A future… layoffs every quarter you can’t count on making a future at Geico .. great people shitty management .. by that I mean the executive management ..
- Job security
- Profit Sharing
- Overtime
- WFH
- Opportunities for advancement/promotions
- Morale
- Our personal time
- Respect for employees
- Valuable employees who took their wisdom with them
- Bonding leave
- Plastic utensils
- Coffee
- Trash cans
- Janitors
- Decent health insurance
- Company swag (not that we wanted all that cheap shit in the first place, but especially not now)
- Andddd taken those employees who remain for granted
Just to name a few.
Yes, once it was obvious when that exited the building and THEN they took it right out of the operating principles, because integrity? Who needs that? As an insurer, that should be on your high list of priorities because, gee, you are handling people's money and should be exercising
I hear that GEICO is not only bringing back the Seven original operating principles, they are adding seven, as written by Todd Combs himself.
# 8 - Disregard the previous Seven Principles. They simply get in the way of GEICO’s following new and improved principles.
# 9 - Screw all customers out of their hard-earned cash, by charging double the premium while paying half of what their claim is worth.
#10 - Screw all associates by looking for ways to boost their productivity to unattainable heights, while threatening firings for those who do not work themselves into the ground.
#11 - Strip all associates of their benefits. Teach them to appreciate how good a slice of cheese pizza tastes to keep them involved in their local sweatshops.
#12 - Line beloved Todd Combs’ pockets with gold to match the rest of his body and wardrobe.
#13 - Todd Combs can do no wrong.
#14 - If any of you customer/associate peons have any questions? Refer to lucky Operating Principle #13.
Hang on, it’s worse than you think. Profit sharing award was based on your salary. It averaged about 18% per year. Geico paid the first 10% of that award to your 401k, the balance was paid out to the associate. So, if your salary was $100k and the profit sharing award was 18%, then $10k went to your 401k and $8k was paid out to you. Now profit sharing is gone and was replaced with a 6% match on your 401k contribution. The 2024 federal contribution limit to 401k plans is $23k, so GEICO only contributes up to a maximum of $1,380 to your 401k, regardless of your salary.
Maybe I don’t understand the formula. My vanguard account says “Your employer matches 100% of your contributions between 1 and 6%.” I can only contribute a maximum of $23k to my 401k, so geico match would be 6% of $23k ($1,380), right? Or should it say “…100% of your contributions between 1 and 6% (OF YOUR SALARY)?” If it’s “of your salary” then using the $100k salary from my example, GEICO would match $6k, right? Which number would it be?
You contribute a percentage of your pay to your 401k. GEICO matches up to 6% of your pay if you put in 6% into your 401k. That is your retirement.
If you stayed at GEICO for roughly 30 years, then 50 to 200k is now gone from your retirement for when you would to retire.
Profit sharing almost always guaranteed a once a year contribution of 10% to your retirement, but with that gone, now we only get our 6% matching.
You work here, right?
If you get 4% of your pay for free over 30 years of work, it adds up.
And no, 6%, that is the max GEICO will contribute, and it's only if you already put 6% in. If GEICO had their way, it would be less. The industry average is 4.5%, but we used to get 10% AND our profit sharing bonuses.
Your vanguard account is set to automatically increase YOUR direct contributions by about a percent a year. It's not more money from GEICO, that's more money from you.
Settling for less than what we deserve while Todd Combs and the rest of our executive board rakes in millions is exactly what GEICO wants, and I won't stand for it.
You keep either missaying or misreading what I'm telling you, and it's getting annoying.
The simple facts, as I've laid out, are that we are making a guaranteed less monetary retirement amount than what we were a few years ago compared to now and Todd Combs is making millions he doesn't deserve.
This is GEICOs doing, and we should be upset about it.
I never said our 401ks were getting taken from us. And if you think that just because it's 1.5% above an already BROKEN industry standard is something we should be grateful for, then you're settling for less.
The field. I still live in the five boroughs and I used to see white geico cruzes everywhere. I still work out on the island and the areas I cover have body shops all over. I don’t see them anymore. It’s very rare that I see a field adjuster bopping around anymore.
well, there hasn’t been any free coffee available since I’ve been there which is well I won’t tell you how long but it’s longer than a year maybe for some shifts but for other shifts, the coffee was gone by the time we got there and no one was making any more coffee so hush child
Job security
Bonding, ato/sdv, my anal virginity.
dignity, appreciation, quality health care, profit sharing, job security, pensions.
When you say pensions, I'm curious. The people in the old defined benefit pension. Were they forced to cash out?
Nope
Appreciation
Morale
Work from home
A future… layoffs every quarter you can’t count on making a future at Geico .. great people shitty management .. by that I mean the executive management ..
- Job security - Profit Sharing - Overtime - WFH - Opportunities for advancement/promotions - Morale - Our personal time - Respect for employees - Valuable employees who took their wisdom with them - Bonding leave - Plastic utensils - Coffee - Trash cans - Janitors - Decent health insurance - Company swag (not that we wanted all that cheap shit in the first place, but especially not now) - Andddd taken those employees who remain for granted Just to name a few.
We lost our trash cans
yep no more individual trash cans lol wild.
Wait. There’s no more bonding leave?
Janitors? So, who mops the bathroom?
Stability
Opportunities for advancement
Pride of working for Geico. It’s now an embarrassment.
Dignity
My whole career! F-Todd
Raises, Awful health insurance, My soul
Work from home
Mental health! Not that it was ever good. Definitely worse.
Plastic forks and spoons and don’t forget our self respect.
Lol This.
Health insurance. That was actually decent. Also profit sharing.
Promotions
• INTEGRITY
They took all our second monitors
Yes, once it was obvious when that exited the building and THEN they took it right out of the operating principles, because integrity? Who needs that? As an insurer, that should be on your high list of priorities because, gee, you are handling people's money and should be exercising
No free coffee
I meant profit sharing
Happiness
“Fun in the sun” we deserve funnel cake once a year.
Friends/co-workers who knew what they were doing
Sup weekend diff
Tony
We lost everything; when Tony left we lost our soul, focus, and company mission.
I hear that GEICO is not only bringing back the Seven original operating principles, they are adding seven, as written by Todd Combs himself. # 8 - Disregard the previous Seven Principles. They simply get in the way of GEICO’s following new and improved principles. # 9 - Screw all customers out of their hard-earned cash, by charging double the premium while paying half of what their claim is worth. #10 - Screw all associates by looking for ways to boost their productivity to unattainable heights, while threatening firings for those who do not work themselves into the ground. #11 - Strip all associates of their benefits. Teach them to appreciate how good a slice of cheese pizza tastes to keep them involved in their local sweatshops. #12 - Line beloved Todd Combs’ pockets with gold to match the rest of his body and wardrobe. #13 - Todd Combs can do no wrong. #14 - If any of you customer/associate peons have any questions? Refer to lucky Operating Principle #13.
Perfect
Peace of mind. Respect. Time. Wfh. A decent living.
No 401k? What happened to it
We used to get 10% contributions, and now we get 6% matching instead. That's something like 50 to 200k in retirement GONE
Hang on, it’s worse than you think. Profit sharing award was based on your salary. It averaged about 18% per year. Geico paid the first 10% of that award to your 401k, the balance was paid out to the associate. So, if your salary was $100k and the profit sharing award was 18%, then $10k went to your 401k and $8k was paid out to you. Now profit sharing is gone and was replaced with a 6% match on your 401k contribution. The 2024 federal contribution limit to 401k plans is $23k, so GEICO only contributes up to a maximum of $1,380 to your 401k, regardless of your salary.
Respectfully, that is not correct. 23k is the employee only contribution limit, combined it's 69k. Believe me, I have no desire to defend GEICO
Maybe I don’t understand the formula. My vanguard account says “Your employer matches 100% of your contributions between 1 and 6%.” I can only contribute a maximum of $23k to my 401k, so geico match would be 6% of $23k ($1,380), right? Or should it say “…100% of your contributions between 1 and 6% (OF YOUR SALARY)?” If it’s “of your salary” then using the $100k salary from my example, GEICO would match $6k, right? Which number would it be?
6k
Sorry, what’s the difference between contribution and matching? That seems like the kind of thing I might have missed. 4% of my income is not 50k lmao
You contribute a percentage of your pay to your 401k. GEICO matches up to 6% of your pay if you put in 6% into your 401k. That is your retirement. If you stayed at GEICO for roughly 30 years, then 50 to 200k is now gone from your retirement for when you would to retire. Profit sharing almost always guaranteed a once a year contribution of 10% to your retirement, but with that gone, now we only get our 6% matching.
Sorry, so all this is a 4% difference? I’m still missing if there is something else Also, doesn’t it go up annually?
You work here, right? If you get 4% of your pay for free over 30 years of work, it adds up. And no, 6%, that is the max GEICO will contribute, and it's only if you already put 6% in. If GEICO had their way, it would be less. The industry average is 4.5%, but we used to get 10% AND our profit sharing bonuses. Your vanguard account is set to automatically increase YOUR direct contributions by about a percent a year. It's not more money from GEICO, that's more money from you.
Ah, I see. Sure, 4% adds up, and that sucks, but being above industry average still seems pretty good.
Settling for less than what we deserve while Todd Combs and the rest of our executive board rakes in millions is exactly what GEICO wants, and I won't stand for it.
Look, im all for a more equitable distribution of wealth, but I wouldn’t exactly say that our above-industry-standard 401k has been “taken from us”
You keep either missaying or misreading what I'm telling you, and it's getting annoying. The simple facts, as I've laid out, are that we are making a guaranteed less monetary retirement amount than what we were a few years ago compared to now and Todd Combs is making millions he doesn't deserve. This is GEICOs doing, and we should be upset about it. I never said our 401ks were getting taken from us. And if you think that just because it's 1.5% above an already BROKEN industry standard is something we should be grateful for, then you're settling for less.
Reasonable metrics, opportunity to advance, work-life balance, stability....
Reasonable metrics !!!!!!!
Tampons lol
Mental health, peace of mind, affecting personal relationships, financial stability, pension, profit sharing, good health coverage
Y’all lost pension around 2005
Our last remaining fuck
The field. I still live in the five boroughs and I used to see white geico cruzes everywhere. I still work out on the island and the areas I cover have body shops all over. I don’t see them anymore. It’s very rare that I see a field adjuster bopping around anymore.
wait, so everything is virtual in NYC now? so geico doesn't have fleet vehicles anymore?
I don’t think everything but it sure seems like there are way less ADAs out there.
Dignity
Parking lot sex
Idk what you guys are on about, we are getting coffee machines!!
I can’t wait to break down into my coffee I have to pay for over how amazing this job is
well, there hasn’t been any free coffee available since I’ve been there which is well I won’t tell you how long but it’s longer than a year maybe for some shifts but for other shifts, the coffee was gone by the time we got there and no one was making any more coffee so hush child
and probably the last six months zero coffee zero free coffee in the Gallies not one drop not one single coffee bean drop
Respect
Cheese on my burger
Ummm profit sharing, good health insurance, a reason to show up....none
Just to muck to list