Wachovia

  www.wachovia.com
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2 people found this helpful  

Management Training Vaccume

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Field Sales  in  Oakland, CA
Former Employee - Field Sales in Oakland, CA

Pros

Brand awareness, Nationwide company, Good reputation with Customers.

Cons

The "senior managers" acquired by virtue of the World Savings merger with Wachovia.

Advice to ManagementAdvice

Provide Management Training for senior managers, especiall former World Savings managers. Implement an MBO process; An administrative process whereby supervisors and workers jointly set goals and meet periodically to evaluate progress. Implement a "360 review process" where managers are rated by the people they supervise. This will reveal the depth and breath of the management problems at Wachovia. Require all managers to attend training that will identify and correct outmoded and outdated management practices that other companies abolished during the 80's and 90's. Lastly, stop promoting "top producing salespersons" into management positions unless and until they have completed an extensive EVALUATION of their ability to manage people, and have adheared to a rigerous leadership training curriculum inclusive of an evaluation process.

Other reviews for Wachovia

  1. 3 people found this helpful  

    good pay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Licensed Financial Specialist  in  Miami, FL
    Current Employee - Licensed Financial Specialist in Miami, FL

    Pros

    Upper managment is respectful and understanding when it comes to your personal life. Compensation is a plus when you do the work that is given to you. Time off is great becuase you get 2 weeks paid time off and 2 weeks family care. You can also contribute to your community 8 hrs paid per month. You just need to show proof you will be at the function that you state. The system you work with empowers you to complete various tasks without having to run to anyone or managment. If you like a challange then you should come work here.

    Cons

    The benefits are not the best. The only thing good about the benefits is the match 401k. Medical and dental is way too high.

    Advice to ManagementAdvice

    Be available more often.

    Recommends
  2.  

    Wachovia Corp. - At a crossroads for change.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Trust Advisor  in  Philadelphia, PA
    Current Employee - Trust Advisor in Philadelphia, PA

    Pros

    Above average salaries compared to the rest of the banking industry. Very good benefits as well.

    Cons

    Merit pay increases are small (2% average) and opportunities to advance can be limited depending on position and location.

    Advice to ManagementAdvice

    Fire many of them, as they helped cause the current state Wachovia is in. Senior/Executive Management has so tighten the screws and clamped down on expenses to the rank and file workers that it has become nearly impossible to generate new business. Also, the current problems with the bank have caused panic among some customers that are worried about the safety and soundness of the bank's solvency. Management is not as supportive or communicative in this area. Thus employee morale has taken a big hit.

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