Does anyone have any opinions? I mean will certain positions be affected more than others, certain locations etc...
5 replies (most recent on top)
Looks like it’ll be The bank mortgage area. https://www.prnewswire.com/news-releases/state-farm-announces-alliance-bringing-rocket-mortgages-award-winning-mortgage-process-to-its-customers-300886709.html
I don't think they will wipe out all field estimatics but I do feel like they will reduce again sooner rather than later...
Victims....try entire buildings. Frederick MD to name one. All done August 31, 2019. Hell of a lot of good people. Next comes the folks of estimatics...(next year field staff done) and ready for this...say good bye to pensions...can you say frozen above 55 and cash buyouts for everyone else.
ET planned for 2020.
Wild guess, but I think they may hit the RA4s harder across the board than they have. When they merged the MA5 and MA6 positions in the early 2000's (crazy HR cutting down the number of positions, but that's another story) they cost themselves a lot of salary longterm. There were quite a few good MA5 analyst around, but it was pretty rare from what I saw to get an MA6 as an analyst. It happened, but was rare.
When they combined the two into one job class it had the effect of paying many long-term analyst much more money than they could have ever made before. For a few years some areas rarely if ever promoted anyone to an RA4 because of the high longterm salary. Overtime though it became as common or more common than the MA5 position use to be.
Not saying it's right or wrong, (how they go about it will likely be very wrong) but I suspect they would like to make the RA4 level much more rare than it currently is.
I think the older system with more levels had some positives for both employees and the company. More promotions (people, especially young people like getting promoted), easier to for management to separate and reward higher performers (assuming they know who they are), and for the company lower overall cost due to the top analyst range being used on a much more limited basis.