Heartland Payment Systems

  www.heartlandpaymentsystems.com
  www.heartlandpaymentsystems.com
There are newer employer reviews for Heartland Payment Systems

 

It has been a financially rewarding experience over the last six years.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Senior Relationship Manager
Current Employee - Senior Relationship Manager

I have been working at Heartland Payment Systems full-time (more than 5 years)

Pros

Great service center support and excellent technology.

Cons

Lead generation by the company does not seem to exist.

Advice to ManagementAdvice

Develop, execute, and maintain a system to sales leads.

Recommends
Positive Outlook
Approves of CEO

252 Other Employee Reviews for Heartland Payment Systems (View Most Recent)

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  1. 4 people found this helpful  

    No longer a sales driven organization, it's all about the stock price and earnings..

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Relationship Manager
    Current Employee - Relationship Manager

    I have been working at Heartland Payment Systems full-time (more than 5 years)

    Pros

    Calls at Heartland Service Center are answered in less than 6 seconds by a LIVE person.

    Heartland has great technology which allows me to sign up pretty much any merchant who has any type of equipment or POS system.

    Cons

    Merchants must pay the shipping to return a rental terminal to us.

    Sales Compensation is constantly dinging us for site inspection fees, install fees, NRA fees and the negative true ups that occur when a merchant leaves their contract before one year. Many times merchant's leave because of something that Heartland did (delayed funding, mis-billings, holds on large transactions that don't get dealt with immediately, letters that get sent out from Heartland to the merchant, wrong information given to the merchant by the Service Center etc...).

    Heartland's costs are much higher than the competition so as reps we have to charge a much higher cost to our clients so we aren't as competitive as we used to be.

    Unsuccessful reps are now in positions of power and they hold training classes on how to sign business above the $6,000 minimum yet when they were reps, they were never even successful as an RM/Sales Person. What are we going to learn from these people if they were never able to accomplish their sales goals?

    Veteran reps that used to be all-stars are now gone and I have to now compete with them in the field. This is just a tragedy and I can't believe that Heartland ran off the most educated in our industry.

    Constant changes nearly every 2 weeks that somehow affect the sales people's pay or some policy that forces us to give up partial control of our customers to Heartland's Service Center. We are no better than First Data if you believe that some guy at a call center is better than me at saving merchants from leaving Heartland. This is just plain dilusional. I am paid a residual on these accounts so I have "skin the game" and always give 120% to save an account. If our CEO feels otherwise, he needs to go with me and many others on an attrition call. Attrition is a natural part of this business and believe me, you have serious yahoos on the Portfolio Mgmt Team that have never sat with a merchant in their life to try and save them.

    Advice to ManagementAdvice

    Stop cutting our pay as sales reps. Stop the condescending attitude and tone that you use when speaking to us through Atlas and on News and Views calls. Respect is earned not demanded. When you demand respect, you are now a dictatorship.

    Take the compensation plan back where you had it years ago. 20% residual across the board and no junk fees charged to my A/R balance like site inspection fees and install fees. Get rid of the revenue sharing that exists with the National Restaurant Association. This is killing your resaturant sales. If I have the option to sign a restaurant or a retail account, I'm going for the retail account so I don't have to "revenue share" with the NRA. There was a restaurant opening near my home and I never stopped in because I know how little money I make on restaurants with Heartland.

    When calculating a negative signing bonus true-up on a merchant that has left before 1 year, go back to the old way where you pro-rate the signing bonus based on how many months out of 12 that the merchant completed.

    Portfolio buyouts should not be based on your discretion, they should be based on our contract that was written years ago not the one you have updated to suit your needs. This is now a one-sided contract and yet, you "sell it" as "long term wealth for our families". It's not long term wealth for my family when you can sell it out from under me anytime you wish to please your Board of Directors or to pay down my A/R balance that went above $2500. You constantly put "hoops" in that we have to jump through in order to get a portfolio buyout: No more than 1 buyout per 6 months, attrition must be lower than company average and the moon and stars must line up. The odds for this are worse than an NFL football bet on Superbowl.

    Please stop mico-managing us with business plans, daily emails that have to be sent to our managers and then afternoon follow ups with our managers. This is just nonesense and is totally unproductive. Many RM's just send the email every morning to appease the manager and then in the afternoon, they just tell the manager that their "plan" didn't work out today. It's straight commission sales not a salaried position. If we don't sell anything, we don't get paid.

    Stop laying off AM's and then not adjusting our residuals to give us back our 5% servicing that we are now doing because you laid off the one and only AM that we had. If this AM program is "costing you too much", think about this, you didn't have to pay for it! You took that 5% from all the RM's nationwide more than 5 years ago and never looked back.

    All the changes you have made have negatively affected sales and the morale at this company. Don't blame us for low sales or lack of enthusiam, blame yourselves for the poor job you have been doing for years. Just due to the micro-managing and daily reporting alone, many RM's are now entertaining offers from other companies whereas before, they never would of dreamed of leaving Heartland. Now they are looking at their next steps to move on. Please do the right thing and go back to when you treated us as the sales engine of this company, not the red-headed stepchild that deserves to be beat down. We have been loyal, honest and have the utmost integrity so we deserve to be treated as such.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 6 people found this helpful  

    HPS is an entry level company into the payments industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Division Manager
    Former Employee - Division Manager

    I worked at Heartland Payment Systems full-time (more than 8 years)

    Pros

    Good tecnology. The HPS front end "EXCHANGE" is a really good front end. Seems to communicate faster than most front ends for authorizations.

    Portfolio Manager (sales persons web interface) is very savvy.

    Very nice service center in Jeffersonville, In. Phone support people are usually very helpful to merchants.

    Cons

    Everything financial (for sales employees and for merchants) is what is lacking at HPS.

    There are many reasons that HPS has gone down hill fast from a sales employees financial standpoint. The biggist reason being is that they are now a public company and EVERYTHING the company does is motivated by raising stock holder value. This is the same as many public companies, it's just that so many people remember HPS before it was soley driven by it's stock prices. The company was once very good to the sales people as well as the merchants. The company was actually built on that and the authenticity shined right through to results. Sales force grew to over 2,000 nationally. It took a series of taking the sales force for granted that finally resulted in a mad dash for the door. Nearly all top producers left for better models and the few that remain went into management to make money off the greener Heartland sales force. Through many adjustments to exihibit E, as well as many reductions in sales compensation, and new policies initiated that result in less pay, Heartland simply doesn't compete in thier compensation model with the rest of the industry. The sales force actually pays for national and state industry endorcements through a direct deduction in thier personal pay. Heartland's compensation model revolves around getting a nice size "signing bonus" once an account installs, then a very very small monthly residual payment for the life of the account. This is good business for HPS because the "carrot" is the signing bonus and residuals grow at a snails pace for sales people. This is bad for the sales employee because real portfolio wealth will not ever be achieved with the current business model. Division Managers and Regional Directors can still make really good money off of the collective work of the newer relationship manager population below them. Probably 90% of veterans (with the company more than 6 years) are in management. Talented sales people simply do not stay with HPS because the model is geared to make the company a great deal of money and very little comp for the sales person. The industry has changed but HPS has not changed with it. ISOs of today have very low costs (the same or better than Heartlands) yet todays ISOs pay the sales person the majority of all margin created. Heartland has done the opposite. It has increased costs to thier sales force and majorly reduced pay.

    Some that post on this site have really personalized how HPS treats the sales force today. I understand why, but HPS is no different from any other shareholder driven corporation in the USA today. They do not care about people, and all eyes on the NYSE as the bell rings.

    Advice to ManagementAdvice

    If your objective is soley to continue to raise shareholder value, then continue doing exactly as you are. You are doing a fantastic job! With less sales, less sales people and less merchants in your year over year portfolio (according to public records), the company manages to achieve higher profits regardless. Charging merchants a lot more and paying human sales vehicles much less is a simple strategy for "beating the street". Wall Street that is. It has been working very well for HPS, so I recommend continue doing exactly as you are.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
There are newer employer reviews for Heartland Payment Systems

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