Happy 2020! Lots of new reductions in benefits for associates have been quietly rolled out (as in, unless you are paying attention to your emails, you may have missed them).
First, unless you get "above target"/3.5 or above), you're going to receive less of your bonus. Yes, you can meet all your goals but unless you do more than that, you are looking at a 10% or more reduction in your bonus payout in 2021. You are effectively taking a pay cut.
Second, retirement benefits are being cut. Obviously, the intent is to get the highly tenured to take packages and leave. But, wow, the brain drain that our area is going to experience is going to be massive. We've got 35+ years folks in our area who know way too much about our systems, how they function and how they don't, to just watch them walk out the door with all that information. Yes, that much knowledge should not be in the heads of so few, and succession planning should be there (it's not) but this was obviously not considered when this new policy was put in place. And, we have a bunch of upset older folks who are feeling very slighted.
PTO rollover is being capped...
It is Brian's company now so in turn, his to run the way he wants. But, these are draconian, "screw you" messages to the rank and file. I keep wondering who is advising and counseling him on these ideas and telling him to implement them. If CareFirst were a commercial operation and publicly traded with shareholders and dividends, I could see it. But it's a not for profit that is supposed to also serve the community - its actual employees live in this community for which it is to be serving. But, they are getting nickled and dimed instead.
It also stings when you hear that CareFirst had one of its most successful years ever. Successful year? Let's punish the employees by rolling back their benefits!
I'm not in Baltimore, and DC is not a depressed market. What will happen with this is that the high performers will leave and go somewhere that they don't get their benefits chipped away. CareFirst has a mission, but I'm not volunteering here, and if I wanted to be one, I'd volunteer at a soup kitchen. I spend the 40+ at my job to make money, pay my pills, my mortgage and send a kid to college.
These new policies are insulting. You can drag everyone into ballrooms for a day and talk about diversity and inclusion but if you treat people badly, they will walk out the door.
Thoughts?