Heartland Payment Systems

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

5 people found this helpful  

Knee jerk reactions and constant change in pay for the benefit of the stock price

Current Employee - Relationship Manager in Memphis, TN
Current Employee - Relationship Manager in Memphis, TN

I have been working at Heartland Payment Systems full-time (more than 8 years)

Pros

Great State of the Art Service Center
Veterans employed on the sales force really know their stuff
Heartland works with many hardware and software companies

Cons

* Constant knee jerk reactions due to Wall Street never being happy no matter what numbers are posted.
* Management in the field cheats the system by installing accounts with a preloaded Visa gift cards on terminals that they load at their home office on new accounts.
* Micro-management brought to a new low by asking reps to fill out a spreadsheet that asks reps how much their bills are every month. Once that is complete, you have to fill out a business plan that states how many deals you will get each week and specifically from where (BNI networking, local POS dealer etc..). After that, you are asked to put in 5 new appointments per week into their CRM system. If you do not do this every Friday, you are harassed until you do.
* As recent as this week, management is asking if anyone wants to sell their portfolio back to the company. I guess the residuals that we earn each month are too much of a liability for this company and in order for their stock price to go higher they seem to ask for this but it seems this may be a repeat of August 2010 when they did a buyout against our will of 50%.
* Company has cut every in-field service agent that we had so now as reps, we have to do everything with no 5% pay (like we used to get). We don't even get a $50 service call UNLESS the Heartland Service Center asks us to go out to a location.
* We were sent custom recruiting cards to our home with our names on it so we can hand out cards to recruit people we know to this company. When they treat us this badly, why in the world would I ever refer anyone to work here?
* We are constantly being told that we work for an "ethical company" by upper management but at almost every turn, we are being screwed somehow, someway as sales people.
* Attrition is at an all time high due to Heartland's processing costs going up and we just can't be competitive anymore.

Advice to ManagementAdvice

Please stop with these requests for portfolio buyouts from us. Haven't we given you enough? We now service everything for no (5% extra residual), no signing bonuses' on ownership changes, no comfort of knowing that we will actually be paid lifetime residuals because you keep taking our residuals from mandatory buyouts & A/R balances that get above $2,500. And stop allowing this micro-management and bullying from managers. It's got to stop.

It's really getting old to be used by Heartland for the gain of your stock price and stock options that upper management gets. In fact, I like how on the Q1 earnings call, the CEO said this: "The rookies have higher averages than our veterans in terms of margin. And they're trained better, and they don't have a lot of bad habits that were learned years ago before we adopted this model". This is just completely wrong coming from our leader. If the veterans are so bad, why don't you just fire all veterans and work with just your rookies that are so much better? Oh wait, I know why, because you wouldn't have a company or any new merchants anymore.

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