Workers’ Comp Future – Recruiting & Retaining the Next Generation of Claims Talent

At the 2015 National Workers’ Compensation & Disability Conference, a panel presented a session titled “Workers’ Comp Future – Recruiting and Retaining the Next Generation of Claims Talent.”

The panel included:

• Jennifer Burkhart, National Workers’ Comp Claims Leader, Westfield Insurance
• Dan Holden, Manager of Corporate Risk & Insurance, Daimler Trucks North America
• Rick Thompson, VP of Talent Management & Administration, Rising Medical Solutions’

Let’s take a look at the corporate world 10 years ago:

• no cell phone at work
• business formal dress code
• very little schedule flexibility or work from home
• employee handbook over 100 pages
• annual reviews
• less than 10% of workers were Millennials
• one computer desktop/screen
• virtually no online collaboration

Let’s talk about Millennials

• they are already in the workplace-largest group of US workers
• they are enticed by technology but not necessarily skilled
• they are impatient
• they embrace collaboration over hierarchy
• they want to have fun even at work
• they want to make a difference
• they want flexibility
• they are well educated, but often ill-equipped
• they are less rebellious than Boomers and Xers

Millennial Myths

• they lack a work ethic and motivation
• they are disengaged
• they are good at multi tasking
• they like to work at home by themselves
• they love to communicate via email
• they don’t want to be told what to do
• they only want to learn online at their own pace

Top 10 jobs for Millennials in 2015 (Source: “The 10 Surprisingly Best Jobs for Millennials”)

1. Advertising Account executive
2. civil engineer
3. computer systems analyst
4. data scientist
5. financial planner
6. market research analyst
7. physical therapist
8. social media manager
9. software engineer
10. statistician

Millennial challenges

• they dont know/care about insurance/risk management
• many are not well equipped for leadership positions
• loyalty/commitment(higher turnover)
• impatience/want quick advancement
• talent shortage of 85,000 commercial claims professionals in 2015

Tips for Recruiting Millennials

• understand what motivates them
• have a social media presence
• have Millennial staff participate in your social media
• be sure your careers site is mobile friendly
• consider use of video resumes, Skype interviews, etc
• promote your company culture to job seekers
• develop relationships with colleges/universities
• internships
• show them what’s in it for them

Developing and Retaining Millennials

1. maintain a casual atmosphere  – alienated by formalities and want to work where they can be themselves

2. focus on results rather than rules and procedures – millennials willing to sacrifice 14% of their salaries for flexibility and prefer specific deadlines to set set work hours

3. invest in technology – more than half of millennials say office technology is a key factor in choosing an employer, entice younger employees with access to to the latest computers, smartphones and tablets

4. dont block social media, have millennials take an active role – social media policies can be important, but make sure your workplace welcoming to younger employees

How to Create a Millennial-Friendly Workplace

• by listening to their ideas
• and set your expectations from the start
• establish primary communication channels
• help Millennials find their fit
• offer coaching and feedback
• provide development and leadership opportunities
• mentor

Succession planning is vital. You have to pass the torch. This enables your organization to identify talented employees and provide education to develop them for future higher level and broader responsibilities. The company is able to assess the current situation to plan the workforce of the future. A succession plan includes developing a plan to address succession of current workers as they leave the workforce due to: retirement, attrition and other factors.

Westfield Insurance Case Study

Westfield Insurance created a program called Westfield University Ambassador Program. This program executes recruiting efforts to hire trainees for Graduate Development Program and various company wide intern positions. The mission was to improve the outlook for the P&C industry by investing in attracting and developing talent to insurance as a career. Some of the various outreach initiatives include pledging $500,000 to Kent State to support its Bachelor of Science in Insurance Studies, established a scholarship at Bowling Green State University for students majoring in insurance studies and also became the first company in 2014 to join the “Insurance and Risk Management Institute”, established by the 7 universities and colleges in Ohio offering insurance related degrees.

The Graduate Development Program (GDP) is a 6 month classroom based training for recent graduates on insurance related areas. These candidates are hired and trained for a specific insurance discipline. There is opportunity during this 6 month period and beyond for self study eLearning to support GDP program studies and individual development. The first workers’ compensation GDP program was developed 2 years ago. There are plenty of networking opportunities with leaders across the organization. The program includes coaching and mentoring throughout the program from experienced Westfield employees.

There is leadership potential with the Millennials. They are confident, self expressive, open minded and upbeat. They are open to change and driving new technology. Millennials want to work for and with those that fit their interests and passions. They are not bound by constraints of the past but they are advocates for reducing, reusing, recycling, repurposing and remembering. MIllennials have a very positive view of their future and their contribution to it.