The Culture
SALES PRESSURE AND PERFORMANCE DISCIPLINE
In May of 2018 the high pressured sales culture went from bad to worse.
Prior to May 2018 focus was placed on the number of Financial Centers and sales associates earning quarterly sales commission/incentives for assisting customers and clients in achieving their financial priorities.
Upon the new Regional Executive being placed in charge of the Northwest Region in May of 2018, the primary focus became the Regional Executive and Sales Performance Manager ranking.
Extreme pressure was placed on each of the Market Leaders to begin writing up and progressing associates down the “progressive discipline” path which would ultimately lead to termination; with emphasis placed on minorities.
When I did not feel progressive discipline was warranted based on the economics of the Financial Center including low staff, lack of permanent leadership, or the tenure of the team and associates in place (all of which were extremely common) I had to endure a heated debate and argument where I would have to argue the injustice of the request with the Regional Executive and Sales Performance Manager to keep from progressing my associate(s) down a progressive discipline path which ultimately leads to determination, and be subjected to threats and bullying.
No consideration was given to the fact that when someone is terminated it goes on their permanent record which makes it incredibly difficult for them to find another job. This, compounded with the fact that many of these associates were minorities, made it even more important for me to stand up against this month over month.
In January of 2019, when the Regional Executive scorecard had not improved, scorecard manipulation was discussed (additional details outlined in “The Beginning Started at the End”) where the Northwest Market Leaders were instructed to focus primarily on metrics that had the highest weighting on the Regional Executive and Sales Performance Manager ranking. Even more pressure was put on the Market Leaders to write associates up and progress them down the termination path, and in my Market the focus was primarily on minorities.
In June of 2019 with the Regional Executive and Sales Performance Managers ranking still not improving, we were told to prioritize selling credit cards; being instructed that based on the calculations made by the Sales Performance Manager, credit card sales had the highest weighting on the Regional Executive and Sales Performance Manager ranking and scorecard. In July, weekly early morning Friday in person meetings with mandatory attendance by Financial Center Managers focused on credit card performance were instated.
When the Regional Executive and Sales Performance Manager scorecard and ranking did not improve by mid August, the Regional Executive and Sales Performance Manager required Market Leaders to dial into weekly meetings that consisted of one Market Leader at a time as well as 4-5 executives who not only required computer access to the Market Leader’s computer to review emails and folders,, but also required Market Leaders to create emails to Financial Center Managers and sales associates while on these weekly calls where we were instructed to berate performance and ask for details surrounding conversations with clients seen the day/week before - specific to the credit card conversation with each client. These associates were also required to send in a nightly report/email with the clients they had seen that day specific to the detailed credit card conversation with each client. We were instructed at one point to write up associates for not presenting credit cards based on a “click the button” report which was later factually proven to be inaccurate (by one of the minority Financial Center Manager’s in my Market that they were trying to terminate).
During these weekly Market Leader and executive calls, executives repeatedly and consistently humiliated Market Leaders by calling them failures, asking when we would be writing up and terminating employees for sales performance, and telling us that the calls were “meant to be painful to force improvement.”
Insults were common place and were given in a “round robin” format with each executive given a turn.
THE DISADVANTAGE OF WORKING IN THE NORTHWEST REGION
Given the low traffic within each Financial Center in the Northwest Region, with the West Portland Market (my Market) having the lowest traffic within the Northwest Region, Financial Center Managers and their staff struggled to complete the same amount of daily, weekly, monthly, and quarterly tasks that Financial Centers in other Regions completed with double and triple the staff.
In addition, given the low traffic and thus the low staff, the Northwest Region (specifically Oregon and more specifically the West Portland Market as it is reflected by the Traffic Report published on the companies reporting website) tended to have the most Financial Centers with single leaders and junior sales staff as well as a large number of minority associates.
Having a single leader and junior sales staff meant that the Financial Centers with the most inexperienced staff (junior sales staff typically were high school and college aged employees brand new to the workforce and many times lacking the work ethic that comes from time in the industry and time out of school) spent much of their time continuously training new associates (as turnover was high), on the phone with human resources regarding work ethic complaints (due to associates less tenured and newer to the work force than Financial Centers with 2 leaders and senior sales associates), and little to no time driving performance (if the only leader in the center is constantly training new associates, who is leading the center and driving sales performance).
As stated above, these Financial Center Managers, without a second leader, struggled with employees that called in sick more often, associate turnover, and lack of work ethic.
It was a daily occurrence that the single leader and many times double leader Financial Center managers were faced without enough staff to open and run their Financial Center that day or week, forcing them to “borrow” associates from another Financial Center which in turn left those Financial Centers short staffed as well.
This created a snowball effect that resulted in Financial Centers simply trying to get through the day without being forced to shut their teller lines and/or their Financial Center doors, which included a security and safety challenge as well.
Single leader Financial Centers were also having to constantly spend their time recruiting given the increased turn over, which took away from running their daily business while making the same or less pay than their Financial Center Manager peers who had two leaders as well as, in general, a more experienced and mature staff and more associates to work with and delegate to.
For years I repeatedly expressed my concerns regarding the disproportionate treatment and expectations to Division and Regional Executives, the Region Sales Performance Manger, Operations Manager, and in some cases Human Resources (when I was being told to write these managers up for performance- these calls should be on record as we are told they are recorded). As far as I know at the time I was severed these concerns were never addressed.
In addition, single leader Financial Center Managers many times struggled to meet sales performance goals, compliance goals, as well as Client Experience goals due to the unique challenges they faced. We were told that sales goals were based on the “opportunity” of that Financial Center; primarily the number of clients that visited and the type of client (Retail, Preferred, Affluent, Small Business, etc.). However, when you have a Market, and in some cases several surrounding Markets, that have less staff than their peers in other states, and you’re required to complete the same amount of tasks with 5 people as opposed to a Financial Center with 10 or 15, your day becomes more about “surviving” than it does strategic planning, assistant clients, sales coaching, or associate development.
There was a complete lack of empathy for these very real and consistent challenges from Regional and Divisional Executives, Sales Performance Managers, and Human Resources (Single Leader Financial Center Managers did make calls to Human Resources regarding these challenges, especially during the monthly performance discipline requirements. When Human Resources called me to discuss these concerns, I agreed and shared my concerns as well.) Instead these concerns were met with not only negative judgement, but even worse they were met with insults by both the Regional Executive and Sales Performance Manger directed at the Financial Center Managers lack of with leadership and what they felt were personal flaws of the associate.
My repeated fact and data based requests to address these challenges were ignored, however I continued to voice my concerns through October 2019 including when I requested an off-site meeting with the Northwest Regional Operations Manager (A rule that included ensuring ethical sales practices) where I also addressed my concern around the unethical credit card sales pressure.
Within weeks I was severed from the company.
A former colleague shared with me that the first executive leadership meeting after I was severed had 40 executives; 37 men, 3 women; all white.
A real example of the disparate treatment at the company I spent 21 years at;
Financial Center 1;
Single Leader (Financial Center Manager only)
4 junior sales associates
5 total associates at the highest staffed times
Large percentage of minority traffic
Constant turnover and lack of work ethic due to younger less tenured staff
Consistent recognition by the team of the Financial Center Manager
Minority Financial Center ManagerFinancial Center 2;
2 Leaders (Financial Center Manager and Assistant Financial Center Manager)
3 senior sales associates
2 junior sales associates
3 tellers
10 total associates
Greatest affluent traffic in the West Portland Market (greatest opportunity for “sales”)
2 minority senior sales associates went on Leave of Absence due to treatment from Financial Center Manager
Multiple associates called myself and Human Resources to complain about treatment from the Financial Center Manager
White Financial Center ManagerFinancial Center 3;
2 Leaders (Financial Center Manager and Assistant Financial Center Manager
2 senior sales associates
2 junior sales associates
2 tellers
Highest Financial Center traffic in the West Portland Market
Highest minority traffic
Consistent recognition by the team of the Financial Center Manager
Minority Financial Center Manager
Of the 3 Financial Center Managers above, each ranked comparably with Sales Performance.
I was constantly being pressured by the Regional Executive and Sales Performance Manager to terminate the Financial Center Managers at both Financial Center 1 and 3, as well as the minority sales associates within these Financial Centers.
Financial Center Manager 2 was not only completely left alone by the Regional Executive and Sales Performance Manager, but the behavior towards their team was supported despite all of the calls from the associates to Human Resources as well as the 2 minority associates that went on Leave of absence due to treatment from the Financial Center Manager.
One of the Senior Sales Associates that worked at Financial Center #2, who went on leave due to being harassed and bullied by the Financial Center Manager, wrote about her experience.
The Financial Center Manager created “groups” within the Financial Center; The Financial Center Manger, Assistant Manager, Mortgage Loan Officer, and tellers and pitted them against the 2 Senior Sales Associates (both minorities)
The Financial Center Manager made threats and used intimidation and discrimination to bully the 2 Senior Sales Associates
The toxic culture this Financial Center Manager created caused health issues including stress, anxiety, and physical symptoms resulting in both Senior Sales Associates taking a long term leave of absence to protect themselves
Upon returning from leave of absence, I placed each of these Senior Sales Associates into a different Financial Center where they flourished and felt supported by their new Financial Center Managers
Even after all the calls to HR by the associates under this Financial Center Manager’s leadership, the Regional Executive moved this Financial Center Manager to another Market without consequences, and failed to address any of the HR concerns by the associates that worked below the Financial Center Manager
When Heather Bryant was terminated, this Financial Center Manager was moved back into the West Portland Market without any toxic behavior being addressed including threats, intimidation, and discrimination of the minorities working for this Financial Center Manager
This toxic, sexist, and racist culture starts at the top down and must stop.
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Below is a letter sent to the CEO of of this company, by a Financial Center Manager and former Human Resources manager with a degree in Human Resources, that turned in his keys just 11 weeks into training when he was placed into a Single Leader Financial Center prior to even completing training. Upon reading the letter, both the Regional Executive as well as the Sales Performance Manager, instead of taking any responsibility or showing concern and empathy, both immediately began insulting this person personally and blaming him for the challenges he mentions below.
From: Ryan Taylor
Date: October 3, 2019 at 3:26:09 PM PDT
To: CEO
Subject: My 11 Weeks at (a Fortune 500 Bank) (Resignation Letter Please Read)
Hello Brian,
I thought it was important that I shared my brief experience (at this company) with you. I think it is important that you realize what is happening in some of your failing markets. Without feedback and change, companies fail their employees and their clients. I am encouraged and excited every time that I have had the opportunity to hear you speak. My goals and values are the same as you
and the company. However, the reality is much different for some of us.
11 weeks ago, I started my journey with (this company). I was exceptionally excited. Throughout the interviewing and recruitment process it seemed the company was a perfect match for my skill set. (This company) made the process very enjoyable. Everything from my possible salary, location, drive time, vacation and sick time seemed almost to good to be true. I finished my last interview with (Northwest Region Operations Manager) and left the interview knowing that this was a great fit and I hoped to get an offer. A couple of days later the offer came. (This company) recognized my talent, drive, and desire to be successful. The salary was decent and the incentive plan seemed excellent. I confirmed the possible locations, my commute, and was able to negotiate my two pre-planned vacation for later this year. I couldn’t have asked for more.
Next I went through a screening process that took far too long. I waited for weeks to get cleared, then weeks more to actually start my eight-week training program. Again, that was an eight-week training program that was laid out quite well for me. It would entail five-weeks of computer training, peer mentorship, and job shadowing. Followed by three-weeks of OJT at my permanent location. Sounded like a great plan.
The first couple weeks of training were fine. I got acclimated to the bank and started to get the feel for how a center should run. It was a busy center with full partners and the pace was exactly what I expected. By week 3 I had conversed with my Market Leader. He had no prior knowledge of my pre-approved vacations. It immediately stressed me out and I was concerned about the communication between the managers above me. I shook it off and continued in my training. No one was ever able to tell me where I would be working permanently. It was a big secret for some reason. Now I understand why.
Towards the end of my 5th week my training manager needed to know where I was going for my on the job training. This is when the news was finally broken to me. They were sending me to a SINGLE LEADER CENTER. A center which is nearly an hour drive from my house. As someone new to banking I was exceptionally concerned that I wasn’t going to receive the support needed to learn the complex job of a Financial Center Manager. The task seemed daunting without an Assistant Manager to fall back on or learning operations, merlin, and many other areas never covered in my first 5 weeks. My training manager agreed. My Market Leader assured me he had support lined up. So reluctantly I went.
For my on the job training I was supposed to have another leader side by side with me (for obvious reasons). By 11am on day one of on the job training, I was left alone in the bank being asked to perform over-rides, talk to clients, and operate as a live manager. Of all the employees I reached out to, no one had ever heard of anything like this. I made an override for a $10,000 check by noon. The stress was insane. No person should ever be put in that situation. The risk involved is on another level of stupidity. Honestly, I can’t believe anyone was OK with it. In my 3 weeks of on the job training I saw my Market Leader twice and received support from another leader on roughly half of my days in the branch. The other days of on the job training consisted of me fumbling through everything, providing over-rides for things I didn’t understand, and dealing with the most in-experienced staff I have ever had in my entire career. To put in short, the most unnecessary stress I have ever been under. I was told from peers "Welcome to BofA", "sink or swim", "this is reality." These are legit quotes. I can't make this stuff up.
By week 9 when I went “live” (which I still find funny as I was live on week 6), I realized that nearly every promise and agreement in my offer from BofA was not fulfilled. Nothing about this job was as advertised. The market is in shambles, I am in a single-leader center, I am driving an hour to work, there won’t be incentive anytime soon (if ever), I was set up for failure, and I wasn’t given the appropriate chance to learn my job. I don’t understand how any of this happened honestly.
Today when I got a call from my daughters school with a rare emergency I realized that literally nothing I was told is true in this market. This wraps in to how much more you are asking of some managers than others. At a single leader center, I can’t leave for an emergency, I can’t use my sick time, I have to FIND MY OWN COVERAGE for everything, and am asked to do the job of two managers, with zero support, while trying to learn this job. Again, nothing that was told to me when I came on-board. Am I willing to make sacrifices for the team? ABSOLUTELY. Am I willing to choose opening the building so I can stand around and provide over-rides over my kids? ABSOLUTELY NOT. Again, this was all discussed in my interview process. I was assured BofA provided plenty of sick time and was all about family. This is simply not true. I am not one to ever take a day off, but sometimes emergencies happen. Today when I was standing in the building, un-able to reach anyone I needed, I made my choice to leave. Not just for today, but forever.
This market is broken for a reason. You cannot expect top talent to stick around when they are mismanaged. This is why you have a market full of failing centers. Winners simply will not put up with this. As someone with a degree in HR management, it is baffling to me how a new employee with high potential could be so poorly mismanaged. It is literally luck of the draw in each new-hires situation. Maybe you will get a decent center, maybe you will be shoved into an awful one with no support. I passed on an excellent opportunity with another company to give (this company) a shot. I will regret that decision for a while. Had I been told the reality of the job, there is ZERO chance I would have ever accepted and offer from you.
With this, I would like to inform you of my resignation, effective immediately. 10/3/2019.
I will drop my keys in the night drop tonight.
I am sure you will forward this along to the appropriate people.
There is no doubt I would have been a major contributor for (this company) in an appropriate setting. Unfortunately, that was not the case. I wish you all the best of luck in the future. You guys are doing great things at some levels.
Thank you,
Ryan M. Taylor
Moreland-Sellwood
Portland, OR