Thread regarding Mutual of America Life layoffs

@1ge

Really, maybe not now because of a Presidential EO, but there was.

"Tara Favors is responsible for HR strategy, including talent acquisition, development, and retention; diversity, equity, and inclusion (DEI); organizational learning; compensation programs; all aspects of employee benefits; and the development of a hybrid employee work policy."

Tara Favors Work Experience & Education
Employment History

Chief HR Officer, Dei Advocate

"Mutual of America's culture of caring starts with our own employees," said Greed. "Tara's track record of effective leadership; expertise in talent acquisition and management; and commitment to building a diverse, inclusive and exceptional workforce

https://www.prnewswire.com/news-releases/mutual-of-america-financial-group-names-tara-favors-as-evp-and-chief-human-resources-officer-301406723.html

https://www.zoominfo.com/p/Tara-Favors/1603539327

Biggest Business Problem is Talent Acquisition and retention. Lots of under qualified people hired in past 3-4 yrs. Scraping bottom of barrel with talent pool. All the talent is driving for Uber, Lyft, and delivering for Door Dash. To quote Biden: Not a Joke ! Issue is that there might be 2 or 3 people applying for a job, and all three of them are not great fits. Instead of extending and reposting, the Firm settles for an underqualified candidate and look what happens: errors, non productive employees. Employees who lack basic skills and intelligence and IQ which causes more harm than good and more work for the people who are left. Detrimental hiring decisions and retention decisions are harming the company. It all falls on the lap of Talent Acquisition who has severely underperformed and that position should be eliminated save $250K per year. Gotta hold that individual accountable someway.

@19m
There are no DEI policies.

@OP Executive Field Leadership and Field RVPs who are still in their jobs because who who they know, nepotism, child friendships. Social Hierarchial relationships are more important to maintain and to protect their $300k per year incomes than real changes in sales growth or retention. Meanwhile, rank and file are still under paid, over worked, and under appreciated. I'm a 30 yr vet and things gonna change for us in the field. New leadership

@d5 Tenure is definitely considered if you are an external candidate. If you have the years of experience on the OUTSIDE HR will probably bring you in at above the mid range for certain in the new job architecture. However, if you have all the institutional knowledge and you are an employee at Mutual, many are still below the minimum pay bands for their position even with years of experience. The new job architecture really rewards outside candidates.

@OP Biggest Business Problem is IT. Digital Transformation has flopped. The focus is on the wrong priorities. FIS is a horrible partner. The firm doesn't want to spend the money to improve the digital experience, enhance the website, improve education outcomes.

@19mI didn’t realize Greed and Festog were DEI hires. Who knew ?

Outsource HR and gut all DEI policies they are among the cancers that have gutted a once great company. Most fortune 500 have thrown out DEI for top candidate no matter what race, religion or skin color should be hired quotas are racism.

@117

No COLA is not new at MOA. For decades, they had that policy in effect. At one point, they reviewed it every three years, and they may or may not have given a COLA. Then, they only gave a pay raise with added responsibility.

As far as the retirees, they get COLA because it is in the retirement policy/contract at the date when they retired. By law, they have to honor that.

It's interesting how the CHRO seemed non plussed and brushed off how COLA are not standard. The MoA pension still has a COLA ? The CHRO has received some pay bumps since she has been there since 2021. Plus, her incentive comp is much higher than most of the average rank and file. She has benefitted quite nicely from all the perks. Shoot even Willis Towers Watson say that over 50% of all companies still give COLA. HR is now putting blame on the managers for not doing more to pay people but it was HR which creates this job architecture colossal mess. Managers get a pot of money and they are going to naturally allocate more for themselves and their best friends who are RVPs. Typical corporate Ponzi Scheme.

@pv

But you remain there.

@d5

It should't. Only performance should be considered.

If someone has been there for many years and is upset about the salary structure, they should have left years ago. If they didn't, then they are accepting how the company operates and their policies.

Nobody said Nepotism? Really?

Incompetent, unethical leadership at just about every level of the organization.

@c3 You must be part of Senior Management because if a lower level employee called or emailed Stephen Rich directly and the EVP from the West or East found out, I can almost guarantee u the bullies would write them up and they would be on the fraternity double secret probation list

i was also disappointed that admitted loyalty/tenure is not valued or considered in salary

Gosh, who could possibly be trying to upset Client Relationship Managers at this moment in time? Could it be someone who is trying to take clients away from Mutual of America?

If an actual CRM (or any other employee for that matter) wants to discuss something with management, we all know we can talk to Stephen directly. He isn't a bully like some people who thankfully are no longer here. Good luck with the anger issues.

The fact that HR admitted that over 10% of all employees are not even at the lowest band level even after 2 yrs of the new job architecture is alarming. Todays meeting was cringeworthy and embarrassing. Disparities in Incentive Comp on all levels especially on lower paid levels was striking. CRMs getting hosed again with RPS and PARs getting all the gravy and the CRMs have to pull the train. No transparency on high priced Exec Comp, No shared sacrifice by VPs and above. Employees were rip sh-t pi---d coming out of that meeting today. The questions were pointed and dodged mostly. Especially about COLA. The response was, oh no companies do COLA anymore. LMFAO BS all the way. Company needs a new CHRO and Director of Compensation. That is our biggest business problem. Thanks for your question. Did I answer your question ?