Morningstar

1.0

Sep 12, 2017

Anonymous employee

Recommend

CEO approval

Business Outlook

Pros

Good work/life balance. They have great medical benefits (company pays a decent amount out of pocket)

Cons

I'm mourning the old days of Morningstar past when the culture only allowed for the hiring of employees that fit in to a laid back, professional, collaborative and respectful environment. My opinions and examples are tied to the marketing department. There has been a tremendous amount of turnover in the marketing group in the past 3 years. The other Glassdoor reviews have responses state that there has been a 15.2% turnover in the past year but does not reference the 3 year timeframe where the percentage seems much higher. There are also remarks that the reason marketers are leaving is because they can't keep up in the "transformative and modern marketing" organization that has been created and became so overwhelmed that they decided to leave where life would be easier for a simpleton. On a sale of 1-10 the marketing sophistication and platforms (in my opinion) are about a 2-2.5 based on other marketing organizations I've worked at over 10 years ago and compared to other companies in the Chicago area. The reason there is high turnover is because the marketers in Chicago are looked at and treated as if they are technically inept and spoken down to in a condescending manner. In addition, there is lack of leadership across the group who don't seem to understand the current employees roles and how to best utilize their background or skills set. There is also a lack of resources, transparency with goals and budget prioritization, training within this group. Lastly, the base salary tends to be lower compared to other marketing organizations which would be acceptable if the previous culture was still intact.

Morningstar Response

Thank you for giving me an opportunity to address something I feel passionately about. It sounds like you worked at Morningstar for quite awhile and that you cared deeply about the firm. I respect that, and I’m confident you’ll find a next opportunity to channel that energy and commitment On the subject of technical sophistication of the marketing department, here are some facts on training and progress that I think are relevant for our modern marketing transformation. Over the last two years, among the 130 employees in marketing, we have done the following: On Marketing Automation: - 40 employees have taken advantage of formal training on Oracle Eloqua. - 15 have achieved Eloqua Master's certification - 4 received Luminary certifications, the highest qualification awarded. On All Mar-tech. We provide marketers who work with our technology platforms the opportunity to attend vendor's annual conferences, in 2017: - 4 employees to Cvent CONNECT - 8 to Adobe Summit - 5 to Oracle's Modern Marketing Experience And we bring our Vendors to Morningstar - We've brought Adobe consultants on-site for several 2-day intensive training sessions on Adobe's web-optimization platform Target and web-authoring platform AEM, allowing our marketing and product-management employees to hone their digital skills together and develop new ways of using the Web to test and learn. - We conducted professional on-site training for Cvent to our employees who plan and manage live events in the US, Canada, UK, India, Italy, Hong Kong and Australia. - We had the CEO & CTO of Adobe come in to talk to the whole firm about marketing transformation We have been recognized in the industry for our marketing transformation and platform excellence, including the following: Technology Awards - 2017 Oracle Markie for best Lead Management System - https://www.oracle.com/marketingcloud/about/events/the-markies.html - 2017 Cvent Plannie for Best Event Marketing Strategy - http://www.cvent.com/en/company/2016-plannie-award-winners-announced-at-cvent-connect.shtmlOr - 2016 Cvent Plannie for Best Onsite Orchestrator - http://www.cvent.com/plannies/categories.shtml Industry coverage - Adobe case study on transformation - http://www.adobe.com/content/dam/acom/en/customer-success/pdfs/morningstar-case-study.pdf - CVENT success story - http://www.cvent.com/en/customer-success/success-stories/morningstar.shtml - CMO.com article on transformation - http://www.cmo.com/interviews/articles/2017/4/17/morningstar-cmo-regulation-doesnt-hinder-agility-thats-just-an-excuse.html#gs.tMe5HBI Where these data points place us on your scale of marketing sophistication and platform is your decision. Our goal is to future proof Morningstar’s Marketing operation so we can play an even bigger role in Morningstar’s mission to help investors reach their goals. I believe that digital marketing represents an incredible opportunity for our firm to reach more investors and would-be investors and to foster an ecosystem that encourages more long-term investors to invest more for the long term. If we do that, we will thrive and continue to take great pride in our work. I am proud of our progress so far and the team of Morningstar veterans and new hires that are leading our progress. And I am thinking about your comments and regret that you felt alienated by this transformation rather than inspired. That has never been my intent. I wish you luck in your future endeavors. CMO

MOURNing-Star - Anonymous employee Morningstar Employee Review

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