In 2017, Tom Wilson’s salary alone was listed as 17.1 million dollars. So, give me his job and a salary of $500,000. Right there, I just saved Allstate 16.6 million dollars. I’ll use that money to retain as much staff as that allows. As a bonus, I’ll fire Glenn Shapiro. I’ll take his 4.6 million dollar income, hire a replacement for $300,000, creating another 4.3 million that can be used to save even more employees. I’d go down the list, eliminating these laughably overplayed suits and make sure we are properly staffed to serve our customers. There is nothing - absolutely nothing - that these two could possibly do to justify these incomes. My first act would to rehire Wilson and Shapiro as assistant claims adjuster to show them what actual work feels like. Let these two geniuses sit in the phone with customers arguing the difference between a comp loss and a non-covered mechanical breakdown. They wouldn’t last a week.
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Capitalism only worked previously because America was a nation with a majority Christian population. If people are dishonorable it becomes an every man for himself greed driven sh!t show. The leaders don’t see the people they’re leading as their people so they have no loyalty to them, only to the dollar.
Politifact is removing post from this site
Toms salary has gone up every single year more than 20%. Allstate has gone down.
He’s paid 3 times what POTUS gets. Tell me who has more responsibility?
Save employees? Why? Many of them need the boot. How about you use that money to actually give us competitive products to sell, which will actually create more jobs in the long run?
Tom Wilson is CEO because he was handpicked by (former CEO) Ed Liddy. Tom would argue that his salary is only 1.5 million and he would be right. He makes 16.5 million in bonus/stock/options. Wilson does not care about customers or employees he only cares about the share price. He is way more Gordon Gecko than he is Bud Fox (Wallstreet).
He is not a stupid man but he is really adept at making terrible decisions...over paying for Esurance/Answer Financial, the four quadrant strategy to reach all customers, declared war with agents, Allstate dealership program, sales kiosks, letting Joe Richardson leave, the Joseph Lacher incident, hiring Glenn Shapiro....
Never listen to what he says but pay close attention like a laser on what he does.
The only thing that makes Tommy nervous is being voted out by shareholders...and most don't really care or don't understand.
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27 yrs in claims (quit 2017) and spouse is 15 year former agency owner...on reflection overall it was one big decline and after I cancelled my last policy with Allstate, I felt like the guy at the end of Shawshank.
Here's the deal. Scared to death of losing my job. 2 or so weeks to find out. Been here 10 years. Won distinguished performance award. However feel like good chance I am about to be booted. Having nightmares about working in a supermarket and driving a taxi like I was back in college. Don't care what Wilson makes. Praying all the time I dont lose my job.
Grow up
I am willing to bet that the genius arguing with the OP on this thread is one of the suits that he is referring to (director or above) or someone who is paid by the company to argue the point.
Geico and Progressive grow without the need to buy other underperforming companies for more than they are worth...
If you feel that those purchases are a sign of a well performing CEO, I don’t know what to tell you.
The board of directors has given TW free reign and has let his pay increase unchecked..........
As a stockholder, I do not like “my money used for this expense.”
I can’t believe I’m responding to someone who, apparently without irony, calls themselves “U r dumb” but I can’t sleep so what the heck? It’s not all about market share. The fact that you think it is indicates a fundamental misunderstanding of business. Instead of artificially increasing market share through ill-advised acquisitions of other carriers as opposed to any sort of innovation, I would focus on customer retention through providing service unhindered by short staffing, drastically-low morale, and outsourced labor. I guarantee that these soft market share numbers will decrease along with staffing; we are going to have more dissatisfied insureds who will be more than happy to go somewhere else. It does not take a genius to forecast what comes next. The miscalculated staffing will lead to a backlog of claims, which will earn us bad reviews, DOI complaints, and employees who do not care about the first two. Sales will suffer as well; the mass reductions will lead to both a brain drain to other carriers in our league as well as an overall drop in both new and retained policies. Instead of worrying about what percentage of the available insureds have an Allstate policy, we should be doubling down on eliminating poor risks and maintaining our current customer base. Once that’s stabilized (which it currently is not) then we should be worrying about getting more “market share.” If you honestly think that CEOs are worth what they’re paid, I can’t help you. I’ve met CEOs in the past. Color me unimpressed by their business acumen.
hearing a lot of complaining without any ideas for how else to handle things. My advice: talk less and think more. You’ll realize that these are problems without any easy answers. Newsflash: 17M or whatever it is for the CEO’s salary, is a rounding error compared to most items on the balance sheet. It is literally meaningless and indistinguishable from 0 when talking about the company’s results from year to year. Complaining about how much the leadership makes is pointless.
You can respond to market share loss just like Tom & Glenn do..... Buy more..... Allstate is losing market share & will continue to loss market share due to over paid CEO & top leaders.... You can fix this issue by starting at the top!
Yes lol. CEOs of Fortune 500 companies don’t get there by accident. Otherwise why aren’t you the CEO? If you have all the answers then why aren’t we listening to you talk to Wall Street every quarter? Is it because the world has been unfair to you? Go ahead, tell us your plan. How do we respond to quarter after quarter of shrinking market share? I’m listening.
There’s a reason he’s CEO? What would that be, precisely? Do you honestly think he got that title due to some outrageous talent or skill mere mortals like us don’t possess? Or perhaps he’s just a lucky empty suit that kissed the correct behinds just when those behinds needed some attention. He made nothing. He produces nothing. Of all the positions in the company, he is one of the most disposable, especially considering the investment of money he’s currently “earning.” A good CEO doesn’t need to make 17 million dollars. One who is going to turn his company into a collection of overworked and under-supported employees to be nor’easter is EOY bonus? Please. Remember - he’s not worth a total of 17 million; that’s what he earned in 2017 alone.
Not here to take a side on how Tom Wilson has performed as CEO but let’s be honest. There’s a reason he’s CEO and you’re not. Grow up and get a life. Stop complaining and start to take some ownership over your life and your choices. Jesus.
You have my vote OP. Both are over paid scum bags!!!
Who ever it is they're smarter than you @odh. I'm not one of the eat the rich type of people but let's face it, TW hasn't done a good job in terms of the longevity of Allstate. Forming ASPL to gut American jobs to boost his wallet was a bad deal
Who are you again?