Why is Feinberg imposing these pay restrictions on the P&C division? That’s not fair.
According to the article, the pay restrictions affect about 20 employees of the P&C division. Even if all 20 left, I don’t think I’d call it an “Exodus”.
Don’t kid yourself, companies have been using the economic downturn to cut loose lot of Wally’s – the good companies remain on the lookout for talent that will put dollars in their pocket.
AIG is probably following the same model as QBE, Traveler’s, Hartford, and other nationals. Use the economy as your excuse to cut payroll and to treat your people like dirt. And all the time, you’re making money hand over fist.
So why treat them like dirt? Because they have nowhere else to go.
But how forward is your thinking when these same peons decide to bolt at the first chance for other job opportunities? (and they will)
I’m glad that I left a national for a cozy little regional. At least we have a heart, and sincerely want to keep our best people rewarded and motivated.
I’m in Minnesota with one of those nationals that you name. The first offer I get, I’m out of here. Headhunters call! Please call! They’ve doubled my work and there is no raise in sight.
And yes we are making a ton of money, in fact we’ve jacked reserves by an extraordinary amount this year because we can’t possibly show that we’re making so much profit with all that we are doing to jerk our employees. What a funny little game they play and they think we can’t figure it out.
Oh and imagine that. Our bonuses are tied to profitability too! So I guess I’m going somewhere else to get paid what I am worth. Several just bolted from one of our offices in the west.
Of course they’re not going to see an exodus of employees seeking to leave….it’s the government’s money they;re spending!!!! scoundrels!
also, in all fairness, where are they going to go? It’s not like there are a ton of places hiring right now.
Why is Feinberg imposing these pay restrictions on the P&C division? That’s not fair.
According to the article, the pay restrictions affect about 20 employees of the P&C division. Even if all 20 left, I don’t think I’d call it an “Exodus”.
Don’t kid yourself, companies have been using the economic downturn to cut loose lot of Wally’s – the good companies remain on the lookout for talent that will put dollars in their pocket.
You’ve got it right. That’s why Hank has been snatching up some of the best AIG talent to grow his new company.
AIG is probably following the same model as QBE, Traveler’s, Hartford, and other nationals. Use the economy as your excuse to cut payroll and to treat your people like dirt. And all the time, you’re making money hand over fist.
So why treat them like dirt? Because they have nowhere else to go.
But how forward is your thinking when these same peons decide to bolt at the first chance for other job opportunities? (and they will)
I’m glad that I left a national for a cozy little regional. At least we have a heart, and sincerely want to keep our best people rewarded and motivated.
I’m in Minnesota with one of those nationals that you name. The first offer I get, I’m out of here. Headhunters call! Please call! They’ve doubled my work and there is no raise in sight.
And yes we are making a ton of money, in fact we’ve jacked reserves by an extraordinary amount this year because we can’t possibly show that we’re making so much profit with all that we are doing to jerk our employees. What a funny little game they play and they think we can’t figure it out.
Oh and imagine that. Our bonuses are tied to profitability too! So I guess I’m going somewhere else to get paid what I am worth. Several just bolted from one of our offices in the west.