I think if you’ve ever been employed at USAA, then you should realize that what is happening now is that executive management has determined that they can replace all full-time employees with contractors. They don’t have to pay benefits, such as insurance, bonuses, PTO, and all other benefits that made USAA a good place to be employed. When I was hired, my salary was lower than industry standards, but I was told that the benefits were far better than any other employer, and that we were guaranteed no less than 13% bonus every year. Before I left USAA, that turned out to be totally incorrect. The highly crooked executives at this company now have no scruples or integrity, and if they can replace all full-time employees with contractors, then they can line their pockets with more money. I know this to be true, because an employee who was laid off, then received a notice on LinkedIn for her very job, but as a contractor. And because she took a severance, she can’t even apply for her old job as a contractor for at least a year. What is going on at USAA is an insidious plan that was not hatched overnight. What Stewart Parker started, Wayne Peacock is finishing, and it will be the final nail in the coffin for USAA before he is finished.
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Agree that their health ins was good. We switched to my spouse’s when I left. But my life is better and I won’t die of a heart attack inside that building from the incessant chaos, fire drills, and High School politics.
I got laid off on the March round of layoffs and I will say one thing that I found out the hard way: our benefits were awesome compared to the ones I found outside. To get something equivalent for medical, I my cost per pay period would be $572 per period vs. USAA I paid $98 per period and my healthy points knocked that down to about $60/period.
So those just going thru this - ask about benefits and their COST from potential employers.
The thought is outsourcing is cheaper and safer than actual dedicated employees. We just ignore the continued data breaches. Consider that the cost of running a business. Plus a more efficient business means a bigger bonus for Wayne. Now that his new mansion in Florida is complete, he can now sit back and wait for the golden parachute to open to spend more time with his family.
I'd like to see how outsourcing IT - Claims would go for them. LOL! But seriously, IT - Claims sux monkey b****. It's He-l on Earth. Morale is way low. Most ppl want out of there. I'm one of them.
She can take those RFPs and jam them where there is a lack of sunlight
I think it depends on the area and budgets… I’ve been having to help a lot of business teams look for early terminations with contractors to find money. Projects/RFPs are cut all the time with expense cuts. Less demand/requests coming for new contractors. It’s been way slower lately than recent years.
Make no mistake about it that Wayne has been at the center of contracting and offshoring for 22 years. In that sense he alone is responsible for the degradation of quality and service over the past two decades.
Really, the contractor work was more thorough and well documented? Why did regulators want us to move to FTEs then?
Request for Proposal
They are searching for cost to perform the work.
What does RFP mean?
I have heard AML is now hiring up to 125 contractors in India
They never learn, for the past three years they were criticized for having too many contractors. That the regulators could differentiate between work produced internally versus by contractors (contractor work was more thorough and well documented) The bank had to seriously reduce the number of contractors. They were all supposed to be gone by June, then September if 2022. And did get rid of many, without FTE to absorb the work.
I’m so glad I left last year. My spidey senses told me it wouldn’t get better and they were right.
It is happening in the bank for sure.
I can see this in IT/data, but what about other areas like risk/marketing, etc..?
Even with data science/AI, would they outsource
I find this to be accurate. I worked for Pacific Life for 10 years and they started on the same path in 2018.
Basically met with Accenture and started following the AIG playbook
outsource outsource outsource
contractor contractor contractor
India India India
= Winning