UHG’s standing policy on employee salaries and benefits are to neither lead the industry or be last. This is literally a first person quote from someone high in the goodness chain (director). They will pay for talent To innovate and get the ball rolling on new projects and then replace tenured, dedicated employees with less qualified individuals. this shortsided bullshirt results in delays, errors, and affects our members. The Senior leadership does not extend their concern beyond themselves. I’ve become so disillusioned with this company with whom I’ve given almost 2 decades I’ve already started applying out.
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Why give 15, 20, years to a company that doesn't give a rip about us. Youll never get that time back . are the c suite salaries "Middle of the pack"!!!
Regarding senior leadership and their wages, most are paid an annual cash salary ranging between 2 and 4+ million a year. However, they are granted equity in stock. The CEO OF Optum was given 18 million in 2018 or 2019. So, by cutting labor they an essentially increase the value of their holdings. It makes sense to do so. And in terms of raises, it increases in percentages the higher up the grade scale you go. Say he gets a raise of 3% on his base salary of 2 million and change (not counting the other 2 million he receives as payment or the equity he owns or the 18000 bonus), a 3% raise will be 60k. If we take all of it into account, he will increase his annual income by 600k or thereabouts. Regardless, a raise for senior leadership could keep 1 to a dozen tenured, knowledgeable employees on the payroll. Make no mistake, they DO NOT CARE about the people who actually make the company run. Also, in 2015 Aetna Insurance raised their starting wages to 16 an hour minimum, and I think Retroactively raises wages for their other employees based on grade and time in service. The CEO of Aetna did so after learning the lower grade employees were making touch decisions, like “do I pay me rent, or fees my family?” All of this can be verified online from reputable sources. When the chips are down, they will cut talented individuals or entire teams and relate them with employees that have limited knowledge in this business resulting in incorrect claims processing, incorrect adjustments, a ton of provider abrasion over the course of a year until the appeals clock runs out, but more than that, the slack must be picked up by those tenured employees who have experience and at the same time, they must acclimate the inexperienced. In my experience it’s why so many of my coworkers have left. Burnt out.
They bought 20 years of your time. Time that you will never get back.
Do the 7 and 8 fig execs have this policy or is it for only the wage slaves?
This is accurate! I was given a hard time about the quality of my “finalist” candidate pool last year and my leadership was questioning if this was the best we could get. I said well it’s the best we can afford given our salary range.