We Can Work It Out: Integrating Millennials Into the Workplace (CAD005)

Transcription

1 We Can Work It Out: Integrating Millennials Into the Workplace (CAD005) Speakers: Melissa Dunn, VP and Managing Director, Helmsman Management Stephanie Conner, Senior Analyst, Risk Management, The Walt Disney Company

2 Melissa Dunn, VP and Managing Director, Helmsman Management

3 Learning Objectives At the end of this session, you will: Understand the impact of changing demographics on the workforce and in particular insurance and claims industry Evaluate practices to increase engagement and combat turnover Learn about innovative programs to attract, retain and develop young talent

4 Changing Demographics 53.5M Millennials 52.7M Gen Xers 44.6M Baby Boomers MILLENNIALS adults ages 18-34, born between M Silent Generation Pew Research Center analysis, Wall Street Journal, Millennials Become the Biggest Generation in the U.S. Workforce, May 11, 2015

5 Impact to Businesses OPPORTUNITY HIGH LEVELS OF WORKFORCE DISRUPTION Retirements and Recruitment A highly educated workforce Digital expertise Fresh perspectives and new levels of energy SHIFTING WORKPLACE EXPECTATIONS Millennials will require the workplace to adapt.

6 What Do Millennials Value? Feedback and positive reinforcement Formal leadershipdevelopment opportunities Desire for opportunities and to move up quickly Work connected to the greater good Exposure to different jobs and aspects of the business Access to technology and collaborative workspaces Opportunity to work remotely and telecommute Engagement and inclusion

7 Adapting the Work Environment Attract and Retain Talent Maintain Standards Establish Multi-Generation Cohesion Flexibility Leadership training Technology and workplace enhancements Employee-resource groups Rotational programs

8 The Perception Problem When we think of insurance jobs.what comes to mind Repetitive, desk job, adversarial, complicated Several things have impacted the nature of the work Demand for big data and analytics Enhanced Compliance Requirements Telecommuting

9 The Upside Reality Plenty of jobs Competitive salaries Stability Career Growth Flexibility International opportunities Claim departments can be interesting and fun

10 Rebranding the Position Strategies for Attraction and Retention Success with Risk Management / Insurance major grads in claims has been variable Expectations for promotion and growth Low priority for interest Often move to positions in sales, service or UW Consider partnering with Colleges to build out claims curriculum Success with experience in social service, teaching, public service or government How to balance the soft side of the job with data and analytics demands Accelerated / scheduled promotions

11 Tapping into the right channels Campus Recruiting Internet presence reaching millennials where they live Games, apps and sites specific to campus recruiting YouTube video series Interview Myth Buster Sales Academy Intern Challenge LinkedIn Twitter Vine

12 Approach Building on a philosophy of hiring, training and retaining top claims talent, an enhanced focus on three areas of impact Recruiting Career Mobility Employee Development

13 Recruiting: Bringing in the right talent INCREASE IN TURNOVER EARLY ENGAGEMENT STRONGER, CLEARER RECRUITING TOOLS Enhanced job descriptions Detailed brochures that highlight company, culture ENHANCED INTERVIEW 2-3 interviews for multiple perspectives Job shadowing to give the candidate exposure to the role and team EVOLVE OUR HIRING MINDSET ONLY HIRE WOWS Beyond aptitude, hire for attitude

14 Claims Adjusters, Case Managers, Nurses 32 different ways to enter the organization. Risk Control Consultants and Researchers Underwriting, Marketing, Sales Professionals Actuarial, Finance, Product Management Information Technology, Human Resources On average, one third of our new external hires are recent college graduates.

15 Claims Marketing & Sourcing Career Fairs and Virtual Career Fairs General and Liberal Arts majors, open to all non-technical; Health & Safety majors Upon identifying students interested/fit for Claims, make note and connect with student organizations with similar students Virtual career fairs expand our reach to highly ranked schools beyond Target school list Engage claims specialists and claims managers on campus Present to targeted student population (classroom presentations, student club meetings)

16 Claims Marketing & Sourcing (continued) Have former interns spread the word Ask them to share internship & FT opportunities with their peers; Ask them to connect us with their student orgs, professors, etc. Student Organization partnerships Present opportunities at organization meetings communications with position details to members Attendance at organization hosted events (networking dinners/lunches and career fairs) Claims Case Studies Alpha Kappa Psi, Delta Sigma Pi, Gamma Iota Sigma

17 Leadership Forum Offered to High Performing 3 rd year students with interest in Insurance 3 day program in home office environment Opportunities to meet with CEO and Senior Leaders Workshops designed to highlight leadership skills Networking with student leaders from 30 Universities Programs designed to explore internship opportunities

18 The Value of the Internship / Externship Traditional Interns Functions as an extended job interview Allows the candidate to get a real feel for the job and environment Rotational assignments allow for brief immersion in different disciplines Locks in candidates prior to graduation Externships Promoted through campus recruiting Allows full day immersion experiences Job shadow in local claims or sales office Aimed at second and third year students to attract interns

19 Full Time Development Programs Actuarial Student Development Program Claims Rotational Program Financial Management Program Human Resources Development Program Product Management Development Program Technical Development Program Underwriter Training Program Business Analytics Development Program Program participants form friendships and become part of a community.

20 Career Mobility: Building employee engagement We address the needs of millennials or any engaged employee to learn, be developed, and be connected to their organization through mutual commitment CAREER LATTICE PHILOSOPHY Encourage and enable employee to take lateral moves as a means to career progression ROTATION PROGRAM Targets employees in their first 1-2 years with company Roles in new line, complex and analytic teams ACCESS TO SPECIAL PROJECTS and ASSIGNMENTS Elite program for top-30 claims employees Work on in-depth project with executive coaching

21 Employee Development: Managing our Talent Investment 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

22 Fostering Career-long Growth Management training at every level Front line to mid-level and executive Significant Focus on people skills Diversity and Development Competitive Operations Business Acumen Tuition Reimbursement Programs Recognize and Reward Professional Designations Continued opportunity for diverse opportunities Common to see transitions between business units

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

24 Stephanie Conner, Senior Analyst, Risk Management, The Walt Disney Company

25 Learning Objectives At the end of this session, you will: Learn how to attract and retain top millennial talent in a changing business landscape. Find out how a large U.S. business shifted its culture to prepare for the millennial generation. Hear firsthand from a millennial how she has learned to appreciate working in the risk management industry and how you can position these younger workers to succeed.

26 Path to Risk Management College Internship & Major Helmsman Adjuster Dedicated Disney Adjuster Know clients and colleagues Partnership is key Every meeting like a job interview Take advantage of opportunities Disney Risk Management

27 Future Workforce By 2025 Millennials will account for % of the global workplace. 42% 54% 75% 83% (U.S. Bureau of Labor & Statistics)

28 Millennials in the Workplace

29 Different Perceptions

30 Different Perceptions

31 Business Segments & Different Cultures Media Networks Parks & Resorts Studio Entertainment Disney Consumer Products & Interactive Media

32 Number of Employees The number of employees at The Walt Disney Company is: 150, , , ,000

33 Media Networks

34 Theme Parks and Resorts

35 Studio Entertainment

36 Consumer Products & Interactive Media

37 Our Three Key Messages Our reputation is our greatest asset; Almost every accidental loss is preventable; Every Cast Member is a part of the Risk Management process.

38 Performance Excellence Delegation & Empowerment Total Quality Management Leadership & Training Team Building Performance Excellence Continuous Improvement Customer Service Productivity & Efficiency Effective Risk Management Cost Reduction

39 Disney Risk Management Planning & Processes Risk Protection & Prevention Management People: Cast Members And Business Partners

40 Our Purpose in Risk Management As a part of the organization: to protect the assets of The Walt Disney Company at the lowest possible long-term cost As a team of professionals: to provide the highest quality technical and professional services for the protection and experience of our Guests, Cast, Property, and Business Partners Millennials in Disney s Corporate Risk Management team

41 Disney Corporate Risk Management Team 60% 50% 55% 50% 40% 30% 20% 31% 39% 19% % 0% 6% Baby Boomer Gen X Millennial

42 Hire & Retain Millennials Business Relationships Trusting Partners Transitional Training and Transfers within Departments Appropriate job placement & versatility Average tenure for Millennial is 2 years Average tenure for Gen X is 5 years and 7 for Baby Boomers Innovation Reshape and redefine workforce Technology Explore and embrace

43 Technology & Social Media 56% of Millennials will not work at a company if they ban social media access. 71% of Millennials do not always obey social media policies at work. 40% of Millennials think that blogging about workplace issues is acceptable. (Cisco & Iconoculture)

44 Technology is Key Gen X & Millennials 90%+ HR Interaction HR Communication Instant Message Check smart phone on average 43 times per day Social media How community reacts to a moment Using platform

45 Importance of Mentor Baby Boomer & Millennial Connection Changes shifting from Baby Boomer to Millennial Involvement and opportunities Meeting invites for exposure Encouraging educational advancements Open feedback away from annual review

46 Performance Feedback % of Millennials said they prefer on-thespot recognition over formal reviews, and feel that this is imperative for their growth and understanding of a job. 37% 59% 80% 91% (Achievers and Experience Inc.)

47 Real Life Examples in Risk Management Claims Adjuster from Liberty/Helmsman Risk Management student at RIMS conference Broker Recommendation Walt Disney World Cast Member Insurance work history and networking with WDW Risk Management

48 Quality in Action The Disney Way Of all the things I ve done, the most vital is coordinating those who work with me and aiming their efforts at a certain goal. Walt Disney