HSBC Holdings Reviews in Vancouver, BC Area

Pros

Its big enough to offer security but retains a human dimension.

Cons

Salaries could be better. Also the Bank seems to be headed towards adopting a harder nosed policy towards personnel.

Advice to Senior Management

Move back to being a sound bank rather than a department store.

Pros

Interesting work when it's managed appropriately.

Cons

Complete and utter chaos, poor management, little accountability.

Advice to Senior Management

Make IT accountable for business objectives.

Pros

If you want to work for a behemoth organization and just be a face in the crowd then go for it. Before the financial crisis struck job security was fairly good, especially in IT where I worked so that could have been another reason lot of people, particularly in Vancouver, Canada remained stuck in their positions.

Cons

From an IT perspective, it's a career killer. The technology leadership team is incompetent and only acts as yes-men telling the CIO what he wants to listen. The Household team (includes the CIO) is in charge and they're trotting out the same dog and pony show before business year after year. IT is touted as a force for change but status quo reigns supreme and there's no clear understanding of what business benefits IT changes can bring. Bottomline, If you're looking for a dynamic, fast-paced, forward-looking career it IT, this ain't the place to work.

Advice to Senior Management

Business needs to seriously evauate why they keep on bankrolling IT to the tune of 6+ billions of dollars a year for systems that are obsolete, require armies of maintenance teams and in general, are too slow to respond to market changes.

Pros

-Major international name
-One of the few companies headquartered in Vancouver
-Recognition of work life balance
-Casual work environment
-Decent place to start out a career, especially if you are thinking of working globally in the future. Depends on what department or group you work for however.

Cons

-Promotion seems to be based on seniority rather than performance
-Underpay employees in relation to competitors
-Highly bureaucratic, many levels of hierarchy
-Still a minor player in Canada
-Current emphasis on cost-cutting
-Focus is always on costs, rather than a total cost-benefit analysis
-Lack of company social activities
-Lack of communication and tight-knit culture with fellow employees

Advice to Senior Management

-Increase compensation in order to retain star employees

Pros

Great colleagues who take the time to train you and to assist you with your job duties. Very knowledgeable senior managers with strong background in the industry. Good number of vacation days. Potentially strong bonus/incentive system. Well respected company with a strong credit culture.

Cons

Poor leadership. Very manual processes. Slow career advancement. Below average base salary compensation. Cheap/frugal culture even for a bank. Pay-for-performance culture is unevenly applied with a tendency to reward mediocrity. While the organization is the largest global bank in the market, there are still very limited opportunities to work in another country within the Group, except at the highest levels.

Advice to Senior Management

For your high-potential, strong performing employees you need to pay them closer to the market (base salary), provide them with advancement opportunities either within their current role or in another department in the company. Most importantly there has to be a real concerted push for improving the manual processes that prevent employees from effectively doing their jobs.