The worst thing about SF is that it is a Mutual Company and has nobody to hold the Executives accountable for their actions. They stole the voting proxies, people have forgotten that and can hide from the government. Also, remember MT made himself, President, CEO and Chairman of the Board. Basically gave himself a blank checkbook! A Mutual Company works when the Executives are in it for the mutual benefit of the policyholders and employees. Hence the name! When you get incompetent and immoral leaders in place (MT, PS, RY, JF, CS, KC) like we have now, they can abuse the system. They fleece the policyholders and employees out of every penny they can to enrich themselves. Shareholders are not much better but they usually demand a high level of competence that we do not have. They pay severance to get people to leave instead of the games, usually are more open about what is coming and doing layoffs. They make changes when stuff does not work. Shareholders would fire all these incompetent goons and get away from the useless agency model. We have been hiding for a long time behind the SF Mutual Company and MK getting called in front of a congressional panel recently actually scared the sh-t of some Execs because they saw the possibility of getting found out. It will catch them....they are all crooks!
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Previous poster is correct. This company is soul su-king. Give them as little as possible.
@se your Manager will not remember this , you want to know the worker bees are? ho remembers? your family , they will remember your not being there , you being stressed out , you being ill due to stress, so for your own sake do what the job asks for but nothing more, no more sacrifices , dont let them take from you anymore life is more than a workplace.
This is no BS! Look at other multi billion dollar companies.....ie Boeing. Can you imagine how strong the worker bees are? If you were to shut down for just three days SF operations with no checks going out and capital flow, what the trickle down effect would be to our economy? Contractors, body shops, etc...... It's time they wake up that the employee expense is just as important if not more important than their big six and seven digit checks.
all the overtime, all the aggravation putting up with the constant mess of being understaffed , mistreated and abused and at the end of the year your Manager will not remember this , you want to know who remembers? your family , they will remember your not being there , you being stressed out , you being ill due to stress, so for your own sake do what the job asks for but nothing more, no more sacrifices , dont let them take from you anymore life is more than a workplace.
@a3 spot on!!!
In their eyes, they have executed the plan brilliantly and they still see it as headed in the right direction. They view employees as an absolute burden to their success and want to eventually run off every single one of us. The only way this company has any chances of survival is to hire nothing but sub-standard talent that they can use and abuse. They are now in the process of running off the remaining tenured employees and create a living he-l for everyone else. Going to start reducing our pay and benefits too! If they can keep everyone including leaders at basically the starting salary then they can continue to pad their paychecks and bonuses. Forcing everyone into the hubs is the only way to continue to run through tens of thousands of employees. Look at Amazon, they have a turnover rate of 150%! Don't think we are not following the same plans and it why companies have thousands of job openings while laying off thousands at the same time. It's a scam and these people are crooks!
Well obviously we use to be successful. MT got us going in the wrong direction. We've been heading in the wrong direction since MT had the brainstorm idea of the hubs.
Like I said: "They are legalized Mafia!"
@e0 1. That’s less than $2000/policy
- Temporarily dropping to #2 after 82 years at #1…won’t be dissolving anytime soon.
- Even if you wanted to dissolve, there are 51 Departments of Insurance whose top priority is to not allow that to happen.
@dj 82 consecutive years at #1……and you see only failure🙄
Since state farm is a mutual company, if it is dissolved, won't the 150 billion in reserves be split among the policy holders?
Whoooo hookoo! I'm a gonna be RICH!!!!
"We will see in 5-10 years who passes State Farm" He was off by 3 years!
Like he said State Farm should not exist....and it won't shortly! They gave a brief illusion of growth and spent $27 billion buying cr-ppy business. The only growth SF ever has is because it crushes employees and takes billion dollars losses. Big Dog...Big Dog 2.0.....That is not a business, that is a scam!
"Progressive Insurance Group ascended to the top of the U.S. total automobile insurance ranking with a 16.4% market share in 2024, just edging out former No. 1 State Farm Group's 16.2% market share, according to a new Best's Ranking.
This past year, Progressive saw direct premium written rise 22.2% to reach $70.84 billion, while State Farm's DPW rose 17% to $69.76 billion. "
@an+1k11ph2pf https://www.carriermanagement.com/news/2022/05/02/235622.htm
Damn !
@as I worked there for a very long time. Recently retired. If some of you hate it so much, go find something else. Apparently, if this site is to be believed, it’s literally better everywhere else.
You are a troll or an id-iot or both! If you worked here you would understand and know nothing works, I mean nothing at all. Employees hate it and State Farm lost $8 billion dollars in 16/17 and then lost another $27 billion in 22/23. They have lost market share every year for the last two decades and lost their #1 position earlier this year. The $27 billion dollar loss is not only one of the largest losses in the history of the P&C industry but one of the largest losses of any business to ever to exist. Our technology is ancient, we hiring nothing but junk employees, our service su-ks and most of us are trying to find a way out. Warren doesn't work at SF and said that while we were buying horrible business back in 2022! MT took a $22 and $24 billion dollar bonus (highest of any CEO in USA) on top of an $8 million dollar salary and made more money in those 2 years then Ed made in 30!. Not to mention what PS and MS stole. MT made over $125 million in 9 years as CEO! I think he got rich and so did all of his con men and women! Place is a total dumpster fire and will continue to sink.
@OP Warren Buffet knows a little bit about business and a little bit about insurance. Possibly even more than you. He says State Farm is a miracle that should be taught in business school. Because as he puts it; “It’s not supposed to work. Nobody ever got rich off of State Farm.”
They have the DOIs pretty upset with them but they have limited authority to basically do anything except deny or approve rate decisions. They let all the front and second line leaders deal with that chaos. DOIs don't really get into all the internal schemes and chaos that causes the complaints. You would have to get subpoenas and court orders to crack open this nut and see what is going on under the hood. SF would probably just pay someone off like it did before and if it got caught 10 years down the road oh well....