More layoffs and restructurings? More cuts in benefits? Or, if we're lucky, better working conditions? With this management, I'm thinking we're in for a rough ride, but maybe they'll surprise me. Personally, I'm not planning to leave just yet, but if it gets much worse, I'll start considering it.
10 replies (most recent on top)
I know… I know… it is all for the people and communities we serve. They encourage us to volunteer but this is a whole new level.
9% increase in my healthcare cost.
Cuts in benefits. I'm sure we'll all see on during Open Enrollment....but expect...
- modest increase in premiums
- lowering of HSA "seed money" from $700/$1400 to $500/$1000
- new hip programs to help with health and tuition
So yeah, cuts.
The thing that is galling is that CF made money in 2020 due to underutilization of healthcare benefits with COVID. Then in 2021, the financial picture flipped with members seeking care. Overall between the two years, the financial picture balanced out, yet the corporate multiplier for the wonderful accomplishments we have achieved is 88.5% for 2021 incentive payouts. What does this mean? If you normally get 12% of your salary in bonus, multiply that 12% by 88.5% so you are only getting 10.6% this year. And even lower potentially since “on target” people are only able to get 90% to 100% of that. Nice to hit all your goals and only get 90% of your bonus payout. So at 90%, that 10.6% reduces to 9.6%. Yep, you can completely hit your target goals, but lose 2.4% of your incentive payout per this example through no fault of your own and due to flawed execution or bungling of the top execs.
What a laugh that the help desk has a backlog prompting a VP to issue a corporate wide statement Didn’t DK outsource this in the name of service and stability? Guess a few “off targets” will be tossed around here.
The reality is most employers are doing the opposite of CF to incentivize and retain top talent. CF just finds new and disingenuous means of destroying corporate morale.
If we are “difference makers”, let’s not mess with the AIP when the rank and file cannot influence the decisions the “people leaders” at the top are making.
So, wow, the "merit" increases this year is truly 2%. Wow. SS beneficiaries are seeing a 5.9% cost of living increase in 2022...because that is uh, the cost of living aka COLA. As in: your dollars don't go as far. This is bu-----t. And I hate that I have to be the "people leader" who needs to deliver this bu-----t message.
People will leave in droves after getting yet another “raise” that doesn’t even track inflation and now they’re monkeying with bonus with the rude rationale that Carefirst is a nonprofit…..The staff is not here out of the goodness of their hearts. It’s no secret that there are lots of better options out there right now. The company is having a hard time recruiting and it’s short sighted to short change current people to save a few dollars.
Many companies out there are paying better than CF right now. And lots offer a signing bonus for when you're hired. What's not to like? Like previous post said "take the money and run." Why wait for BDP to do next round of layoffs?
incentive payouts will definitely be lower, the CEO said as much on the last call setting expectations in the 80s. remember, this year it is based half and half on corporate and personal performance, gone are the divisional assessments, so we're at the mercy of dysfunctional units like IT and Finance and the botched entry into Govt Programs. since it's past Dec 31st, we've already earned it regardless, so take the money and run. the company is trying to save money on our backs to offset leadership"s costly failures.
What do you think 2022 will bring us?
Let me tell you what this year will bring us. A year ago at this time we were all anxiously awaiting word on our merit increases and incentive payouts. Then when they finally paid out in March we were quite surprised at how low they were.
Some folks might of thought no big deal, but if ELT decides to slash again this year it'll be 2 years in a row and a harder financial burden. That's because inflation rate and cost of living increase since last year have been significant!
So let's hope what "2022 will bring us" will be better than last year.
More layoffs, more re-orgs, more cuts to benefits? How about all of the above! Better working conditions??? Hah, seriously?!?! Do yourself a favor, dust off your resume and make a move. Lots of better jobs (and employers!) to be found as part of Great Resignation, you'll see.