modern-day feudalism - Anonymous employee StatPro Group Employee Review

2.0
15 July 2020
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

- The company can innovate and develop products real fast.

Cons

The key to understanding StatPro is the fact that despite being (technically) a listed company, it’s very much a Wheatley family company, run with the objective of squeezing as much cash as possible, at the expense of staff. The typical profile of a StatPro employee is a person in early 40’s, saddled with kids and debt, who doesn’t have it in him/her to try any harder. It’s a company of people who decided they’re ambitious to a very specific level, and they’re ready to spend the remainder of their so called careers at StatPro – assuming, of course, the company will carry on as going concern for that long. At any one time 20% to 40% of the London-based staff are in talks with recruiters regarding new jobs. There is a reorg every six months so that mid-level executives can reshuffle dead bodies in the closets, and blame them on the ones who have been ousted Ironically, when every now and then someone critical (and in a small organization, most non-duplicated roles are critical) leaves, the company goes into panic mode, and an opportunity arises to get a really well paying job; the job itself is of course not the objective, it’s the salary multiplier that can then put you in a higher bracket when talking to recruiters. Some years ago the company received “investor in people” designation, but a lot has changed since. The company will openly object to pursuit of any additional qualifications, overload employees interested in pursuit of additional qualifications with extra work, deny unpaid time off etc. etc. and you can forget any reimbursements – you’re studying on your own dime, and at your own peril Another thing you can forget about is a bonus – it’s not gonna happen, ever. Your bonus will be in 1% - 3% region (so basically couple hundred pounds), and your salary will be the same in 3, 5, and 9 years’ time as it was when you first got the job StatPro is an amusing (once you’re no longer there) combination of passive aggression, low self-esteems, and complexes. Passive aggression is de rigeur, that’s the only way anyone relates to anyone, especially along the reporting lines. It can be of some comfort to low- and mid-level employees that what they’re getting from their managers is nothing compared what upper-level managers get from Justin Wheatley. The managers don’t get told off or yelled at though, what they get is far more frustrating (and hilarious) – what they get is their carefully crafted plans torpedoed based on Mr. Wheatley’s whim. Strategic plan, tactical plan, interim plan – they don’t count for NOTHING; what counts is the latest idea the CEO thinks will earn him some recognition in the industry as a “visionary”. Which takes us to complexes – there is no other organisation in the whole world that is more defined by the complexes of its upper brass than StatPro. At StatPro it comes down to 2 main complexes: the Apple complex and the Bloomberg complex. It’s painfully obvious that StatPro ain’t no Apple, and it ain’t no Bloomberg either, and it pains the CEO to no end. There are some hilarious attempts to model the products, the processes, and the company image in the liking of the 2 behemoths, but the results are about as successful as “Soundalikes” trying to sing like Pavarotti. One factor to take into consideration when looking at StatPro jobs, is the fact that the company doesn’t really want to hire UK or EU staff. They’re too confident, too outspoken, they have “rights”, they have options – the company is very actively focused on moving people from its Cape Town office, because, lured with the promise of permanent residency in the UK after some years, they will accept just about any money, any treatment, anything. And they do. Same applies to candidates from the CIS.

Explore other reviews about StatPro Group

5.0
1 July 2016
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

StatPro is about giving its employees responsibility. You are unlikely to get micro-managed, but you are expected to work hard and be expert in your field of activity. In exchange there is a relaxed and flexible attitude towards when you turn up for work and dresscode

Cons

It has been a tough few years, so pay has not gone up much, but it does look like it is about to get better

2.0
29 Aug 2017
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Great benefits. No dress code.

Cons

There are so many competitors to the products that have much bigger names its almost impossible to sell. They love to hire new sales people and fire them after only a few months if they do not hit "expectation" which is impossible with how hard the product is to sell. They care less about effort then sales. I never saw one sales person be successful and they fired 10+ sales people in the time I was there not for lack of trying. They fired great upper management due to money and hired cheaper management that was horrible. They care more about their client services team then their sales people and it shows.

5
avatar
StatPro Group Response
8y
The comments in this post are wholly inaccurate and inappropriate. StatPro is a successful business having grown annualised sales from less than £1.0m in 1999 to over £53m at present. During this time there have been many highly successful salespeople working for StatPro, indeed our most successful salespeople now form an important part of our senior management team with 15+ years of service with StatPro. Additionally, StatPro is a clear innovator in its market with the only purpose built Cloud based performance risk solution for asset managers. This gives our business a huge technology lead versus our competitors. Selling is never easy and not all people succeed.
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