Pros
- For a someone starting out it offers adequate health, dental, and disability benefits - The company is at least trying to move towards a modern banking experience, although not going far enough. - Stable hours if you get a permanent position
Cons
- Starting compensation is the lowest of the big five banks and the Caisse - Management is generally unqualified to be in there positions. - Management is only interested in pushing product with no regard for creating a better client experience. Everything is about sales and regardless of how valuable you are in terms of solving customer issues and and improving a client’s experience the only metric you will be judged by is how many credit cards, LOC’s, etc. you can push. Because of this, (no surprise) client retention is abysmal. - Rather than coaching, mentoring and providing helpful insight the go-to tactics for motivating employees is bullying and indirectly threatening the possibility of being fired. - Product information and coaching documents are available in the labyrinth like database of information for employees, but A) it’s extremely difficult to find answers to questions, and B) The material available refers mainly to sales tactics and how to bypass customer complaints rather than addressing them. - There’s a huge turnover rate of people that move onto better banks out of the big five and those who have ended up staying at CIBC seem bitter and very passive aggressive. It’s understandable when you look at the type of treatment from the top but regardless it makes for a very unpleasant workplace.
