Charles Schwab – “Schwab Lacks Career Development”

Pros

People are friendly and vacation and sick time are generous.

Cons

There is no career path or career development. Marketing runs the company but they don't have an effective process for rolling out new products/services, that leave everyone scrambling to meet the client experience. It's still a culture of individual heros and a 1-2 on the maturity model.

Advice to Senior Management

Put together true career development, starting with the VP's. They need to have more experience outside of Schwab. From there, it needs to flow downward. You are limiting the company's future growth by not strongly enouraging employee growth. Look at GE, for example.