High turnover - low morale firm - Associate NorthCoast Asset Management Employee Review

In my opinion, leadership culture under the current CEO, Patrick Jamin, has significantly deteriorated morale and retention. The complete and exact opposite of the 5 star work environment of founder and former CEO. NorthCoast has been acquired 3 times in 4 years, in my view, there has been no regard for employees in each step. From my perspective, Patrick frequently walks around the office monitoring employee screens, creating a sense of surveillance and distrust. Raises are minimal (3-5%) and given without regard to individual performance, removing any incentive for excellence. From my experience, while there’s talk of fostering autonomy, in practice managers are pressured and often bullied into enforcing rigid control. Promotions are rare — in several years, there has been that one person has been formally promoted. From my observation, the CEO will occasionally create new titles that are invented to simulate upward movement, but these roles often lack any meaningful change in responsibility or compensation. Compensation across the board is significantly below industry standards, further contributing to low morale. From my observation, in just the two years under the current CEO's leadership, more than 20 of the firm’s 30+ employees have left with some roles experiencing turnover as high as three replacements. It is of my opinion, this high attrition appears directly tied to the CEO’s demeanor, tone, and general treatment of employees.