IG Employee Reviews about "high staff turnover"

Updated 29 Oct 2019

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3.4
65%
Recommend to a Friend
82%
Approve of CEO
IG CEO June Felix
June Felix
38 Ratings
Pros
  • "great team members, free fruits(in 33 reviews)

  • "Wonderful company, good benefits, inspirational employer(in 19 reviews)

Cons
More Pros and Cons

Reviews about "high staff turnover"

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  1. "IG Review"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Melbourne
    Doesn't Recommend
    Positive Outlook
    No Opinion of CEO

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

    Pros

    Good work location, hot desks and mostly all nice people to work with.

    Cons

    Low pay comparative to the industry, micromanagement and high staff turnover.

    IG2019-10-09
  2. Helpful (5)

    "Avoid if you value your mental health"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Melbourne
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at IG full-time for more than 3 years

    Pros

    Nice people to work with Good location Regular booze-fuelled events

    Cons

    A 45-year-old company that says it is like a startup to explain away why it has zero procedures in place. Training is unstructured, undocumented, lacking, and done on an ad hoc basis by overworked colleagues when they have a spare second. As there is no manual, you’ll have to guess answers and be told you’re wrong. Negative reinforcement is the key here. Your workload is literally overwhelming. Your contract quotes a 38 hour week plus reasonable overtime however you’ll immediately be rostered 40 hours. You’ll have to get there early too and leave later as the hot desk policy means you will pack and unpack each day. If you get stuck on a long phone call that’s your own fault. If you’re on the Premium team, client events are in your own time on a weeknight, so there’s usually 5 hours of unpaid overtime there. When it’s busy, or there is a system outage (there’s been 3+ in the last 6 months) it’s all hands on deck, and you’ll be told to work through lunch with no break. However, don’t worry as you’ll get a delicious grill’d burger for lunch instead of being paid overtime. You’ll be asked to run diversity networks which is excellent. The downside is these are also in your own time with zero time in lieu given. Work/life balance is lacking so severely to the point that staff turnover is ridiculously high. The mental health of the remaining staff is compromised, and the lacklustre counselling service is useless. You will start as early as 5:45am in the winter, meaning that you can kiss your social life away in the evenings. There were times I’d finish at a client event at 10:30pm and had to start the next day at 6:30am. Ask to see your KPIs BEFORE you start. You’ll notice you’re required to go see clients but at the same time complete a certain number of calls per day. How these are recorded is negligently lacking, so you’ll often be told you’re doing a poor job even though you’re working yourself to the bone. KPIs are given to you late in the quarter and sometimes are noticeably different. KPI reviews are completed so long after the quarter finishes. Commissions are paid another 3 months later, so they lose any meaningful connection to the quarter you earned them in. Although you’ve done the work, you need to remain at IG when the bonuses/comms are paid, or you will forfeit these. The priority is converting clients to Professional, no wait it’s to get referrals, no wait it’s contacting clients about something urgent like a margin change, no wait it’s answering calling clients quickly. Get used to conflicting and shifting priorities. The stress this causes is considerable. The amount of admin required is positively ridiculous and has a negative effect. For example, you’ll need to document the same conversation in four separate areas. This dramatically slows staff down with management conceding they can do little about it. Managers are arrogant and dismissive about this and have no experience in the role they’re criticising you about. Career progression is promised, but absent. They’ll create some management positions, but not advertise them. Instead, they’ll award them unchallenged to staff they like.

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    IG2019-10-29
  3. "IG"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     in London, England
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I worked at IG

    Pros

    - professional, friendly, working environment and colleagues for the most part - culture - modern, central, office and facilities - benefits above average - profitable, with good potential for continued growth (provided needlessly drastic regulatory decisions arent made)

    Cons

    - high staff turnover (questionable recruitments) - lack of flexibility around hours - management decision making (allocation of resources) - limited opportunities for progression - human resources

    IG2017-05-06
  4. Helpful (6)

    "Highly political"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Sales Executive in London, England

    I worked at IG full-time for more than 10 years

    Pros

    Free fruits Nice office location Great colleagues Good pension contribution Discounted gym membership Private health care Good Christmas parties and monthly free drinks

    Cons

    High staff turnover No career opportunities. Bonus is not linked to performance Promotions limited

    IG2016-11-14
  5. Helpful (7)

    "Let's be honest, it's not great..."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Trading Floor in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at IG

    Pros

    Very helpful team members at lower levels (i.e. non-management) Interesting to gain an insight into finance and markets Good office location in the heart of the City.

    Cons

    As with other reviews on this page the management here is very poor. Most junior managers are simply out for themselves and have no interest in their staff, seeking to further their own careers as opposed to adding any value to the company or its investors. The staff turnover on the trading floor is obscene - people leave after a year or two at very most. At higher levels the operational decisions are taken with a "...it's just business" outlook like they've watched too many episodes of The Apprentice - only this isn't TV, it's real life. At lower levels the confidence in senior management at operational and strategic level is non-existent. Many jobs and teams are also being relocated to Poland creating concern over job security and encouraging gossip and speculation. All in all, this is a horrible environment to work in.

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    IG2016-12-01
  6. "Interesting work alongside friendly people"

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

    I have been working at IG full-time for less than a year

    Pros

    Great people who care about what they're doing. Developers generally strive to improve their craft. Chance to work with interesting technologies. Reasonably flat hierarchy. Good benefits. Work in the City yet wear jeans and T-shirt to work.

    Cons

    Quite a lot of staff turnover since joining. Not enough cross-team interaction possibly leading to duplication of effort.

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    IG2016-03-21
  7. "Good opportunities"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Positive Outlook
    Approves of CEO

    I worked at IG

    Pros

    Hands on with trading and investment at an early stage.

    Cons

    High staff turnover and not much appreciation for staff

    IG2015-09-15
  8. "Decent springboard to jump high from"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - IT Support in London, England
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at IG full-time for less than a year

    Pros

    IG attracts and relies on a mainly talented workforce. Free drinks once a month, free fruit everyday and the opportunity to travel to some of their 16 international offices, in some departments. A friendly workplace, modern offices and great roof-gardens with brilliant view of the Thames, both East and West. IG invest heavily in technology and maintain a cutting-edge and reliable infrastructure within the business. Excellent place to gain exposure to a 'big' company that still enjoys a smaller, less-corporate feel.

    Cons

    Rampant dream-selling and lack of management coherency power high staff turnover. Those that stay are typically less ambitious and see comfort preferable to career progression. Demotivating and repetitive work with very limited training on offer. Pay is on the lower side of market rates.

    Continue reading
    IG2014-10-24
  9. Helpful (1)

    "Use to get a better job"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Technical Team Lead in London, England
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at IG full-time for more than a year

    Pros

    Good bonus and benefits. Nice office location.

    Cons

    Company has a blame culture. Management like to micro-manage staff with useless KPI's. High staff turnover.

    IG2014-08-20

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