It used to be good. Recent changes as many have commented here have changed the environment. Over 2000 employees were moved from salary to hourly, and the company tried to say this was a labor law, which it is not. In addition to no longer receiving performance bonuses, this also affects the work/life balance that vanguard likes to say they care about, however, their actions no longer support this as we are carefully monitored, and seeing ever increasing micromanagement as every moment of the day needs to be accounted for.
Our sales goals were increased 175% over last years amount as far as assets to bring in which cannot be met in the current environment, where because vanguard is so busy, we take regular retail calls such as login problems, redemptions, tax questions - basically the same type of calls I took when I started here over 6 yrs ago in the retail side of vanguard. As a result apx 95% of crew did not hit their incoming asset goal in January which was no surprise and will be no surprise when Feb numbers also do not hit goal.
The company is dead set to get as many clients to sign up for paid managed advice. Again, we receive no incentive for this, nor do they record how many we individually sell as they don't want to spend the $ to license us. This makes it harder to achieve our incoming asset goals as we spend a lot of our day trying to sell this service rather than speaking with clients that want to move money in.
Our roles were restructured to make us salespeople and then they took away the performance based annual bonus. Multiple leaders have told us that our reason to still perform to increased goals is that we can potentially receive a 2-4% merit increase annually.
Individually, crew are very very unhappy here. Why do people like myself stay ? It's kind of like if your spouse cheats on you but you stay anyway - that's how it feels. for now, it's the right thing to do, but it will be a much more difficult, unhappier, dimmer relationship until I determine where to go from here.
