Deluxe Corporation - Great business model - Difficult to Execute | Glassdoor
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There are newer employer reviews for Deluxe Corporation

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Helpful (4)

"Great business model - Difficult to Execute"

Star Star Star Star Star
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Anonymous Employee in Shoreview, MN
Former Employee - Anonymous Employee in Shoreview, MN
Disapproves of CEO

Pros

Deluxe has a very strong business model, building on their relationships with small businesses and financial institutions to provide them with new products and services as their traditional products (checks and forms) decline. They are getting into the online marketing space at the right time through a number of key acquisitions. They have some great employees who really want to make this company transformation work.

Cons

The senior leadership team is not equipped to motivate and drive the change needed. The CEO, when brought in, was a super fit for what Deluxe needed at the time: driving a turnaround, cutting costs, streamlining the organization and putting a clearly defined business strategy in place to transform the old check printer.

It is now time for someone to take over that can inspire and motivate change. The current method is through fear and threat. Unrealistic demands on revenue growth without the support and time needed for new businesses are put on new leaders as they are brought in, setting them up for failure. This has unfortunately resulted in declining moral and constant churn at very key leadership positions.

I really liked working at Deluxe, and feel they have a real chance with their strategy. They just need to do some cleaning at the top.

Advice to Management

See my comments above. I would say that leadership needs to change. It could be as simple as replacing the CEO, bring in someone inspiring that gets the digital space. More focus on living up to the culture of Deluxe - one that is connected to both customers and employees; and more aspirational in its reach to move quickly to deliver the value its customers expect.

Other Employee Reviews for Deluxe Corporation

  1. Helpful (1)

    "That's not how we do things here."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Shoreview, MN
    Former Employee - Anonymous Employee in Shoreview, MN
    Doesn't Recommend
    No opinion of CEO

    Pros

    Benefits and salary are great. On site cafeteria. Flexible work hours. Travel arrangements. Free checks for all employees. Co-workers are well-intentioned.

    Cons

    Leadership lacks experience in the industry the company provides products for (financial services). Inexperienced management and no effective coaching for those managers. No confidentiality between human resources and direct managers when there are issues. Product development process very poor for a process-oriented company. Company culture very unforgiving to outsiders. Average length of employment for Deluxer is 20 years so change is highly unlikely.

    Advice to Management

    Not everyone is designed to immediately fit in to a closed culture. If you hire outside with the stated expectation to bring in fresh thinking and approaches then coach and hold your leadership team to that expectation. Establish a no tolerance policy for retaliation and breach of confidentiality between HR and management when employees notify HR of any issue. Not everything should have to be submitted through the compliance hotline to make senior leadership take this seriously.


  2. "Doing more with less..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lead Financial Analyst in Shoreview, MN
    Current Employee - Lead Financial Analyst in Shoreview, MN
    Doesn't Recommend
    Approves of CEO

    Pros

    Deluxe provides a good benefit package and senior management is making big strides in changing the image of the company from a check printer to a company that provides marketing options for small business'.

    Cons

    Opportunities for advancement are reserved for a select few. Many talented employees in mid level positions find it difficult to receive opportunities for growth or add'l career advancement. Most opportunities are lateral, or job expansion. Many in Finance stay at same grade for 5+ years.

    Advice to Management

    Contradictory to the previous Con, mgmt does a great job of pulling talent from the call centers to provide intern opportunities within the office. Deluxe does a good job to recruit those who take advantage of the college education reimbursement, but lacks for those who've joined the company further in their career. Mgmt should also focus on creating a more team oriented environment as there is little team unity.


There are newer employer reviews for Deluxe Corporation
There are newer employer reviews for Deluxe Corporation

See Most Recent

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