OMERS Reviews | Glassdoor.co.uk

OMERS Reviews

Updated 4 Dec 2019

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2.9
41%
Recommend to a Friend
53%
Approve of CEO
OMERS CEO Michael Latimer (no image)
Michael Latimer
26 Ratings
Pros
Cons
  • "Very less growth in pension specialist career(in 15 reviews)

  • "There are no cons I can think of(in 7 reviews)

More Pros and Cons
  1. "Great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Humble, fair, honest, transparent and rewarding culture that offers plenty of opportunities to its employees

    Cons

    It is a very large organisation.

    OMERS2018-11-08
  2. "Good company to work for."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Consultant in London, England
    Recommends
    Neutral Outlook
    No Opinion of CEO

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

    Pros

    Good culture, great colleagues, good benefits. Can't really think of anything else to write here. Great location and work environment.

    Cons

    Not much room for growth, promotions rarely happen, human resources are useless. Training courses are not provided although there is a budget for it. Expectation is that you learn on your own even if or when a new technology is introduced into the company while you manage it on daily basis. Company benefits are well kept secrets unless you hear it from others and ask for them. No performance reviews!!!! You work... for a person not a company. Management in some areas is poor. Blame culture at managerial level. Lack of ownership and responsibility.

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    Advice to Management

    Better and closer staff/manager relationship.

    OMERS2017-05-26
  3. Helpful (2)

    "OMERS"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 

    I worked at OMERS full-time

    Pros

    People, purpose, total rewards, location, career opportunities

    Cons

    None to mention, overall great company with lots of opportunity

    OMERS2016-02-23
  4. "Is the Glass Half-Empty or Half-Full in Pension Operations (Member Journeys)"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Analyst in Toronto, ON
    Recommends
    Neutral Outlook
    No Opinion of CEO

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

    Pros

    *DB pension plan *Bonus for perm FT employees *Great office space/design *Office has direct Path Connection *Friendly co-workers and managers *Decent benefits and vacation days *Strong female representation *Healthy snacks (yogurt, fruits)

    Cons

    **No Work From Home (used to be 2 days a week)- new leadership team has removed WFH insisting it doesn’t boost productivity. Majority of employees travel more than 1 hr each way to/from work which is tiring. **No Flexible Work Hours - used to be allowed to do your 8 hours whichever time you decide to start/leave. Employees now need to come in latest 9am and leave earliest 4pm each day and stick to same schedule... every day. This can be stressful for those of us who don’t live Downtown **Increase to work hours to 37.5hrs/week (used to be 36.35hrs/week) – was done under premise of “work harmonization” but seems to also be form of cost savings by making employees work more hours for the same annual salary (lower hourly rate). **Nepotism- seems to be a common theme that many family members/relatives are being hired without much thought into conflicts of interest. Especially concerning pertaining to management employees hiring family members **High Employee Turnover – at the highest level in the last 10 years; especially high among newer and young employees. This also impacts remaining team members/managers due to added responsibilities, pressure to meet service levels **Low Employee Morale- At the lowest level in years and although you cannot see it on their faces, employees often share their frustration/animosity amongst themselves. This seems to be due to all the changes made outlined here **Long Service Employees being let go- Employees with years of experience and no direct involvement with the “failed project” have been let go for unclear reasons. **Cuts to Work Life Balance/Days off- removal of summer days (used to have a half day for every other Friday in the summer) and flex days. What used to be 2 float days and 4 work life balance days have been replaced with 5 “OMERS days. Also, used to be 1 additional week of vac for employees with 10 years service (now 15 years). Volunteer days used to be paid time off, now you need to take an unpaid day off or use a vac day. **Handpicked promotions- Numerous instances in pension operations as well as client services with a lack of transparency. Annoys other employees who end up complaining things are not fair **Rapid Increases to Productivity/Performance Metrics/Expectations– steady yearly increases to productivity measures and performance objectives. Employees are working harder than ever, feeling stressed out, mentally exhausted, not having time to take breaks/lunches, putting in extra hours after work **Wasteful Activities/Events-emphasis on incentivizing people who participate in non-core work related initiatives such as volunteer committees, social events, etc by increasing the weight of “interpersonal skills” on total performance. Meanwhile reducing weight of core work related score. Are these “extra-curricular” activities wasteful spending if the majority of employees don’t willingly participate and there is no increase to employee engagement/productivity? Ex) Diversity/Social Committee, “Dialogue Series” involving 3rd party consulting firm. **Inefficient Use of Budget-Teams with unclear mandates such as Agility, Digital, Internal Controls which arguably are not providing value/benefit and leading to budge cuts in more important areas. Disproportionately high number of senior pension analysts, managers, directors within Pension Services which are taking up valuable budget room. **Inefficient Feedback Mechanisms- not much room for honest thoughts/concerns from employees at coffee chats with management due to fear of reprisals. “Anonymous” corporate wide Employee Engagement Surveys are administered online via email link. Prevents employees from expressing honest opinions due to fear of being “tracked” (privacy concerns).

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    Advice to Management

    We need to take a look in the mirror and ask ourselves what is the priority of the department? Deep reflection and pause for thought is needed. This does not need to be taboo subject. Let’s talk about it openly and avoid the elephant in the room. Clearly something does not seem right as we can tell. There are more questions than answers. Do we want to be a “World-class” organization and industry leader for... employees? Or do we want to be mediocre and never make the annual “GTA’s Top 50 Employers” list again? Does it make sense to have the “failed project” be a budgetary constraint on pension Services for years to come? OR should we just move on and not cry over spilt milk? Does it make more sense to have sleep deprived workers not working at full potential 5 days in the office? OR would it be better to have energized/rested employees who work a day or 2 a week from home? Does Pension Services deserve the same level of respect as other areas of OMERS such as the Investment Management Team? OR is Pension Services just not as vital to the success of the company? Do we want to take an old-fashioned/discipline approach to the work environment or Do we want to take a modern/flexible approach (work from home included) and attract “top-talent”? Do we want to only focus on driving productivity/performance or do we want reach a better balance while fostering employee well-being and a balanced work/life balance? Who is to blame for all these issues? Is the employees who are used to being given so much over the years, that a simple regression to the mean is troublesome? OR are any of the Vp, Svp, President, CEO to blame for state of things? Do employees have justified reasons to be disgruntled? OR are they overreacting by a series of changes that leaves them with a lot of positives? In summary, is the glass half-empty of half-full in OMERS Pension Services? You be the judge.

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    OMERS2019-12-05
  5. "Employee Pay in Pension Services is Sub-Par (Needs Improvement)"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Specialist in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    -good snacks, building, lighting, -very clean windows (they clean them every week it looks like to me)

    Cons

    -Pay is mediocre at best in pension services. There are pay bands, but very few people are even at the midpoint of these bands. Why are pensioners getting larger yearly increases than actual employees? This shouldnt be happening. All employees should receive minimum the CPI rate but arent for some reason. Theres definitely money floating around as seen from the recent head-scratching hiring of a Chief Medical... Officer. Are they planning on filling more unnecessary roles like Chief Carpenter, Chief Paleontologist, Chief Registered Dietitian, Chief Psychologist, Chief Criminologist? Why not just pay employees CPI or above instead? Does management not deem employees worthy of mandatory CPI pay increases? Why arent more employee at/above the mid-point of the pay bands? Are they running out of more creative ways to waste money?

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    Advice to Management

    -Please dont be cheep. Try to look after employees by giving minimum CPI. This way employees can live comfortable lives outside of work and not have to worry about paying their rent/bills which all increase yearly.

    OMERS2019-12-05
  6. Helpful (1)

    "Great company!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Specialist 

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

    Pros

    Benefits, location, people, hard boiled eggs

    Cons

    Location, elevators are too far from the buttons,

    OMERS2019-10-23
  7. Helpful (1)

    "Employee Engagement/Satisfaction is on a Steep Decline"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Pension Specialist in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at OMERS full-time for more than 8 years

    Pros

    Great coffee for free like Starbucks, Tims PATH connection to the office Friendly co-workers DB Pension and Incentive Plan 10min Walk to Union Go Station Minutes to TTC Queen, King, or St. Andrew Station

    Cons

    Work from home has been taken away completely. This is by far the biggest sense of frustration in the department. Management doesn’t trust employees to get work done at home. There were definitely employees who abused the Work from Home program. This is management’s responsibility for not holding these people accountable and making bad hiring decisions in the first place. The abusers were mainly newer employees... while the long service employees worked diligently/more effectively at home. Can they just not hire “adults” instead next time or atleast punish them only? It’s also become a 9AM curfew to get into the office. Imagine a workplace in the modern era that treats employees like school kids. Looks discriminatory to anyone who lives far away or has a unique situation that requires them to come in later than 9AM. Leads to stress, pressure, lost sleep. Yet, there is a core of employees who are persistently late, while everyone else sweats it out trying to get in by curfew. This has led to chronic sleep deprivation which negatively impacts work quality and extremely unhealthy. Employees are consistently feeling “tired” and run out of energy by mid-week. Unfortunately one of the first topics of discussion is always about lack of sleep and tiredness. This is NOT a work environment worthy of attracting “Top Talent.” There is more focus on volunteering for committees and event planning then of actually doing the work at hand. This has also made the managers lives more difficult because some team members are not at their desks much of the day. Combine this with the short staff situation and you have difficulty as a team to meet service levels. Sending people to volunteer at the call centre is another example. Rest of the team is left taking on burden of the work and end up stressed and overworked. There’s a core group of “serial volunteers” who think they don’t need to do any real work. They believe volunteering will be the shortcut to moving up the corporate ladder; a way to circumvent the system designed to promote fairness and merit based promotions. In essence, its hindering the natural, peaceful, harmonious flow of work life we once enjoyed. In a professional company, you would think volunteering wouldn’t be the main focus. For some reason, upper management seems ok with all the volunteering. Maybe upper level management has certain KPOs which they need the help of their junior employees to fulfill for them? If you are an outgoing “social butterfly” or enjoy pretending to be one, this is the perfect situation for you. Sucks if you are an introvert. Maybe we will soon have an OMERS band, choir, chess club, cross country team, swim team, environmental club? This is all a total waste of plan member contributions. Surely we can more efficiently manage the pension administrative expenses. Management has a grand plan to make transactional processing employees become quasi client service representatives. Quite an interesting idea, yet carries many flaws. Would employees willingly take part without any increase to their salary or any incentive for that matter? No one seems happy with this initiative and there are now political ads plastered all over the walls trying to convince more volunteers to join the trial run. It’s a constant campaign and a bit annoying that they are trying to convince everyone into accepting it as ok. Looking around the office, you would think we are in the midst of an election. Unfortunately, analysts and a few others have been handpicked to volunteer mostly against their will (voluntold). Talk about giving people added duties beyond their original job description. Did it not click to management that if someone really wanted to make calls the whole day, they would just apply for a client services job in the first place? Oddly enough management is now claiming this program is “non-mandatory.” Will these people get on the same page already? Seems to be miscommunication amongst upper management, which is an obvious sign of dysfunction in the upper ranks. This is quite absurd. Its equivalent to being pressured to enlist in the military and then being told later its “voluntary” after the generals see they are losing the war and it looks completely hopeless. Any campaign that may lead to job cuts in the client services department is simply unacceptable. Seems management does want to cut some of the client services workforce to further bring down costs in the department. Our CSRS do a fantastic job/specialized and deeming them useless or disposable is completely unwarranted. Work life balance is really bad. Employees are now working harder than ever before and hardly anyone has time to take their two 15 minute breaks and full lunch break. Some even end up working extra hours to catch up. The expectations have increased to extraordinary levels. There is no doubt why employee satisfaction is really bad as they have slowly taken things away and forced them to work harder. It’s a total disregard for employee well-being. Management thinks they can squeeze every last drop of productivity from each worker to keep budget costs low. This will only last so long before employees burn themselves out to the brink of mental exhaustion. If you are thinking of joining the department, think carefully about the lack of work life balance. You won’t have much time for breaks and will be overloaded with work with high expectations. Quality of work has decreased significantly. People have been rushed into being accredited to peer review others work, yet they are not even aware of the basics of the item they are reviewing. Quality is no longer emphasized and rather quantity is the main focus. Cost cutting has created a factory like shift work environment. No longer relevant to have highly skilled workers here let alone a university degree. Quality of work in no longer stressed, rather management only highlights transactions completed as the major metric. With the pressure to meet service levels and increases to productivity measures, employees are rushing to clear their work as quickly as possible without thinking hard. This has led to employees finding ways to manipulate stats to increase their productivity by outright doing unethical activities to boost their stats. Since management has failed to bring the hammer down, this stuff has just continued while everyone else is left to honestly work and meet their productivity metrics.

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    Advice to Management

    Volunteering should not be the focus of the department. The pension administration expense should be allocated to work activities, not volunteering/team events that do not directly help plan members. Don’t try to force employees take on duties beyond their job description (no one will be happy about this). Don’t voluntell people to do things, otherwise they are going to be unhappy. Work from Home is vital to... attracting/retaining “Top Talent.”

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    OMERS2019-11-30
  8. Helpful (13)

    "Not a great culture"

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

    I worked at OMERS full-time

    Pros

    You can focus your work on doing something great - helping pensioners

    Cons

    The focus is on the who will be the new CEO. Lots of jockeying for advancement with the President who is likely to become CEO. President is fake. Not a man of principles and surrounds himself with the same.

    OMERS2019-10-16
  9. Helpful (16)

    "Something needs to change"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Manager in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at OMERS full-time for more than 8 years

    Pros

    The people who do the work are great, and you can't beat the benefits and, of course, the pension

    Cons

    Senior management shows no respect or appreciation for their people. It's not the place it once was and it's a shame to see so many great people leave. There is a recent trend in getting rid of longer term/older employees which must be an HR nightmare. I've been waiting for the lawsuits!

    Advice to Management

    Treat your people well. But not lip service. Don't talk the talk. Take employee engagement seriously and don't do things just to "look good".

    OMERS2019-10-01
  10. Helpful (4)

    "Very Toxic Environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Developer 
    Doesn't Recommend

    I have been working at OMERS full-time

    Pros

    Nothing really compared to other organizations

    Cons

    The pension side has become a very toxic and unhealthy place. Everyone is scared of getting fired.

    OMERS2019-11-09
Found 108 reviews