Heads up. All management was out on notice 2 weeks ago.
State Farm has essentially initiated the FANG metric systems for divisions and employees. (This is coming to other Fortune 500 companies too, so you really can’t run from this new corporate model).
How FANG metrics work:
- You must be a high performer at ALL times.
- The concept in procedure work 2x is better than average performance.
- Innovative/software 10x is better than average.
- Focus on team vs individual.
- Hard work does not equal reward. Outcome and high performance only count.
You can go look at the pitch decks for these companies to show you the company values.
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Now how this works at non-fang companies
- Unlike fang employees, State Farm and other non fang company employees will have high pressure ALL the time.
*But you do not receive the rewards of FANG companies in San Jose. (Notice even if fang employees relocate outside of San Jose or nyc their salary drops, but the metrics you are evaluated in are still the same.)
- The evaluations start first with tenured employees. If you are tenured you should know your job. If you are average or low then you need to change or you are fired.
- Then comes the person not tenured to be squeezed second.
- New employees have a short time to grasp new concepts and either become top performers or get fired.
The average time is 3-5 years at a FANG company.
I can share I am upper management at State Farm. Relatives are directors at other major 500 non tech companies and they are implementing FANG metrics in the next 6 months.
All insurance companies are moving to this model.
It use to be LEAN, but since FANG cold get so much out of their employees other corporations have decided to implement this method.
My personal thought is people who willingly choose a FANG company know the pressure going in. They are rewarded financially and you can write your own ticket when you leave. I have no idea how a 45k salaried business analyst with 7 years experience is going to find anything appealing about this structure.
Oh and this IS implemented universally in a company in ALL employee roles.
A heads up bc it’s coming to Allstate, Usaa and nationwide ASAP. My friends are mangers there. One worked for a FANG and recognized it right away. So did two State Farm people whose spouse worked at fang companies.