People keep talking about compensation in the town hall thread. So please what was said about compensation? Because they way people were talking it sounded bad.
12 replies (most recent on top)
Why are people mentioning lower 401K matching? I haven't heard of them planning to change the 401K match.
@ck but we get pins that we'll never wear.
@cj lower pay, and benefits, and 401k matching is just a soft layoff.
They trying to get you to leave voluntarily so they dont pay severance
This may explain why this company will never adjust salaries.
https://www.healthcarefinancenews.com/news/aetna-exiting-aca-markets-cvs-health-logs-18b-profit
@cr Heidi is wrong. Aetna is overstaffed in some areas which creates more jobs but less pay. Instead of paying people the market, they pay them first percentile. Did she explain internal equity. Likely not. There is a dept there that someone created about 90 unnecessary jobs for and they pay below market rate by about 25K per employee
CVS and Aetna pay below industry standards. They also have Sr. Managers, LDs, EDs in no way qualified for that role elsewhere. If you look pretty in your aisle 1 CVS brand lipstick, you are a CVS or Aetna Executive Director overnight. What comes out of your mouth is a script written by AI on your Teams screen.
You are either at a top level Director and above which is great! Send your kids to private college buy that big house!
Or below that which means your part of the shrinking middle class and can limp by on 2.5%
It was offensive before she even started speaking. The moderator said, "This is a question for you, Heidi", and she said, "Let me guess, compensation?". She obviously already knows people are unhappy and that the question would come up, and then her condescending response was simply that you have to look at the whole package you're getting (Benefits, MIP, etc.). Then she stated that our compensation is in-line with that of our competitors. That was it. Basically take it or leave it.
Also, noticed at town hall, who was able to afford and wear the pricey merch from the Heart Collection that they keep pushing us to buy from! Send us some socks for chrissake!
They talked about the overall package of compensation employees should consider. It was very much a "let them eat cake" moment. Coming from the Aetna side, the "overall compensation" continues to decline. I'm wondering what they can cut next. My medical deductible is $2,100 before they even contribute. Right off the bat, they cut 0,5% off the 401 contribution. We no longer have any type of healthy rewards. In their eyes, we should be so appreciative. No matter how they spin it, employees will never be on the winning end.
They talked around the question by saying some nonsense about tracking what CVS pays vs. industry averages aka go fu-k yourself, you'll get 2.3% and be happy.
I don’t remember the exact words, but the gist was they continually monitor the market to stay competitive, and that we should think of our “total rewards” instead of just the base pay. It came across an out-of-touch, disingenuous, non-response coming from people making more per year than the people asking may make in a lifetime.