Something strange is going on.Where are the results?Today is the deadline for updating 401k contribution and tax withholding but no results.How do you make decisions without information?Are they going to take bonus away since he made so many mistakes and caused so much loss?13 billion in losses is insane.
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@3wua-no but it allows me to drive a better car, live in a nicer home in a safer community, send my kids o better schools, and obtain better health care and take nicer vacations. Btw, live longer too. I know you prefer socialism over meritocracy.
Leadership at SF provides no value to the company nor its customers. Too much angry and hate filled wokeness at the top that has gone way too far from fundamental values and ethics. As long as we continue to accept their oligarch lifestyle, we are doomed to not only lose the company but the country too. Wake up SF! Because you bought yout college degrees, JD, esq, MBA etc does not make you better than the worker you sell your lies to.
Except for claims service and customer service roles zero roles at SF should get any bump or bonus in r incentive. Or raises. Freaks playing stud at policyholder expense.
Do I get a bonus when I pay my premiums?
The company used to be about the internal and external customers. Now it is all about the internal customer. So much for a vision. Fast way to go down the toilet by taking big bonuses on the backs of the customers while the company is reporting record losses. Now that's a good neighbor for you.
I like turtles.
It would be socially irresponsible for State Farm to give anyone in the company at any level a bonus based on record losses. They promote the woke inflation agenda.
Based on numerous posts on this site from claims personnel describing how they just perform the bare minimum you are extremely naive if you believe “ everyone in claims earned it.”
@2ftg+1lFfMtan
feel free to not accept your bonus if you feel that bad about it, I know in claims everyone earned it with all the mess that was 2022 and will continue to be in 2023
With the losses the company has reported, how can anyone in good conscience even think about accepting a bonus?
MIP is going to be 94%
Actually, the executives will feel the largest impact. Their compensation is proportionally more “variable” with fixed salary as a minor component. May be beyond your comprehension though.
Too bad that is not reality for the executive team.
Company has a loss = so should all employees. SVB model.
"leaders" coming to this dumpster fire of a site for their bonus information. Unreal.
MIP. They will send it out in an email next Tuesday. You can see it in Workday on Tuesday and your paycheck preview in Workday, Wednesday. They always wait until the very last minute. You will get bent over for MTs decisions....it will be less than half of last years. If you are new to leadership you will get prorated EIP and MIP.... You will never see another good MIP again....they are using it to finance all the losses and to go out and buy new business. It's not pay for performance and your merit percentages will now suck! Be happy with 2% merit each year......it's the sh-t they don't tell you when you interview for a leadership job. Most CSs that have been with the company for 10-15 years, that are high performers, make more than most of the TMs because they get OT and their EIP is not reduced when the company takes a cr-p/expenses go up. Cheers! Welcome to leadership, the sh-t roles up and down hill supervising the lazy r-tards they have hired!
No calculator for MIP and managers do not hear what bonus is until after the board meets in March.
This post makes no sense… How can you be a leader when regular employees knew how much their bonus is back in December?
Does the MIP not have a calculator? If not, that’s something you probably should have shared.
Board elected to not approve any bonus/incentive pay based on the historic losses.
If my MIP is being paid on 3/24 and the deadline to change my withholding information is today then how do I make a decision if I do not have the numbers.I am a new leader and was told that usually they send an email the Tuesday the week before to let you know what the MIP results are.I do not know what the results are so I can not calculate what the bonus is.So I don’t know how much I want to throw in to my 401k. Again today is the deadline for the pay period . That is my point.
Are you suggesting you are unable to make any financial decisions until they pay the EIP? Makes no sense. Its 03/24 payday btw. Tons of resources on this if you care to read about it. They also had a calculator on it so you knew what your payout would be.
If you want to make a post about underwriting losses, then just make a post about underwriting losses.