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Insurance Division used to be a good place to work when Widows, went downhill

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Anonymous Employee  in  Edinburgh, Scotland (UK)
Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)

I worked at Lloyds Banking Group

Pros

I was part of the Scottish Widows insurance subsidiary prior to the HBOS merger, subsequently LBG Insurance Division. For most of the time Widows felt like it had a strong identity and people seem proud to work for the company, albeit the usual frustrations of working for a corporate. There were many people there who were really dedicated and hard working and went way beyond the extra mile to do a good job, often at weekends.

Cons

My experience is since around 2008 was almost continual management rotation - executive/director level management coming in, trying to transform everything, moving to the next role and leaving a big mess behind after 12 to 18 months. This happened repeatedly, resulting in terrible staff morale and real operational difficulties and only got worse when the HBOS merger happened and senior management became even more focused on positioning themselves for structural change and the local identity that Widows had disappeared.

Board level management within the insurance division in Edinburgh could most politely be described as sub-standard: faceless execs, feared by many (that seemed to be a calling card of executive management in those days, being feared) sitting on the 7th floor amongst themselves.

Advice to ManagementAdvice

Stop thinking about positioning yourself for the next round of management changes and start caring about the people in your departments.

Doesn't Recommend
No opinion of CEO

194 Other Employee Reviews for Lloyds Banking Group (View Most Recent)

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  1.  

    Lloyds is not a people company, its only concern is making money as it's staff expense

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

    I worked at Lloyds Banking Group full-time for more than 10 years

    Pros

    Salary is fair but not market rate.
    Offices are well laid out and comfortable to work in.

    Cons

    The foundation of the company (workers) are not treated well and are not paid well which can cause issues internally.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Fulfilling but lacking in opportunity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Bristol, England (UK)
    Former Employee - Anonymous Employee in Bristol, England (UK)

    I worked at Lloyds Banking Group

    Pros

    Good people with positive outlooks.
    Good working locations
    Opportunities to impress
    Opportunities to learn
    Chance to travel around the UK and work in a retail bank undergoing a lot of change

    Cons

    The wok is not the most engaging and often you find yourself in the weeds too much without a lot of opportunities to grow

    Advice to ManagementAdvice

    They should look inside their organisationfor talent more often and ensure they are promoting the best regularly to ensure they keep hold of them

    Recommends
    No opinion of CEO
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