For all their flaws, I don't think I appreciated nearly enough how valuable it was to have sr. and executive leaders who were close enough to retirement to actually stand up for what is right or even just to stand up for a coherent strategy longer than the next earnings call. When they changed the retirement rules and forced out everyone near retirement a few years back, I didn't realize what a death spiral it would put us into. With so many insecure and new leaders they don't stand for anything besides brown nosing and being sycophants. On top of that they only hire people who are also sycophants, the whole thing has now spiraled to the point where there is virtually no good leadership left.
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@mn when you start casually accepting that as a truth it might be time to reflect on: "He who fights with monsters should be careful lest he thereby become a monster."
Share price go up tho.
That’s kind of how businesses work. Pretty much has always been like that
@kh Saying Allstate is 'world class' is like saying something is 'military grade.' People who've actually been there know exactly how empty the term is and what it really represents. But you do you.
@kh That was an excellent impersonation of the typical quality of middle management at ALL
Sorry not sorry that you can’t HANDLE what a world class FORBES 100 organization looks like, back to your grunt work wagie!
"Talent" and "Allstate Management" is quite a laughable comparison.
@cw pretty low praise when ALL barely keeps up with the S&P 500 and is massively outperformed by PGR
The CONSTANT “carousel of talent” at the mid to upper levels has resulted in continual chaos. It’s a business school case study in dysfunction
Allstate is a rudderless ghost battleship with various flavor of the day captains grabbing the wheel for a few years and steering with a sycophantic middle management crew enthusiastically cheering that the ship is going in the right direction even though they're rowing furiously the opposite direction. But they continue to get bonus checks. Meanwhile the people who work in the bilges who can feel the ship scraping against the bottom are not allowed to let the captain and the officers know what they're seeing and hearing and then get periodically reimagined right off the ship.
Fixed the metaphor.
esurance talent that came to Allstate was pitiful. Rendered no value with most getting roles in same way as mother company, internal politics and a$s kidding. Most left as they could not stand on own two feet.
Stock price at all time highs though.
Esurance was a canoe, small and therefore easier to pivot. It was easy to make processes when your entire casualty department was only a few hundred people, you only had 5 figure liability limits and you’ve got the backing of a parent company.
Allstate is a cargo ship. Things take forever to truly change direction, upkeep of infrastructure is constantly ignored in the name of profit and there’s plenty of dead weight aboard the ship.
The only things I’ve noticed the two had in common were writing auto policies and internal hiring based on loyalty rather than credibility.
Ex esurance employee here. Excellent talent at that company was wasted at allstate by the " way we have always done it" crowd at allstate
This sounds like State Farm scenario
The fact that the CSL’s are taking on roles and refuse to learn or understand what we do. And if we have a problem, we have nobody to go to. But make sure you’re flawless!
Agree. Zero bench strength. View was esurance had good talent and that was inaccurate. Folks from off the street hired at G and above add minimal value.