Island Savings Reviews

Updated Sep 8, 2019

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3.6
67%
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Island Savings President Kendall Gross (no image)
Kendall Gross
0 Rating
  1. "Amazing company"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Advisor in Victoria, BC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Island Savings full-time for more than 10 years

    Pros

    Fabulous benefits Leaders who care and listen Opportunity for advancement CEO who gets to know staff on a personal level and cares Top performers rewarded Community involvement

    Cons

    We are always looking for great staff and is hard to find in this market.

  2. "A Frustrating Place To Work"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Services Advisor in Victoria, BC
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at Island Savings full-time for more than a year

    Pros

    Amazing co-workers, great benefits, decent RRSP contribution program, paid sick/personal days and flexibility when it comes to vacation time.

    Cons

    1 - Too much change. I've been a employee for under 2 years and the amount of change my team and I have had to endure is pretty astounding. First off, there was a decision to switch credit card providers last year. The transition to Collabria was extremely problematic, and our members suffered the consequences. Around the same time, we began to harmonize with the other regions which affected our day-to-day processes/procedures. At this point, there is so much disorganization that no one knows the proper way of doing things anymore. There was an announcement made earlier this year that all FAs are to become licensed to sell mutual funds etc., however no raise in pay has been offered to the staff members taking on this huge responsibility. Multiple senior staff have been fired recently (without explanation) along with the President who we were told "retired". We learned just the other day that insurance was sold off, and then reassured that it had nothing to do with going national. Yeah right. Very strategic restructuring, First West. 2 - The training is seriously lacking. You are instructed to complete online courses which involve clicking through slides for a week or two and then you're thrown into the role. The lack of learning and actual support available makes it extremely challenging to advise members. 3 - Annoying KPIs. I realize that every FI is going to have their sales targets, but my understanding is that these are pushed WAY harder since merging with First West. Several times per week we are reminded of our numbers - especially if we're down in any areas. If we are exceeding in an area, we receive some temporary praise but the focus will remain on where we are struggling. This is a very demotivating and uninspiring environment to be a part of on a daily basis. 4 - Compensation. Although tellers start out at a higher than average wage of $17/$18 an hour, there is little increase when advancing to other positions. I've heard of FAs making $10K more at other FIs compared to us.

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    Island Savings Response

    September 16, 2019

    Thanks for taking the time to share how you're feeling. We realize that the growth of an organization can create change that's sometimes uncomfortable, and that it’s sometimes a challenge to recognize the need or imagine the future benefits. When the decisions our leaders make to better the experience of members and/or employees instigate change, one of our first priorities is to help our employees understand “why,” in as thorough a way as we can. In addition to alerting us to your concerns anonymously here, we hope that if you are struggling to understand the “why” behind specific changes, you'll seek further information from your performance leader or a subject-matter expert within the organization. There are many people who are willing to help you. They'll provide support, answers and insights that may shed greater light on our various learning programs, products, goals and career opportunities - all of which may resolve the specific uncertainties you raise, and help you feel more confident day-to-day and with First West's strategy. We're glad to read that you're happy with the relationship you have with your coworkers, and the lifestyle advantages of our benefits program. For areas in which you are concerned, we hope you will reach out to your performance leader for support.


  3. Helpful (1)

    "another jaded employee"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Duncan, BC
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I have been working at Island Savings part-time for more than 10 years

    Pros

    great benefits, excellent wages, and customer oriented

    Cons

    to much management, managers play favourites and make empty promises, that do not come to fruition. employees are not rewarded on merits.

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  4. Helpful (2)

    "A Great Company To Work For"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook

    I have been working at Island Savings full-time for more than 5 years

    Pros

    I have been with Island Savings 5 years now and have never looked back. It is a company that cares about its employees. At any time I feel like I can pick up the phone and talk to any of the senior managers or executives. There truly is an open door policy. I have to mention our Night of Stars! It is an wonderful evening of recognition where we all get together for a theme night. We never know what it is going to be....one time it was Harry Potter and it truly was like walking into the world of Harry Potter. My manager is a wonderful mentor and coach. Island Savings has been in the top 50 employers consistently the last few years. 2014 we were ranked 21! Benefits are very good...one of the best packages I have ever had. I see very engaged people who care about each other and their members walking in the door.

    Cons

    No company is perfect but at Island Savings they listen and try to change what they can.

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  5. "Great Company to work for"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Network Architect in Duncan, BC
    Positive Outlook
    Approves of CEO

    I have been working at Island Savings full-time for more than 3 years

    Pros

    Excellent benefits, competitive salary, lots of opportunity. A company that rewards hard working people!

    Cons

    Can't think of any cons.

  6. "Autoplan Agent"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Autoplan Agent 
    Recommends
    Positive Outlook
    No Opinion of CEO

    I worked at Island Savings full-time for less than a year

    Pros

    Great Company, good onboarding, good opportunity for growth

    Cons

    Not busy enough to retain and grow.

  7. Helpful (2)

    "It's OK"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Duncan, BC
    Recommends
    Neutral Outlook

    I worked at Island Savings part-time for more than a year

    Pros

    Competitive salary Good opportunities to grow your career Focus on training They are a local company and proud of it.

    Cons

    Too many bosses, of bosses, of bosses! There are too many people in charge at ISCU and they're all trying to cover their own butts all the time. Nobody ever seems to know what's going on in what department. There is a ton of focus on communication, feedback and member services, but no one in upper management ever walks the walk. They spend a ton of money on make work projects for the training and HR departments and they never seem to get it right.

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  8. Helpful (2)

    "Used to care about their people,but appears they care only about $$ now."

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Manager 
    Doesn't Recommend
    Neutral Outlook

    I worked at Island Savings full-time for more than 10 years

    Pros

    - competitive salary, benefits and vacation - autonomy - promotions (if the right people like you)

    Cons

    - profits before people? - too much focus on new growth instead of looking after what got them there

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