Toyota Financial Services

  www.tfsc.jp
  www.tfsc.jp

Toyota Financial Services Reviews

Updated December 15, 2014
Updated December 15, 2014
100 Reviews
3.4
100 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Takuo Sasaki
33 Ratings

Review Highlights

Pros
  • Work-Life balance is very good, they recently made their same day time off program more flexible (in 14 reviews)

  • Good benefits, good tuition assistance program (in 9 reviews)


Cons
  • Does not promote based on merit (in 3 reviews)

  • Mostly due to the economy and initiatives to cutback, there is currently little room for growth/promotion (in 3 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Excellent place to work

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

    I have been working at Toyota Financial Services

    Pros

    Stability
    HQ interested in making associates happy
    Good compensation packages
    Good career movement if you are active and apply yourself

    Cons

    Going through a lot of changes
    Some of the merit programs and associate movement path isn't clearly marked
    Many associates take the high touch environment for granted - some negative associates/some who don't try as hard anymore
    Moving to Texas

    Advice to ManagementAdvice

    Continue doing what you're doing. Great company. Excellent place to work.

    Recommends
    Positive Outlook
  2. 1 person found this helpful  

    Cares about people!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Cedar Rapids, IA
    Current Employee - Anonymous Employee in Cedar Rapids, IA

    I have been working at Toyota Financial Services full-time (more than 3 years)

    Pros

    I have worked for a few corporations, and this is not like any of them! TFS actually cares about people. Also it is like a family and people really respect each other. Also, the benefits are great and the pay seems competitive. Best company I've worked for! Also, I love their "safe to speak" culture because it gives everyone a voice.

    Cons

    The recent announcement of the US head quarters relocation from CA to TX has not been great for employee morale, but the company is giving a really great relocation package to help. In general, I don't have many complaints.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    As big corporations go, this was a good place to work

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

    I have been working at Toyota Financial Services

    Pros

    I worked in Collections, so since there's always someone who can't/won't pay their loans, that industry is pretty stable. As a larger corporation, we had very good health coverage, training on-site at corporate headquarters, monthly birthday celebrations, and very nicely done corporate events. I worked there nearly 11-1/2 years before the collections departments were consolidated and our office moved out of state.

    Cons

    As a company/employer, not a lot; I did find that there was a lot of tolerance given to a couple particular managers who were very hard on some of their employees, and thought that they should have been more hands-on with protecting the plebes.

    Recommends
    No opinion of CEO
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  5.  

    Good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Band IV Manager in Torrance, CA
    Current Employee - Band IV Manager in Torrance, CA

    I have been working at Toyota Financial Services full-time (more than 5 years)

    Pros

    Great people. Great giving back culture.

    Cons

    Change is very....very slow. Innovation often stifled.

    Advice to ManagementAdvice

    Change old school mentality.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Customer Service Rep

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

    I worked at Toyota Financial Services full-time

    Pros

    Great company, they take care of there employees very well.

    Cons

    Its hard to get hired on permanently.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    The demise of a good company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Torrance, CA
    Current Employee - Business Analyst in Torrance, CA

    I have been working at Toyota Financial Services full-time (more than 10 years)

    Pros

    Free coffee? Free water? Free parking?
    Free cups for the coffee?

    Cons

    Company moving to Texas. I have heard that less than 40% of current employees will move from Torrance - that includes TMS.
    That means that Toyota will hire people in Texas.. Less quality people will be hired to replace current employees - ofcourse the new employees will be paid much less than Torrance employees - quality of work will decline. No more pension offered.
    It's a bad decision by Toyota to move to Texas..
    If Toyota really cared about their employees they would not be moving - this is all about moving to an 'employer' State, giving them an excuse to cut benefits (bye bye Pension), cut salaries, change PTO policies (bye bye sick/vacation time). Get rid of alternate schedules (bye bye 980 Fridays off)..
    Now I get that Toyota wants to make MORE money - since 40 + billion in the bank isn't enough... But they are going to be HURTING once they realize that NO ONE wants to go to Texas (less than 40% is a lot of people to replace).. Everyone knows it takes Toyota 4-6 months to hire 1 person - which is GOOD as it means they really look for the right person for the job.... However - they can't do that when they need to replace 60% of people to run the operation in Texas.. That means they have to speed up their hiring practices - basically change their 'requirements' so that people can be hired at a fast pace.. That's where the 'lower quality' of associates comes from... They will be hiring people from 'job fairs!' The employees that go to Texas are going to have to PICK up their game because it is possible that they will be doing the job of 3 while Toyota hires their replacement co workers - and knowing that they are hiring people who are less qualified the Toyota employee has to 'put up with' working with people who are less qualified.. It's going to be a tough road for those associates who are going to Texas... Sadly - those same 'loyal' associates are going to get everything cut, wages, benefits, quality of life.. And have to work very very very hard to maintain their job department until the new under qualified people get up to speed..
    Toyota promotes 'Respect for people'.. But no one knows what that means - it's merely a 'motto' that has no definition. There is no onboarding program to teach the Toyota culture - or 'respect for people'. It is just lip service. Toyota just expects people to magically know what the Toyota culture is.. But the 'culture' and 'respect for people' does not exist... I really wish it did exist and that Toyota put some efforts and money into teaching their culture.. It is very evident that 'respect for people' is non existent... Especially the managers don't understand or practice respect for people and if you complain to HR about your boss who belittles you in front of other associates or talks negatively about you to other people (departments) - or treats you like a criminal - HR will protect the manager.. And say 'your manager has not broken any policies or laws.. ' and if you argue about the fact that your boss is belittling you - HR will say 'sometimes bosses jerks'. And you say 'what about the company motto respect for people'. - HR will redirect you and tell you 'maybe you should worry more about your job and less about company mottos!'
    It's sad that Toyota had become this company that lies about what they stand for - and they have trained their HR staff to protect their managers and the company..
    The move to Texas is the ultimate slap in the face regarding 'respect for people'
    Good luck to those that are loyal and go to Texas.. You will find out that Toyota isn't loyal to you in return.

    Advice to ManagementAdvice

    Be honest.. You aren't fooling anyone with your fake words 'harmonize' and 'One Toyota'...

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Rigid but fair

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Account Representative in Torrance, CA
    Former Employee - Customer Account Representative in Torrance, CA

    I worked at Toyota Financial Services as a contractor (more than an year)

    Pros

    Job security, cool people, good perks if you're permanent, many experts in the departments, fun events, gym on site, good cafeteria with good variety, work-life balance, typically no overtime required

    Cons

    advancement is tough because of the static nature of the company. Strict conservative behavior expectations, many levels of bureaucracy

    Advice to ManagementAdvice

    better track for contractors to become permanent employees, relax the dress code for employees who have no customer contact, offer more perks to contractors instead of making them feel like step children of the company

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    Passive Aggressive Culture

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

    I worked at Toyota Financial Services as a contractor (less than an year)

    Pros

    I worked as a contractor - I've heard benefits are very good for employees.

    Cons

    They have a very passive aggressive culture....nice to your face but stab you in the back. I rather see people coming at me so I know how to deal with the situation. The will say their culture is very collaborative but I didn't find it to be so.

    Also, they treat contractors like second class citizens. I did not at all like working there as a contractor. They're afraid contractors will get credit for accomplishments so they keep a very tight leash on you.
    Employees seem to be very unhappy. They're very political.

    I did not find working there very inspiring or challenging. I finally left on my accord for a more challenging opportunity.

    I had an opportunity to go back for a very high rate as a contractor and I said "no thank you".

    They will not get rid of non performing employees so there is no room for movement. It's almost employment for life.

    Advice to ManagementAdvice

    Treat your contractors like the valued workers that they are. Contractors are needed in every company. Implement performance management system for employees where non-performing employees have to improve or risk termination.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Great benefits

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Collections Representative in Chandler, AZ
    Current Employee - Collections Representative in Chandler, AZ

    I have been working at Toyota Financial Services full-time (more than 5 years)

    Pros

    Benefits and great coworkers

    Cons

    Micromanaged, it feels like jail not a workplace, they took away collection incentives

    Advice to ManagementAdvice

    lighten up

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  11.  

    Passive- Aggressive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Owings Mills, MD
    Current Employee - Manager in Owings Mills, MD

    I have been working at Toyota Financial Services full-time (more than 8 years)

    Pros

    Benefits are fairly decent compared to some companies. The vehicles are great and most customers are loyal to the product. The name Toyota sounds impressive to most when you tell them that's who you work for.

    Cons

    Warped sense of diversity and inclusion. Not a safe work environment to give your well thought thru business opinion. Management does want you to speak up about issues and often covers up issues. The culture is passive aggressive which mean you constantly have to watch your back. The pay is below what other captives and automakers are paying for the equivalent position. I've been with the company for a number of years and have only been promoted once....super slow in awarding promotions. Not very diverse workforce at the manager and above level. Not many minorities in management roles and those that are have more qualifications than non minorities in management roles. Toyota does not value education and only experience if you've gained it thru working for them.

    Advice to ManagementAdvice

    Pay for performance like you preach and have respect for differing opinions which you don't. Stop taking so long to promote to the next level. You should not have to work in endless lateral positions before making it to the next level. Recognize talent and that there are a lot that work for TFS that are looking at other companies- Toyota is not all that. There are some major issues with the culture and no one is trying to resolving this for fear of losing their company vehicle, the perk that seems to draw most to Toyota.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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