Vicious cycle impacts technical staff - Anonymous employee Empower Employee Review

1.0
3 Dec 2016
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

The facilities are the only good thing going for GWF at this point in time; convenient locations to I-25, free parking, cafeteria, fitness center, store.

Cons

As a former IT employee of Great-West Financial (GWF) through 3 decades I have seen the cycles which are spiraling downward, especially since 2005. In the 90s GWF was a mid-sized company that was able to foster a great family (work/life balance) oriented environment. Originally conservative but balanced in their spending and technical advancement. Today GWF has become the typical large financial corporation where growth and profit are at all costs – especially to employees. In the 2000s new management (CIO) saw IT as a cost liability and reduced the IT budget year over year resulting in unreliable outdated systems and infrastructure. The results were frequent and significant outages. The dedicated, experienced and knowledgeable technical staff struggled to maintain service levels by committing their time and strong team ethics. Next cycle; triggered by a large acquisition/merger, was to replace the CIO (again) and spend millions of dollars to catch up technically. This was done with no additional staffing consideration. Time demands for the new systems, and technical nuances of significant upgrades caused another round of service levels issues, and management finger pointing impacted staff morale. Next cycle; replace AVPs with new management that determined the reason for system issues must be the “incompetency” of the technical staff. So, staff is driven out, or their positions “eliminated”. In one department, eight (of ten) staff gone, taking over 60 years of knowledge and experience. Newly hired directors hire former co-workers and friends for positions reporting to their direct reports (without interviews) who have no experience with a financial institution or the complexity of the technology employed. The amount of talent that has left GWF will clearly have a long term impact. Spending money to address all these issues, IT is once again facing budget concerns even as the company continues to push growth. When and what will the next inevitable cycle bring?

Explore other reviews about Empower

5.0
20 May 2026
Recommend
CEO approval
Business outlook

Pros

Great place to work, lots of growth opportunity

Cons

None right now, the pace of change can be challenging to some

5.0
11 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Many smart people genuinely want to grow & succeed; An excellent long term strategic vision backed by long term oriented investors; Ample growth opportunities at a business that is very well positioned for long term growth. Leaders that genuinely care about their people. Remote work is truly an advantage - just the lack of a commute makes a large difference. Opportunity to be at the ground level of a company that will develop a much stronger national brand over the next decade.

Cons

Delivery & Execution are areas that are truly challenging in the high growth/evolutionary environment that Empower is in today. Cultural changes are happening within the business that create some competing priorities, though Sr. Leaders continue to lead through this. Working with people across the US means don't expect a normal schedule - early / late starts and working lunches are the norm.

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