A huge number of employees who haven't left yet, actively seek other job prospects. Even those who have recently been hired are looking for other options.
Management should start asking itself what the problem is and why no one will stay here anymore. But there seems to be no strategy, no managing for employee retention at all? Where will this lead SF to?
@5irf-less than 15% of companies today have a pension of any form for any employee. Your Google research is not relevant to SF. Presently, 5 of the highest ranking executives are CPA’s. They can spot an impact on the bottom line from a mile away……
So maybe the cost of the employee only is cheaper with churn. But is the decline in service because a brand new inexperienced (and I hear poorly trained) person accounted for? Is customer satisfaction not a metric anymore? You can’t on the number one throne if customer service is and remains horrible, I don’t care what anyone says regardless of touting so many new policyholders.
@5ywj your anecdotal analysis of why churn is cheaper than retaining employees may make logical sense to you but in fact, is wrong. Please, use your resources. It's really not hard to google employee churn and read all about what it actually costs to lose an employee and the cost to then replace that employee. It's well documented and based on actual data from decades of research. And yes, it is absolutely factored into the expense calculation.....
@4vfw-why do you believe it is a negative on expenses? Employee churn equals less pension for those who are eligible. Equals less medical expense vs oldies, equals less social security contribution, equals less compensation . All of those would offset hiring and training. So no, not covered under expenses.
@4bmf it is on the score card, employee churn costs money so it falls under expenses.
Why do so many people think high employee retention is a goal or even a desirable outcome? When you see it on MIP then you will know it is a goal.
Step One: Teach them what the word "retention" means
Step two: make a metric for it, executives and managers are unable to function without a simple number a "up = bad / down = good" level of complexity.
If you had told me that their goal was as high as possible turnover, id believe that over "they are working to fix the high turnover", the company is that bad at retention. Like they dont even put a "being polite" level of effort towards it.
Correction to @4oma post. Meant to say WFH.
@twb Depending on how long you have worked for SF, in 2013/2014 it was apparent that people starting leaving in larger numbers than in prior years. You can also look the long list of retirement notices and see a significant number of people leaving. WFM has made it more difficult to see the bigger picture of what is happening, but the increase in workloads and management not effectively addressing the employees' concerns speak for itself.
Injury CS. See you are as d-mb as the rest.
You typically frequent and post on forums you dont believe and dislike? Which PR department do you work in?
Does anyone believe anything on this site? If yes would you be interested in a beach side condo in Bloomington?
@twb - Do you generally believe whatever your TM tells you? I THINK for most TMs, your building could be on fire and they'd likely tell you "management has become aware of a slight defect involving the heating system in the building"
I wonder if turnover really is all that high. Back in the day we were spread out in small offices all over the country. We only knew when somebody in our little office left. Now it’s all compressed , so it’s easier to see?
According to my TM in claims, turnover isn’t above other years historically. I don’t know if that is company wide or just claims. I know we are losing people every week, so idk.
Robert Yi the retired executive and a failure is the cause of this. Its been going on for 12 years plus……someone would reture or quit and wouldnt be replaced….now it has caught up the farm and its uncontrollable and will continue…after all they netted 17 billion in 2021 and grew millions of additional policies…the executive leadership is terrible and has no plan in sight…