Farmers Insurance's Human Resources: An Overview

Farmers Insurance Group is one of the largest insurers of vehicles, homes, and small businesses in the United States. They offer a wide range of insurance and financial services products. The company has been in business since 1928 and is committed to delivering peace of mind and innovation to its customers. Farmers Insurance provides a full suite of benefits to its employees, including health, wellness, work-life balance, and financial benefits. They also offer career growth opportunities and resources to help employees build their careers. The company is dedicated to fostering an inclusive culture and giving back to the communities they serve. With a range of remote and hybrid roles, Farmers Insurance is always on the lookout for talented individuals to join their dynamic team.

Farmers Insurance employee benefits

Farmers Insurance offers a range of benefits to its employees, including:

Compensation

Employees receive a salary, incentive pay, an annual merit review, and a spot bonus program.

Retirement benefits

The company offers a competitive 401(k) Savings Plan. A few weeks after starting, employees will receive a letter with information about enrolling in the Farmers Group, Inc. 401(k) Savings Plan. The organization matches contributions dollar for dollar, up to 6% of employees' eligible pay, and the Farmers match is vested immediately. Additionally, Farmers makes an automatic 4% base contribution to the 401(k) Savings Plan based on eligible pay, with a three-year vesting period.

Health benefits

Farmers provides medical and prescription drug benefits, dental benefits, vision benefits, and opportunities to save money for medical expenses in tax-advantaged Health Savings Accounts or Flexible Spending Accounts. They also offer life and accident insurance, short- and long-term disability, and wellness programs.

Work/Life benefits

Work/Life benefits include programs such as paid time off, career development, tuition assistance, adoption assistance, legal services, the Employee Assistance Program, and more. Farmers promotes a healthy work/life balance, allowing employees time to relax and recharge, with a new flexible future of work plan that includes many hybrid and remote work opportunities.

Other benefits

Other benefits include a work-from-home policy, maternity/paternity leave, employee discounts, employee resource groups, a commuter benefit plan, LinkedIn Learning Access, leadership development and mentoring, multiple career pathways, and recognition programs with rewards.

Farmers Insurance employee resources

Farmers Insurance offers a wide range of employee resources, including business tools, benefits, and opportunities for career development.

Business Tools

Farmers Insurance provides its employees with various business tools to help them perform their jobs effectively. "Farmers Today", the company's intranet site, serves as a central portal for accessing important company news, information, tools, and resources. Employees are encouraged to make it a daily habit to check "Farmers Today" for updates. In addition, the company utilizes "Workplace by Facebook", a communication and collaboration tool that facilitates efficient teamwork across different teams and departments.

Benefits

The company offers a comprehensive benefits package that supports the health and well-being of its employees. This includes medical, dental, vision, and prescription drug benefits, as well as Health Savings Accounts and Flexible Spending Accounts. Farmers Insurance also prioritizes work-life balance, offering eligible employees between 19 and 34 days of paid time off each year, in addition to observing an average of 9.5 paid holidays annually.

The company also provides various wellness programs, such as virtual fitness classes, wellness challenges, and the Headspace meditation program. Employees can also take advantage of Teladoc, which offers 24/7 access to board-certified physicians and licensed mental health therapists.

Career Development

Farmers Insurance is committed to helping its employees build their careers. They offer a variety of resources, support, and internal career growth opportunities. Employees can access educational courses through the University of Farmers, take advantage of the Tuition Assistance Program, and explore enterprise mentorship opportunities and free LinkedIn Learning subscriptions.

Diversity and Inclusion

The company strongly emphasizes fostering a diverse and inclusive culture. Employee Resource Groups (ERGs) play a crucial role in achieving this goal, acting as voluntary, employee-led groups dedicated to creating a more inclusive work environment. These groups provide opportunities for leadership skill development and contribute to the organization's innovation and commitment to diversity.

Community Engagement

Farmers Insurance encourages its employees to give back to their communities. Through "Farmers Gives Back by Benevity", employees are encouraged to volunteer for company-sponsored community events focusing on education, disaster resilience, and civic engagement. Employees can track their volunteer hours and earn incentives to donate to eligible charities of their choice.

Overall, Farmers Insurance provides a comprehensive array of employee resources that support both professional development and personal well-being, reflecting their commitment to creating a positive and inclusive work environment.

Farmers Insurance employee incentive opportunities

Farmers Insurance offers a range of employee incentive opportunities as part of its Total Rewards package. This package is comprised of four elements: Compensation, Retirement benefits, Health benefits, and Work/Life benefits.

Compensation

The compensation element includes salary, incentive pay, annual merit review, and a spot bonus program. Employees are also eligible to participate in a variable incentive compensation plan, which is linked to individual and company performance. This plan is designed to motivate and reward employees for their contributions to the company's success.

Retirement Benefits

Retirement benefits include a competitive 401(k) Savings Plan. Farmers matches eligible employees' contributions dollar for dollar, up to 6% of eligible pay. Additionally, the company makes an automatic 4% base contribution, which has a three-year vesting period. This means that by contributing 6%, employees effectively save 16% of their salary for retirement.

Health Benefits

Health benefits offered by Farmers Insurance include medical, prescription drug, dental, and vision benefits. The company also offers Health Savings Accounts and Flexible Spending Accounts, allowing employees to save money for medical expenses in tax-advantaged accounts.

Work/Life Benefits

Work/Life benefits include paid time off, career development resources, tuition assistance, adoption assistance, legal services, and an Employee Assistance Program. Employees receive 19 to 34 days of paid time off each year, based on their tenure with the company. Farmers also observes an average of 9.5 paid holidays per year.

The company also encourages employees to volunteer and engage in meaningful service through its Farmers Gives Back by Benevity program. Volunteer hours can be tracked and converted into rewards that can be donated to eligible charities of the employee's choice.

Farmers Insurance employee reviews

Farmers Insurance Group is one of the country's largest insurers of vehicles, homes, and small businesses. They have been in business since 1928 and have a wide range of insurance and financial services products. The company has received several accolades, including being named one of the 100 Best Companies to Work For by Fortune Magazine in 2022 and 2023.

Work Culture and Benefits

Farmers Insurance offers a full suite of health, wellness, work-life balance, and financial benefits. They provide competitive salaries, incentive pay, annual merit reviews, and a spot bonus program. The company also offers a 401(k) Savings Plan with employer matching, and medical, dental, vision, and health savings benefits. Employees can also take advantage of paid time off, career development opportunities, tuition assistance, adoption assistance, and an Employee Assistance Program.

Employee Reviews

Reviews from current and former employees on Indeed.com and Glassdoor.com provide insight into what it's like to work at Farmers Insurance. Overall, the company has a positive rating, with employees highlighting the good work-life balance, benefits package, and supportive work culture. However, some reviews mention issues with management, lack of career advancement opportunities, and a negative impact on work-life balance due to heavy workload.

• "A really great company to work for. They have a great benefits package and they take professional development seriously. I felt supported in my role to make decisions within my authority and comfortable to ask for help when needed."
• "Good place to be. Bookkeeping is the bees knees. Great people to work with and for. Stellar boss. Great food."
• "Working here can be really stressful, especially if you are in more of an assistant role under an agent. Basically, all of their work load gets thrown on you, and you are expected to answer every incoming call while also working on multiple alerts."
• "I enjoyed working with the team. A lot of fun, but worked hard when it was time. They truly seemed to care about doing what was best for people, not just making money."
• "Not the best job and no regard for employees. The company has little to no concern for employees and you are completely disposable at any time. The management is always in contradiction to each other regarding assignments and fault always lies with the employee."
• "Farmers is a good employer for someone who is striving for a comfortable career. The opportunities for advancement are strictly limited, specifically in certain business units. The staff is tenured and hard to get career progression, and the company is constantly making changes in their people strategy."
• "Benefits and pay are great. Work-life balance is wonderful. The culture is not great. Long-time employees who talk a good game about inclusion and change but don't want anything to change."
• "I have been with the company for almost 10 years, and I cannot understand how I am still at the pay grade I am currently in. I have a B.S. in Applied Mathematics, continuously work towards self-improvement within the workplace, always perform at a high level, and have interviewed for several promotions."
• "Hiring process was pleasant, training was 6 weeks long to best prepare you with the knowledge you need, and leadership strives to build your skills."
• "Through 5 years, 4 positions, 4 buildings, 2 moves, and 1 pandemic, I have always felt valued and that my job is fulfilling, regardless of my daily tasks."

Farmers Insurance employee growth opportunities

Farmers Insurance offers a range of employee growth opportunities, including resources, support, and internal career growth prospects. The company is committed to helping employees build their careers and offers a full suite of benefits to support employees across various life stages and careers.

Educational Courses

The University of Farmers provides educational courses for employees to develop professionally.

Tuition Assistance Program

Employees can take advantage of the Tuition Assistance Program to further their education and enhance their skill set.

Mentorship Opportunities

Enterprise mentorship opportunities are available for employees to learn from more experienced colleagues and develop their skills and knowledge.

LinkedIn Learning Subscriptions

Free LinkedIn Learning subscriptions are provided to all employees, allowing them to access a vast library of online courses and resources for professional development.

Career Paths

Farmers Insurance offers a range of career paths for employees to explore, including corporate positions in claims, IT, finance, underwriting, and more. Employees can also consider becoming agency owners, district managers, or working for a Farmers agency.

Employee Resource Groups (ERGs)

ERGs are voluntary, employee-led groups that foster a diverse and inclusive work environment. By participating in ERGs, employees can build their leadership skills and contribute to creating a more inclusive company culture.

Awards and Recognition

Farmers Insurance recognizes and honours the performance of outstanding employees and teams through the Props! program. Employees can earn points for their work and redeem them for rewards, boosting morale and motivation.

Community Engagement

The company encourages employees to volunteer and engage in meaningful service within their communities. Through Farmers Gives Back by Benevity, employees can track their volunteer hours and earn rewards to donate to eligible charities of their choice.

Competitive Compensation and Benefits

Farmers Insurance offers competitive compensation packages, including salary, incentive pay, annual merit reviews, and spot bonus programs. Additionally, the company provides a range of health, retirement, and work/life benefits to support employees' well-being and work-life balance.

Overall, Farmers Insurance provides a variety of opportunities for employees to grow and develop their careers, offering the resources, benefits, and support needed to thrive in their roles and achieve their professional goals.

Frequently asked questions