UMB Financial Reviews
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Pros
Good benefits, easy place to work.
Cons
If you are looking for career advancement look somewhere else. They will not train you, management only cares about itself. It's a good ol' boys club.
Advice to Senior Management
Practice what you preach, management constantly talks about hiring from within and training. It dosen't happen.
Pros
Easy place to slide by for those who are content with below avg individual performance. deSilva and Kemper are making improvements in the long-time chomatose system, but still have a long way to go.
Cons
Outstanding performers are not fairly recognized. They are very cheap and very old school. Lots of politics and plenty of perks for the good old boy network within.
Advice to Senior Management
Look at your Sr. Commercial Officers. Very poor leaders and have been the beneficiaries of being compacent in the Kemper system. deSilva and Kemper should drop some of the dead weight directly beneath them if they want more upward movement.
Pros
Good company with a strong conservative foundation that sets the stage for long-term success. Have a strong focus on technology and have always focused on diversified revenue streams through fee income products and services. Stayed true to their core geographic footprint. Good place to work if you're looking for reasonable stability (nothing is guaranteed forever), but not necessarily if you want to launch your career rapidly.
Cons
Smaller than bigger companies so opportunities for advancement are more difficult. Like all companies they need to make sure organizational walls don't get in the way of doing business correctly. Have always been a little cheap when it comes to rewarding employees.
Advice to Senior Management
Talk to employees more. Make sure employees are all focused on the vision of the agency and the role that everyone can play in making it come true.
Pros
Honestly, there are not a lot of good reasons. The 2008 Employee Satisfaction Survey showed another year of generally dismally unhappy employees. Less than 40% said they would recommend a friend or family member to work at UMB. There is always a big flurry of activity right after the survey comes out - management talking about the changes, etc. but very little actually gets done to improve the situation. The best I can come up with is that they do offer some flexibility for work life balance.
Cons
Where to begin?! As a regional midwestern bank, the firm's footprint is small, and name recognition for some of their businesses that they try to market nationally just falter because of their low name recognition.
Advice to Senior Management
show more respect for your employees - not just lip-service.
Pros
Patience is rewarded, strong financial perfomance among commercial banks.
Cons
Sub-market compensation,no incentive or bonus structure to non-sales employees, a culture in transition from toxic to productive lacking meaningful buy-in from key senior management, exhausting bureaucracy, strong executive management lacking strong number two's and three's to fill the empty promise.
Advice to Senior Management
Market compensation will retain key associates.
Pros
UMB cannot retain mid level managers, leaving huge holes in the organization. This creates an opportunity for new grads, or inexperienced transfers from other companies to step into responsibilities they would not be at other firms.
Cons
Pay and incompetent management. The target raise for the Investment Management division was 2.8% in the spring of 2008, with half above and half below. UMB already had most employees at below market salaries.
There are no general managers at UMB, this leads to people trying to do a task job and manage people, the communication is poor, training and career development is very poor, and overall the management of the company is inefficient.
The company is known for not telling employees what their bonus or raise will be until they see it in their paycheck, so there is no opportunity to discuss the decision if you don't feel it is fair. Formal performance reviews are very rare, and when they are done it is normally in relation to a bonus or raise and completed with no feedback opportunity for the employee.
Advice to Senior Management
Their HR system and general ability to recognize and reward employees needs a significant upgrade. Management is so focused on improving short term earnings that they are allowing the foundation of their business to rot out from under them.
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