Pros
Allow underwriters to make business decisions. - treat employees as adults - backing of FFH. This can be a game changer if strategically utilized, and unfortunately, C&F has yet taken advantage of this relationship with FFH and the brotherhood that comes with having multiple world class companies under the same ownership. - while healthcare coverage is below par, their 25 vacation days are industry leading from what I’ve experienced. - compared to the companies I’ve worked for, I feel C&F has an energy and vibe in some departments that not a lot of other carriers have. Capitalize on this, invest heavily in those areas, and blow away the competition.
Cons
Be more open to WFH. It’s almost 2019, not 1960, there is no reason why some employees can’t either WFH full time or split time between office and WFH. In some areas of this country, LA, SF, NY, the insurance industry doesn’t pay employees enough to live in these cities, therefore they have to live on the outskirts which means a longer commute. Longer commute means that employees arrive at work at less than 100% mental capacity, therefore a company can’t be as efficient. - enhance bonus pay. Make employees take ownership and take stock in the work they are doing. Give them a financial incentive to either write that piece of business of hold off on writing a risky account which could impact the bottom line and thus their bonus. A 10% or 15% bonus simply doesn’t incentivize people, especially after tax is taken into consideration, and when their annual salary raise barely takes into account the cost of living adjustment. - if you are going to require employees to come into the office, and not pay them enough to live in the cities where you operate, you need to help pay a portion of the employees mass transit expenses. Of the companies I’ve worked for, two have paid at least $130/month for transit/ commuter reimbursement, another paid $230/month (the first $130 tax free, and the last $100 a taxable benefit), one paid nothing, and then C&F doesn’t pay anything but used Discovery Benefits, which is pretty much garbage. - continued investment in areas of business which are cost prohibitive industries or draining resources. Identify cost drainers and re-allocate resources towards other business units which could really contribute to growth.