Over the last several years, there have been numerous discussions in the insurance industry regarding how to successfully attract new talent. However, equally as important is what to do with talent once you have them on board. It is important to plan out a structured development plan to motivate and excite your employees.
Here are four 2017 predictions as you consider your talent strategy:
The traditional “annual rating” performance review system is changing in many firms. The trend is to turn the once a year event and forced ranking/rating systems into regular, more frequent conversations around performance and personal growth. The benefits include closer alignment and flexibility matching the changing demands of businesses. Changes happen throughout the year and employees need to remain engaged close enough to adapt, grow and receive rewards for their contribution to business progress.
Social media, smaller burst learning and gamification will grow in 2017. They are already in delivery-mode within the learning community. The integration of various modes will continue to expand the blended approach for a robust and engaging learner experience. Curricula will be more personalized for deeper learner involvement. The days of only reading/listening or eBooks is diminishing.
In 2017, there will be more training requiring greater learner involvement at the logic/reasoning, analysis and synthesis learning objective levels. This will require “trainers” or “eLearning developers” to go beyond delivery and back to well-planned and integrated learning methodology. Learning paths are also back as companies seek to develop and retain talent. The manager will not direct the learning – the individual will self-direct. Employees will evaluate an employer’s viability as to how much learning to grow is made available.
Keep in mind IIAT offers convenient and affordable eLearning options for your employees through our training portal you can access here. You’ll find flexible, on-demand modules for new hire onboarding, business skill development and emerging leaders.
Recruiting and hiring will grow in 2017. Boomers are still exiting, the economy is growing stronger, unemployment is low and more jobs are available. All of this means that talent will leave for more money or promotional opportunity. It’s time for every company to discuss employee retention as part of their overall engagement strategy.
The recession forced many companies to pull back benefits that were once available to employees like four-day work weeks, tuition reimbursement programs and 401K match. It’s time to determine if you should expand perks again. One of the highest-ranking perks is flexibility for employees to work remotely. Leaders will need to make retention part of every leadership team’s monthly agenda.
Companies are still studying the millennial job trends to prepare their leaders to hire, train and coach this group. Well, next year GenZ will enter the workforce. Leaders need to know how to recruit today’s talent – period. Stop comparing generations and focus more on effective techniques.
According to a Forbe’s recent study, the average tenure for millennials is two years. This does not mean every new hire will leave your firm, but aim to deploy the strategies mentioned above. Revisit your benefits package – is it competitive? Are there additional benefits you can include that are unique or special to make your company a stand-out?
Make sure your social media and website is current. A huge turnoff is when a potential new hire reviews a company’s web page which looks out of date and hasn’t had a press release in over six months!
As workplace trends continue to evolve, it’s important to your organizations success and employee retention to re-evaluate your strategies each year. If you need assistance with employee education contact Sheridan Roe at 512.493.2428