Culture can be easy to spot but hard to define. “I know it when I see it” you’re probably thinking. While it’s tricky to pinpoint all the factors that go into a positive culture, it’s vital to any talent management strategy in 2020.
Those who neglect it put themselves at a competitive risk in fact – it doesn’t take long for the greener grass to beckon to a disgruntled employee who is feeling the effects of a toxic work environment.
For insurers, culture should be front and center to their 2020 business plans. Consider this: 400,000 workers are predicted to retire from insurance jobs this year. With more open positions than candidates out there, culture can set a company apart from the rest of the pack.
To remain competitive, it’s important to know what culture means and where your company’s culture stands with its employees. Recently RGA Group Research and SALT Associates conducted a survey of North American life and health claims management professionals to understand their level of awareness and satisfaction with their current workplace culture.
While nearly all participating insurers have done well documenting and sharing their company’s values and culture tenets, survey respondents shared that work remains to be done with recognition and training opportunities. This is a concern given the importance of these two items to the next generation of workers.
Check out our infographic below to discover the 6 elements of workplace culture and where claims leaders can focus to improve employees’ on the job satisfaction.