Retaining top talent

October 13, 2023

Share on LinkedIn Share on Facebook Share on X

According to the Pew Research Center, millions of Baby Boomers are retiring each year — leaving critical gaps in the U.S. labor force. In this podcast, Katey Bey, head of global total rewards and Josh Smith, head of Americas CR & global head of talent, weigh in on burnout in the workplace, professional development opportunities, retaining talent and more.

Pressure-proofing the workforce for 2023

March 20, 2023

Share on LinkedIn Share on Facebook Share on X

Though the workforce upheaval sparked by the COVID-19 pandemic and other global factors has begun to subside somewhat, employers will surely continue to feel tremors in 2023 and likely beyond. Seismic business, social and political shifts are still shaking organizational foundations. The ongoing war for talent means staffing problems for employers and resulting employee burnout. Consequently, forward-thinking organizations are rethinking some of their employment models and strategies to support their workers and maintain productivity.

The experienced are exiting

In 2021, 48 million people left their jobs in the U.S. alone. In 2022, an additional estimated 20% did the same — and many aren’t returning. In some industries, such as construction and retail, periodic job losses are expected; but this specific job exodus is predominantly among skilled workers, especially in the service industries (financial activities and business and professional services being the two categories with the highest talent shortages, according to the U.S. Chamber of Commerce).

Notably, attitudes about work are evolving. The pandemic and its related physical and mental health issues finally pushed legions of employees to reprioritize their approach to work and to rethink work-life balance. While protecting workers from overwhelming job demands, it has carried a cost for employers. According to the U.S. Bureau of Labor Statistics, productivity fell during the first two quarters of 2022. Many analysts believe that disengagement, fueled by various factors, was a pivotal contributor to the decline.

Another issue impacting employers’ productivity and operations is employee stress claims arising at an all-time high. According to Gallup’s State of the Global Workplace: 2022 report, 44% of U.S. employees experienced “a lot of daily stress” the previous day — a stat that represents one reason why mental health claims are increasing globally.

A fresh approach to talent management

Whatever the impetus, employers are seeking a path to solid ground for both their organizations and their employees — and they must in order to remain competitive. Gallup’s study also reports that well-being has become the new workplace imperative to fight descending recruitment and retention trends.

One innovative strategy for tackling challenges — from productivity to engagement to mental health — is adopting resource or staffing management solutions, which are designed to support organizations through workload peaks and employee absences/leaves. Many employers in the insurance industry already consider resource solutions during catastrophes or surges, such as when claim volumes increase exponentially after a natural disaster occurs.

But just as an organization might deploy resource solutions during a catastrophe, it’s time to make that option the norm in managing employee burnout and improve engagement and productivity. A smart workforce management strategy can fill gaps, offset demands, minimize the burdens pressuring existing employees and counter emerging challenges. It can provide more bandwidth to support targeted initiatives such as business transformations and mergers and acquisitions.

Resource solutions offer an array of opportunities

A resource solutions program assures a ready pool of experienced and vetted workers, ensuring that a skilled team can step in quickly to perform tasks or even help train existing employees. These colleagues can fill any role an employer may need — for as little or as long as needed — from payroll, auditing and adjusting, to customer service, clerical and other vital functions.

Whether it’s an insurer that needs loss adjusters following a natural disaster in Australia, or an administrator that needs a forensic accountant to serve a fraud prevention program in Florida, employers no longer need to burden their at-capacity workforce with more stress. Instead, a resource management partner can rapidly fill those positions and assume those responsibilities.

With some professionals opting out of traditional jobs and leaning into the gig economy, shortages of available talent interested in full-time work are making it difficult to find new hires. Resource solution programs can help with this, too: Strong partners can help employers look at these challenges through a fresh lens, act as a resource for training and development, and support employees in managing the pressures of modern work. The result is innovative talent solutions that enable organizations to meet their goals, while protecting their most valuable asset: their people.

2023 won’t be business as usual

While much uncertainty remains regarding the global marketplace and workforce challenges, we can make a few predictions: The employment market will remain tight, employees will continue to experience stress and anxiety, and productivity and engagement strategies will be vital to employers’ success.

To help manage the uncertainty of today’s market, one strategy is to establish strong partnerships with solution providers who function as much more than staffing agencies; they become an extension of their clients’ operations. Strategic partnerships enable companies to augment their offerings, fill in gaps in expertise and infrastructure, and leverage talent in ways that yield a whole greater than the sum of its parts.

Learn more — check out an expanded version of this article in Sedgwick’s digital magazine, edge, issue 20, or contact Joanne Sloper, head of recruitment and resource solutions, at [email protected], for details on Sedgwick’s resource solution offerings

Continuing education seen as a “must have” among employees

February 7, 2023

Share on LinkedIn Share on Facebook Share on X

Supporting an atmosphere of learning by offering ongoing professional development opportunities enables employees to keep their skills sharp, gain new proficiencies, and enjoy personal and professional growth.

For employers, providing access to corporate universities, tuition assistance benefits and mentorship programs is seen as a win-win for their employees and the business. In this podcast, we are joined by Mara Petrovsky, SVP of colleague experience and Josh Smith, head of global talent management who share how Sedgwick is supporting growth and development for colleagues around the world. To listen, click here.

Kick off to WCI 2022

August 18, 2022

Share on LinkedIn Share on Facebook Share on X

By Max Koonce, chief claims officer

The Workers’ Compensation Institute (WCI) will celebrate the 76th Annual Workers’ Compensation Educational Conference and the 33rd Safety & Health Conference in Orlando, Florida August 21-24.

An array of stakeholders representing all facets of the industry will once again begin a dialogue and exchange ideas about how to improve workers’ compensation systems and the injured employee experience. As in years past, Sedgwick will play a prominent role at this event — highlighting some of the industry’s most advanced solutions and concepts within the workers’ compensation arena.

Giving back

Join us Saturday, August 20 for a volunteer day and gala to support Give Kids the World (GKTW) Village, an 89-acre, nonprofit “storybook” resort in Central Florida where children with critical illnesses and their families are treated to weeklong, cost-free vacations. Last year, even amid the COVID-19 pandemic, the WCI community continued its ongoing support of GKTW. Under Doug Clark’s leadership, WCI volunteers and donors raised over $125,000 during the WCI 2021 service day, silent auction and gala. Tune in Monday to hear Doug announce the fundraising results for 2022.

Opportunities to embrace, elevate and expand your view

Throughout the educational sessions, Sedgwick leaders will cover 13 topics — from advancing medical care and streamlining claim processes to addressing pain management and talent concerns. The lineup includes experts like David Stills, Teresa Bartlett, Michelle Hay, Jeff Ziblut, Andrea Buhl and more. A packed house is especially expected for the Monday morning keynote about the battle for talent hosted by Sedgwick’s own Kimberly George and Safety National’s Mark Walls. And with talent on your mind, be sure to register for The Alliance of Women in Workers’ Compensation workshop on Wednesday morning for insight on cultivating a strong culture and talent management strategy. Find us at booth #803 in the exhibit hall to connect with leaders throughout the conference.

We’ll see you at the conference, but until then…

  • Catch up on the latest edge magazine articles.
  • Follow Sedgwick on LinkedInTwitter and Instagram for live updates.
  • Search #WCI2022 to explore what’s trending on social media the week of the show.

Every step of the way, we’re here to help you embrace, elevate and expand your view. See you next week, Orlando!

The war for talent: attracting the Gen Z workforce

April 28, 2022

Share on LinkedIn Share on Facebook Share on X

By Michelle Hay, global chief people officer, Mara Petrovsky, SVP colleague experience and Josh Smith, head of global talent management

Among the most talked-about topics in human resources today is the “war for talent.”

Organizations in every sector are struggling to attract and retain employees for critical positions as they feverishly plan for operating in a post-COVID world.

From an employer perspective, the talent landscape is more competitive and complex than ever before. A number of interrelated factors — some, but not all, of which were brought on or intensified by the pandemic — have created a perfect storm for those looking to hire. To name just a few:

  • Increased workforce mobility has led to high levels of departures and turnover; long gone is the expectation that employees will stay in one place for the duration of their careers.
  • Many workers are reconsidering their priorities and attitudes toward work/life balance. In particular, family care needs have sparked a heightened demand for job flexibility and autonomy.
  • The normalizing of remote work arrangements has opened the door to new career opportunities, with knowledge workers now able to explore positions previously outside their commuting range.

Many employers are banking on Gen Z — those born between 1997 and 2012 and the latest generation to enter the workforce — as the answer to their talent challenges. However, the ability to attract and retain Gen Z workers is not a foregone conclusion. With the job market currently favoring the employee, organizations need to be savvy and intentional in their efforts to secure Gen Z talent and stand out from the competition.

What is Gen Z looking for?

Research consistently shows that members of Gen Z want more than “just a job.” Understanding what makes these younger workers tick is critical to attracting and retaining them.

  • Connection: Gen Z workers crave a genuine sense of belonging. Many look to the workplace (whether in-person or remote) as an outlet for meaningful socialization and a welcome break from superficial interactions on social media. They’re also seeking mentorship from managers and other experienced colleagues as they develop their professional skills.
  • Growth: Career potential is top of mind for many Gen Zers. A learning and development culture is important to early-career professionals who want to grow personally and professionally. Beyond formal training programs, many are looking for continuous feedback; regular dialogue on performance will likely be more meaningful to a Gen Z employee than an annual review.
  • Purpose: According to a recent study, Gen Z is the first generation to put purpose above salary. They want to feel good about their work and to use their energy and talents to make the world a better place. To remain competitive in the war for talent, organizations will need to artfully tell their brand stories (and back them up), demonstrate how what they do makes a difference in people’s lives, and connect the work of individual employees to the greater purpose.
  • Values: In a similar vein, Gen Z workers are looking to be part of organizational cultures founded on belief systems that align with their own. The ability to attract and retain young talent is one of many reasons that companies are sharpening their focus on environmental, social and governance (ESG) and actively demonstrating authentic commitment to their core values.
  • Diversity, equity and inclusion (DEI): Gen Z brings greater diversity to the workforce than any generation before them, and they want to know that employers value their uniqueness. They seek to bring their authentic selves to work each day and look for organizations that embrace diverse talent, foster inclusion, and offer everyone fair and equitable opportunities.
  • Caring: The Gen Z workforce wants employers to meet them where they are and to exhibit empathy in their people practices. They’re looking for job benefits that holistically address their physical, mental, professional and financial wellness. They also want managers who are understanding of their demands outside of work and provide the flexibility to accommodate them.
  • Stability: Many Gen Zers are old enough to have experienced the Great Recession of 2008, and they recently witnessed the economic uncertainty brought on by COVID. They value jobs that offer long-term security and sustainability as they work to establish themselves as professionals.

A prime opportunity for our industry

Even before the upheaval of the pandemic and the so-called “Great Resignation,” the insurance and claims industry faced a looming talent crisis. With an aging employee demographic heading toward retirement, a spike in catastrophic events like natural disasters and increasing demand for specialized claim investigations and other services, insurers and industry providers must do more to promote our exciting and enriching career paths and to attract Gen Zers to our many available job opportunities.

The good news is there’s no real barrier preventing insurance industry organizations from fulfilling all of the Gen Z expectations listed above. As an example, we at Sedgwick are driven by our caring counts philosophy to provide a world-class colleague experience centered on connectedness, well-being and growth. These three pillars are at the core of our attraction and retention efforts, particularly among the Gen Z population. Companies that commit themselves to offering a strong employee experience and telling their stories in ways that effectively reach younger candidates have every reason to succeed at attracting members of Gen Z to their workforce.

To learn more about Sedgwick, our caring counts approach and our available career opportunities, visit www.sedgwick.com/careers.

Sedgwick appoints Tracey Harris as chief operating officer in Australia

January 19, 2022

Share on LinkedIn Share on Facebook Share on X

SYDNEY, 20 January 2022 – Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has appointed Tracey Harris its chief operating officer in Australia.

As in-country COO within our expansive property and professional services business, Harris will also play a pivotal role in launching Sedgwick capability advancement and workforce absence and compensation programs in Australia.

Harris brings to Sedgwick over 20 years of C-suite leadership experience working in the insurance, health and aviation verticals in Australia and Asia, as well as in emergency assistance within the public, private, not-for-profit and government sectors. Throughout her career, she has led comprehensive technology, optimization and talent campaigns, in addition to having led numerous other large-scale transformation and automation initiatives. She holds both an MBA and a master’s degree in financial management from Bond University.

“Tracey is a true leader in the industry, with many years of experience driving companies’ digital and claims performance transformation strategies,” said Diego Ascani, Sedgwick CEO in Australia. “We are excited to welcome her to the Sedgwick family, where we know her impressive track record of results and empathy will help us serve our customers with a people-first mindset.”

In addition to supporting Sedgwick’s technological advancements, Harris will play a vital role in talent and performance strategies to support the company’s continued growth. As claims professionals navigate both remote and mobile work environments, Harris will help the company expand new, state-of-the-art learning methodologies, like those offered by Sedgwick University, to prepare a qualified, skilled and scalable workforce to meet the challenges of the evolving industry landscape.

“The claims space is undergoing a revolutionary transformation in the way we operate,” said Ian V. Muress, Sedgwick CEO, international. “As we look towards the future, we know that strong leadership will be key to developing our network of claims professionals looking to make a meaningful difference in their work. We are proud to bring on a dedicated leader in Tracey, as we know she will develop an even more impressive, first-class group team in Australia.”

“Working with a global industry leader like Sedgwick is an amazing opportunity,” Harris said. “The company is at the forefront of industry and customer led innovation while simultaneously adhering to the ‘caring counts’ mentality that is core to Sedgwick’s DNA. I cannot wait to dive into this new role to help our customers and clients and collaborate with some of the industry’s leading claims professionals as we work to better the lives of others.”