2y
Dear Forge Team Member,
Thank you for taking the time to share your thoughts and concerns about our sales management team on Glassdoor. We take all feedback seriously and want to assure you that your feedback is valued and appreciated. As a current manager on our sales team, I would like to address each of your concerns individually to show we’re listening with a goal to better understand the needs of our team members.
I understand your perspective regarding the approachability of our management team. Open communication is essential for fostering a positive work environment and I apologize if you have felt that our managers were not easily accessible. We believe in the importance of maintaining an open-door-policy and encourage our employees to share their thoughts and ideas freely.
Perceived Seniority and Favorites Approach:
Our goal is to develop and support career growth for all our sales professionals. In order to promote fairness, the majority of new sales leads are randomly distributed amongst the team by our internal system, without human intervention. The sales role at Forge is unique and in an emerging market, so new hires require training and development over their first 2-3 years on the job. Senior team members typically have 5+ years of experience in the role, with everyone working their way up to earn enhanced responsibilities and greater opportunities.
Comment about Comp Changes:
Understood. We have a unique compensation structure for the industry, offering a mix of base, equity, and production-based bonuses for sales personnel. We strive to provide a comfortable base salary with the opportunity to achieve meaningful upside earning potential based on production. The production component is certainly challenging, as markets have been volatile over the past 3-4 years . As noted above it has been a tough market lately, and in response we worked hard to adjust our compensation structure in 2023 to be more attractive and achievable for the sales team. I wholeheartedly believe we achieved that this year. I believe we have a plan in place that works for the long term, after some volatile years.
Comment about Scare Tactics:
I’m confused about this feedback, but am receptive to it and would welcome an open discussion on it. Management, including myself, has consistently acknowledged and shown empathy during the challenging market cycle. Sales goals and expectations are part of any sales role. These expectations need to be clearly communicated by managers. Managers also need to support their team to meet and exceed performance goals. We’ve worked hard to keep the team together through the challenging market, including location flexibility beyond our traditional offices in our remote working environment.
Comment about outdated Tech:
Management has been clear and transparent about Forge’s goals related to technology enhancements, improvements, and investments in technology. This takes time, but I look forward to significant upgrades in technology delivered to our clients and employees later this year!
In closing, I value this feedback tremendously. Managers hold weekly 1-1s with their direct reports. We are always available to address concerns and support career development and advancement. I have spoken to the sales management team to remind them to ask questions about job satisfaction, concerns, and general employee happiness during their weekly 1-1's. I am always available to meet with all members of the sales team at all levels – please know you can reach out to me directly to handle these concerns in the future. Thank you for the valuable feedback. I am committed to making the necessary improvements that will benefit our employees and our culture.
Forging Ahead,
SVP, Head of Global Capital Markets
