A targeted retirement offer to employees who are 55 and older would have been a wiser strategy. These individuals have very few years left in their careers so it’s difficult to argue that this loss of talent would have a major impact to the company.
Instead, a decision was made to place all employees in a months-long state of not knowing their fate. This, in the midst of a worldwide pandemic. As much as I’m trying to be open minded, I just can’t reconcile my feelings with this approach.
Allstate will never offer a VTO again. The wouldn't have an employees left in claims.
I guess they assume the severance is a vto
Allstate cares about Allstate and being there for many years is not your safety net trust me...It's not the same Allstate!!! Do your home work.
I’ve been with the company pretty much right out of college over 30 yrs ago. There have been many changes over the years but nothing like this. The thought of an outside company evaluating your worth leaves a lot to the imagination.
These companies are done with VTOs. They can force the employees into less desirable jobs and they'll retire on their own. The misers at the top arent going to throw money at someone when they can strong-arm them out the doir.
Retire??? What does that word mean? LOL.
I’m one of those older employees. Personally I think they will keep me around to train those younger set and Indian employees how the system works and then pressure me out, either by making the job impossible or by performance management.
Performance management is already in play as it counts 60-65% of your prior 2 PDS reviews.
Seniority is nil in the newest equation at 5%.
I am over 55 with a special needs dependant with many medical bills - Already exceeded medical out of pocket maximum. Did not do well on the assessment. So much for my 30+ years with Allstate!
I can’t collect unemployment with my severance in my state and I’m too young for Medicare and I kind of have to take retiree health or give up the right to it and even with their contribution it’s pricey... I’ve done everything right and should be set but this is happening 2-4 years too soon, leaving me with a huge gap before I can collect Medicare yet no other insurance company would want to hire me at my age .. it’s pretty awful
It's not age discrimination if it's an offer @cix+16lsM68s Getting laid off is a better deal since a TRO would not give them the right to unemployment $. If you look at how much more it costs to self-insure older employees that's another reason why they want to get rid of older workers. When all is done you will see that they will have laid off just the right % of older workers to not alert EEOC, most age 50-64. I bet there will be lots of 65+ who will not be laid off since they are retiring soon. They might be shifted to new jobs to "encourage" their exit.
My theory is that the more severance pay they would owe someone, the more likely they are to keep their job. It would be a lot more expensive to pay out severance to someone who has been with Allstate 30 years over someone who has been there for 3.
Oops.. I’m pretty sure I answered a few questions on that assessment about not being afraid to state my opinion or something like that... guess between that and failing the puzzle and my age, I’m a goner
I’m sure there are those of us 55 and older thinking about retirement in the not to distant future that would like to get a package. However, please keep in mind that many of those 55 and older carry with them a great deal of knowledge that the company would likely not want to let go of at this time. (At least not until they impart their knowledge to those that continue on with the company). It would also be age discrimination. Regardless of age, emotions are running high for all of us. We need to be there for each other, whatever the outcome.
I’m not sure the extra salary paid to those late term employees for a few years over a new hire would be less than a severance.
I think Allstate would like to wash all the employees out who actually have critical thought and replace them with robotic yes “people”...just my .02¢
Or “reclassify” them and reduce their base pay by 9.9% while lowering their Band to humiliate them out the door. Dirty.
I’m wondering if they are going to purposely keep people who are a few years away from retirement to avoid severance , knowing they are going to retire in a few years anyway.