So during huddle today in injury, my TM stated SF will be revising the ranges and pay next year. Does anyone know if this is claims specific or SF in general ?
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What pay range increase? Unless one is not already making the minimum side of the new pay range apparently the merit increase is not even going to reflect the new adjustment. When asked about it in huddle the mgr balked, said would discuss on a private basis. Get with the conditioning program here people! Set your expectations low and expect NOTHING at this place, we'll all be happier. Get a side job holding a sign at the street corners for spare change, it's the only way to keep up.
I’m not very impressed on the injury claims side, it looks like those in the hubs will see a 10%-25% adjustment, good for them .
Some of the changes to the ranges are pretty significant...
Some barely moved...you will be able to see for yourself soon.
No one posting on this site has any “inside knowledge” of the future of the pension program. There is literally 4 people with that kind of knowledge and they all work on 12 and share it with no one. Anything on this site is simple personal speculation for their own enjoyment.
Again you are proving your ignorance please find a topic you have at least a child’s knowledge about. Active employees are not being paid a pension. Even with future higher salaries the number of current and future employees is nearly half of what it used to be. I can tell from your childlike explanation that you have no idea how pension funding actually works. And again to demonstrate your TOTAL ignorance on this subject-SF is paying zero for 401K administration . Ignorant troll.
Actually the previous post was correct regarding the pension and you are completely wrong and the ignorant mo--n with no clue of what you are talking about. As inflation goes up so does people pay (which you stated) hence the fact that State Farm is increasing pay for many people/different job classes. The pension is based on the 5 highest years of earnings...since the max is being raised in a lot of jobs still eligible for the pension, State Farm's obligation to fund the pension also goes up proportionality. Also the cost to administer two plans is higher since the pension is limited in what asset classes it can invest in. State Farm is also paying to have the 401k plan managed and they are not the same two entities. The pension obligation is not declining as only 41k of the plans roughly 120k eligible recipients are receiving it....it's why SF has been trying for the last 10 years to get rid of so many tenured employees...to cut future obligations which also include healthcare cost their Mr. Einstein... which are still going through the roof. If your post was even remotely correct then almost every company in existence would still have pension plans and not a matching 401k. Why do you think we stoped the pension for new hires d-mb-ss!. It's too costly!!! Stop trolling and get a life!
Wow was the pension post stupid. First of all the pension obligation is actually declining-no new entrants and the mortality of pensioners is taking its normal course. There is no additional cost to administering two different plans-same people doing the same work. If you want to really know the post is fake is the comment about inflation increasing cost-anyone with a minimum of pension knowledge knows it is interest rates that have the largest impact on pension obligations. The previous post was written by someone with NO knowledges of,pensions in general or State Farm’s in particular. It it is childlike in simplicity and errors.
Wow a ton of sheeple on this site unable to process their own thoughts-no wonder they are unhappy-someone told them to be hahah.
meanwhile....will MT get his $18,000,000 bonus on top of his 30%+ base pay increase over the past three years??
@ifvis a troll and a shameless one at that. I work in HR administration and there is not one shred of truth to the previous post. It is disturbing that he/she just wants to inflict unnecessary stress on other people.
Remember he who giveth taketh away......first quarter next year you will get the notification that pensions are being frozen and everyone will be moving to the new 401k match that started Jan 01, 2021. I know it has been a "rumor" for awhile but they have been setting that up and just needed to wait until the right time to implement. What is unknown is if they will try to buy out pensions or just freeze. It will be interesting to see. They were going to do it this year but with all the staffing issues they know a ton of people will bail that are only here for the golden hand cuffs. Once that is gone then all the tenured employees will bolt pretty quickly! Two separate retirement plans are expensive to administer plus with so many retirements happening they need to stop the bleeding. It is overfunded now but that won't last long especially if inflation continues....plus the Execs are still convinced it is the last of the old legacy State Farm employees/leaders that are sabotaging their " wonderfully " designed business model and dream work environment they envisioned!
Merit was 2.5% average last year. It will be 3.5% for 2022. There are improvements, and it’s not a “military” class system, it actually makes it easier to move across the organization and follows what most other companies are doing. It will be based on job level and compensation grade. You can basically keep the same job level but have additional promotion opportunities by moving up comp grades. SF has made a lot A LOT of positive benefits changes the last 2 years. Some levels will see significant increases in salary bands, especially if you work in technology where there is a war for talent. Sorry Claims sucks, sounds like a miserable environment. Underwriting where I work is almost as bad.
Just wait. Gamechanger!
Unless you’re maxed out it won’t affect you.
yeah last time a "pay adjustment happened" very few even got it
its weird that minimum wage is getting dangerously close to the starting wage for some areas of SF.
i am curios to see what they do this time around as the pay has not kept up with cost of living since for ever
lets us not forget State farm has made record profits the past 2 years and yet refuse to to even adjust for inflation let alone actual decent pay raise.
CPI rose 5.4% last month alone. Your raise isn't going to be worth a cup of coffee and a do-nut!
My manager in et shared the same today. Doesnt sound like our leaders are very postive about it.
SF pu----s-to afraid to leave but cry help me everyday.
cost of labor is said to be the same in lanta as bloomington. LOL!!! id--ts in hr.
This is not what I was hoping to see. I wanted to be surprised with larger raises, something positive . Claims always lets me down….
The economy is collapsing. I’ve seen a lot of news press about people quitting over vaccinations etc. hardly anything about wages, and stress.
The town I grew up in if you drove by and blinked you’d miss it, is now bringing in fresh graduates medical students from Chicago to cover shifts. Most of the people that made money even through 08-09 are paying off their debts and taking lesser jobs. Some of the nurses are getting offered time and a half to even come assist in straight up pay. My mom used to brag about a having a degree in med, and her job is now applying for wfh call centers and refuses to even come back for that pay.
I think we are just hitting the top of the spear here at the farm, for people to leave to wfh full time and a lack of help virtually everywhere as more and more people contract and free lance.
Hey crybabies you need to do what 4.2 million other people did in August and quit your jobs. Vote will your feet. Use your brain and leave. Quit thinking the company is going to change for you.
Oh wait, the high school homecoming committee just let us all know about the employee experience kickoff. This is their way of enhancing our employee experience. Really? They are going to make it so much more fun with: Rewards & Recognition, Employee referral program?, and don't forget leveraging the employee engagement that is still so robust. Very few claim employees trust a word that comes out of the VPs on down. What a pitiful joke. What is abundantly obvious and ignored, is the need to hire the right people who can and will work in this pressure cooker you call claims. I am jumping off this merry-go-round.
Basically useless information, they are bumping up some starting wages and increasing the caps for some job levels. Topped out jobs can get the whole merit basically as an additional bonus. Still huge problems with no recognizing job expectations are drastically different between functions and job classes/responsibilities that are making the same money. Typical d-mbarsszzz SF. If you live in the hubs you will not make enough to even afford a basic home or good apartment unless you have a good 2nd source of income. It is not even keeping up with the 6+% inflation so everyone is going backwards anyways. There are now 14 categories and we will be paid/classified like military employees... pay/classifications will match the military like working conditions. Now follow orders and get back to work!
Should we get started to get excited for a $0.50 increase? Can’t t wait!! That will make such a big difference in my life.