HSBC Holdings
3.3 of 5 937 reviews
www.hsbc.com London, United Kingdom 5000+ Employees

HSBC Holdings Reviews

Updated Jul 6, 2014
All Employees Current Employees Only

3.3 937 reviews

                             

78% Approve of the CEO

HSBC Holdings Chief Executive Stuart T. Gulliver

Stuart T. Gulliver

(269 ratings)

62% of employees recommend this company to a friend
937 Employee Reviews
in

Review Highlights

Pros:
  • "The organizations offers decently fair work life balance and job security"
    in 110 reviews
  • "Work from home is always a plus, but you can't always do so"
    in 25 reviews
Cons:
  • "Terrible work life balance for a great deal of the employees"
    in 34 reviews
  • "Lots of senior management changes and their dedication in investing US is not clear"
    in 48 reviews
  • Show more review highlights

Reviews

    • Culture & Values
           
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    • Disapproves of CEO

    2 people found this helpful  

    Not for the little people.

    Customer Service Officer (Former Employee)
    Salford, North West England, England (UK)

    ProsNice people (staff grade), lax attitude towards development unless you want it, rarely overworked, easygoing approach to flexibility, overtime available constantly (voluntary), good number of holidays.

    ConsPoor pay and reward even of you achieve, or over achieve; poor quality management; belligerent senior management; culture of fear and persecution encouraged; management by spreadsheet; too much bell curve and Six Sigma; no job security.

    Advice to Senior ManagementThe gulf between what is on paper a good employer and what is happening on the shop floor could not be wider. Command structures need to be filled with those brave enough to speak their minds and capable enough to admit when they are wrong not simply bully, bully, bully. The pay for the majority of staff (the bottom three grades) needs seriously overhauling if any degree of loyalty is expected. The reliance on thousands of agency staff needs to be addressed as it creates a horrid two tier system which breeds abuse and dissent, as well as undermining the management messages. Finally a degree of honesty as yet unborn needs bringing into the world otherwise people will continue to read about their employer in the news and find out that a lot of what they are told at work is a bit less than true which affects almost every aspect of what people do. If people's loyalty isn't to be bought, it must be earned. At the moment managers are doing neither for their staff members.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    mostly bad

    Anonymous Employee (Former Employee)

    ProsGood office
    Nice break out areas
    good extra curricular activities

    ConsManagers are not good
    No transparency of ideas
    Stealing credit
    worst transport
    worst chairs not ergonomic

    Advice to Senior Managementwhen many leave cos of a manager its better to fire him/her
    rather than spend time and energy to hire train and absorb new talent only to lose them again..
    its a vicious circle..

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    Worse than I thought possible

    Premier Relationship Manager (Current Employee)
    San Francisco, CA

    ProsBenefits are average to good

    ConsLack of direction in the retail bank, lack of knowledge- the senior management team, the branch staff, the compliance group: all are generally clueless with no understanding of the products clients have and no communication between business lines.

    Advice to Senior ManagementUnderstand the industry you're in, and what your competition is doing. Telling your team to sell the value of an HSBC relationship is meaningless if you can't articulate the benefits yourself. Have a clear, consistent vision and explain the pay structure beyond saying bonuses are discretionary. Your competition is openly and honestly explaining to team members what they can expect to make if hitting target- they also treat their advisors as professionals that don't have to sell a credit card to each client; so much for being a "trusted advisor" in the eyes of a customer.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    work environment is not professional... too much of favoritism and office politics

    AML Executive (Former Employee)
    Hyderābād (India)

    Prosonly transport...
    clean environment.
    good parking area.

    Consyou have to lick the boots of your manager here...
    by mistake if you are on PIP due to some personal reasons..people will look you down as if you are not worth of anything..they will play with your self-esteem..HR people will least bother about you..
    they harass you by keeping you on PIP for almost 8 months..its really emotional and psychological harassment...

    Advice to Senior ManagementDo not look down on people who works under you guys,,,they are not your servants..

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Steer well clear

    Anonymous Employee (Former Employee)

    ProsWell known company - not much else!

    ConsManagement do not adhere to their stated values. No career progression. Terrible work-life balance. No training available. Offices are shabby and need a lick of paint.

    Advice to Senior ManagementChange senior management! Listen to the staff engagement survey results rather than consistently ignoring them

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Bad

    Anonymous Employee (Former Employee)

    ProsBetter than working at McDonalds, maybe.

    ConsClueless management and below market salaries.

    Advice to Senior ManagementPay your employees a fair wage.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    If you can think independently and are intelligent don't work here - you need to be a Stepford Wife.

    Manager (Former Employee)
    Sheffield, England (UK)

    ProsHSBC is great for customer service.
    HSBC has a fantastic reputation
    Senior Management are fantastic at steering HSBC to profitability and stability, and appear to have a 6th sense in accurately predicting ahead.
    You will be very well trained and develop new skills
    The majority of staff are very nice and helpful as people

    ConsHSBC are experts in brainwashing staff into believing that HSBC is the centre of the universe and their way is the right way. Life does not exist outside of the Bank. They are experts in spin doctoring.
    Very poor wages and poor promotional opportunities above a certain level
    Lack transparency in review process - its a popularity contest and is dependant upon how best you can suck up to your manager
    Lack of unbiased validation of personal achievements for performance reviews- this means that some individuals can massage the statistical evidence of their achievements to make it appear they are doing a better job than they are. Specific examples provided to the bank by me were brushed under the carpet and disregarded.
    Misuse of authority - a great deal of bullying - instead of embracing the skills of individuals, managers with inferior skills will suppress the individual to avoid being exposed themselves. The bank officially takes bullying seriously but seems incapable of preventin it.
    Very much a parent:child culture - managers condescendingly dictate to how you should feel, what your personal values should be. You need to leave "you" at the door and act as the person they want you to be in this unnatural, contrived environment.
    Far, far too much politics with managers putting their own egos before what is beneficial to the company or the customer. This must be very expensive for the bank with wasted effort, wasted time in meetings and wasted use of resource.
    The bank stopped undertaking general staff surveys years ago...... But now select a sample of individuals....... Read between the lines.
    Don't believe that your working week is 35 hours. "To show your conviction and commitment..." expect to work somewhere between 45 and 50+ hours per week (for no extra pay) travelling in your own time even if this takes 3 or 4 hours on the train to attend meetings or site visits, and setting off at stupid-o-clock in the morning..... And does the bank value this? Read between the lines.
    Most companies will say that their staff are their most valuable asset. HSBC does not appear to subscribe to this. Their policy appears to be one where they will make life difficult and intolerable for longer serving staff so they leave and can be replaced by new (cheaper) staff. They do not value knowledge, experience, skills, innovation. Don't get me wrong at interview they will test all of these, but they will knock any individuality out of you in the first 6 months. They must have unreserved subservience. "If you don't like the way we do things..... hard cheese.... Leave!" this is their attitude.
    The bank is unreceptive to feedback and arrogantly "knows better".
    I gave 3/4 of my working life to HSBC and feel stupid in that I have just realised how little they value you and I am horrified that they blatently do not even care that they do not value you. Moreover, many people you speak to seem to know someone who has had similar experiences with the bank and had to leave. The bank appears to have no humanity at all.

    Advice to Senior ManagementListen! Listen! Listen! And don't assume you know better.
    Look after the people and the work will look after itself.
    Customers should occupy the positions of first, second, third, fourth and fifth in priorities followed by staff on the coal face, not being relegated somewhere down the list after managers status, managers egos, and managers bonus payments.
    Scrap the current review process - it simply does not work and you are hacking off great staff who come in and just get on with their job, and do it very well, whereas less capable staff who know how to play the game and spend too much time feathering their own nest, appear to be valued more highly...... great in theory, but too open to abuse and misuse. Too easy to use as a weapon if ANY manager does to like you (peer group ranking..... Ha!! What a farce) Supporting evidence too woolly and inconsistent. Comes down to how much you can massage the ego of your line manager and suck up to the other managers. Appeal process too complicated and too daunting to the point where it is tantamount to having to prove beyond any shadow of doubt that you are not a liar (this is very insulting). The whole process is like trying to pull a Sherman Tank sideways.
    Stop abuse of authority - "I must be right because I am this grade. What can you possibly Know?". JFDI whether you like it or not. Whether it is honest or not.
    Start Adult:Adult culture and single status culture instead of parent:child (i have four grown up children - one of which is older than my former line manager)
    Start a compulsory 360 degree feedback process that has teeth.
    Stop suppressing entrepreneurial skills - this used to make HSBC great..... Not any more.
    For Goodness Sakes do something about salaries.... And don't continue to cut the pay of longer serving staff through the back door of pensions. My take home pay was significantly more 5 Years ago than when i left (and that's without factoring in inflation).
    I am lucky in that I do not have to work for you any more and I count my blessings every day (i took a significant pay cut to get away from you) But for the sake of the colleagues I left behind, LISTEN!

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    Make people work like machines

    Trader (Former Employee)
    Hong Kong (Hong Kong)

    Prosonly their brand name, that's all they have no values

    ConsMake people work like machines

    Advice to Senior Managementtreat your employees with respect, they are human afterall

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Unfit for purpose, highly dysfunctional

    Account Manager (Current Employee)
    Vancouver, BC (Canada)

    ProsPotential to move around globally, which is rarely taken up

    ConsLow pay in relation to competitors
    Dreadful and amateurish mid management
    Virtually no training for new staff
    Extremely low morale and high staff turnover

    Advice to Senior ManagementStop being concerned about screw up in the US, invest in staff, develop middle managers.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Senior Customer Account Rep

    Senior Customer Account Representative (Current Employee)
    Morristown, NJ

    Prosthe hours were very flexible.

    ConsThe pay is not comparable to other companies in the area

    No, I would not recommend this company to a friend

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