So was reading the new Severance and Enhanced Severance plan and it say for those effected by this, they will have to submit an "application" to be approved by leadership. Laughed my arsss off. Think about that, they want you to submit an application to get approved by them to fire you! Holy sh-t! hilarious. Just like that stupid Total Rewards Survey we did last month as obviously they are getting ready to bring people back into the office and cut benefits/pay. Again it will all be based on your feedback and will be your decision....when they bend you over. Corporate America is absolutely retar-ed and these people are just absolute trash. F-ck them and all their useless lies and schemes. Can't make this sh-t up!
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@xq as I read this is wondered if I wrote it, spot on!
Reading all this is hilarious, so many unfounded rumors and people blanket covering everyone with an email they got. Everyone is not being mandated back to office. Most departments arent even affected by this reduction. Its actually a generous package of youre nearing retirement, which is who they'd like to see exit as long as they arent in a critical role. Pensions will still be paid and if you retire they pay it, if you leave early sometimes you get a buyout offer and it has nothing to do with the amount you have in the pension, aka having less than x amount isnt a trigger. My gosh, with many of these comments I can see why a company wants you gone, im surprised some with these attitudes ever got hired. Maybe thats the problem, managers dont have the ability to conduct an interview without a template and hand held instructions
@eh what department are you in? Some of our best team leads in life are fully remote. So this can’t be for every department
Agree, but they have a huge problem. Most areas in claims....Auto and Fire, 70% of their workforce has less than 2 years with the company. These areas are total disaster sh-t holes because most of the leaders and employees have no clue. If you look at all the reassignments, it was mostly the tenured folks to bail them out which they have done again and again. Now in another 1-2 years after they get the knowledge transfer they will be fair game. I think what everyone is forgetting is the new severance plans, it's more of an announcement of the severance programs for future mass layoffs. Some will get it Sept 15 but it's about what is coming. SF can't grow and ultimately they have to address the elephant in the room. Agency! When they do, they know we will shed millions of policies with the carnage and sabotage by the useless SF Agents.
Expense ratio is 30-31%- these change a percent or two each year but roughly they are:
11% - Agency Commission
8% - Markeing and Acquisition
6-7% is LAE-Loss adjustments expense. (think claims employees, legal, vendors)
4% General Expenses - All other employees and facilities/rents
1-2% - Taxes and Fees
Doesn't take a rocket scientist to see where the fat is with State Farm that is not necessary or needed. Progressive expense ratio is around 21%! They have fu---d over claims so much there is nothing left to cut expect maybe ILR, Express and trying to force everything virtual. Underwriting is done so they will save their but that is not enough to help. Agency is the only option left, if they don't get away from the Exclusive Agency model, SF will basically be done in the next 5-7 years. Good riddance!
I think it stretigic on their part. Not all that volunteer to exit will be chosen. This allows them to keep a workforce and get rid of higher paid older employees. Why would someone within a few years of retirement not choose to go on. Only if they just want to make it to full retirement. They need to offer that in with the exit program. They can't allow everyone to take it or too many will leave. Problem with voluntary and older employees. They may want full retirement and hang around to 62. They really need to offer both for those over 55 and then they could still pick n choose
Job movement is basically frozen as they removed a ton of postings. I had applied to a job and got a notification that I was not selected. My leader reached out and they said the postings were pulled/frozen and everyone got the same notification. They were told all postings right now have been frozen even if they are still outstanding. This is just a continuation of all the job reassignments and trying to place all of the thousands of underwriting folks that will be out of a job over the next 12 months. Plus they are panicking as growth has stopped and layoffs are starting to go through the roof. They have all the forward looking data that you do not have. Unemployment is going to be sitting around 6-7 percent in the next 24 months and housing and car markets are collapsing. AI layoffs are starting plus all this delusional corporate BS about RTW, entitled workforce, we are going to change workforce culture, and basically assert our control over the America slave worker. Good chance thousands of federal workers will be laidoff too. SF thinks it will have thousands of desperate people standing in line to work at this useless sh-t hole. Progressive has officially passed us and not only that we are not going to be able to catch them. It just going to spiral down so grab a drink and your favorite snack and watch this h-ll hole fall apart. Going to be funny to watch. In the end stupidity and incompetence is always exposed!
We were told yesterday everyone in our unit remote being phased out over next 6 months. Not sure what others have been told.
Corp South is virtually empty now
There are efforts that are an enterprise priority and will be adding more staffing. This is very much like 2018, if you can move to a priority area do it now, I assume after Sept 15th job movement will be frozen like they did 7 years ago during the HCL boondoggle.
And not all jobs will be in office with current staffing numbers due to lack of space. It might happen in the future IMO, but the workforce would need to be quite a bit smaller.
I am constantly hearing that the hubs (especially Atlanta) were a “failed experiment” so would be looking for an exit plan if I was there.
Good luck all. I’ll be taking antacids like tic tacs and anxiously waiting turning 55 so I know I can just push the button and leave. I don’t even think about 62 anymore, this place which was once a loved career is just a job
@dv there’s no room in Illinois at corporate? Like what? Make it make sense because it doesn’t
@d5 People seem to forget when corporate south had people sitting at desk in the hallways because "they didn't have room".
They can find room if they want.
@a9 no you weren’t, liar.
There isn’t enough physical space to bring everyone back 100% of the time.
@ap they will bring everyone in claims back 50% in January. SLL and above are already on this cadence. There will be rotating roster week 1 through 4 to reconcile logistical issues.
@a9 We haven't heard anything about coming in more. Although they're bringing people in more (temporarily) while they go through training. The hub I'm at doesn't even have enough space for all employees to come back to the office full-time.
My department has been told nothing. Currently 4 times a month. So once a week. I would give up PTO to keep it like this
We were told today 100% back to office no more remote not sure what others are hearing saw this coming a while ago :( Email make no sense
Forbes......Things Are Changing Quickly. They are going to have plenty of places for you to sit and be micromanaged! Someone has to pay for the universal basic income for the people sitting at home unemployed!
"Estimates vary, but experts converge on a transformative window of 10 to 30 years for AI to reshape most jobs. A McKinsey report projects that by 2030, 30% of current U.S. jobs could be automated, with 60% significantly altered by AI tools. Goldman Sachs predicts up that to 50% of jobs could be fully automated by 2045, driven by generative AI and robotics."
You will be in office 50% of the time
Did the survey have any continue to work from home options? I can’t remember