If my team is any indication, then the attrition has never been worse at AIG. I don't want to speak for the entire company, but I know we're losing more people than ever. The worst part is, the management seems to think it's okay not to replace them and instead to just dump their work on those of us who're still here. This is working out so well for them that they're not even trying to reverse course. This can't go on indefinitely, though, so I'm looking forward to a day when everything falls apart because people can't take it anymore.
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Folks, okay AIG incompetence to your advantage. Work your job search to maximize your benefit, especially in IT.
The job market can’t be much better than now. If you have skills then you can land another job if you do the work.
If you’re going to just be frustrated and no nothing to change your dynamic, then that’s your own fault, so wallow in your misery. Just don’t quit before you get what you have earned in STI.
I think PZ means to say we have made outstanding progress in propping up the stock price and ensuring that executive stock options will be lucrative.
As for the future of GI and attrition, yeah whatever. That's why we have Accenture.
Yeah, I'm confused how he thinks folks can't read the earnings. You grew North America Commercial 17% in the quarter and it's running at a 120% CR. It lost 500M dollars....
Goodluck with that bud.
better attrition than layoffs
It is so easy to keep attrition down. Just be kind to people.
Can someone explain how 3rd quarter results were outstanding as PZ claims? AIG has a combined ratio of 99.7%. So when you spin off L & R you are basically not making any money. Yes, AIG wrote more premium, but they cannot make money on it. And this has been a fairly CAT friendly year so far.
We are now 5 years into this leadership team that promised a combined ratio in the 80's if we gave them 3 years. No accountability, no trust, no leadership. Failures.
Don't worry though, AIG bought back over a billion shares of AIG stock to prop up the stock price for corporate golden parachutes! At least the executive team will be taken care of no matter what happens to the company.
Hence why the culture is so bad at AIG. I like my team and the folks I work with regularly for the most part, and tolerate those who I do not. But the contractors are drones who do what they’re asked, usually incorrectly, and then wait for someone to solve problems for them.
And the so called leadership is incompetent. I don’t trust them, and yes, notice how many system outages now are happening? Every day. It will only get worse.
We’re basically a subsidiary of Accenture now.
It is the same in my department. Aside from underwriting, the strategy is to pressure people to leave and only replace the higher pay grade positions. These are usually filled by friends from other companies. Rarely is anyone promoted internally to a high pay grade.
Because employees are overwhelmed it means we need consultants and third party administrators to pick up the slack. The objective is to create demand to outsource internal talent thus reducing head count and improving the bottom line for Wall Street. This has been going on for years. It is now reaching critical mass in many areas and customer service is declining rapidly.
You are correct it can't go on forever. At this point if you have been at AIG a long time just wait for a severance package because it is most likely coming soon. Good luck.