Thread regarding Mutual of America Life layoffs

You Get What You Pay For

insiders at TIAA have posted this recently on the TIAA board about their firms outsourcing of jobs to India with A>S>SCenture. The comments are a precusor of what's coming to Mutual of America is about 9 months time:

Commentor 1
TIAA can save 30% in labor costs by outsourcing to India. Problem is, Indians do 50 % of the work and it takes 50 % more time & then you have to build in the time zone difference so the net loss to TIAA is 15% loss in client count and aggregate annual labor costs increasing still at 5% w/no end in site. The cost and productivity savings looks great on paper; much much worse in the real world.

Commentor 2
Ask yourself - can my job be done in India, even if it’s a poor version of what I do? If you answered yes, then always assume they will look for a way to go cheaper even at the cost of quality. TIAA would rather save money than have respect for their product and employees.


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Post ID: @OP+1kxmbb2pr

12 replies (most recent on top)

@w4 all valid points but the decison has been made ! the 12+ year contract has been signed ! $200M over 12 yrs ! Locked in. Out clause around year 3+/-

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Post ID: @14n+1kxmbb2pr

@kd some believe we rushed the rollout to omni & skipped a lot of the end to end back end testing. now, this regime is only giving 9 months for KT & no real training & no real back test & regression test & then poof ! go live. the distributions errors, backlogs, money in issues are going to be a monstroshi.tty. think we used our own american born & bread employees on dat transition & now we use strangers from a foreign land, hindus, 14 hour time zone difference& no training in person. its Sadie bar the door & heaven please help U.S.

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Post ID: @w4+1kxmbb2pr

@OP who are the downvoters on this board ? I say Senior VPs & above.

what say you ?

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Post ID: @mx+1kxmbb2pr

@j4 same here. i'm retiring in the next few yrs. will walk away w/$1.6M + $1.2M in 401k + SS. i'm all set. it will take the indians 18 months to get used to all the nuances in omni. it will be slow & painstaking & lots of rework & mess to clean up for the sr. managers left behind. then the field offices & clients will be complaining to hi holy he.ll about this or that. just like moving to omni, client churn will start anew & to quote the late great 10 time World Series Champ Yogi Berra: "It's Deja Vu all over again."

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Post ID: @mw+1kxmbb2pr

@j4 I do feel bad for the regional office members who will have to deal with the consequences of Rich's idiocracy. They will lose so many clients and hear so much frustrating. Sad for them but the company deserves this downfall.

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Post ID: @kd+1kxmbb2pr

@c6 hurt mutual ? someone has got to be paul revere: the indians are coming ! the indians are coming ! Maybe, just maybe, the employees on here who will be losing their jobs soon, are sounding a warning shot. warning the c-suite & the board that transitions with the Thift Savings Plan & at TiAA, went disasterous. Read the TiAA board. Form your own opinions. You are lucking u still have a job and in 12 months, you'll be doing the Indians job b/c of high indian turnover, 50% slower pace. 50 % lower output.

Sit back. Relax. And enjoy the flight to Mumbai !

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Post ID: @jk+1kxmbb2pr

I am personally excited to sit back with some popcorn and watch the Indians burn it all to the ground. The end of MOA days is near.

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Post ID: @j4+1kxmbb2pr

@dq You are psychotic. My point is that once a decision has been made, we have to make the best of it. It may turn out good and it may turn out bad, but actively trying to cause a bad result that will impact all of us isn't the way to go - unless, of course, you are someone with an axe to grind with management who doesn't care about the rest of us still at Mutual. What a je-k.

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Post ID: @ht+1kxmbb2pr

@c6 Deal is done is right. Fate has been sealed. you are myopic. Deflecting blame. Your decisions are the reason why the company is today. You are the one who has harmed the company, clients, employees and the surplus. Which office in the C-Suite are you in ? this deal with harm MoA. You would be an excellent candidate for Alcoholics Anonymous and denial is not a river in Egypt.

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Post ID: @dq+1kxmbb2pr

The deal is done. It can't be undone. What is the point of taking shots at arrangement now? Your guesswork as to what will happen is meant solely to hurt Mutual. I wonder who would want to do that?

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Post ID: @c6+1kxmbb2pr

this outsourcing will increase, not decrease, customer satisfaction & retention efforts. It will make it much more difficult for internal people like the CRMs, PAS, RPS, & RVPs to get the right answer & it will take way, way, way more time. Turn around times will lag dramatically w/time zone changes. This move will increase client churn. It is a sad day for Mutual of America. The Board may as well remain the company: Mutual of India Life Insurance Company. This is nuts & crazy ! Where is the outrage !

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Post ID: @bz+1kxmbb2pr

spot on. lots of unanswered questions & leap of faith mental gymastics & rationalizations by the Exec Management. He better be working on his own resume right now when it hits the fan in 12 months+++

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Post ID: @a5+1kxmbb2pr

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