Work Smarter to Climb the Ladder Presented by: Jack J. Johnsey - - PowerPoint PPT Presentation

Work Smarter to Climb the Ladder

Presented by: Jack J. Johnsey Senior Vice President

IASA Chicagoland Chapter Meeting April 25, 2013

The Current Landscape

Unemployment Rates

Source: U.S. Bureau of Labor Statistics

7.9% 4.7% 0% 2% 4% 6% 8% 10% 12% Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13

Overall Insurance & Related

Revenue and Staffing Expectations

Increase Revenue 86.3% Flat Growth 10.1% Decrease Revenue 3.6%

12-Month Revenue Plan

Increase Staff 56.2% Maintain Staff 33.5% Decrease Staff 10.3%

12-Month Staffing Plan

Source: The Jacobson Group and Ward Group Insurance Labor Outlook Study, January, 2013

Recruiting Difficulty Continues

On a scale of 1 – 10 (10 being most difficult), companies responded that positions are still moderately difficult to fill and recruiting is slightly more difficult in most disciplines than it was a year ago. Positions rated 5 or above are considered moderate or difficult to fill. Product line has a significant impact on the ease of filling positions.

2 4 6 8 10 Operations Accounting Claims Compliance Sales/Marketing Underwriting - Reinsurance Companies Underwriting Product Management Executives Technology Actuarial

Source: The Jacobson Group and Ward Group Insurance Labor Outlook Study, January, 2013

The Demand

Least Likely Most Likely

The Semi-Annual U.S. Insurance Labor Market Study asked insurance companies to rate each function in its likelihood of staff increases in 2013.

Source: The Jacobson Group and Ward Group Insurance Labor Outlook Study, January, 2013

3% 10% 17% 28% 32% 46% 47% 0% 10% 20% 30% 40% 50% Correct the Manager to Staff Ratio Other Reorganization Improve Service Currently Understaffed Expansion Anticipated Increase in Volume

Reason to Increase Staff During Next 12 Months

Staff Increases

Staff Decreases

2% 3% 3% 5% 10% 16% 19% 0% 10% 20% Correct the Manager to Staff Ratio Other Discontinued Operations Anticipated Decrease in Volume Currently Overstaffed Reorganization Automation

Reason to Decrease Staff During Next 12 Months

Aging Workforce

Millennials Gen X Baby Boomers Traditionalists 38.5% 4.7% 32.1% 24.7%

The insurance industry currently employs 2.2 million workers. The average retirement age in the U.S. is 63. Workers 45 and older account for 48 percent of the insurance industry’s

• workforce. Nearly half of

the industry’s workforce will be retired or on the verge

• f retirement within the

next 15 years!

Source: BLS and AARP

U.S. Workforce by Generation

Shifting Dynamics

Never in the modern world have there been four generations in the workplace; all bring vastly different beliefs, expectations and values. Never has a generation entered the workplace using such advanced technologies as those adopted by its employers. Never has technology made it so easy to connect anyone, anywhere for collaboration. Never has it been possible to acquire, use and seamlessly integrate talent from around the world.

THE DISAPPEARING CORPORATE LADDER

The rise to the top looks a lot different. The top itself is different. Today’s career path is likely to be dramatically different from the career expectations someone may have had even 10 years ago. Skills shortages force companies to consider creative hiring options. Lateral moves, recruiting from outside the industry, and non- traditional backgrounds are all viable options!

Personal Branding

Branding

From the digital world to the real world— personal branding principles stand firm:

Do you have an elevator speech? It will come in handy on your social networking sites. Be your own publicist! Make others aware of your character, strengths and personality. Understand that networking is not about what someone can do for you; it is about what you can do for someone else. Follow up is key!

Critical Questions to Develop Your Personal Brand

• 1. What do you do?
• 2. What do you want to do?
• 3. What sets you apart?

Social Media Saturation

• A new person joins LinkedIn every second.
• Facebook has 750 million users.
• Twitter receives 1.6 billion queries per day.
• YouTube exceeds 2 billion views per day.

Social media is an essential component

• f networking!

Sources: LinkedIn, Facebook, Twitter, YouTube, Mashable

15

Manage Your Digital Footprint

Google yourself! Control the message that is conjured up when someone thinks of you. Increase your presence and visibility. Distinguish yourself from others.

You are the CEO of YOU!

It’s About Relationships!

New marketing is about the relationships, not the medium.

• Ben Grossman

marketing and advertising strategist

It is not about which platform is better than the

• ther; it is about cultivating relationships.

Stick to the platforms that most effectively enable you to engage your target audience. Beware of “social fatigue!”

“ ”

What Does it Mean to Work smarter?

Consider Your ASSETS Experience Skills Talents

What you’ve done, seen and heard Competencies, behaviors, learned activity Natural strengths, attributes – things that are not learned

Now Consider How are my assets relevant TODAY? How do these skills differentiate me? What skills do I employ to solve problems and get things done?

Knowing Our Strengths

Our strengths come from our talents, skills and knowledge (experiences). Knowing one’s strengths is one of the most important insights we can gain for shaping our work future. We won’t be great at anything we don’t enjoy.

Stopping Our Weaknesses

We’re likely to sustain no more than two points of improvement. Focus on moving our job toward

• ur strengths and away from
• ur weaknesses.

Weaknesses Strengths

100 percent improvement

• n our weaknesses just

gets us to average. 20 percent improvement on our strengths takes us from good to great!

Prioritize and Delegate

Identify high-impact and easily obtainable initiatives— do these first! Learn to say “No” to non- essential demands.

Prioritizing Your Initiatives

• 24 -

Profit impact of initiative

High 10 1 Low

Ease/speed of implementation

• f initiative

10 Very Easy Very Hard 1

How Do We Work Smarter to Climb the Ladder?

Understanding the shifting dynamics that drive today’s labor market. Think beyond traditional corporate hierarchical ascension. Develop a unique brand that differentiates. Showcase it across all mediums. Maximize our strengths; understand our weaknesses. Prioritize work to tackle high-impact, easily

• btainable objectives first.

Questions? Thank You!

Contact: Jack J. Johnsey Senior Vice President (312) 726-1578, ext. 438 jjohnsey@jacobsononline.com