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More Now Working Beyond Retirement Age

Posted By Administration, Tuesday, July 18, 2017

They call them the golden years and those living them are defined as senior citizens. Those of us that are older might hate both descriptions. What is a “senior” citizen anyway other than a number?

For many of those in the so-called golden years work continues and there are a lot more than expected says a new report on jobs issued by the U.S. Department of Labor’s Bureau of Labor Statistics. The numbers are surprising but not:

 

  In the 2nd quarter of 2017 a whopping 19% of those 65 and older are working at least a part time job

  It’s the highest ratio in 55 years

  In the 2nd quarter 32% of those 65 to 69 continued to be employed

  In the 2nd quarter 19% of those 70 to 74 were still working

  That’s up from 11% in 1994

 

Here’s an odd statistic. Those under 65 are working less and those over 65 working more. The prediction is that 36% of people 65 to 69 will be employed by 2024. That’s up from 22% in 1994.

 

The big question is why. Some reasons:

  More people in those age brackets are healthier now than in the past

  People are living longer

  Some just enjoy their jobs or careers and want to stay active

 

And then there are those that can’t afford to quit working. They need the money:

  Longer lives and rising health care costs have made retiring more expensive

  Stagnant wages and pension declines are also contributing

  And a high percentage just haven’t saved enough or invested wisely

 

On the still wanting to work front, the Employee Benefit Research Institute (EBRI) says 79% of those they checked in with want to keep working — at least part time — to help supplement retirement income.

A lot of older people are also now doing their own thing in their own businesses rather than work for an employer. One reason that’s happening is employers — at least a large percentage of them — aren’t interested in older workers.

And when it comes to insurance that might be a big mistake.

An organization called WAHVE (Work at Home Vintage Experts) says agencies and companies would do well to continue to employ some of those experienced workers who are thinking of retirement. The reason — says WAHVE founder, president and CEO Sharon Emek — is because it’s really hard to get Millennials interested in working in insurance. She suggests not allowing what she calls the “boomer brain drain” and letting older underwriters, account executives and agents work from home.

“Many people are leaving the insurance workforce not because they don’t want to work, they’re leaving because they don’t want to work in an office anymore, or they can’t work in an office any longer … or they’re tired of driving two hours each way to work each day for the past 30 years,” she said.

Emek went on to say, “We have to recognize that life has been extended — when you’re 60 now, it’s not like it was 30 years ago. Today, people at 60 are energetic, they work out and do yoga, they’re smart, technologically savvy. They have a lot of wisdom and knowledge and they should not be put out to pasture. The industry needs to find creative ways to keep that talent.”

She says the biggest positive about her organization is that she has placed several hundred people wanting to keep working in insurance and that keeps talent the industry desperately needs in the game. “WAHVE gives them the opportunity to continue to do what they love, from home, and they can have that flexibility part time or full time. You can work from anywhere today. And it keeps that institutional knowledge in the industry, which the industry so desperately needs,” Emek added.

 

Source links: Insurance Journal, Insurance Business America

Tags:  Employees  Insurance Content  Insurance Industry  Insurance News  More Now Working Beyond Retirement Age  Weekly Industry News 

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Who Wants a Six-Hour Work Day?

Posted By Administration, Tuesday, June 20, 2017

Wellness has become a big deal since the advent of ObamaCare. Some companies focused on it before but once the Affordable Care Act passed it became even more important. Fitness, diet, mental health — all — have been pushed in larger businesses and some smaller ones.

Now a study out of Sweden says bag all that. What employees really need is a six-hour work day. The study took a 23-month look at 68 nurses in an elderly care facility who worked with 72 patients. The idea behind the study was to look at what a reduced work day will do to productivity.

When the smoke cleared, it was determined the nurses were happier, healthier and lots more energetic when working six-hours instead of eight. So the $1.3 million study — since the nurses still received full pay and 15 additional nurses had to be hired so all the work would get done — showed an improvement in the quality of life of the nurses and of the local community.

The study compared nurses participating in the study to those that didn’t. Those working six-hours took 4.7% fewer sick days and had fewer absences than those who worked eight-hours. In fact, the nurses not in the study saw an increase in absences of 60%.

The study was done in Gothenburg, Sweden and its deputy mayor Daniel Bernmar said, “There was also a feminist agenda. A six-hour workday will increase the ability of women to achieve economic independence. A shorter workday means that female part-timers will be translated into full-time jobs.”

Critics like Maria Ryden, a conservative on the city council and a former registered nurse, said the study is flawed. “Who wouldn't work better if you only had to work six hours? But somebody still has to pay for it. It's crazy and irresponsible. The results should have been so much better as a result of so much money and all this effort. I would have expected much better results than a 4.7 percent improvement in sick leave,” she said.

Both the conservative and liberal parties in the city say they do agree that health savings can be had if work hours are reduced.

Bengt Lorentzon is one of the researchers. He said the health of the nurses also was impacted in that they had more energy for exercise once they left work. So many spent the rest of their day being one to five-times more productive.

“Less tiredness and more physical activities is the major improvement,” he said.

In addition, the experiment not only saw less stress and more productivity and activity, they also had less neck and shoulder pain than those working eight-hours a day.

While critics pooh-pooh the idea and point fingers at the cost, Lorentzon said, “They would go the extra mile for the inhabitants. They had more time to sit down and listen, read a book, look at a newspaper with them, play a game or comfort some of the inhabitants not feeling so good.”

Moving to the reception of the study in the U.S. American Heart Association medical chief officer Eduardo Sanchez said it probably is beneficial to one’s health “but I wouldn't go so far to say that's absolutely the case.”

He thinks a longer study is needed. “It might have concluded that, actually, the six-hour workday doesn't cost more because the cost of more employees would be offset by the lower cost of less sick days and a more productive workforce that doesn't utilize medical care as much. They might have extended the study a little bit to understand the effect. Did they look at all the factors that might have better answered the question of, ‘Is this a good thing? Is this a neutral thing? Or is this not so good a thing?’”

Sanchez also pointed to a 2014 study of 10,000 employees of South Florida’s Baptist Health system. It said healthier hearts from a shorter work week translated into a $4,000 to $6,000 savings compared to employees with higher risk profiles.

Most nurses in health care facilities in the U.S. do a 12-hour shift and it often ends up being 13 or more. Stevenson University nursing expert Jeanne Geiger Brown said the six-hour study is interesting.

“We don't really know what the effect of a six-hour work schedule for U.S. nurses would be because it has not been studied here. It’s possible that patient care would improve because nurses would be less fatigued and more satisfied with their jobs. On the other hand, it would increase the number of handoffs in patient care, and each patient would have to adjust to four nurses a day rather than two,” she said.

Annie Perrin is with Leaders’ Quest, a non-profit leadership development group. She said improving the lives of nurses could end burnout and keep good nurses on staff longer. Another benefit — better patient care and more compassion.

“It may be in the short term more expensive around certain metrics. Over the long haul, they might get a really good return. Retraining new nurses is very expensive. The other metric in health care is the direct relationship between staff and customer experience. The two things that tend to differentiate health institutions in attracting top talent is geography and the staff experience. If a hospital wants to be more competitive in attracting talent, one of the key ways to do that is to have a really great work environment and employee experience,” she said.

Source link: Chicago Tribune

Tags:  Employees  Insurance Content  Insurance Industry  Insurance News  jobs  Weekly Industry News  Who Wants a Six-Hour Work Day? 

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Employee Violence & Homicides Increasing

Posted By Administration, Monday, June 12, 2017

Violence seems to be on the increase. U.S. Television and radio broadcasts and newspapers are packed with stories about people being assaulted or killed. The once considered fairly safe workplace is also under attack.

The Bureau of Labor Statistics released a report last week after the fatal shooting at a business in Orlando, Florida. It said workplace homicides rose 2% from 2012 to 2015 to 417. Shootings in the workplace jumped by 15%.

Most of the violence and deaths are because of revenge over a firing or workplace grievance or a romantic breakup or motive.

Threat assessment expert Michael Corcoran said, “It really all boils down pretty much to the same issues: A person wants to feel that they have more control, they want to have more power. What we are seeing when this happens is it gets played up more, so they say, ‘Ah OK, that’s an alternative.”’

Companies — notes Matthew Doherty of the threat and violence risk management firm Hillard Heintze — are getting better at spotting disgruntled employees and many have systems in place to monitor those who might be a threat. Tracking employees via an employee assessment team is critical for any company.

“Anybody that employs anybody in the U.S. should have one,” Doherty said. By the way, he before doing risk assessment for Hillard Heintze, he was a special agent for the Secret Service’s Threat Assessment Center.

Chris Grollnek — who is an active shooter prevention author — added that employees need to pay attention as well. “See something, say something’ is kind of tiresome. You see out-of-ordinary behavior, make a quick note. And if you’re in a bad situation, it’s get up, get out. There is no more hiding under a desk,” he said.

 

Source link: Insurance Journal

Tags:  Employee Violence & Homicides IncreasingWeekly Ind  Employees  Employment  Insurance Content  Insurance Industry  Insurance News 

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Two Things: Industry Employment Up & Insurance as a Job is 2nd Most Stressful

Posted By Administration, Tuesday, April 11, 2017

January 2017 was a good month for insurance industry employment. The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) said most insurance sectors saw a rise of employment in the first month of 2017.

Insurance Information Institute (I.I.I.) economist and senior vice president Steven Weisbart, Ph.D., CLU, analyzed the report. It’s a good news-bad news scenario. Yes, the January figures are good but they may not continue. The good news, under a Republican presidency and Congress changes may be coming for insurance that are good.

For agents and brokers January saw 11,400 jobs added to the workforce. That’s up 1.5% from January of last year and puts the employment level for agents and brokers at 781,900. The report says employment in the segment is strong and has been for the last three years. In July of 2012 there were 660,700. The rise of 121,000 is 18.3%.

Independent claims adjusters saw a rise of 4,000 to 59,600. The increase is 7.2%.

Health carriers saw gains. But year over year the jump is only 0.4% or 1,900. Health employees now sit at 470,900.

Life and annuity carriers employment is 6,400 to the good compared to 2016. That’s 1.9% and the number of employed in life and annuity is 350,600.

Reinsurance saw an employment rise of 100 over 2016 or 0.4%. Those employed in reinsurance is 24,900.

Job increases aside, the staffing firm Robert Half and Happiness Works who does analytics asked 12,000 U.S. and Canadian workers to ID their country’s most stressful jobs. By profession, insurance hit number-two and was beaten only by legal as the most stressful possible job.

Here’s the list:

1.    Legal

2.    Insurance

3.    Healthcare and wellness

4.    Hospitality and food services

5.    Financial services

6.    Education and training

7.    Administrative

8.    Manufacturing

9.    Accounting

10. Human resources

11. Marketing or creative

12. Finance

13. Technology

When it comes to how stress differs from job to job, Robert Half found:

  Semi-skilled or agricultural workers are the most stressed

  Staff level professionals are in the middle of the pack

  Senior executives — believe it or not — are the least stressed

Robert Half and Happiness Works said the things that create stress on the job are:

  Workplace culture

  Leadership

  Workload demands

 

Source links: PropertyCasualty360.com, Carrier Management

Tags:  Employees  Employment  Insurance Content  Insurance Industry  Insurance News  Some Surprises — Employees & Benefits  Two Things: Industry Employment Up & Insurance as   Weekly Industry News 

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Special Report: How to do an Employee Engagement Survey

Posted By Administration, Tuesday, February 14, 2017

O.C. Tanner is a consulting firm specializing in employee production. The firm recently looked at employee engagement survey research and came to some interesting conclusions.

 

The consulting firm said research from Carnegie Management found a lot of employees these days suffer from what it calls “presenteeism.” By definition that is employees working while sick causing productivity loss, poor health, exhaustion and workplace epidemics.

 

Worldwide it costs companies billions of dollars in lost productivity. Thus, the need for the employee engagement survey. Or maybe the need. O.C. Tanner’s researchers had conversations with HR professionals and 48% say they’re not that credible. Another 58% say they don’t actually help managers gain more knowledge of employee behaviors which ought to help with changes to make them more productive.

 

In a blog post for a publication called @Management, O.C. Tanner wrote it’s important to know why — since they’re an integral part of management policies for most companies — the surveys are not working.

 

Part 1

Why They Fail

They’re not comprehensive: “If you want an accurate survey, you should poll everyone in your organization. It’s important to get a census and not just a sample size. This will allow you to understand what is happening not only in each department, but in each position within that department. If you gather insights from every employee in your organization, you’ll be better equipped to help all of them succeed, and your company will advance as a result,” O.C. Tanner concluded.

 

And don’t make that survey too long. You don’t need that much information. O.C. Tanner’s research found that longer surveys bore employees and they tend to disengage at a time when you want them engaged.

 

So less is often more.

 

They’re Irrelevant: Remember the old adage KISS — keep it simple stupid?

 

“If a question won’t give you information you need to make strategic business decisions, don’t ask it! Try to ask specific questions tailored to each individual employee’s role. If employees find that the questions are annoying, too personal, or irrelevant to their position, they’re less likely to answer honestly, if at all,” O.C. Tanner’s post said.

 

They’re not Open-Ended Enough: Closed ended questions are easier for those analyzing data. You know, answers to A produces this conclusion, and B this one and so on. Tanner suggests more open-ended questions and not those that are closed.

 

“Not only will you get a more intimate insight into the mind of each employee, but based on the complexity and time given to complete answers, you may gain further insights into who is most engaged at work. Those who are passionate about what they do typically take the time to give detailed and candid responses,” the company’s researchers wrote.

 

We Don’t Follow Up: This is a survey killer. If you aren’t going to follow up on the survey, why do it? “Not only should you implement positive change as a result of survey responses, you should also use subsequent surveys to follow up on past surveys. If employees don’t see positive change and progression happening because of their willingness to participate in a survey, they’re likely to feel unheard and unlikely to want to give their opinion in the future. Follow through, and follow up,” O.C. Tanner said.

 

So, follow up!

 

 

Part 2

The Solution — New Ways to Track Employee Engagement

The interesting thing about today’s advanced technology is how easily we can do surveys. Maybe a yearly survey isn’t enough? You can do more and target specific areas more easily than ever.

 

Interpersonal Interactions: Make sure your survey is personal and that it reaches people where they live — or in this case, work, so to speak. And such a survey is their voice and they want to make sure their voice is heard.

 

Here’s another novel idea when doing an employee engagement survey: “Speaking to someone face-to-face is typically the best way to understand their feelings about the company and gauge their level of personal engagement,” O.C. Tanner concludes.

 

The comment continues, “With surveys you lose the body language and the more intimate details people are willing to share with a real human that they might not like sharing in a plain, dry survey. Google is one company that does a great job of employing this kind of communication for an evaluation tool. They use people analytics to capture the human factor. After all, humans are your biggest asset, so it’s critical you understand them.”

 

Employee pulse surveys: Give surveys on a regular basis …they need to be short and to the point. Even more critically, they need to be relevant.

 

“Employee pulse surveys are so named because, unlike the annual employee engagement survey, they allow you to keep a real-time pulse on the overall mood within your organization. Knowing where your company stands on a more consistent basis will allow you to make strategic business decisions gradually instead of all at once at the beginning of a new year. This will allow you to naturally adapt to the constantly changing business world of today and maintain a relaxed, yet productive company culture,” O.C Tanner wrote.

 

Real-Time Engagement Surveys: What a novel idea. Aon Hewitt does this and calls it a “Mood Ring” platform. “The service allows employees to respond quickly and give feedback on specific meetings and events from the ease of their smartphone. With short surveys that take very little time and effort as well as actionable insights generated, employees feel more inclined to give consistent feedback,” the company concluded.

 

Part 3

The Results

Regularly engaging employees has a bunch of positive benefits.

 

It Gives a Good Baseline: In other words, regularly engaging your employees and getting their thoughts gives you a consistent idea of their overall passion and commitment to the company.

 

Plus, you know where you stand with your employees and can make quick adjustments.

 

It Can Improve Your Bottom Line: This is one of the best benefits.

 

“Knowing who’s engaged and who’s not can help you know how to start taking steps to keep the passionate ones going and help the weary and distracted become more engaged. It may even help you cut the fat by bidding farewell to employees who aren’t adding value. Getting each employee engaged and enabled will pay dividends. In fact, according to research from Hay Group, ‘Companies in the top quartile on both engagement and enablement achieve revenue growth 4.5 times greater than their industry peers.’”

 

It Helps Keep Good Employees: Yeah, yeah, yeah. Investing in new technology is important. No one disagrees. Having a nice office space and big offices or cubicles is nice, too. But nothing tops investing in employees. It is the most vital step an employer can take that will bring success to a company.

 

“Learning how high the cost of employee turnover can be will help motivate you to regularly monitor and ensure employees are engaged. Using techniques to measure employee engagement more regularly and personally helps not only to identify your best people and understand whether they’re at risk of leaving, but also allows you to act on frequent insight to improve those cultural roadblocks, before it’s too late,” O.C. Tanner wrote.

 

Last — and Maybe Most Important — Take Action: “The annual employee engagement survey is no longer enough. Now is the time to step back and evaluate the way your company is understanding its employees and implementing positive change accordingly. Make regular efforts to keep your employees engaged, but remember that your tactics should change with times and technologies. Don’t get discouraged as you strive to improve,” the O.C. Tanner blog concluded.

 

Source link: @Magazine

 

 

Tags:  Employees  Insurance Content  Insurance Industry  Insurance News  Special Report: How to do an Employee Engagement S  survey  Weekly Industry News 

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Lawsuit on a Possible Industry Problem — Overtime

Posted By Administration, Tuesday, September 27, 2016

A new federal overtime rule goes into effect on December 1st. Employers will be forced to pay overtime to salaried workers making less than $47,500 a year. It’s a drastic change and close to double to today’s $23,660.

 

The Obama administration’s rule is not sitting well with Republicans and with business groups. All are calling it a federal overreach. Critics say it is going to force employers to put more salaried workers into hourly positions. Layoffs are a likely result because salaried executive, administrative, professional and computer employees are now eligible for overtime.

 

Early last week — led by Texas and Nevada and the U.S. Chamber of Commerce — 21 states filed a lawsuit to stop the rule. They’re saying it is going to place a very heavy burden on state budgets for one, and business budgets for another.

 

Speaking for the states and the Chamber, Texas Attorney General Ken Paxton said, Once again, President Obama is trying to unilaterally rewrite the law. And this time, it may lead to disastrous consequences for our economy.”

 

U.S. Labor Secretary Thomas Perez isn’t too worried about the suit being successful. He says the government is on sound legal and policy footing. And as proof, Perez said today only 7% of full-time salaried workers are entitled to collect overtime. In 1975 that figure was 62%. “I look forward to vigorously defending our efforts to give more hardworking people a meaningful chance to get by,” Perez said.

 

The suit contends the U.S. Labor Department overstepped its authority and increased the salary threshold way too drastically. It also believes the department failed to account for the cost of living variables from region to region.

 

Source links: MSN Money, The Hill, Insurance Journal 

 

Tags:  Employees  Employment  Insurance Content  Insurance Industry  Insurance News  jobs  Lawsuit on a Possible Industry Problem — Overtime  Weekly Industry News 

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The Workplace: Hiring & Who Wants to Quit Working Anyway?

Posted By Administration, Tuesday, May 17, 2016

The background checking company HireRight said a lot of potential employees — and probably employees you have on the payroll now — lied on their resumes. Only the company doesn’t peg it as lying. To placate the politically correct, the term used is “misrepresentation.”

 

And those “misrepresentations” — according to the 2016 HireRight Employment Screening Benchmark Report — are usually job history and education backgrounds. The company says of the 3,500 firms they checked in the recruiting, security and management professional arena:

 

  88% said of the resumes they check have misrepresentations

  84% have job history and education credential issues

 

These — HireRight’s Mary O’Loughlin says — would not have been found without a thorough background check. But these days with workers who are increasingly mobile and in a job market that grows more competitive by the day, background checking has become very complex.

 

As businesses invest in expanding their employee base, increasingly looking to non-traditional employees to do so, it is more important than ever that they institute a thorough screening process to bring in the most qualified candidates. Providing a positive candidate experience during this process has lasting implications for employee engagement, retention and, ultimately, a company’s brand,” she said.

 

These are the most popular and used background checks:

 

  89% — Criminal and other public record searches

  77% — Identity like Social Security Number validation and so on

  64% — Previous employment

  55% — Driving records

  50% — Education

 

Businesses are also changing how they do business which also complicates background checks. Contract work and temporary workers are more common now than in the past and 81% of those responding to the survey said they are now doing more screening of this type of worker.

 

That’s close to double the 48% checked five-years ago.

 

Here’s what else they’re finding:

 

  More employers are now screening candidates who have lived, worked or studied abroad.

  19% of those responding say they’re looking at people with non-U.S. backgrounds.

  In 2015 the number was 15%.

  Screening practices are also changing because of relaxed medical marijuana laws.

 

Businesses report having a lot harder time keeping up with their employment needs. A whopping 53% say they find finding, retaining and developing talent a top business challenge.

 

Challenge or not, a lot of businesses are finding they’re able to retain their older, more experienced talent. While the baby boomers are now hitting retirement age, about 20% say they’re still working.

 

When asked about retirement:

 

  27% say they’ll work as long as possible.

  12% say they will not retire at all.

 

The big question is why. A survey from Transamerica Center for Retirement Studies found some answers:

 

  60% say making money and earning benefits is one reason they won’t retire now.

  Over half of those surveyed said they have financial problems and need the money anyway.

  60% have no money in 401(k) or other retirement accounts.

  36% say they are working past 65 because they like their jobs and don’t want to quit working.

 

Addressing those that want to keep working and not just for financial reasons, a study by the Center for Retirement Research at Boston College found those with college and graduate degrees tend to work longer than those without.

 

That’s pretty good news because a lot of employers tend to want their older workers to stick around. Replacing that experience and skill level is not that easy says a different study done by a different group with close to the same name. It’s the Center for Retirement Research.

 

It found in 1985 the highest salaries of a career was earned in your 40s. By 2010 the highest earnings shifted from the 40s to the 50s. Today, all workers older than 50, earn more than they did 25 years ago. And those in their late 60s are making 30% more.

 

One last point … those in their 60s now have more time to do what they want to do. The life expectancy is lots higher than it used to be and if a person takes care of themselves, they can work longer and it won’t cut into their retirement fun.

 

And working — some studies say — keeps a person healthier.

 

Source links: Insurance Journal, Employee Benefit News


Tags:  Employees  Employment  hiringWeekly Industry News  Insurance Content  Insurance News  Jobs  The Workplace: Hiring & Who Wants to Quit Working   work 

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How Insurers will Attract New Talent

Posted By Administration, Wednesday, May 11, 2016

The future of insurance is rosy. But will there be enough workers to make the future truly flower? The PricewaterhouseCoopers 19th Annual Global CEO Survey shows how insurers are working hard to make that happen.

 

The PwC survey compares what insurance company CEOs are doing to CEOs in all other industries. It looked at topics beyond talent management. Questions included: 

 

  Barriers to growth

  Competitive threats

  Business imperatives

  Strategies to keep pace with changing technology

 

Here’s the main question all were asked: What aspects of their talent are CEOs changing to make the greatest impact on attracting, retaining and engaging the people they need to remain relevant and competitive?

Subject
Insurers
All CEOs
Focus on pipeline leaders for tomorrow
53%
49%
Workplace culture & behaviors
50%
41%
Effective performance management
35%
38%
Reputation as ethical and socially responsible
28%
29%
Pay, incentives and benefits
26%
33%
Focus on skills and adaptability in our people
24%
30%
Focus on diversity and inclusion  
23%               
22%
Focus on productivity through automation & technology
22%
16%
Health & well-being of workers & flexible work conditions
21%
22%
Effective global mobility programs
8%               
7%
Use of predictive workforce analytics
7%
4%
Locations of operations
4%
1%

Source link: Carrier Management


Tags:  Employees  Employment  How Insurers will Attract New Talent  Insurance Content  Insurance Industry  Insurance News  Weekly Industry News 

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Insurance & Diversity: Not Doing Such a Good Job

Posted By Administration, Tuesday, April 26, 2016

Diversity is a big deal — everywhere. Even in insurance. But in most cases it isn’t as diverse as its critics see it being.

 

Or at least eventually see it becoming.

 

A recent report from McLagan — an independent subsidiary of Aon — came up with some not so shocking statistics about insurance diversity. To no one’s surprise, on average 85% of the executive leadership of public companies is male. For the mutual firms, that figure is 10% lower at 75%.

 

But it’s still high.

 

And 98% of stock company execs are white and the Caucasian figure at mutual companies sits at 93%.

 

Oh, and the employees of insurance companies and the executives of insurance companies tend to be older. That’s defined as over 45.

 

The study’s author is Kaitlyn Isley. She’s a senior analyst for McLagen and said diversity has been on the minds of insurance leaders for a long time. At different conferences and roundtables, diversity was a forefront topic, and companies were trying to discuss how to bring diversity into the insurance industry. We did it to shine some light and give some [perspective] to human resources and compensation people,” she said.

 

The table at the end of this article is from surveys done with 65 insurers of which 50 are P&C insurers. And — as noted earlier — to no one’s surprise, the industry is not very diverse.

 

But 6% of the companies taking part in the survey said they realize that and have hired a chief diversity officer. Another 7% admit to not having one but say the intention is to put one to work sometime in 2016.

 

Close to half of those not having diversity officers say they do have plans to diversify and if they don’t already have one written, one is being written or soon will be. The chief diversity officer is not a common job ye. In the coming years, it will be. But as of right now, most companies are not necessarily addressing the issue,” Isley said.

 

Here are the totals from Isley’s survey. You will find them fascinating but — again — not surprising. And again, the survey was done with 65 insurance companies and 50 of them are property and casualty insurers:

Stock Companies
Male Female
Executive management 85%
15%
Senior leadership
69%
31%
Manager
54% 46%
Professional
47%
53%
Trainee
46%
54%
Administrative
17%
83%
Total employees
45% 55%
     
Mutual Companies Male Female
Executive management 74%
26%
Senior leadership 67%
33%
Manager
48%
52%
Professional 42%
58%
Trainee
47%
53%
Administrative 14%
86%
Total employees 41% 59%

 

Stock Companies
Caucasian
Hispanic
African American
Asian
Multi-racial
Executive
98%
2%
1%
1%
0%
Senior Leadership
91%        
3%
3%
2%
1%
Manager
91% 2%
4%
4%
1%
Professional
83%
5%
6%
5%
1%
Trainee
80%
6%
6%
6%
2%
Administrative
72%
10%
13%
3%
2%
Total employees
83%
5%
7%
4%
1%
           
Mutual Companies
Caucasian
Hispanic
African American
Asian
Multi-racial
Executive
93%
1%
2%
3%
1%
Senior Leadership
88% 1%
4%
6%
1%
Manager
87%
3%
4% 5%
1%
Professional
82%
4%
7%
6%
1%
Trainee
76% 4%
11%
8%
1%
Administrative
73% 7% 14%
5%
1%
Total employees
83%
4%
7%
5%
1%

Stock
Under 25
25-34
35-44
45-54
55-65
Over 65
Executive
0%
2%
9%
41%
36%
12%
Senior Leadership
0%
4%
21%
42%
30%
3%
Manager
0%
9%
22%
25%
27%
3%
Professional 3%
22%
25%
27%
20% 3%
Trainee
41%
38% 3% 16% 2% 0%
Administrative
6%
22%
18% 26% 23% 5%
Total employees
3%
19%
23%
30%
22%
3%

 

Mutual Companies

Under 25
25-34
35-44
45-54
55-65
Over 65
Executive
0%
0%
5%
43%
43%
9%
Senior Leadership
0%
3%
19%
45%
27%
6%
Manager
0%
9%
26%
39%
24%
2%
Professional 2%
20%
25%
30%
21% 2%
Trainee
47%
37% 6% 8% 2% 0%
Administrative
6%
18%
18% 30% 24% 4%
Total employees
3%
16%
21%
30%
26%
4%

 

 

Source link: Carrier Management


Tags:  diversity  Employees  Insurance & Diversity: Not Doing Such a Good Job  Insurance Content  Insurance Industry  Insurance News  Weekly Industry News 

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Your Employees: 1 in 4 will Share Sensitive Company Info

Posted By Administration, Tuesday, April 19, 2016

SailPoint is a user access management firm. It did a study with 1,000 employees from several organizations that have 1,000 employees or more. They represent six industrialized nations — the United States, the United Kingdom, Germany, France, the Netherlands and Australia.

 

The companies surveyed varied in size with 45% having more than 10,000 employees. And 30% had between 1,000 and 5,000.

 

The results of the study are disconcerting:

 

  85% say they’d be upset if their personal information stored by their employer was breached.

  Yet, 20% would sell their password to an outsider.

  And of those, 44% said they’d do it for less than $1,000.

  It gets worse. Just over a quarter — 26% — say they’ve uploaded sensitive data to a cloud app with the intent of sharing it outside the company.

  Of those surveyed 26% worked in finance.

 

Here’s what else the study found:

 

  65% of the employees say they use a single, or the same, password for all applications.

  A third of employees say they tell other employees their passwords.

 

It gets worse.

 

  40% say they have access to corporate accounts and data after termination.

  The average in the U.S. for this is 48%.

 

SailPoint President Kevin Cunningham said,Today’s identity governance solutions can alleviate the challenge of remembering several passwords and automate IT controls and security policies, but it’s imperative that employees understand the implications of how they adhere to those policies. It only takes one entry point out of hundreds of millions in a single enterprise for a hacker to gain access and cause a lot of damage.”

 

Source link: Carrier Management


Tags:  Employees  Insurance Content  Insurance Industry  Insurance News  Jobs  Weekly Industry News  Your Employees: 1 in 4 will Share Sensitive Compan 

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