It’s always sad when an agency dedicated to the proposition that all banks are created equal…equally bad, that is…falls short of its lofty ideal of seeing evil where others do not and wielding upon it The Sword of a Thousand Truths. Yet, we find that what we previously thought was just a minor dyspeptic episode suffered by a government bureaucracy otherwise chock-full of pristine beauty, peace, and contentment is, in fact, a virus of employee morale malaise that makes Ebola look like a cold sore.
The Financial Protection Bureau, the U.S. government’s newest agency championed by Elizabeth Warren to regulate financial institutions, is suffering from sliding employee morale and distrust of the agency’s leadership, according to the latest internal survey of its workforce.
Among the red flags raised by the survey obtained by The Washington Times, was that CFPB workers registered the biggest decline in optimism when asked whether the “organization’s senior leaders maintain high standards of honesty and integrity.”
Conditions inside the CFPB have deteriorated so much that the agency was forced this fall to solicit outside help for equal employment opportunity issues such as counseling, mediation, investigation and case management services, signaling it may not be able to handle the volume of employee complaints with its in-house resources.
According to its annual employee survey — which hasn’t been released publicly but was distributed internally Oct. 30 — opinions have shifted significantly against the CFPB this year. In 41 out of the 75 questions asked, employees’ favorable opinions decreased or unfavorable opinions increased compared with last year.
the bottom 10 most unfavorable survey results revolved around performance reviews, proper recognition from management, employee empowerment, the ability for an employee to climb the agency’s ladder into a better position, and satisfaction with senior leaders’ policies and practices.
As a silver lining under this dark cloud, in 9 areas, the Bureau’s employees rated the Bureau higher than its “peers” across the federal regulatory landscape. Although the article doesn’t list those 9 areas, we assume that one of them involves superiors spraying their footwear with Eau de View Strawberry to make boot licking a less disagreeable task.
Before the bureau’s opponents take heart from the possibility that the proletariat might rise up, throw off its chains, and slaughter its overlords, the survey demonstrates that notwithstanding the fact that the CFPB is a lousy place to work, its oppressed minions remain true believers.
The greatest strength at the agency is its employees’ belief in the value of the work they do, according to the survey. More than 90 percent of employees at the CFPB feel the work they do is important. They also are satisfied with their physical work environment, such as the noise level, temperature, lighting and cleanliness. Physical conditions at the agency had the largest jump in employee approval year over year.
Unionization and newly renovated workplace palaces apparently offset, to a substantial degree, the fact that your bosses suck golf balls through hundred-foot garden hoses. Therefore, expect the disgruntled foot soldiers of the Adjustment Bureau to continue to show up in the back pockets, and look over the shoulders, of evildoers (i.e., financial institutions). Being discriminated against, bullied, and unfairly reviewed apparently not only does not deter an ideologue from his or her progressive march toward utopia here on Earth, it does not even slow his or her pace.
CFPB delenda est!