Two other reasons why C can’t draw top talent are…..
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) People can read the news and they see the regulatory fines and law suits and are leery to jump on board especially when comparing growth of our peers.
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) The job referral process is busted. You make a referral for a specific Job ID, they gather all the referrals, close out the posting, a few days later create another EXACT posting word for word for the same job title, same manager, same group, same location. The only thing that is different is the Job ID which makes it a new job posting. They then contact your referral and speak to them and ask them to apply as they are a good fit. This whole process negates YOU getting that 5K referral fee. When you inquire about it you are told its a new posting and not the one you referred them to. My response to HR is that its quite the racket loop hole they have to get out of paying that 5K. The exact response I got was “Well, it works.” This has happened to me 3 times now. You can pull up the old job post and compare to the new one and again, its a word for word comparison with the only thing different is the job ID. A new posting with new ID opened the day after the original post closed out. Rrriiigggghhhhttttt……
Now I know what you are thinking. “They have to be hired and employed for a year, then you get the 5K.” Yeah, I know and its all unfolded exactly like that. They got hired and are Citi full time employees, again, no cash. When you got to the referral process PDF that’s out there there is in print the clause of “Citi can at anytime, change, alter or cancel the referral process whether its in progress or not.” or something to that effect.
So you get to a TH and you’ll have a MD tell you about how awesome it is and how they referred someone and thought nothing about it and low and behold they got 5K. Yeah yeah….they give out just enough of the 5K payout for it to keep the appearance alive. They most assuredly made sure the MD who made a referral was to get his 5K so he can tell a good story.
Right about now, someone is thinking about chiming in with “Well if you make a referral that’s a good fit. So the company benefits, you benefit, everyone benefits and it makes the company stronger as a whole and the stronger the company, less chance of layoffs so in that, you also win.”. Yeah, yeah….
Overall its an example of how Citi looks for creative ways to look good and present the appearance of “doing the right thing” when in fact the actions speak otherwise. The over use of obfuscation and twisting of words and interpretation.
So you fast forward to the VOE and you give them a neutral or lower rating on questions of company honesty.