I see people hoping things would improve with time and while I appreciate their optimism, I think they're being delusional. We are past the point of improvement. Things can only get worse. We'll continue to see targets increase and overall compensation decrease and there's nothing we can do about it other than leave. Which is what I'm planning to do.
3 replies (most recent on top)
There is plenty we can do. Many of us need to get together to enact positive change.
I think a lot depends on this year's corporate performance, public perception of USAA, and whether they have been actively trying to improve their product offerings. Not to mention what talent they have already lost or will be losing next year.
I think there will be a sell-off of certain parts of the company. There will be the usual statements about how this is a necessary step to coming back strong. And I think there are massive layoffs around the corner (TOF quitting makes me believe this).
Unless they staunch the bleed of $ and talent, and stop the confusion that seems to have them spinning in circles, the decline will continue.
And, yes, it will take an extremely strong and talented leader to do this. I do not think that leader is currently there at USAA. He is too busy buying Italian marble and chandeliers for his monument to poor leadership.
Things can improve - but only with strong and effective leadership. The kind of leadership that the Board does not seem capable of delivering. Unfortunately the Board is content to run a cookie cutter consultant driven operation devoid of true character that just does whatever Larry Fink says everyone has to do to maintain their ESG score lest they lose competitive access to capital.