Opportunity Highly educated workforce Digital expertise Fresh perspectives, new levels of energy. Shifting workplace

Transcription

1 Evolving Workforce Today s Workforce 52.7M 53.5M 44.6M Baby Boomers Gen Xers Millenials High levels of Workforce Disruptions Retirements and Recruitment Shifting workplace expectations Millennials will require the workplace to adapt. Opportunity Highly educated workforce Digital expertise Fresh perspectives, new levels of energy

2 What Do Millennials Value? Feedback and positive reinforcement Desire for opportunities and to move up quickly Formal leadershipdevelopment opportunities Exposure to different jobs and aspects of the business Work connected to the greater good

3 Affordable Care Act 24 Hours

4 Key Components Recruiting Career Mobility Manager Development Building on a philosophy of hiring, training and retaining top claims talent, an enhanced focus on three areas of impact

5 Recruiting Early Engagement Evolve our hiring mindset we only hire wows Beyond aptitude, hire for attitude Hold hiring managers to the wow standard Benefit Levels of energy and engagement that match our culture Enhanced interview 2 3 interviews to get multiple perspectives Job shadowing gives candidate exposure to the role and team Case study component provides tangible insight

6 Career Mobility Explore Evaluate Plan New Job Execute Employee Development Tools Career roadmap that supports employee goals Lattice versus Ladder Step-by-step framework for partnering with managers to identify future opportunities Resources for Managers Career conversation guide One-on-one coaching guide Career lattice tool

7 Key to success: Manager Development Onboarding Playbook Formal Mentorship In the first 12 months on the job, each new manager receives monthly mentorship from a senior manager. Formalized topics address different leadership issues. Mentorship across the team New Hire Mentorship Program: Focuses on career development and mobility Manager Development Program: Focuses on the skills and opportunities needed to transition to management

8 Prepare and evolve as the professional world does Structure your organization for success Attract, retain, and develop wows

9 Ready The world is evolving at an increasingly rapid rate, with countless new disruptive technologies emerging that will affect our industry for years to come. Aim Claims organizations must evolve and structure themselves to meet the needs of customers, agents, and brokers in the face of tremendous change. Hire Making the right hiring decision is even more critical in today s world. Attracting and retaining millennials requires a different approach to employee selection and development.

10 Recruiting: Bringing in the right talent Recruiting INCREASE IN TURNOVER EARLY ENGAGEMENT ENHANCED STRONGER, EVOLVE OUR INTERVIEW CLEARER HIRING MINDSET RECRUITING WE TOOLS ONLY HIRE WOWS 2-3 Enhanced Beyond interviews aptitude, job descriptions for hire multiple for attitude perspectives Job Detailed Hold shadowing hiring brochures managers to give that to the highlight the candidate wow company, standard exposure culture to the role and team Case study component to provide tangible insight + BENEFIT We Drive Levels hire transparency of people energy who and that want engagement allows to work recruits for that us and match and who Helmsman our culture meet our to make rigorous the standards right choice 10

11 Manager Development: Managing our talent investment Manager Development ONBOARDING PLAYBOOK FORMAL MENTORSHIP In the first 12 months on the job, each new manager receives 1 hour of mentorship per month from a senior. Formalized topics address different leadership issues. MENTORSHIP ACROSS THE TEAM New Hire Mentorship Program: Focuses on career development and mobility Manager Development Program: Focuses on the skills and opportunities needed to transition to management 11

12 What We ve Learned This is a process and you change your culture, hiring practices and engagement incrementally Hold employees accountable but give them opportunities Mentor and coach and give practical experience Communicate provide real-time feedback, frequent check-ins, detailed reviews Invest in your teams and build mutual commitment 12

13 Key Demographics Estimated 25% of workforce older than 55 by 2022 Millennials now surpass all other generations in the job market (and they re not interested in a career in insurance)! 50% of workforce to retire in the next 10 years 500,000 Insurance Professionals to retire by Sources: A Primer on Recruiting and Retaining Millennials, Property Casualty 360, March 2014; Yes, Millennials and Boomers Can Work Together, Forbes Magazine, July 2015

14 Attracting Talent Networking College Recruiting Internships Social Media Industry Targeted 14

15 Retention Strategies MENTORING Leader to Colleague Peer to Peer Formal v. Informal CAREER DEVELOPMENT Professional Designations Leadership Training INFORMAL LEADERSHIP ROLES Thought Leadership Project Management LONG TERM INCENTIVE PROGRAMS REWARDS AND RECOGNITION FLEXIBLE WORK ENVIRONMENT 15

16 Leveraging Generational Differences Understanding that one size fits all leadership is counter-productive Determining and utilizing generational strengths: BOOMERS Loyal Strong Work Ethic Good Communication Skills GEN XERS Adaptable Results-Driven Technologically Savvy MILLENNIALS Innovative Team Oriented Technologically Advanced Achieving balance among generations Diversity of perspectives Addressing specific client needs Maximizing strengths/minimizing opportunities 16

17 Managing Generational Challenges VIEW OF STRUCTURE BOOMERS Expect all to be Workaholics GEN XERS Dislike Rigid Work Requirements MILLENNIALS Need Structure and Supervision VIEW OF AUTHORITY BOOMERS Impressed by Authority GEN XERS Unimpressed by Authority MILLENNIALS Relaxed about Authority FEEDBACK AND REWARDS BOOMERS Want to be Rewarded by Money GEN XERS Want to be Rewarded with Time Off MILLENNIALS Want Meaningful Work 17 Source: Generational Differences, Wnfc.org, 2010

18 Controlling Turnover Transition to Retirement Succession Planning Pre-emptive Identification of Potential Hires Interns Networking Investing in Future Talent Entry Level Additions Monitoring Pulse of Staff Engagement Initiatives 18