Canada Mortgage and Housing Corporation (CMHC) "pension" Reviews | Glassdoor

Canada Mortgage and Housing Corporation (CMHC) Employee Reviews about "pension"

Updated Apr 12, 2019

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2.9
50%
Recommend to a Friend
51%
Approve of CEO
Canada Mortgage and Housing Corporation (CMHC) President and CEO Evan Siddall
Evan Siddall
88 Ratings
Pros
  • "The new results oriented work environment means you can work from anywhere (home, another city etc(in 15 reviews)

  • "Interesting work, great work-life balance, awesome colleagues(in 13 reviews)

Cons
  • "CMHC says it learns from its mistake but rarely will HR communicate the process to amend decisions that impacted employees(in 14 reviews)

  • "Recently took away some pension benefits(in 13 reviews)

More Pros and Cons

Reviews about "pension"

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  1. Helpful (24)

    "The blind leading the blind"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Systems Specialist in Ottawa, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 5 years

    Pros

    Total Compensation - You'll be hard pressed to find better base salaries, bonus pay & benefits in the private or public sector, which is the main thing holding a lot of disgruntled, tired and stressed out employees in place. Flexibility - As dysfunctional as it may soon become, the ROWE(tm) philosophy provides near-unlimited freedom to come and go. Career opportunity - If you are not one to count your... hours, have lots of personal time to devote to your career and play a strong dog-eat-dog corporate game, you have excellent odds of moving up the ladder fast. Noble mission statement & objective - One can get a sense of making a difference or some form of contribution for the benefit of all Canadians.

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    Cons

    - Perpetual state of change - Change is good. Change is needed. But never-ending change is unhealthy even for those who embrace change. There is no time to let anything sink in, let alone fully complete one wave of change before the next one comes, and then the next one, and then the next one. Examples include CMHC in motion (aka com-motion, or de-motion, or motion sickness); Technology and Business Transformation;... Career Framework; reorganization #1, 2, 3, 4, ROWE(tm). When working on TBT projects, employees and consultants openly compare the process to "learning to fly a plane as we are building it", which says a lot. Employees are provided a mental health help line and increased psychotherapy coverage, but it would be interesting to know the (seemingly increasing) number of employees who went on short term disability due to stress and how much cost (to the business and insurance company) that translates to. While the newly branded "Career Framework" drove most employee's salary down, somehow the Executive Committee members saw their salary (and corresponding bonus scheme) go way up. - Top heavy hierarchy - Employees are encouraged to contribute their ideas and provide feedback to their immediate supervisor, but communications are stifled and pushed from the top-down. Messaging is carefully controlled. VPs praise anything the President says or does (otherwise they risk getting axed) and Directors in turn praise their VP. From an employee perspective, providing ideas and constructive feedback to your supervisor or through the platform-of-the-day seems to go absolutely nowhere. Employees are either afraid to speak up or critique any decision, or their comments are heard but not listened to. Employees were given a list of corporate values and told to "have fun everyday" and "ask why", except when you start questioning too much then clearly you are not walking in line with the corporate values. - Buzzwords - when overused, or use inappropriately, many words can start to lose meaning. For instance: > "Transparency" is what middle and upper management claim once they have completed a transformation process behind closed doors and provide employees with an update. > "Resilient" is a word used to describe how CMHC employees and how they adapt to change; children who grow up in dysfunctional/abusive households also become resilient but it doesn't mean it's a good thing. > "Priority" is supposed to help organize important tasks or projects, except that can change entirely based on who you spoke with yesterday, and who you speak to tomorrow. > "Accountability" is what you are responsible for delivering. It keeps on getting pushed down onto employees, especially now that ROWE(tm) doesn't care how or when you work, and Managers are now "Performance Coaches". The organization has never been able to clearly identify/define deliverables/timelines, which are now the standard against which to measure performance. > "Innovation" is what everybody is told they want to be doing, but no one knows what it is or how to do it. > "Leadership" is what senior management extols when in reality their behaviour is more lemming like. - Quarterly pulse-check surveys - The pseudo-anonymous feedback mechanism through which employees can share their own views on level of morale and opinion on the pace of change. The percentage based measuring scale not only makes little sense to respondents, but the results are interpreted by senior management in the most obscure, self-serving way, looking at percent change since the last survey as opposed to paying attention to the overall low/negative ratings. - Sacrificing quality - When your workload keeps on increasing or you become spread too thin, and the environment keeps on changing, you are literally asked to provide "quick and dirty" deliverables. - Work-life integration - Work-life balance with clear boundaries where work stops and personal life begins is a notion of the past; ROWE(tm) brings about seamless work-life integration where you have all the freedom to make work an active part of your personal life, 24/7, no more boundaries. I had the misfortune of starting employment with CMHC at the same time as the [then] new President. I had heard great things and had great hopes for my career within this organization. Except he has been on a mission to *RADICALLY* transform the corporation for the last 5 years. When his extended term ends in a few years, his balance sheet will probably look incredible and I imagine he will be rewarded with a significant bonus for his outstanding contribution. He will unfortunately be leaving behind a shell-shocked organization with diminished resources and ability to deliver any sort of coherent or quality results. The drastic cuts to many overhead expenses (e.g. outsoucing IT, compressing 1.7 employee per desk, inviting numerous veteran employees to retire with changes to pension plan, the Career Framework, etc.) look like a textbook example of striping something down to its bare bones with intent of selling it for spare parts (for privatization maybe?). Appointed under the previous government, it is simply astounding to see this continue with zero scrutiny from the current government. It is also surprising no one has started a union movement, although that requires serious commitment and can easily lead to termination; or maybe someone has and they were silenced. This has truly become one of this country's best/worst Clown-Corporation.

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    Advice to Management

    Management needs to grow a back bone and start pushing back, say enough is enough or face a continued talent drain. HR should (but likely wont) side with employees for a change and stop accepting the ongoing revolving-door staff turnover.

    Canada Mortgage and Housing Corporation (CMHC)2019-04-12
  2. Helpful (29)

    "No real Strategy lots of Tactical Experimentation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time

    Pros

    Making a difference in housing

    Cons

    Flexible work arrangements forcing people to work beyond legislative working weekly hours. Tactical experimentation with orginiztion structures destroying unity of command and efficiencies. Completely abstract view of what the company is really supposed to do show complete managerial disorientation. Lack of qualified Business Graduates amongst the top management is leading to poor leadership and guidance of... the worker bees. Pension is not the same as other public service departments. Three different pension models tried in past 6 years, goes to show how poorly each decision was taken without an consequences for Executives making poor decisions. Board seems to not worry about such poor and adhoc decision making

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    Advice to Management

    Hire quality talent in the executive positions with experience in commercial organizations.

    Canada Mortgage and Housing Corporation (CMHC)2019-03-16
  3. Helpful (26)

    "High performing but at what cost?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Specialist in Ottawa, ON
    Positive Outlook
    No opinion of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 8 years

    Pros

    Passionate employees Important mandate New strategy, could positively impact Canadians in housing needs in the short and long term High performing workforce

    Cons

    Change is needed, but frequent changes to employees compensation package such as the career framework, pension reduction and other benefits make it difficult to maintain engagement especially for strong performers. Many feel that job security is no longer a reality and this hurts morale and affects the trust we have with HR and senior management. Too many low performing people leaders that seem to be lacking proper... support or not being monitored to ensure they are progressing. Many people leaders put in important roles without the proper human skills. CMHC says it learns from its mistake but rarely will HR communicate the process to amend decisions that impacted employees. The career framework is a good example, not all positions were properly assessed but bringing forward these issues seems to be discouraged or at the very least the process to have a position reviewed is not broadly shared to staff. Unrealistic timelines for key projects. High level of pressure from the top to get things done quickly which causes inefficiencies due to poor planning and lack of collaboration internally and externally.

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    Advice to Management

    With the new strategy, we need to maintain our skilled, knowledgeable and performing employees. Consult and engage staff on new HR processes before they are put in place.

    Canada Mortgage and Housing Corporation (CMHC)2019-01-04
  4. Helpful (7)

    "It’s alright"

    StarStarStarStarStar
    Current Employee - Anonymous Employee 
    No opinion of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time

    Pros

    Flexible working hours Social mandate

    Cons

    Recent changes in HR limits your salary and growth potential CEO likes to make significant changes to the corporation constantly Have had a massive laid off before Recently took away some pension benefits Cost cutting constantly

    Canada Mortgage and Housing Corporation (CMHC)2018-12-03
  5. Helpful (25)

    "Used to be a great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Ottawa, ON
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 3 years

    Pros

    Free parking, subject matter is interesting, work is challenging and corporate vision is inspiring.

    Cons

    Pension benefits were reduced previously. Now, new compensation structure and categorization of roles into fewer, wider pay bands (with lower starting salary figures) has the ultimate effect of limiting salary earning potential in future years. As a result of the new compensation structure, professionals with technical expertise are underpaid compared to market peers. Despite this, work/life balance has disappeared... - due to employee turnover and constant understaffing for the department workload. For such a profitable company, they do not seem to be valuing staff from the recent cost-cutting measures taken.

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    Canada Mortgage and Housing Corporation (CMHC)2018-04-12
  6. Helpful (23)

    "CMHC workplace survey tells all"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Ottawa, ON
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 5 years

    Pros

    Parking, food services, office space, laptops

    Cons

    CMHC surveyed their staff on the workplace and shared the results: “58% of employees describe CMHC as a psychologically healthy workplace”. Which means that nearly half of CMHC employees consider the workplace as psychologically unhealthy. That is not what a good place receive. The 58% is inflated as well because a huge number of recent abrupt retirements in 2017 (to escape the pension changes), and massive amounts... of people quitting or getting fired, resulting in boat loads of new employees every month, many of which will normally have the naïve optimistic outlook that is not yet informed by reality and making surveys look too good. Also the survey indicated “19% witnessed a co-worker being harassed”, which is likely grossly understated as harassment is often not observed or reported, so reality is expected to be much higher. The culture has an old-world authoritarian rank-and-file style (welcome to the army) where leaders enjoy getting away with abusing their employees with impunity. Harassment is rampant. CMHC likes to parade its poster of 10 values, which is a dark joke in fact, the list is the President’s wish list and not the present values. The President seems sincere to want to change things (with some questionable tactics), but he is like a voice in the wilderness compared to the reality faced.

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    Advice to Management

    They need a completely different and more rigorous approach to hiring leaders and evaluating them.

    Canada Mortgage and Housing Corporation (CMHC)2018-04-21
  7. Helpful (38)

    "VERY BAD CEO"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Development Officer in Vancouver, BC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 5 years

    Pros

    Pension accumulated pre Evan Siddal has not been reduced (probably tried but was unable to change it)

    Cons

    Everything this President has touched so far such as: Reduction of our pension phase 1 with a promise it would be the final change Reduction of our pension phase 2 without any explanation Elimination of our severance pay and the latest, what he calls a Career Framework which is the most hypocritical change he has done so far.. this is in reality a huge cost voting exercise where most of the employees will... see their salary increase coming to a halt for many years. Employees are expectected to say thank you Mr. Siddal .

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    Advice to Management

    No advice. Most of the managers are brainwashed and follow the orders in fear of being fired. Hundreds of employees have been fired so far. Would not recommend this organization until the current CEO leaves.

    Canada Mortgage and Housing Corporation (CMHC)2018-03-05
  8. Helpful (28)

    "Was a great to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 10 years

    Pros

    Nice office and co-workers are great

    Cons

    Basically new pay scale is much lower than previous Pension benefits decreased Constant re-alignment - staff are exhausted with changes, no stability Few advancement opportunities, external new hires brought in Company does not seem to value staff

    Advice to Management

    Give opportunities to staff before hiring from external - this will increase morale Stop changing pay and pension - we are all tired of our earnings being eroded

    Canada Mortgage and Housing Corporation (CMHC)2018-02-22
  9. Helpful (23)

    "It is very sad to see so many members of the National Leadership team being told to leave ..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Finance in Ottawa, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 5 years

    Pros

    Free parking Tim Horton We used to have great pension and benefits and it is now gone.... What we have is actually less than the regular public service employees

    Cons

    This place was so great when I joined 5 years ago. Last week they let go another Senior Vice President who ended up having 0 time to say goodbye to his direct reports and employees. CMHC also released it's new career and compensation framework after months and months of work. The result is that employees are getting the same pay than before and almost no chances to get bumped up in our level. The last framework... allowed a 7,5% increase within the level, it's now gone. Benefits are also going down and being removed. Can you believe that they spent months and months to work on this. As a major Crown Corporation we would have expected that all Senior Management would be bilingual which is not the case. The new appointees on very senior positions are uni lingual. Bilingualism was an asset before now it's gone. One last point, as you may have read in other reviews the pension fund as changed for the worst on Jan 1st 2018. Retirement age is going to 65, no more benefits when you retire, spouses benefits are gone and indexation becomes almost inexistant.

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    Advice to Management

    Please get informed on HR practices on how they do advise employees that their employment has been terminated and everything coming up afterwards, you will be very surprised. HR has to much power and they act like an IA division (Internal affairs) instead of being there to support management, employees and create a good work environment. Please have all positions go through a rigorous process, employees do... have the impression that they do not have a chance to move forward in CMHC since all new big positions are filled with the outside. May the best candidate win the position, the woman, man, black, white argument is not important we need to hire the best of the best. May the best candidate win. This shall not be interpreted as a statement against diversity which is very important through the workforce.

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    Canada Mortgage and Housing Corporation (CMHC)2018-01-20
  10. Helpful (32)

    "Upper management have no idea"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Solution Architect in Ottawa, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Canada Mortgage and Housing Corporation (CMHC) full-time for more than 8 years

    Pros

    None left - used to be a great place to work but not any more

    Cons

    Killed the benefits Killed the pension Are now planning on killing the salaries through the guise of a "Total Compensation Review" Upper management are running the ship into the ground.

    Advice to Management

    Get rid of the "New Boys Club" under Evan

    Canada Mortgage and Housing Corporation (CMHC)2016-12-02
Found 13 reviews