Freddie Mac – “Freddie Mac-African Americans beware!”

Pros

Ferddie Mac tries to foster a type of engaging workplace. Tries. I really feel they put an effort in. Unfortunately they have not been successful. Pros though: They have a generous downpayment grant for downpayment on a home-12K for closing cost or downpayment that is forgiven gradually until full forgiveness after year 5. It's a great program that allows folks to become homeowners.

Cons

Employees are not engaged. There are silos in the company. Imagine needing a report to get a your job done from another group, but that group refuses to give you the report. Then your manager would say, "well, they're not giving us any information, well we're not going to give them any information either!". It's amazing. You wouldn't think that it's one company sometimes. Promotions? Ha! If you are in the clique, expect frequent promotions. If you're not in the "cool group" or are a minority, GOOD LUCK! I'm not surprised that there have not been more frequent lawsuits against Freddie. For example: The trading group is made up of around 60 traders, and up until recently, there was only ONE single African American. This has just "April 08" changed to TWO.

Advice to Senior Management

Wake up. With the turnover at the company something has to give. Also, try to figure out why so many African Americans leave the company. Why minorities are not put in positions of power. Why ICMA, one of the most attractive groups (high bonuses etc.) is an almost exclusive white male affair. Be proactive, and good luck.