HW is a constant stress. It's as if no one in the leadership is aware nor cares about the headcount shortage problem, which leads to frustration, more people quitting, and ultimately the fact that we often can't meet deadlines?
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3 decades of running the Jack Welch playbook - why expect any different? People and closing facilities are the last remaining cost levers for HON as everything else has been stripped to the bone over the years.
All that matters is the money and share price. I'm at the senior level and wish this wasn't the case. Sadly, that's all that ever seems to matter. But don't let anything slip! Total BS.
Take solace in this, as soon as your workload does slow down you’ll get RIF’ed.
In Canada temps from bad bodyshops are often used. Most aren't any good, those that are quickly leave. Nobody wants to train them because it is a continuous revolving door and severely impacts the ability of the dwindling number of competent workers to do their own jobs.
If you look at even just the last 20 years of HON Annual Reports, US employment base has decreased in a fairly linear fashion by ~1400 people/yr. The only real exception to this was 2021 with an unprecedented 7000 drop in US employees in one year. With all the M&A integrations, headcount is still down ~1400/year for 20 years. So of course we have a headcount shortage, it's by CEO design to become rich off workers, LB, MB, LB, DC, DA, VK.
Yeah this is not sustainable for me personally. There is no end in sight and the work just keep getting piled on and on.
Furloughs will fix the the headcount problem and will get more work done! How about a hiring freeze too?.....this company will never change, the playbook has been written and handed to whoever wears the CEO title.
Post ID: @2jwu+1nIGvVZ2 Truth. We had terrible applicants for open roles in the last couple of years and I advised my Director to wait and not to employ any of them but he only cares about how many reports he can have under him to boost his status. We hired all of the trash at stupid salaries and are now paying the price. My workload is also through the roof because I have been forced to baby sit / do the work of the incompetents who all will stab you in the back in a second as they are so desperate to keep their jobs.
The percentage of intelligent and conscientious people willing to keep the shydeshow afloat continues to fall. As more and more freeloaders and boors overload the system it will reach a critical point and implode.
I would rather deal with the shortage of employees than deal with a lot of the inept people that they keep expecting some of us to train. They bring in whole groups of them. Bad attendance, attitude and a lack of capacity to learn. "We'll give it another week or two." They are often paid more than the employee training them. I would rather keep working constant overtime rather than babysit and handhold people that aren't going to work out. This is why people leave
@2peu+1nIGvVZ2 I agree with your sentiment except India is not fading in fact quite the opposite, I would also watch for South Asian growth too ( and China utilizing these locales as proxy). Whilst the current political zeitgeist of industry repatriation is pushed I agree it will come to nothing when the reality of the transitional financial impact is realized, as someone mentioned below, Black Rock and Vanguard won't allow it.
Honeywell is dying a slow (or is that quickening) death, the most likely outcome will be that it is broken up over the next few years. I despise rumor but I would not disbelieve the mutterings that this is already in progress.
Better understand that “offshored” doesn’t mean what it did four years ago. China is out. India is fading. Czech is too expensive. Russia is obviously not an option for software dev as was hoped. Honeywell is desperately looking for new low cost regions to prop up the shell game.
This isn’t about offshoring anymore. Look for aggressive moves to pull work back inside followed by divestment when they figure out we can’t do it without capital and people.
All will be offshored.
If you work really hard to build the business it requires constant investment, risk and time to see a return, this will upset Wall Street (Black Rock, Vanguard, State St) who desire to see a constant steady increase in quarterly returns and do not like to see the wave created by development cycles.
As a board executive your all important bonus is tied to that quarterly performance so the easiest path to wealth is to prop up the quarterlies by stripping the business to make up the deficit. It is of course unsustainable but with a company the size of Honeywell you can do this for a couple of decades before it finally pops.
The new CEO can do this for maybe another 5 year before there is nothing left. The writing is well and truly on the wall.
The beatings will continue until moral improves.
What I think you fail to comprehend is, that is the plan! When Allied signal merged with Honeywell and kept the name there were 360,000 employees. The majority of these employees were in the United States. Fast forward to 2023 and the current headcount is just about 90,000 and dropping. In the next 20 years the company will shrink to the board of directors and the CEO. Now back to work