WOW! Two more today! That is 5 Top VPs and 1 SVP in a month! I believe another post stated there was more to come and they were right! Have a good feeling we haven't seen the real sh-t show yet! I think the last 8-9 years has been building up to a big grand finale! Tipsy only has 2 1/2 years left before he retires (mandatory 65) and he has said many times he is just a bridge to the future. i.e...hatchet man! Buckle up and hope you have saved your pennies!!! Lube please!
35 replies (most recent on top)
A white male marketing VP at a North Carolina hospital was just awarded a $10million 'reverse discrimination' payout after he was replaced by two women - one of whom is black - as part of a diversity and inclusion program. Hmmm.
I saw the group that left. Anybody know why J B left? I saw his sponsor also retired.
Like a Good Neighbor… SF pays what they owe. Without a declared crisis it obviously wasn’t that bad. Earning this bonus calks for tough decisions afterall!
Way to go.
https://www.yahoo.com/entertainment/wh-senior-adviser-puts-state-062611429.htm
WH senior adviser puts State Farm on blast for refusing some Hurricane Ida coverage
@fkyg If more employees keep jumping ship or lose employment then there won't be a need for as many TMs either.
I can definitely see the SM and CM highly likely before TMs only since TMs management the workforce (so to speak). I might be wrong, but it’s likely going to go more top down since CM and SM in claims are higher salaries and do less in terms of day to day direct management of busy departments. Certainly TMs will be an area of cut backs, but I would be shocked if the TMs were first. I do think the time frame from 1-4 years is about right for the cuts. However as scary as this maybe, I also realize MANY people WILL still be employeed by State Farm and achieve retirement. So I stay positive.
I think everyone knows what's coming to be honest. Why do you think they really do not want to hire anyone? Using sooo many ECRs and vendors for almost every area? Continued consolidation in all areas, AI, BOTS, U/W will be done in the next 2-3 years. SMs and CMs are going to be cut! Streamed lined leadership structure. Especially those folks from 40-55! The big salaries are done and it is going to hit the TM level too. Unfortunately I see so many leaders trying to drink the Kool-Aid and appearing to be part of the "Team" but they are just fooling themselves thinking they can work their way off the cut list. Same "staffing committees".... SF is not interested in your skills, tenure, your fancy projects, 2 hour long huddles or that motivational article you send out. Read the tea leaves! Huge Exec turnover! Pension is done in the next 24 months, they aren't keeping that around, be serious folks!
Does anyone have any insight into the new claims model?
Honestly tech doesn’t move quickly in insurance companies because the systems are so old it’s not easy to transition to faster and more AI tech. Easier in an R&D demo than large implementation.
What I can see is outsourcing, in theory saving on employee cost, but likely not in customer satisfaction.
What I am curious if anyone has any info on is if State Farm is going to target middle management ages 40- 54 before many hit age 55 with pension/ health benefits? Especially those who make 85k to 130k.
Or is the algorithm more over 55?
Where is the transparendy on resignations. They say they are normal but everyday i hear about 5 new folks leaving. Plus the rumors of those leaving the cx side of IT. Clearly there is something where there is smoke?
it and ux are bleeding folks quitting
Will be fun to warch underwriting. No visible skills and no intellectual capacity to understand user needs. Should be a fun view of dissection.
Definitely agree with the last post! Buckle up! They are moving just about everyone/Execs around these days and I hope underwriting see's what's coming too. They have yet to get bent over like claims has over the last 8-9 years but I do think they are saving the best for last. As soon Tipsy thinks he has claims stabilized and have over-hired to anticipate the higher turnover they are going to start with the crazy stuff again. You shuffle everyone around and get a whole new group of kool-aid drinkers and arszzs kissers to buy into Der Furher-Tipsy propaganda machine and business model. Out with the old... in with the new....oldest story in the book! Its going to be funny when all this sh-t business they are writing blows up in their face too! Agents are robbing this company blind as they always have! This is worse then Big Dog trust me!
Very very very interesting choices for new exec roles. Buckle up.
Systems are high tiered difficult to replicate skills. Just get more bodies to handle the phones to press the buttons
Comparing Systems to claims in this scenario is short sighted and ill informed. Systems had redundancies and skill sets that didn't cary forward. Claims is short staffed, over worked and management heavy. Change is coming just not that type of change. Keep posting the same garbage though and making people who work hard and long to keep the promise worry.
The retirement of the VPs and other executives in Systems happened right before various areas in systems were downsized. Changes are coming in Claims and you can bet it isn’t going to be in the best interest of the employee.
They made changes to the severance package so the payout won’t be as great as in previous times.
Pay off bills and live within your means!
Bring back JB
They took a good company that was built on strong American values and ethics and made it into a machine that simply does not care for their customers nor employees. Once they cross that bridge, their trust and integrity is lost and it will take a long time if at all to get it back. The odds are now against them to return to a civilized, quality and human human based company. I understand the ups and downs of a business cycle and the need to adapt, but when a company loses its core values, I liked the executives walked and I walked with my chin high. The only thing I will always hold near and dear to my heart is the quality interactions I had with the customer. They now think they can make more money with less interaction and time limit metrics. They are fooling themselves because insurance and its employees are quality relationships not metrics.
Excited about new departments execs named. Once again - nailed it!!!
SF executives are pulling a page out of the playbook by the Italian cruise ship Costa Concordia captains. "Gotta go, good luck everybody else."
Natural disaster MT is the most dangerous of all time.
They leave so they don't have to admit failure.
Hurricane Ida - we gonna see if the proof is in the pudding. with all the advertising on the weather channel about our history of claims service, we will see how well we keep the promise, with all these reorgs and what not
Stay tuned. This will be a critical moment for MT PS and the rest of leadership.
Let's do some math! 20,000,000 considering a 40 hour work week equates to over 15,000.00 an hour and if you say they work 80 hours a week that's 7500.00 an hour. That's just bonus money! Now put in the base salary on top of that ---- How many workers do you have to make miserable for that kind of money? I couldn't sleep at night!
Sinking ship..thats why they are leaving
I agree, some common sense does have to come into play. It's not just "good" timing for them! Everyone needs to remember, Paul S. and the boys keep tip-toeing around the new claim operating model. On the last Exec briefing he somewhat touched on it but still didn't want to go there after he made the comments his own kid, that works at SF, made fun of him for saying the same thing each time it is brought up. The shizznitt is coming, do not fool yourself. They consolidated/changed the severance plan, new hires starting in 2021 do not get the pension, closing all the LOCs, are going to role out the new operating model.....and now we have the 6 tops claims Exec retiring. I do not like all the total speculation on here but you would have to be a complete mo--n to not see what is coming sooner then later. The pandemic just created a brief pause...if not I think we would all be knee deep....even worse then it is now. Make sure you are living below your means and have an exit strategy. SF is not a career, its just another sh-t ho-e in useless corporate America!
Ok, use some critical thinking. 5 VPs all from claims. None from underwriting or other areas, just claims. What department is in the worst shape, you guessed it, claims. I would agree with "normal" retirement if there were executives from other areas of the companies retiring on a daily basis as well.
People come and go. Don't overthink this.
Yes I agree but they are of different retirement ages and years of service. I think they probably got an incentive to leave. Obviously it seems pretty orchestrated and planned to say the least. They will bring in fresh new group of "go getteerzzsss"! I can't share where but recently saw something that showed "projected" diversity for upper leadership over the next decade at SF. Basically if you are a white male your days are extremely numbered. Going to be the target of buy-outs, re-assignments and same old tactics to run them off! More woke SF!!! YAY! Bigger they are the harder they fall......come on SF you can do it.
Digging deep. Not sure leaving at healthy retirement age is really jumping ship.
As inspector peroit once said…
Me thinks perhaps people leaving because more Corporate jobs moving to Richardson no? Perhaps Samsung hiring many people to work at Normal, But most jobs will be in the factory how many would be office jobs leasing from SF ?
The Bots are coming-don’t need a lot of supervision😊
Last time this happened is when all the Execs that designed the Future State Operating model from the old Legacy Model.... Susan Hood/Mike Wey and that bunch...they bailed ship too and retired...hard to watch the devastation you create and lives/co-workers that get destroyed! They did not want to stay around for that disaster we've been living the last decade. I do think they are cleaning house as they got ahead of themselves with the LOCS closing and not hiring during the pandemic. They bet wrong and I think they showed their hand a little too early. These Execs made a bad call for sure and it is catching up to them. Tipsy will never fall on the sword. The timeline will change but once they get folks hired and the bots rolling out more/vendors... the absolute disastrous sh-t ho-e with continue on. I think it is right.... we have not seen anything yet. Why do you think they are pushing to still get people back in the office come he-l or high-water!
Why are they bailing because obviously they don't care about the employees. Is it because they are retirement age? Or do you think the board could be forcing them out? Trying to decipher the tea leaves but it is difficult when it seems that everything is so reactionary.