Stearns Lending

CEO asked us to come leave positive reviews - Operations Stearns Lending Employee Review

2.0

6 Mar 2017

Operations

Recommend

CEO approval

Business outlook

Pros

Great work/life balance. Starting pay is good.

Cons

No annual performance reviews, no raises. A lot of recent layoffs - this impacted newer people who were mass hired last summer, and seasoned employees who had been with the company 5+ years (and not offered severance packages!). I am constantly worried about the security of my job. Had a company-wide conference call today (monthly "State of the Union"-type call) where the CEO mentioned the negative reviews former slighted employees have left, and mentioned current happy employees can come leave positive reviews to balance those out. Probably not the best idea to suggest when your current employees are scared they won't have a job next week and don't feel valued.

Stearns Lending Response

We appreciate your feedback. Just to be clear, our CEO did not ask employees to leave positive reviews. Instead, he invited employees to share their honest feedback about working at Stearns so that we can take it into account as we make Stearns a better place to work. Unfortunately, the current state of the market led to adjustments in staffing after years of low interest rates and high refinance volume. While our purchase volume grows, it can’t replace the record-setting refinance volume we had seen over recent years. We thank you for taking time to share your thoughts and we’re disappointed to hear that your experience at Stearns was not positive.

CEO asked us to come leave positive reviews - Operations Stearns Lending Employee Review

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