OMERS Reviews | Glassdoor

OMERS Reviews

Updated Jan 20, 2020

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2.9
42%
Recommend to a Friend
52%
Approve of CEO
OMERS Chief Executive Officer Michael Latimer (no image)
Michael Latimer
27 Ratings
Pros
Cons
  • "You can also not participate in their pension plan(in 14 reviews)

  • "There are no cons I can think of(in 7 reviews)

More Pros and Cons
  1. "Software Intern"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 

    I worked at OMERS full-time

    Pros

    Great people and work enviornment

    Cons

    Used a lot of outdated software

    OMERS2018-09-24
  2. Helpful (1)

    "going down"

    StarStarStarStarStar
    Former Employee - Analyst 
    Approves of CEO

    I worked at OMERS full-time

    Pros

    good perks excellent work life balance coaching and learning opportunities across business functions

    Cons

    politics and bias under the table

    OMERS2019-09-18
  3. Helpful (3)

    "Awfull"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Ex Employee in Unionville, Burlington, NJ

    I worked at OMERS for more than a year

    Pros

    Good pay and nice colleagues

    Cons

    Nepotism in IT executive management, if you are not from "their team", don't even go there

    OMERS2017-02-28
  4. Helpful (1)

    "Omers headquarter review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook

    I worked at OMERS

    Pros

    lots of opportunities to gain exposure to various areas of finance, team managers are open to helping you through workshops and personal development sessions

    Cons

    senior executive team is bureaucratic, too much relationships, research and development and technological advances are not supported, prefers to do things the old fashioned way

    Advice to Management

    Unload the hierarchy, try to encourage research within the divisions to accomplish higher work efficiency, make sure teams actually work together rather than compete/hate on each other

    OMERS2016-10-23
  5. "leader"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Group Ex Leader in Bloomington, IN
    Recommends
    Positive Outlook

    I worked at OMERS part-time

    Pros

    it was okay to work at, other places may be better. i may suggest one of their competitors but that would look bad.

    Cons

    it was a good job and the people are alright to work with. i enjoyed the pay as a part time job but would not choose this again

    Advice to Management

    more involvement

    OMERS2015-11-09
  6. "Beware-No Mandatory Inflation Pay Increases and Cheep Management Team"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Specialist in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at OMERS full-time for more than 3 years

    Pros

    -good snacks, building, lighting, -very clean windows

    Cons

    -Pay is mediocre at best in pension services. There are pay bands, but very few people are even at the midpoint of these bands. Most curious is Why are pensioners getting larger yearly increases than employees? This shouldnt be happening. All employees should receive minimum the CPI rate but arent for some reason. Theres definitely money floating around as seen from the recent head-scratching hiring of a Chief Medical Officer. Do we really need a chief medical officer to post sharepoint articles and host meetings with employees to discuss basic healthy living principles that you can find with a simple Google search? Or maybe the real purpose of this role is to diagnose employee stress, anxiety, exhaustion, fatigue, sleep deprivation? Are they planning on filling more unnecessary roles like Chief Carpenter, Chief Paleontologist, Chief Registered Dietitian, Chief Psychologist, Chief Criminologist? There’s also an unnecessarily high amount of upper management positions for useless roles like Director of Training. It’s a complete mismanagement of budget. Why not just pay employees CPI or above instead? Does management not deem employees worthy of mandatory CPI pay increases? Why arnt more employee at/above the mid-point of the pay bands? Are they going to find more creative ways to waste money without adequately taking care of their employees? If you have bills to pay that are triggered to inflation this is not the place to be. Just go with one of the many other companies out there.

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    Advice to Management

    -Please dont be cheep. Its bad karma. Try to look after employees by giving minimum CPI. This way employees can live comfortable lives outside of work and not have to worry about paying their rent/bills which all increase yearly. Is management cheepness going to reach new heights? They have already done so many cheep things like increase work hours by 15min daily, Are they going to start rationing out the toilet paper next or bill us for water use?

    Show More
    OMERS2020-01-21
  7. "Is the Glass Half-Empty or Half-Full in Pension Operations/Pension Services"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Analyst in Toronto, ON
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at OMERS full-time for more than 10 years

    Pros

    *DB pension plan *Bonus for perm FT employees *Great office space/design *Office has direct Path Connection *Friendly co-workers and managers *Decent benefits and vacation days *Strong female representation *Healthy snacks (yogurt, fruits)

    Cons

    **No Work From Home (used to be 2 days a week)- new leadership team has removed WFH insisting it doesn’t boost productivity. Majority of employees travel more than 1 hr each way to/from work which is tiring. **No Flexible Work Hours - used to be allowed to do your 8 hours whichever time you decide to start/leave. Employees now need to come in latest 9am and leave earliest 4pm each day and stick to same schedule every day. This can be stressful for those of us who don’t live Downtown **Increase to work hours to 37.5hrs/week (used to be 36.35hrs/week) – was done under premise of “work harmonization” but seems to also be form of cost savings by making employees work more hours for the same annual salary (lower hourly rate). **Nepotism- seems to be a common theme that many family members/relatives are being hired without much thought into conflicts of interest. Especially concerning pertaining to management employees hiring family members **High Employee Turnover – at the highest level in the last 10 years; especially high among newer and young employees. This also impacts remaining team members/managers due to added responsibilities, pressure to meet service levels **Low Employee Morale- At the lowest level in years and although you cannot see it on their faces, employees often share their frustration/animosity amongst themselves. This seems to be due to all the changes made outlined here **Long Service Employees being let go- Employees with years of experience and no direct involvement with the “failed project” have been let go for unclear reasons. **Cuts to Work Life Balance/Days off- removal of summer days (used to have a half day for every other Friday in the summer) and flex days. What used to be 2 float days and 4 work life balance days have been replaced with 5 “OMERS days. Also, used to be 1 additional week of vac for employees with 10 years service (now 15 years). Volunteer days used to be paid time off, now you need to take an unpaid day off or use a vac day. **Handpicked promotions- Numerous instances in pension operations as well as client services with a lack of transparency. Annoys other employees who end up complaining things are not fair **Rapid Increases to Productivity/Performance Metrics/Expectations– steady yearly increases to productivity measures and performance objectives. Employees are working harder than ever, feeling stressed out, mentally exhausted, not having time to take breaks/lunches, putting in extra hours after work **Wasteful Activities/Events-emphasis on incentivizing people who participate in non-core work related initiatives such as volunteer committees, social events, etc by increasing the weight of “strategic initiatives” on total performance. Meanwhile reducing weight of core work related score. Are these “extra-curricular” activities wasteful spending if the majority of employees don’t willingly participate and there is no increase to employee engagement/productivity? Ex) Diversity/Social Committee, “Dialogue Series” involving 3rd party consulting firm. Employees are “forced,” “voluntold,” pressured to participate in events, witness fireside chats, attend social events (pressure from the VP/SVP?) **Inefficient Use of Budget-Teams with unclear mandates such as Agility, Digital, Internal Controls which arguably are not providing value/benefit and leading to budge cuts in more important areas. Disproportionately high number of senior pension analysts, managers, directors within Pension Services which are taking up valuable budget room. **Inefficient Feedback Mechanisms- not much room for honest thoughts/concerns from employees at coffee chats with management due to fear of reprisals. “Anonymous” corporate wide Employee Engagement Surveys are administered online via email link. Prevents employees from expressing honest opinions due to fear of being “tracked” (privacy concerns).

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    Advice to Management

    We need to take a look in the mirror and ask ourselves what is the priority of the department? Deep reflection and pause for thought is needed. This does not need to be taboo subject. Let’s talk about it openly and avoid the elephant in the room. Clearly something does not seem right as we can tell. There are more questions than answers. Do we want to be a “World-class” organization and industry leader for employees? Or do we want to be mediocre and never make the annual “GTA’s Top 50 Employers” list again? Does it make sense to have the “failed project” be a budgetary constraint on pension Services for years to come? OR should we just move on and not cry over spilt milk? Does it make more sense to have sleep deprived workers not working at full potential 5 days in the office? OR would it be better to have energized/rested employees who work a day or 2 a week from home? Does Pension Services deserve the same level of respect as other areas of OMERS such as the Investment Management Team? OR is Pension Services just not as vital to the success of the company? Do we want to take an old-fashioned/discipline approach to the work environment or Do we want to take a modern/flexible approach (work from home included) and attract “top-talent”? Do we want to only focus on driving productivity/performance or do we want reach a better balance while fostering employee well-being and a balanced work/life balance? Who is to blame for all these issues? Is the employees who are used to being given so much over the years, that a simple regression to the mean is troublesome? OR are any of the Vp, Svp, President, CEO to blame for state of things? Do employees have justified reasons to be disgruntled? OR are they overreacting by a series of changes that leaves them with a lot of positives? In summary, is the glass half-empty of half-full in OMERS Pension Services? You be the judge.

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    OMERS2020-01-21
  8. "Employee Satisfaction Is at Really Low and Employee Turnover is Really High"

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

    I have been working at OMERS full-time for more than 5 years

    Pros

    Great coffee for free like Starbucks, Tims PATH connection to the office Friendly co-workers DB Pension and Incentive Plan 10min Walk to Union Go Station Minutes to TTC Queen, King, or St. Andrew Station

    Cons

    Work from home has been taken away completely. This is by far the biggest sense of frustration in the department. Management doesn’t trust employees to get work done at home. There were definitely employees who abused the Work from Home program. This is management’s responsibility for not holding these people accountable and making bad hiring decisions in the first place. The abusers were mainly newer employees while the long service employees worked diligently/more effectively at home. Can they just not hire “adults” instead next time or atleast punish them only? It’s also become a 9AM curfew to get into the office. Imagine a workplace in the modern era that treats employees like school kids. No wonder why many employees are chronically sleep deprived or complain about lack of sleep/fatigue. This chronic sleep deprivation negatively impacts work quality and is extremely unhealthy to say the least. Employees are consistently feeling “tired” and run out of energy by mid-week. Unfortunately one of the first topics of discussion when you run into a co-worker is always about lack of sleep and tiredness. Yet, there is a core of employees who are persistently late, while everyone else sweats it out trying to get in by curfew. This is NOT a work environment worthy of attracting “Top Talent.” Work life balance is really bad. Employees are now working harder than ever before and hardly anyone has time to take their two 15 minute breaks and full lunch break. Some even end up working extra hours to catch up. The expectations have increased to extraordinary levels. So many employees have left in the last 2+ years. What was once a place where someone leaving would be “news” is now just a quick shrug of the shoulders. There is no doubt why employee satisfaction is really bad as they have slowly taken things away and forced employees to work harder than ever. It’s a total disregard for employee well-being. Management thinks they can squeeze every last drop of productivity from each worker to keep budget costs low. This will only last so long before employees burn themselves out to the brink of mental exhaustion. If you are thinking of joining the department, think carefully about the lack of work life balance. You won’t have much time for breaks and will be overloaded with work with high expectations. Management has a grand plan to make transactional processing employees become quasi client service representatives. Quite an interesting idea, yet carries many flaws. Would employees willingly take part without any increase to their salary or any incentive for that matter? No one seems happy with this initiative and there are now political ads plastered all over the walls trying to convince more volunteers to join the trial run. It’s a constant campaign and a bit annoying that they are trying to convince everyone into accepting it as ok. Looking around the office, you would think we are in the midst of an election. Unfortunately, analysts and a few others have been handpicked to volunteer mostly against their will (voluntold). Talk about giving people added duties beyond their original job description. Did it not click to management that if someone really wanted to make calls the whole day, they would just apply for a job in client services in the first place? Oddly enough management is now claiming this program is completely voluntary. Yet they are still “pressuring” employees to join with cleverly worded sharepoint articles as well as other pressure tactics. Will these people get on the same page already? Seems to be miscommunication amongst upper management, which is a sign of dysfunction in the upper ranks. This is quite absurd. Its equivalent to being pressured to enlist in the military and then being told later its “voluntary” after the generals see they are losing the war and it looks completely hopeless. Management even took the time recently to write a bizarre full-page defensive and almost emotional op ed trying to defend this deeply flawed idea amidst the push back. Does management not understand the concept of “transparency”? They clearly weren’t up front with their agenda/purpose which lead to deep speculation of their “grand-plan”. This comes as no surprise. The current management team keeps employees in the dark and doesn’t admit the true reason behind their actions. Perfect example was the removal of Work From Home.

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    Advice to Management

    Work from Home is vital to attracting/retaining “Top Talent.” Don’t try to force employees take on duties beyond their job description (no one will be happy about this). Don’t voluntell people to do things, otherwise they are going to be unhappy. Volunteering should not be the focus of the department. The pension administration expense should be allocated to work activities, not volunteering/team events that do not directly help plan members. Take this “fiduciary duty” more seriously.

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    OMERS2020-01-19
  9. "Amazing Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - IT Service Desk Analyst in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at OMERS full-time for more than a year

    Pros

    Benefits are awesome. League account, spotlight recognition program, employee discounts and so much more. Work is super flexible and the team you get to work with are really welcoming and genuinely caring.

    Cons

    Pension deductions sometimes take a toll. The company is trying to bring too much change in too little time which sometimes ends up bringing issues that are hectic and tiring to handle but that happens in any organization that plans to grow at this speed.

    Advice to Management

    Please have employees choose their own educational courses or training they want to take to make their work better rather than putting courses that most won't take. The path towards constant learning and being able to take courses to make job more efficient should he encouraged more by management.

    OMERS2019-12-13
  10. "Environment and management"

    StarStarStarStarStar
    Current Employee - Analyst 

    I have been working at OMERS full-time

    Pros

    Good benefits, pay and bonus

    Cons

    inflexible and long work hours. Traditional management system

    OMERS2019-12-24
Found 111 reviews