Colleagues keep leaving, even those who were relatively comfortable here. If I were the leader, I would be very worried about this because so many good people leaving is the best reflection of the state of affairs in this company. How could they not leave when everything is based on favoritism, great performance is almost irrelevant, there are no adequate raises, etc.?
5 replies (most recent on top)
AIG mantra:
"The graveyards are full of indispensable men. If you need to leave, you can be replaced. If you were doing an essential function without anyone else helping you, either the community will do without or someone else will take over and pick up where you left off."
The company doesn’t care about it. Everything will be outsourced thereby management and shareholder value increases
To the first post at the bottom of the page.......100% correct. This executive team only needs a few more years at the current stock buy back rate to push the stock price to the level where it is lucrative for them cash out their stock options and move along.
The current model is not a long term play for company success. It is a short term get rich quick scheme. This executive crew will move along within 2 years leaving AIG and whatever employees are left much worse than when they found it.
I'm 100% comfortable in AIG, paycheck aside (it's not terrible but I would like more). However I'm desperatly trying to leave because I get the feeling that the ship is sinking.
They continue to re-hire old aig people and recycle people from different dep. to fill the vacancies... And yes all this graduated guys that honestly seem like babies... they just get these guys to pay the minimum possible. Maybe these guys think that they will be nursed and trained.. how naive! Aig doesn't have any training structure nor budget, aside for that Talent/University sh1tty website or whatever it's called now, with all the courses that are made solely for the US/UK market and are totally useless in other countries. The newbyes will Just be worked to death and who'll survive will aquire tremendous experience and will than leave ASAP (they are paid so low that anyone can make a better offer). Also I see more and more people getting promoted just because there isn't anyone decent left for the role, even if they are terrible choices... it's like being promoted on the field because the one in front of you have just been shot. It doesn't make you so happy...
I'm really worried and sorry for this once great Company
You’re not getting the point. The executive team could care less if you stay or leave, they have two objectives at this point:
- to reduce the number of shares outstanding (why do you think they revised dividends in the lti to no longer be paid in additional/fractional shares and are just cash? because it keeps from creating more outstanding shares, lowering book value per share, which is the main driver of their psus
- to continue to reduce expenses, and do you know what the #1 expense is? headcount.
there is a reason they are making a big diversity drive / hiring those fresh out of college:
- they get younger (and generally cheaper) hires who typically have little to no experience in the industry so have no idea how bad aigreally is, and
- they can feed all this diversity activism around as smoke and mirrors to the general aig population for general consumption so many of the young can go ‘yes, im underpaid, but look at my company, what a difference they are making with their neurodiversity initiative!’ etc
only way anything ever changes is that enough people leave that the work materially stops / gets so bad that people begin to move business away to the point where they cant buy back enough stock to save the book value, which will torpedo their LTI and PSUs, which is the only thing they care about