Focus on "Going Faster" is resulting in demoralised employees
Pros
Some of the best reason for working at Lloyds are: 1. Salary package and benefits 2. Pension 3. Team members
Cons
Over the past year the Bank has decided that in order to compete with smaller Fintechs, they need to increase speed to market of digital technology and services. Now this in principle is a good idea, but in reality it is poorly executed. Communication of the new ways of working (LBG's favourite buzzword) is simply attrocious and many (if not most) people simply do not understand the direction we are heading. Implementation of new technology and systems to make things agile is adding additional complexity and processes to get things done. Internal communication has become a minefield and with structure changing almost on a monthly basis, many people are fed up and tired of Senior Leadership spouting the same things over and over again. Another new restructure and way of working is due at the tail end of the year and again people are asking question of Senior Leaders and being told all is good, when on the front line, it is clearly not. People are being told to accept that change is necessary and effectively ignoring the majoroty of staff when they tell them thinsg are not working. Overall it does not feel a good place to work right now. The main changes in this organisation has came ever since the current CEO Charlie Nunn took over from Antonio and effectively removed most of the Senior Leaders and replaced with people who knew Charlie from the past. Many of these people clearly do not understand or conform to the LBG culture that many of us have worked for years and see a rapid decline in good feeling within the organisation.
