I know he’s stepping down, but in the 5 years that he has been in seat, how is it possible that the CEO didn’t hire or promote a single veteran to be an EVP on his leadership team?
He made at least 12 EVP hires during his tenure, but not a single veteran.
How can this be, especially at a company that publicly prides itself on serving and employing veterans and the military?
I concur. We've a shortage of 'leading at the front' , walking the walk, and selfless leadership. Non-military backgrounds can have this too btw, and they do at other companies. The rub is we see so much the opposite, and feel cheated.
I was initially hesitant to share my thoughts, but I feel inspired to take a stand. The idea that only bankers can run a bank while military personnel are seen merely as warriors undervalues the incredible skills and knowledge service members bring. Many in the military possess advanced degrees and are enriched by their experience and dedication to our nation. They exemplify values such as loyalty, duty, honor, and selfless service and thrive on collaboration with innovative thinkers. Their talent for identifying and empowering the right people to tackle challenges is truly commendable. While they may not have all the answers, true representation would mean ensuring that at least 20% of our executive management group has military experience. This alignment would make USAA proud. Serving under a retired flag officer is a deep honor. The most effective leader is open to learning, recognizing that no one has all the answers. In essence, we need a powerful blend of military, banking, and P&C professionals.
Simple answer. We are fundamentally changing as a company and don't actually care about veterans or their spouses. We hire them purely for tax breaks. The second those stop so will the motivation for hiring veterans. There will be this narrative about their lack of skills related to banking and insurance.
Because we’re a bank!
Sorry—wrong. There are many highly regarded vets in senior positions in banking and insurance. Even USAA’s website says that its employees are 23% military (vets, spouses, guard/reserve).
But among the EVPs at USAA, the number is 0. And among the SVPs, I can only think of one who has P&L accountability.
There’s something very wrong. Either the CEO doesn’t want them or the organization can’t convince them to join / stay.
Because blowing stuff up and ki-ling bad guys doesn’t qualify you to run one of the largest financial institutions in the country. This post is just another example of optics over substance. Hire qualified people. If they are veterans, great. If not, fine. Just get someone who knows what they are doing.
Neither DEI, nor merit based hiring
Imagine if our military ran like that place. I’m a veteran and left within months of hiring after figuring out it was all a sham. Military, you’re no better of insured with them than anywhere else. Just horrible service driven by unreasonable metrics, fear, and incompetent leadership. I witnessed the ones considered to be “successful” game the metrics at the expense of the insured. The absolute worst place I’ve worked. I’m embarrassed I was part of it.
Zortman dropped the ball when he and Fargo put all their eggs in one basket in 2019. They were forced by the feds to dump Parker and they chose WP. They weren't aware of his trail of destruction including his strategic intentional elimination of Sr military officers over the last decade. He was almost retired when they dangled the $$$ in front of him to take over. What did it cost USAA? Just our brand and culture. Did he hire and Sr military officers since then? Just special Bob, who is a nice guy but out of his element. Couldn't even run HR - HR is typically the lowest IQ department of any major corporation. They are expensive compared to cost per IQ point. How a retired 2-star general couldn't drive our shortest bus is beyond me. Don't get me started on our plactic faced HR tool.
Veterans are a marketing scheme at USAA. Everything else is "just business".
Because the powers that be at USAA don't care about veterans amd military members. The powers that be at USAA only care about the public believing the narrative that USAA cares about veterans and military members.