Revolving door of good, knowledgeable, tenured employees that know the business, industry and clients.
Generally, Fiserv does not hire leadership from within. There seem to be several key companies from which we source our leadership; once someone gets their foot in the door, they bring all their good old boy buddies. Fiserv does hire some of the best and the brightest senior leaders with amazing resumes who are looking for a short term stint and rich payout at the end. Yet, everyone from mid-management down continue to see the erosion of benefits, culture, productivity, client commitment and compensation. Some recent examples are: 1) moving a significant number of development and client facing customer service positions oversees which has resulted in wholesale layoff of teams, 2) divesting of certain products and services resulting in a forced march of clients to other products - oftentimes a competitor, 3) the recent focus on “Financial Wellbeing for Associates” has resulted in reducing the discount of the ESPP from 15% to 10%, 4) disqualifying groups of employees from performance and stock grant plans, 5) hiring new associates for your same role at a higher rate but being unwilling to adjust the existing employee’s pay scale who trains the new employee. Anytime we receive a corporate communication which claims to be of benefit to the employees that states, “competitive and sustainable”, employee beware!
Constant retooling of compensation plans. Making them so unnecessarily complicated and unattainable. Each year is a new experiment at the expense of the pocketbook of the employees.
