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WAGING THE WAR FOR TALENT AND OTHER HOT BUTTON HR ISSUES: Viewpoints from an Industry Insider

WAGING THE WAR FOR TALENT AND OTHER HOT BUTTON HR ISSUES: Viewpoints from an Industry Insider. Presented by: Margaret Resce Milkint Managing Partner. 2014 Chicagoland IASA Event.

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WAGING THE WAR FOR TALENT AND OTHER HOT BUTTON HR ISSUES: Viewpoints from an Industry Insider

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  1. WAGING THE WAR FOR TALENT AND OTHER HOT BUTTON HR ISSUES: Viewpoints from an Industry Insider Presented by: Margaret Resce Milkint Managing Partner 2014 Chicagoland IASA Event

  2. "Change can either challenge or threaten us...Your beliefs pave your way to success or block you."  -Marsha Sinetar, Author and Educator

  3. Growing Talent Drain

  4. Unemployment Rate 6.7% (overall) 2.1% (Insurance) Source: Bureau of Labor Statistics (BLS)

  5. Recruiting Challenges Positions rated 5 or above are considered moderate or difficult to fill. Source: The Jacobson Group and Ward Group Semi-Annual U.S. Insurance Labor Outlook Study, January 2014

  6. The median age for insurance professionals is 45 YEARS. Only 26.67%of industry workers are under the age of 35. Source: BLS

  7. Workers aged 45 and older make up 48%of the industry workforce. Nearly half of industry professionals will be retired or on the verge of retirement within 15 years. Source: BLS

  8. Multi-Generational Workplace

  9. For the first time in history, four generations are working side by side. Source: BLS

  10. Generational Snapshot Source: U.S. Census Bureau

  11. Traditionalists(1900 – 1945) Strong work ethic Value work and job Place duty before pleasure Reluctant to technology changes • Hot Buttons: • Flexibility • Privacy • Respect Source: U.S. Census Bureau

  12. Working with Traditionalists Communicate face-to-face. Take a more formal approach. Value their experience; tap into their knowledge base. Honor the chain of command.

  13. Baby Boomers(1946-1964) Workaholics Find sense of self in the work they do Extremely competitive Sometimes resistant to change • Hot Buttons: • PTO/Flexibility • Privacy • Respect Source: U.S. Census Bureau

  14. Working with Baby Boomers Be clear on objectives and desired results. Be patient with their need to work through Bureaucracy. Give them your full attention. Acknowledge that you have less experience. (when appropriate)

  15. Generation X(1965-1976) Value productivity Work-to-live mindset Technically competent Independent and entrepreneurial • Hot Buttons: • Work/life balance • Flexibility • Challenge and autonomy Source: U.S. Census Bureau

  16. Working with Generation X Do not micromanage. Allow them to multi-task. Use technology. Be open, honest and casual.

  17. Millennials(1977-1995) Want to make an impact Collaborative and energetic High employer expectations Technologically savvy • Hot Buttons: • Upward mobility • Team work • Flexible hours Source: U.S. Census Bureau

  18. Working with Millennials Create a collaborative environment. Encourage new ideas and be flexible. Commit to diversity. Promote mentorships and provide leadership.

  19. Analytics and Social Media

  20. Staff Increases by Function Most Likely Least Likely Most in Demand Least in Demand Source: The Jacobson Group and Ward Group Semi-Annual U.S. Insurance Labor Outlook Study, January 2014

  21. Nearly 3 out of 4 insurance companies think analytics will give them a competitive edge. Source: U.S. Department of Labor

  22. Participate in continuing education opportunities and analytics training.

  23. A new person joins LinkedIn every second. Facebook has 1 billion active users. Twitter receives 5,700 tweets every second. Source: Leverage

  24. 79% of companies are already using or planning to use social media in their business strategy. Source: www.inc.com

  25. Social media is not about which platform is better; it is about cultivating relationships. Stick to the platforms that most effectively enable you to engage your target audience.

  26. Workplace Diversity

  27. Benefits of Diversity Wider range of perspectives Broadened talentbase Deeper client connections Improved retention and performance

  28. Women and men make up equal portions of the workforce. BUT… Women make up only 12%of insurance industry board seatsglobally. Only 6%of top insurance industry executive positions are filled by women. Source: BLS and St. Joseph’s University

  29. Male allies and champions are invaluable! Signifies working together to achieve equality

  30. Sponsorship provides an opportunity to connect with leaders and visualize new opportunities. Sponsorsprovide direct and honest feedback about what it takes to be successful.

  31. “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." -Charles Darwin, Naturalist and geologist

  32. Questions? Thank You!Margaret Resce Milkint Managing Partner The Jacobson Group +1 (312) 884-0410 mmilkint@jacobsononline.com www.jacobsononline.com

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