HSBC Canada
3.0 of 5 147 reviews
www.hsbc.ca Lethbridge, Canada

HSBC Canada Reviews

Updated Jun 20, 2014

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3.0 147 reviews

                             

100% Approve of the CEO

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Paulo Maia

(3 ratings)

48% of employees recommend this company to a friend
28 Employee Reviews Back to all reviews
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    Could be good but isn't

    Anonymous Employee (Current Employee)

    ProsWork / life balance is OK. Employees at my level are actively encouraged to work from home 1, 2 or 3 days per week. During the day there's a lot of freedom to go about doing your thing without having people hover over you. As an employee you're treated as an adult with appropriate give and take.

    The company is also by far the most global I've ever been a part of. Many companies claim to be global by nature of having offices everywhere. But at HSBC there is far more global collaboration than what I've experienced elsewhere. If you serve your time, there are opportunities to move internationally as well. The majority of people I work with are not from Canada even though we all work out of the same office now.

    On the whole, corporate values are fairly open. Right now for example, HSBC is sponsoring a few events for World Pride. Internally there are posters encouraging employees to participate in Pride events as well. World Cup 2014 is currently in full swing in Brazil and many employees are taking full advantage of excellent TV coverage to watch games, participate in pools etc. So there is definitely a light-hearted aspect of HSBC which is embraced.

    ConsI consider my pay to be low. The time-off policy is not overly restrictive, but it's an oddity to me in that you get x days off (depends on seniority) but if you're sick that counts as time off. So you're not supposed to take 100% of your time off as vacation, but rather leave a day or 2 "in the bank" just in case you get sick.

    The biggest con of HSBC Canada though is that there's no sense of urgency in anything and thus no sense of direction. To me it feels like I'm working with a gigantic blob of Jello. The mass kind of jiggles and moves in a direction that's roughly forward, but it's really slow going. And when you contribute your bit, the mass just kind of jiggles some more without really feeling like there's forward momentum.

    Without a sense of urgency, everything just slows down as people ease up. So we end up doing stupid things like creating spreadsheets which then need to be manually copied to Powerpoint which then gets emailed out as an update which no one really pays attention to anyway. But hey - we have a deck and somehow that's perceived as being a Good Thing.

    People development does not seem to be a priority either. As a new hire I was thrown 20 or so web-based trainings (which taught me nothing new really) and I got to attend a couple of conference call / trainings. Other than that, I find I need to rely on my own initiative to learn how stuff really works at HSBC and who does what. There is essentially no formal training for on boarding a new employee and as far as I can tell, no policy for internal training let alone external third-party training courses. I suppose if I build a case and ask I might be allowed to attend some course somewhere, but it's up to me and my initiative. I don't think HSBC will proactively initiate training unless it's another web-based compliance thing.

    Advice to Senior ManagementStop planning everything to the most minute of details. We don't **need** a Powerpoint for everything! Sometimes discussing a plan then moving to execution is OK. There are too many people who hide behind the excuse of "we need a deck".

    Another thing to do is ease up a bit on the culture of compliance. Compliance with relevant laws is an obvious must.But how we do it matters. We should not be overly compliant at the expense of making it too hard to do business with us.

    No, I would not recommend this company to a friend

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    A lot of frustration with inefficiencies, poor management

    Anonymous Employee (Current Employee)

    ProsInternational opportunities and network are helpful. Lots of training tools internally and good learning experience in the short term

    ConsLots of sales pressure, compensation is not always reflective of performance, a lot of inefficiencies which create unnecessary work loads.

    No, I would not recommend this company to a friend

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    Too many structural/process changes in recent years and to date that negatively affect the client.

    Premium Banker (Former Employee)

    ProsHealth/dental/insurance and pension plans were decent compared to other FIs.

    ConsLow salary and bonuses with high sales expectation regardless of which demographic you live in. Same goals across the country. Credit processes take too long, branch has no authority to approve credit or overdraft reports, no longer account managers or relationship managers in bank unless Premier which not all branches have. End result, a lot of unhappy customers especially long term loyal customers.

    Advice to Senior ManagementManagers should have minimal educational backgrounds and have leadership/management training. Not just inherited positions due to structural changes. Good leaders can make all the difference for employee job satisfaction and employee retention.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Horrible

    Premier Relationship Manager (Current Employee)

    ProsNice people
    Hard working employees
    Offices look nice - HSBC has spent a lot renovating the branches
    Some managers are very knowledgeable

    ConsNo training, confused management, lack of direction, system is from the stone ages - everything is kept in PAPER FILES so things are always getting lost - important documents getting lost all the time, it is CHAOS, people work way over time and are expected to do so - its the only way to get things done since everything takes 10 times longer than it should because everything is MANUAL. Piles and piles of paper work. Product pushing,

    Advice to Senior ManagementSee: CONS

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    1 person found this helpful  

    Provided my foundations of banking, albeit with little training.

    Account Manager (Former Employee)
    Waterloo, ON (Canada)

    ProsFast paced immersion into the field and real pros at L&D;
    Excellent benefits and banking packages, especially compared to Canadian banks;
    Share save program

    ConsLow pay;
    Poor management;
    Poor oversight of management;
    Big changes directly affecting employees kept in high secrecy;
    Frequent firings and resignations, high turn around and heavier workload on those who remain;
    Prefers external hires for proportions;
    Branch managers have limited k owl edge and too much control;
    Branches exhibit highly negative environments perceivable by clients;

    Advice to Senior ManagementTake HR complaints seriously! When a branch loses 10+ employees a year in a branch of 15, investigate management. Champion the implementing of the diversity initiative... Racism homophobia runs rampant.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Personal Banker at HSBC

    Personal Banker (Current Employee)
    Richmond, BC (Canada)

    Pros-Easy to get in
    -Good clients

    Cons-Managers picking favourites
    -When making referrals, IRs are slow at their jobs and have to book at a later date

    Advice to Senior Management-Help promote the younger staff
    -quit picking favourties
    -increase diversity rather than picking cantonese speaking IRs and chinese speaking IRs

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Complete and utter frenzy of ineptitude

    Anonymous Employee (Former Employee)
    Vancouver, BC (Canada)

    ProsThey pay you on time.

    ConsThey continue to over work and undervalue and underpay all their employees. You're not an employee, you're their slave.

    Advice to Senior ManagementThe answer to increasing revenues is not to lay off all your employees.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    HSBC Bank Canada

    Clerk (Current Employee)

    ProsInternational opportunities
    Health and dental benefits
    Pension and savings plans available
    Vacation days from 15 to 30 weekdays

    ConsBureaucratic - many decision-making are at discretion of manager, often find managers using discretion for own purposes (i.e. not allowing career advancement due to poorly planned succession)

    Underpaid - there's not really a clear objective set.. again at the discretion of manager.

    Yes, I would recommend this company to a friend

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    Unefficient Working Environment

    Premium Banker (Current Employee)
    Richmond, BC (Canada)

    ProsHSBC provides good benefits and paid vacations. I appreciate they greatly contribute to build a green company building to help taking steps to sustain our environment.

    ConsToo much sales pressure. Lack of communication between departments. System is not streamlined. Spending too much time on paper work and doing repetitive work.

    Advice to Senior ManagementShould overcome system obstacles in order for employees to work efficiently. Employees are burned out because we are constantly short of staff.

    No, I would not recommend this company to a friend

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    Good first job, just don't expect promotions

    Senior Analyst (Current Employee)

    Pros- work remotely
    - good benefits
    - international opportunities

    Cons- Long long hours with no OT pay since everyone is considered a "manager"
    - Below industry pay by about 15%, Raises are minimal. Bonuses vary greatly year to year
    - Pay for performance is a joke
    - Annual review and rating process is not transparent. You are compared to other employees up to 2 positions above your own, yet you will never know exactly how you compare to the other employees

    Advice to Senior Management- promote internally and hire externally for entry /lower positions
    - be transparent on annual rating process

    No, I would not recommend this company to a friend

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Glassdoor is your free inside look at HSBC Canada reviews and ratings — including employee satisfaction and approval rating for HSBC Canada CEO Paulo Maia. All 28 reviews posted anonymously by HSBC Canada employees.