The thing the last post didn’t say is that the new Fiserv implemented a philosophy that all in the same pay range pay the same for premiums AND those who earn more pay more so the majority of associates will pay less. Too bad more of our Ops and Call Centers associates about 10,000 in total don’t post cause they will receive lower premiums and would have something to say about the high paid, greedy complainer who couldn’t care a less about those of us who earn less! Good for the new Fiserv for implementing a pricing strategy that is fair and makes sense. By the way the complainer also didn’t tell you he is getting a cash award equal to 50% of his premium increase!!
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I am all for reducing the healthcare costs for the employees who are below salary threshold however that does not have to come at the expense of other employees. We continue to generate free cash flow and be profitable, the company is choosing to take benefits away to help employees rather than choosing to fund the health insurance costs from the profits it generates from the employees.
the new fiserv has instituted socialized medicine, plain and simple. Jeff always liked hair sniffing and kid groping biden anyway so i guess it makes sense. #justsaynotosocialism
Working for First Data s—s.
I should not be subsidizing the healthcare of others...we already do that with our taxes.
Fiserv has become an extremely embarrassing place to work. Basing health insurance costs on paycheck size? That is just plain absurd and makes absolutely no sense. Taking away the 401k match and then turning around to "help minority businesses"? Give me a break, what a phony crock that is, caring more about company image than your own employees. What a shameful company.
That’s very insightful and makes a ton of sense, thank you for that info
Since I've made several very accurate predictions on this board in the past I'll make another. Fiserv leadership realizes that in a very short time the minimum wage is going to be $15 per hour nationally. That means all those low paying call center jobs will be bumped up to 30K+ a year. It also means their team leads and managers will need to be bumped up as well, maybe not as much but 40k/50K seems within reason.
Today Fiserv is lowering their obligation for health insurance costs to offset these planned future increases in salary expense. So all those low wage people thinking this is fair today will be complaining tomorrow when their $15 per hour wage is eroded back to $10 due to their fair share health premiums. Fiserv wins because as your pay increases, their health care cost decreases.
So why is Fiserv giving a 50% bonus out this year? Easy, their obligation to pay it is lower this year as only the higher earnings will receive it.
Wait you can get a raise as high as 2%?
To the original poster @OP+17tKvVUc, I think we all started off with a low paying job, but we all have the opportunity to advance our career if we put in the work. I know I did, I slept for 6 hours a night for 4 years to earn my college degree with a family. I put in the work, and now you are saying that someone else should benefit from that hard work by taxing me more? Just because you don’t want to put in the effort?
You do realize that this creates a glass ceiling for everyone, and it is frankly a little short sighted.
Let’s look at the 50% payout for what it is, it is a cushioned candy coated feel good, to screw 30,000 hardworking employees out of more money. A one-time payment to help people adjust for the subsequent years of higher medical payments. This change is not in favor of employee’s, but in favor of Fiserv. This means that year-over-year when you get your nominal 1-2% raise you will pay more in medical to Fiserv, along with medical premium hikes and this means you will not keep up with annual inflation. Your annual buying power will erode year-over-year with this company (i.e. you make less), and bonus Fiserv makes more off you.
You honestly can’t be that naïve, right? Were you one of those people who got trophies for showing up? Instead of learning how to put in the work needed to earn a trophy. If you are in an entry level call center position, leverage it to spring board yourself to better heights. Put in the work and build a career!
The beatings will continue until morale improves.
You should all feel thankful that you get a one time discount payment to off set the permanent increase in costs. That will really blunt the increase in year two when you get next year's increase on top of this year's increase.
Sarcasm aside, there is one good thing about this. They pay everything out in January. That way you still get the full benefit when you get laid off in February.
Sorry but the concept of paying my 'fair share' is a bunch of total BS dreamt of by socialists. I PAID MY FAIR SHARE when I started working at a minimum wage job so I could pay my bills. I PAID MY FAIR SHARE as I worked my way thru college so I wouldn't be stuck in a call-center. I PAID MY FAIR SHARE when I got an in-demand degree in a field I only liked over a fruitless liberal arts degree in a field I maybe would have loved. I PAID MY FAIR SHARE as I worked my way up in the industry over the last 15 years.
So tell me, why should I subsidize the individual who barely graduated high school and is topping out their career in a call-center job that should be outsourced to India? Why should I subsidize someone who just graduated college and may be starting their career, which is where I was 15 years ago? My responsibility is to myself and my family, ensuring MY KIDS have everything they need to be successful in their life.
Got my letter. S—s!
Looking forward to that reorg, the one that drove tommy off
Thanks for clarifying that and that’s how it was explained to me. All negative posts here that don’t tell the full story. Even if I have to pay a bit more, I think it’s a fair approach and am thankful for that payout.
Let’s be real and stop the fear mongering.
Another First Data shill at the keyboard here. The OLD Fiserv was perfectly fine in some ways, THANK YOU but industry standard pay was a serious flaw. Let us just see how the new ReOrg works out.