out outside of ELT.
I agree with @am. I was a young newer talent and initially it was great, but over the last 2 years when they started hiring more Indian contractors, I saw the writing on the wall. My leadership would start giving all the growth opportunity work to Indian contractors. I was expected to pick up the same work as senior and architect levels on my team. I was even told to start training new contractors all the while my senior teammates were indifferent to my complaints since they were all checked out.
I consistently asked for promotion opportunities, but they fell on deaf ears. During my final 2 weeks at the company, I saw how my division was prioritizing teaching and supporting offshore and giving them the learning opportunities and onboarding I asked for but never received. I've since left and now have a new job prospect that will make me more income than I could've made here. EDJ was a great place to work and I planned to stay for years, but the way things have gone chased this new talent away.
@bv the current leadership believes that almost anyone can do any job position, and that things like talent, interpersonal skills, a sharp mind, and loyalty are not necessary. All that matters is cutting as many costs in everything, and the ELT will make even more. No longer can we say "money has never been my God". Now, we sacrifice and slay anyone in our way to making even more money. 'We have arrived!'
No talent pipeline. No professional growth path. The current CHRO isn’t exactly out there to develop people when she can’t even just manage the status quo. The functional GPs just want to promote their incapable underlings so who would want to stick around when they have talent? This place is a joke led by clowns.
"unwilling to do the work" see also
Live outside of stl or tempe and are now unhireable
Have difficulties pouring effort into work that will immediately be discarded for new trends or lost in a reorg
Struggle with core woek because the infrastructure makes no sense, you have to know the right people to buddy up woth to get things off the ground
Work in a culture that punishes actual innovation
Know that their efforts wont ever be rewarded with promotion
Yeah why bother
@OP, do you really think it's their unwilling to fit? With the reimagened 1 person is doing triple work and underpaid. Associates are so sick and tired of being lied to.
Have you thought about reaching out to the Wellness and or Associate Happiness teams lol???
It’s all a joke!
Mutiple reaons for this:
- Our reputation is in the gutter as a good place to work. Either online reviews and word of mouth now, especially around STL.
- We don't pay the talent what they are worth. We use and abuse them and dangle a carrot on a stick promising them promotions and $ that never happens. Just more kool aid talking points about "muh culture".
- Poor work ethic. Can't blame them though. You get hired onto a firm that has gone from best places to work to absolute toxic sh!+hole in a matter of 2yrs, all while threats of layoffs/outsourcing loom every trimester. You're new to an area where all the 'veterans' are either checked out, quiting, or verbally making it known how horrid it is here now. They long for the good old days.
- ELT making it known day in and day out that they hate us, lie to us, gaslight us, and are actively making us miserable so we quit.
- Summary: This company has created a toxic culture, and ELT only cares about cheap indian labor and somehow AI making everything better.