More and more employees are finding jobs in other companies and this is becoming a real challenge for BofA. How is it possible that the bank is not doing anything to all these people from leaving? The management seems rather indifferent to it.
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Very glad I left that POS place a few weeks back to one of the competitors. I'm fully remote, management cares about folks WLB, HR tells you upfront what percentage of yearly bonus you will get, and it's in the offer that you sign, which means that I don't have to guess if my bonus is good enough or one that was barely noticed. Loving it at the new place with a bunch of talented folks that have been at the place for 7+ years, plus a bunch of really talented ex-bofa employees that left that sinking ship.
Their strategy is to drag their feet on everything. Slow to roll out the survey. Slow to give us results. A bonus that can't be fully enjoyed until 4 years from now. The slower they go, dangling that carrot of meaningful change, the longer people will stick around in the hopes that something good will happen. Everyone seems excited about the survey results but based on our pay and "bonus" it's going to lead to barely any change.
We have a private bank still? I thought it went all Merrill 3 years ago...
Our whole team wiped out. Most forced to resign. Senior bankers, 20+ years of specialized experience, 10 years together. Very profitable. Most w/ MBAs or other advanced degrees. HR zero effort to retain team. Irreplaceable talent. Kicker is bank literally spent mega- dollars training us over the years - off-site classes, etc. So, no, they don't care. New management team super arrogant, more interested in self-aggrandizement and stamping us out to make way for newer, shinier, incompetent replacements. It was the most bone-headed thing I have ever seen.
They don’t care. Let attrition be your friend is the mantra. I resigned recently and they were shocked but did nothing to encourage me to stay. Let’s face it they are on the fast track to automate the investment functions of both Merrill and the Private Bank. I predict the Private Bank in be folded into Merrill in three years.
The US economy is so shaky right now. For every employee who leaves, there will probably be 250 applicants for that job. Layoffs recently announced at Netflix, Wells, Peloton, Kraft Heinz, Robinhood, and so so SO many more. Just Google it. There is a saying that a happy employee is a productive employee. That means an unhappy one is a unproductive one. So no, I doubt the bank cares if unhappy people want to leave because there will always be another person waiting to take that role. At the end of the day, people will work to pay their rent. Even if it’s here.
No...I don't care much either...they don't pay me enough to care about "the bank"
The higher you go, the more they look at employees as numbers on a spreadsheet. Developer leaves, so they simply hire a replacement. Previous developer could perform complex data science queries and crush through user stories bug-free. New hire struggles even with some basic computer science concepts. New functionality is cancelled or delayed and software is maintain only.