TFC Reviews

Pros

TFC consistantly develops their employees. It is a good place to work.

Cons

Having issues raising capital for the Financial Services Division

Advice to Senior Management

Keep up the good work

Pros

Up until the time of the announcement to liquidate the finance portfolio, Textron was a great place to work. Great team of talented employees!

Cons

Closure of financial services division

Advice to Senior Management

They hired great employees

Pros

Good benefits, great culture, many training opportunities. Made a point to keep up employee morale. Overall a good place to work.

Cons

Not really any cons other than some management decisions weren't the best for the long run. Should always consider the big picture.

Advice to Senior Management

Talk to lower level employees and get their input on solutions to problems.

Pros

good benefits and holidays, flexible work schedule

Cons

exiting part of business, micro management

Advice to Senior Management

don't micro manage

Pros

Flexible schedule that equals good work life balance. Lots of good people.

Cons

Processes are sometimes inefficient and hard to implement.

Advice to Senior Management

Ok

Pros

Learning opportunities are outstanding, high potential employees have sufficient opportunities to advance but may require relocation, wonderful opportunities for Six Sigma

Cons

there is a lack of communication between management and employees. advancement is entirely employee driven. The company is shrinking due to the liquidation of its non-capitve business

Advice to Senior Management

Keep your employees informed and allow your middle mangers to actually direct the employees the manage.

Pros

TFC had a great bonus program.

Cons

Terminally effected by the recession

Advice to Senior Management

Be sure that managers are treating employees fairly, humanely and with respect. TFC lost this good employee because of manager betrayal and other unprofessional conduct.

Pros

Good pay and benefits, left alone by mgmt. Good support from management.

Cons

Shut down commercial finance division, liquidating portfolio. Communication from management could be better.

Advice to Senior Management

Don't make political decisions on who to retain. Should have tried to ride out the storm.

Pros

If you work at TFC you will be exposed to new technologies on a regular basis. You will also have a relatively great deal of responsibility in short order because it is a lean shop.

Cons

Management lost its technical chops long ago and now rewards only the employees with good soft skills such as writing specs, project management, etc. , not the technical innovators. It is a vicious cycle because rising management just doesn't 'get' technology.

Advice to Senior Management

A technology based company has to invest in technical innovation and innovators by planning for it, rewarding it, and providing an upward path for technically adept employees.

Pros

Textron Financial's group-level and division-level management remain accessible and aligned with the interests of their employees. Management below the senior level is attune to the market, their employees and extremely well-qualified.

Cons

Textron Financial's senior-level management in Providence have not done very well at navigating the current financial environment, and in particular have failed in their duty of convincing Textron Inc. of the future and purpose of having a diversified financial services company as part of an industrial conglomerate. It's unfortunate to see such a solid company with strong division and group presidents be essentially eliminated because of a limited number of bad loans and overreaction on the part of TFC's parent company.

Advice to Senior Management

Increase the pace of decision-making. Decentralize the credit decision process so that people who understand the products make the decisions, and generally give the divisions and groups more autonomy.