Transamerica

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159 Employee Reviews (View Most Recent)

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2 people found this helpful  

Not Recommended

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - New Business - Customer Service Representative  in  Denver, CO
Current Employee - New Business - Customer Service Representative in Denver, CO

Pros

Decent benefits, nice office and co-workers are great people.

Cons

Few advancement opportunities with only a few tenured employees in the Denver office. High turnover. Processing time standards are unrealistic for newer employees and are based off the time it takes a tenured processor to complete the work, but even new employees are held to this standard. Employment is contingent on processing within the time standards, while also maintaining a high quality score. Basically they want you to process as fast as you can, but without making any mistakes. If you can't process fast enough, you'll be terminated and if you make too many errors while processing, you'll be terminated. This is why they have high turnover, because not many processors can achieve this balance between speed and quality. And don't try to circumvent the system, because that will get you fired as well.

Advice to ManagementAdvice

I would start by hiring trainers who have actually processed before, because it's impossible to hit the time standards for the various work types by following procedures, you have to learn the shortcuts. Also, tracking every second of someones day makes them feel like they're being treated like children. I feel like the position is more about tracking every second of your day, rather than processing annuity paperwork. We have to constantly track our time and we have meetings to talk about time. When we make a mistake because we're hurrying through our work, it takes time to correct it and if we had been given that additional time to begin with, the mistake may not have ever been made. There's a reason why there is a revolving door in the New Business department and it's not because you're hiring incompetent employees, it's because the system you have for the department is broken and sets people up for failure.

Doesn't Recommend
Negative Outlook
No opinion of CEO

Other reviews for Transamerica

  1. 2 people found this helpful  

    This job is only for true hustlers!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Sales Agent  in  Baltimore, MD
    Current Employee - Insurance Sales Agent in Baltimore, MD

    Pros

    Flexible Schedule/ Work-Life Balance
    Decent Products
    Benefits Package

    Cons

    Management still promotes "old school" sales techniques such as cold calling and door knocking.
    No real training, you have to figure it out as you go along.
    Pay structure is very convoluted.

    Advice to ManagementAdvice

    Focus on developing a comprehensive training program for new agents to complete before going out into the field. Teach, as opposed to tell, agent how to effectively prospect for new clients.
    Offer a true base salary so agents can still eat during slow periods, people in sales should not have to hustle so hard to make a living especially since the sales department is the backbone of the company!!!

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    New Business Representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - New Business Representative  in  Cedar Rapids, IA
    Current Employee - New Business Representative in Cedar Rapids, IA

    Pros

    Friendly people. Generous and helpful boss who's glad to help me make my way up in the company. Consistent hours with optional overtime

    Cons

    Monotonous work that never changes.

    Advice to ManagementAdvice

    Keep an eye out for talented people in roles that are below their abilities.

    Recommends
    Positive Outlook
    No opinion of CEO
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