USAA aims to fill 2,600 new and existing positions by the end of 2021 and will also drastically increase minimum pay as an added recruiting incentive, the company disclosed on Oct. 11.
The P/C insurer and financial services provider for members of the military and their families will boost minimum pay from $16 to $21 per hour, the company disclosed on Oct. 11, amounting to $43,680 annually. According to USAA, the measure went into effect on Oct. 10.
“USAA’s employees are the heart of our association and providing a competitive pay and benefits package is one way we reward them for providing exceptional service to military members and their families,” USAA President and CEO Wayne Peacock said in prepared remarks. “Increasing our minimum pay and enhancing our already comprehensive benefits package helps ensure we’re being responsive to our employees’ needs and dynamically changing market conditions.”
USAA said that minimum annual compensation can expand further, up to $53,940 with the holiday bonus, annual performance incentive, 401(k) match, and pension, which is equivalent to nearly $26 per hour.
In a related move, USAA expects it will fill 2,600 positions by the end of the year.
Of that total, about 1,500 positions are at the company’s San Antonio headquarters, with the remaining positions spread across USAA campuses in Phoenix (200), Tampa (200), Colorado Springs (100) and Dallas (100).
Many of the positions are hybrid or remote work, following a model started earlier this year in the wake of the coronavirus pandemic, USAA said.
Available positions include member service representatives, auto and property claims adjusters, data engineers, data scientists, IT analysts, software engineers, and underwriters. USAA said it will continue to encourage its current employees to recruit mission-driven individuals to be a part of the USAA team. Employees will be eligible to earn up to a $2,000 referral bonus.
New USAA benefits in 2022 will also include a childcare reimbursement program for employees making less than $100,000 base salary, a college scholarship program for employee dependents with a financial need, and a paid leave program for issues including having to care for sick family members, according to the company.