Does anyone know what all these VPs actually do? Other than wasting money?
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In a good year, bonus and equity at the SVP level are > $650k. Money talks.
@16c Easy to say when you are untested and have never had a couple hundred Gs dangled in front of you to just go along with whatever executive plan is required. Maybe you're special but most of the people I have seen in my lifetime would absolutely do whatever and say whatever it takes. In fact I've known quite a few people that would do far far worse than just cook up some rhetoric and make a couple business decisions for what is at stake for executives bonuses. I'm not telling you this is right, I'm telling you how the world works.
@13e
So it's cool to sell your integrity for money. Got it. What a great excuse.
@rv Executive bonuses are in the hundreds of thousands, of course they will never say anything but good things and never share truth of ground level. They are human and they will say whatever they have to say to maximize the bonus that exceeds what some people make in years. You'd do the same.
@kk+1
Then you must know very few people who have to truly work hard, as you call it, to try and make ends meet.
Going to meetings and reading excel sheets critiquing the actual work done by front line employees must be brutal.
Yes. They carve out little political fiefdoms for themselves and make sure that the boys at the top NEVER hear the reality of on the ground work at Allstate. They are the unyielding middle layer that ensures that any attempted transformation stops in its tracks, lest it threaten their little sliver of glory. So every time a new transformation strategy is tried, they put the new buzzword paint on their old behaviors, rah rah and cheer lead about how cool it is and how well it's working with the big boys, cheerfully shoot any messenger who tries to get the message out that they are stopping things and they are the problem, and then scatter like roaches when the cr-p rolls down hill and it's time for layoffs.
Lather, rinse repeat.
What's more ridiculous is the amount of senior manager level and above with 1 or 2 direct reports.
Sometimes you have more than half of an org structure as management.
You could scrape off the top 3-4 levels of "leadership" that make up so much of the "cost" of this company and you would never know they are gone. They would never be missed. Worthless, egotistical wastes of company money that prove very very little worth to this company. In fact they are responsible for 90% that is wrong with this company through their poor decision making and lack of basic intelligence.
But of course it all runs downhill and those wastes of space point their filthy fingers at the underlings blaming them for everything that they themselves caused . All while shi-tting fake rainbows and sunshine at the shareholders keeping Allstate's stock so grossly inflated from what is actually going on within the company.
There’s a ton of waste in the company and the VP level is the worst offender in that regard. Many many useless employees adding no value whatsoever. Sad!
Such haters. Married to one of them from the past. Never met anyone who worked as hard in my life.
@fq oh you’re one of those that subscribe to “it’s because the newbies don’t have enough clout or support. It cannot be because they’re not that good.” Look around you and see how many of these leaders a lifers. The majority came from somewhere else in this current roster of senior leaders.
@f5 you sound like an allstate lifer trying to protect your nest and refusing to change.
The reason this company is dysfunctional because of stagnant aged thinking from being at same place for 30 years, not outsiders.
And thing a retiree can reinvent this place is your tell-tale sign
Reason Allstate is dysfunctional is the amount of outside leaders. No relationships developed, no idea who to assemble to move work past goal line and a bunch of external clowns making large $$$. Rehire retirees to get work done on time and budget.
Fun fact? Check out how few came up through the ranks at allstate.
There are too many VPs and Directors. Remember many years ago when they cut some 4000 home office types and nobody could tell a difference. But don't worry kids, we are primed for another 2% performance raise.
They represent the fluff that could be shed that never will be. Retain customer facing workers, and sure - a level of managers to deal with the BS that arises from their poor hiring and job design.
The Rest? Dump ‘em ALL and see the stock really skyrocket. You wanna compete with Cure and Lemonade? Then walk the walk. The leadership here is a liabililty not an asset, but they’re the ones who also cook up the stories and feed their nonsense to stockholders.
@OP At $360 a year plus 60 - 75 additional present for stock options and another 50-75% for bonus, you can understand why few leave on their own. In an average year, it’s a $1m a year cakewalk.