Assistant Vice President - Anonymous employee State Street Employee Review

State Street used to be a great place to work years ago but has become a fear driven company that treats its employees poorly and lacks business direction. Employees will hear terms like, "The Way Ahead," and canned talks (usually through email or quarterly town halls) about employee engagement and investing in their employees. Anyone who currently works there, even for a short time, regardless of location can see that no one really cares about employee engagement, employee morale or creating a sustainable environment where staff thrive and excel. Working in Centers of Excellence, has silo'ed staff into knowing a very small portion of the business and reduced their chances of advancement significantly both internally with other "CoE's" and externally with other employers who know State Street positions, expectations and titles don't coincide with the reality of other companies both in the same industry and beyond. The CoE model is solely in place to squeeze as much effectiveness out of the staff without giving any thought to the staff members growth. Even with trying to drive forward with silo's with the thought it will eliminate risk and reduce the number of errors that occur; it has done just the opposite and exposed significant weaknesses within the company to share holders, investors, competitors, staff and potential employees; but not the senior management who seem to have accepted mediocrity as best practice. Staff and managers at all levels need to be extremely careful in this hostile work environment as people claw their way to the few remaining scrapes that are thrown their way through limited promotional ability and even more limited compensation increases through cut throat and straight out back stabbing approaches to watching out for ones self. Smoke and mirrors with a lack of results is rewarded while the team members and managers that try to make a positive difference and challenge the status quo are exiled into dark corners where their careers stagnate or they find themselves looking for a new role after what is a monthly cycle of layoffs every last Wednesday of the month.