Makes me laugh we were told today what the company is worth but yet we don't offer jobs to those that are on the chopping block keep good hard working ppl that have been with the company 20+ years take money away from those that have earned their raises. But yet cut expenses like ot, and let your workers be stressed just so the higher ups get their large bonuses while the rest of us get nothing what a slap in the face
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I've run some prelimnary numbers and let's just say '18 is shaping up nicely for me and the boys. Keep up the hard work!
MIP has a payout target of 15%
SMIP has a payout target of 25%
MIP pays out on profitability, EOP and policy growth calcs
SMIP pays out on the above plus a couple of others, including headcount targets
When I was on the farm, I had a proposal shot down by senior leadership because while it would have saved $$, it would have increased headcount above the annual target. I was told hold off a year and make sure that count was included in the planning for the following year
I was forced into early retirement.... best thing that ever happened to me. Almost everyone I know that is still there is miserable. They keep moving people in to positions that don’t make any sense and nobody knows what they are doing. I am guessing they are doing this to have an excuse to continue weeding people out later on. Productivity is at an all time low... Backstabbing and depression is at an all time high....
How many have been fired or forced into early retirement?
Looks like they are sand bagging$$$ for buyouts. They are coming especially for inactive agents and management heavy claims positions. Good luck to everyone.
1trm you are an id--t. The fact there are other jobs available elsewhere does not mean a person was not fired or laid off. Go buy a dictionary so you can look up important things like the definition of layoff.
Not sure about troll comment but the only real difference between SMIP and MIP is SMIP includes a MF category which require the recipients to be registered reps. Otherwise components align.
1fsg-what’s a troll? Is there a difference between mip and smip?
No layoffs? According to Money and Time State Farm sits at #4 with 4,200 layoffs/cutbacks. Its also posted on other reputable magazines and sites they intended to close 11 offices after losses last year.
1hmn is a troll.
Date received 6/29/18
LWIA 15; North Central 3
State Farm
1 State Farm Plaza
Bloomington, IL 61710
82 additional layoffs on 8/31/18 3 State Farm Plaza
Bloomington, IL 61791
298 additional layoffs on 8/31/18 Total layoffs – 380
no one is fired or laid off ... we all have choices and opportunities ... hundreds of great jobs and locations around the country
Not entirely accurate.....
Actually, executive bonus and management bonus are based on same criteria. And you are correct that expenses is a component. Other components include policy growth in each product line-auto, home, life, MF. AOP is a component as well as as employee satisfaction.
Exactly, what was it $99,000,000,000+ ? That’s a lot of zeroes. Executive bonuses are based off of cutting employees, I mean expenses. Shame the employees are now liabilities instead of assets.