Perhaps I'm wrong but my impression is that the new employees never stayed here for a shorter time. What a colossal waste of resources by the company!
What's the shortest time you know someone has stayed here?
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Clearly a defined benefit pension that is 100% employer funded is better than any 401k. However, the idea of lifelong employment is totally foreign and even distasteful for younger workers today. They expect to work for 5-10 different employers over their working years. So, in that mindset they prefer an attractive and portable 401k over the promise of a pension in 35 or 40 years and then they have to believe the company providing it will stay afloat another 30 years or more.
@1fhz Younger employees aren't too smart going for a 401K over a pension. Look at the "average" and the "median" 401K by age. You think that's enough to retire on? Only a fool who wants to go broke quick will buy that line!
Nice story bro. Hate to break it to you but owners and executives have always considered employees as expenses. I guess there are exceptions-those companies that did not last long.
Reminds me of a talk I heard when all the outsourcing and job cutting started happening. The presenter tells the audience he has CEOs, etc ask where all the good, long term people are these days?
He responded that you fired them all.
As long as companies look at employees simply as expenses, this is not going to get better.
In the U.S. employees stay on average 4 years with an employer, according to U.S. Bureau Labor Statistics. Today’s employee has zero expectation to stay with anyone long term. Younger employees strongly prefer a portable 401k over a,pension. You are showing your age.
Company keeps making moves to show people it's no longer a long term career option. Why would anyone be surprised when employees stop trying to make it one?
Rent and food for starters. We can’t all,live in our moms basement.
Why would a recent college grad (that was raised on video games and work perks) stay at a dead end job in a horrific abusive environment?
When a new hire sees the lazy old timers who do nothing but brag about how well they are paid and their pension while watching Matlock instead of processing claims it doesn’t take long for the new hires to bail. Eliminate the pension and fire those lazy leeches
Phoenix just raised starting pay to $29.31 hour for new claim professional positions.
1 minute and 7 seconds.
32 years.
The quality people see through the work and the politics. They are not geared for conflict resolution.
Injury CS here, 1 month after getting out of training. Injury is a tough place e for new people to be , I think we will need to raise our wages to keep people.