There are fewer and fewer of my colleagues here. People go to companies that have a better leadership, to companies that are not stuck in the past.
What is leadership hoping for anyways?
Do they really think they will find adequate replacements, young candidates who will want to work in this company that is stuck in the past?
Someone should do an investigation into the governance of this company. It appears it flies under radar as a mutual company.
They have received zero consequence for being over compensated and under performing. What is their incentive to change exactly? They are accountable to no one.
Why should they care about the future of this company or its workforce? It's nothing more than a piggy bank for them. Think about it, board members make (on the low end) a few hundred grand per year for 1-2 weeks of work. Most of them probably sit on the boards of 4-6 companies, doing the same at all of them. If HCSC goes belly up, they will just go get appointed to another board. It's similar for Maurice and the other executives. What happens if they get fired? They just go get a seven figure salary at some other company, hired on by the same board members who helped them run HCSC into the ground. And don't forget the severance, Steiner walked away with around 30 million for her last year. It's a big club, and you ain't in it.
I agree with the first reply. It’s appalling that Milton Carroll, HCSC’s Board President, makes $9 Million/year. Which is ridiculous given for-profit counterparts @ Humana & Cigna receive roughly $500K. Maurice Smith is making a ton of money to be a figurehead, plain & simple. He runs nothing. Carroll does and that’s why, for the most part, HCSC’s “leadership” is laughably weak compared to its competitors.
What do you expect from a company that has a stagnating board which rapaciously overpays its Chairman of the Board (8-10 MILLION annually)? A board that inbreeds with morally bankrupt companies like Halliburton and hires a temp CEO from them that had obvious ethical failings.
What do you expect from a company that allowed a new CEO to execute a purge of the leadership ranks of those that hadn't historically kow towed to this new CEO?
Bottom line the company is in a closed insurance marketplace and the State of Illinois has no interest in holding this "mutual" company accountable. HCSC's Board and senior leadership can be below par and over compensated because frankly the marketplace and state permits it to be so.