Onit reviews

3.7

64% would recommend to a friend

(21 total reviews)
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Michael Farlekas

74% approve of CEO

64% positive business outlook

Reviews by job title

21 reviews

Reviews about "Compensation"

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1.0
Aug 17, 2023
Recommend
CEO approval
Business Outlook

Pros

Good collaboration opportunities, decent work/life balance, competitive salary

Cons

The company has toxic levels of nepotism and favoritism. At one point 4 of a VP's children were working there, and connections go a lot further than talent in terms of advancement. There's a sort of cult of personality around the COO, who can be uncomfortably aggressive. People have photos of him on their office wall with hearts drawn around his face and he once sent out a slack message inviting employees to guess which of their coworkers was pregnant. They have had issues paying bills in the past and do not seem to be on stable financial footing. Besides all of this, the product is slow and buggy.

4.0
Jul 17, 2023
Recommend
CEO approval
Business Outlook

Pros

This is for SecureDocs, which was acquired by Onit in 2021. Excellent team of people to work with at SecureDocs! Work life balance is great - and everyone really cares about each other and the company. The SecureDocs product is simple and easy to implement for clients. Customers LOVE the product and the team.

Cons

Things started to go downhill about a year or so after Onit acquired SecureDocs. We went through three rounds of “cost cutting” layoffs with some direct benefits impacted for all companies in the Onit portfolio (401k matching and annual raises frozen). Achievements of SecureDocs are mostly overlooked by Onit, while Onit themselves and other acquisitions in the portfolio continue to struggle and bring everyone down. Compensation is low by market value for many roles. Onit is beholden to their investment company K1. Can’t make decisions on their own or invest money back in the companies. Which is unfortunate because SecureDocs is a lean mean machine of long dedicated employees - that are now watered down between merging with two other acquisitions in the Onit portfolio. One of the acquisitions makes sense from a product perspective, the other does not. Roles have been consolidated for good and bad. The CEO, Eric Elfman - continues to drum up excuses as to why we’re not profitable. Doesn’t lack clear vision as to what beefing up the Onit portfolio means long term.

4.0
Jun 26, 2023
Recommend
CEO approval
Business Outlook

Pros

Great flexibility and management Competitive Pay Solid Benefits

Cons

Third round of layoffs recently occurred but the company is doing all it can to prevent future RIFs.

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