Federated Insurance

  www.federatedinsurance.com
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1 person found this helpful  

Very poor place to work!

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Claims  in  Owatonna, MN
Former Employee - Claims in Owatonna, MN

Pros

Many very excellent employees - small town atmospere - great town to raise kids. Good (not great)benefit package overall.

Cons

Culture is toxic - leadership is by fear and intimidation rather than by inspiration. There is no opportunity to rise to the senior management level for Underwriters, Claims Adjusters, HR, IT, Loss Control etc... as all major functions are headed by a Marketer or former Marketer. Employee's are viewed as a liability vs. an asset even though lip service is give to the latter concept. No true innovation is possible as senior managemt will broker no opinions or views different than their own - their attitude is "my way or the highway" (and they mean it!). Very poor communication from the top - no accountability to the owners of this "Mutual Company" who are the policyholders.

While starting pay is on par with the competition, salary increases are difficult to obtain and measly at best. Bonus' are very small for this wealthy of a company except to a very few (senior management and a select few favorites). Lot's of cronyism and favortism - very much the typical "good old white boys club". In this organization, raises and promotions rely much more on "playing the game" and who you know than how hard you work or how good you are at your job. Performance evaluations are completed on the Jack Welch model (get rid of 10-20% each year) which is fine in a production setting where productivity is easily objectively measured, but does not work well in a company where most of the measurement is subjective (major catagories of the yearly performance review are "Passion" and "Energy" - how can you even begin to objectively measure that!). Managers of even the smallest units are forced to designate someone as "needs improvement" (a professional death sentence) without regard to whether that person exists or not.

Advice to ManagementAdvice

Internal company Board of Directors members should be replaced with external independent & objective members who will truly hold senior managment accountable and improve communications with the policyholders who "own" a mutual company as well as the employees. Add senior managment members from outside the organization to reduce cronyism and favortism and allow true innovation to ocur without fear of repercussion. Treat employee's as the "asset" they are instead of simply paying lip service to this concept.

Doesn't Recommend
Negative Outlook
No opinion of CEO

Other reviews for Federated Insurance

  1.  

    Great commissions but terrible management. Idiots

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Marketing Representative  in  Birmingham, AL
    Former Employee - Marketing Representative in Birmingham, AL

    Pros

    Commissions were great but too much emphasis is put on life insurance

    Cons

    Too many management levels. Pushing paper and doing reports does not make anyone happy or make anyone money. Some programs will not work so stop trying

    Advice to ManagementAdvice

    Hire management from outside the company. Don't just fill spot with a warm body. Managers are idiots

    Recommends
    No opinion of CEO
  2.  

    Great Employer!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Underwriting Support Specialist  in  Phoenix, AZ
    Former Employee - Underwriting Support Specialist in Phoenix, AZ

    Pros

    They hire with the desire that you will become part of the "family" and everyone is treated with respect. If you are looking for a company where you can make friends and no become another cog in the works...this is the place for you.

    Cons

    The company is still very small...so if you are young and looking for a wide variety of opportunities and locations to move and work in than this probably is not the best place for you. They also take allot of breaks for ice cream socials, apple pie day, etc. so if you are not in to being very social, stay away because you will not fit in (this can also be a pro if you are a social person).

    Advice to ManagementAdvice

    None, there company model is terrific. This is probably the absolute perfect company if not that it is too small for me and I decided not to work in the insurance industry...not my cup of tea.

    Recommends
    Approves of CEO
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