Transact Reviews

4.2

81% would recommend to a friend

(133 total reviews)

Alex Scott and Tom Dunbar

98% approve of CEO

83% positive business outlook

Transact has an employee rating of 4.2 out of 5 stars, based on 133 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The Transact employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

133 reviews
2.0
26 Jun 2018
Recommend
CEO approval
Business outlook

Pros

- Good training & steep initial learning-curve. A good place to gain a high-level understanding of UK intermediaries. - Reasonable remuneration for operations role although they'll take their pound of flesh & competition pay more. - Great office in prime location. - Strong industry reputation which looks good on CV. - Good systems.

Cons

- Highly stressed, negative and frankly unwell workforce. Two of my immediate colleagues were signed off for long-term stress during my time in the business. Management will happily pressure staff into this situation and then unapologetically manage them out once they reach it. I resigned long before this happened to me. - Learning fully curve plateaus after 1 year. - Middle management are patronising, anti-intellectual, box-thinkers who have been in the business for decades without changing their approach. - Hierarchical structure provides no access to senior management. - Minimal progression - supervisor role yields a meagre pay rise to become a formalised dogsbody. - High turnover - staff typically stay 2-3 years before moving on to businesses which cater for their ambition. - Average benefits package (don't expect to retire on the staff pension). - Immediate competitors pay more.

1.0
19 Oct 2015
Recommend
CEO approval
Business outlook

Pros

Bonus was a large proportion of salary (low salary) 9 - 5 job, no one works a minute more than they have to.

Cons

Suppression of employees Culture of ignorance No empowerment No career prospects Unskilled middle management Low salary Few benefits

avatar
Transact Response
9y
The salary, bonus, benefits and working culture is a real selling point here at Transact and we do work hard to ensure this is kept at market rate and attractive to candidates. We are constantly looking to improve this and have recently increased our annual leave allowance, our company pension contribution and are looking to add in a travel loan option this year. We are particularly sad to hear that you feel the company was not able to offer you the right career progression and that you were frustrated at the management structure. Our senior management and training teams do work with the line managers on a frequent basis to upskill on any areas identified for development and we do encourage an open feedback culture. Transact encourages progression and is keen on developing employees in their roles, we assist individuals in their continuous learning supporting with the completion of professional qualifications and internal career moves. We are a medium sized organisation and do not have a particularly hierarchical set up favoring the shared responsibility that comes with a flat structure. This has worked well for Transact’s growth and culture historically but we are aware that this can lead to a select amount of career options. Where possible we do recruit internally and offer various departmental moves such as secondments however we are always looking for ways to improve this.
3.0
19 Mar 2016
Recommend
CEO approval
Business outlook

Pros

Bonus payment is roughly 30% of salary Knowledge in departments is rated highly Friendly staff and everyone seems approachable and a lot of hard working employees.

Cons

Lack in progression, HR promote this well when interviewed however management fail to assist. Bonus is paid over 6 months and salary is low. Management are the problem with the company, often out of touch and they will not listen to staff they consider 'below them'. They have a bigger problem - client operation employees are leaving transact at a rate they cannot recruit in time, so the work is affected overall. This should wake them up and appreciate the staff that do actually work hard.

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Transact Response
9y
Thank you for your feedback. We are working with the management team to ensure staff are more aware of the routes of progression available to them. Our Learning and Development team provide some great opportunities for development for staff and we are ensuring that staff are made more aware of the development the team can give them in order to allow them to progress to other roles within the organisation.
Viewing 1 - 3 of 133 Reviews

Glassdoor has 138 Transact reviews submitted anonymously by Transact employees. Read employee reviews and ratings on Glassdoor to decide if Transact is right for you.