Workforce management challenges are inevitable for any organization. While hiring can be daunting, engaging and retaining associates are also equally as critical. In our extensive experience in insurance workforce management, we have successfully addressed these issues through focusing on what we think is important: people, development, and a positive workplace culture.

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Hiring Challenges

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According to the SHRM Talent Trends Survey 2024 [1]:

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• 60% of respondents cited a low number of applicants.

• 40% mentioned candidates lacking necessary experience as hiring obstacles.

 

Increasing candidate sources is essential, but how best to do it will vary by organization. While opening the candidate pool to out-of-state candidates would be an easy option, this is not always feasible. Our experience shows us that developing good hiring practices can also broaden the candidate pool. Our philosophy is that skills and knowledge can be taught, but ambition, aptitude, and cultural fit cannot.

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Hiring Practices

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At Fuzion, we use behavior-based questions and include a designated culture team during the interviewing process. We have the perspective that behavior-based questions provide insight into a candidate's past actions which can predict future performance and company fit, helping to assess how candidates will handle new roles and coworkers. Our culture team is composed of current Fuzion associates from different functional areas and focuses on getting to know candidates beyond work-related questions. This broader-based interviewing practice allows candidates to make an informed decision about whether the culture is a good fit for them and for Fuzion associates to assess if the candidate is a good fit for the company’s culture.

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Internal Candidate Development

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An often-overlooked candidate source already exists within the organization. Implementing a succession and development plan for current associates ensures they grow in their roles, support the company, and are prepared for future opportunities. A comprehensive succession and development plan should also include training on trending technology advancements and activities or projects that will help put these technologies to use. When internal job opportunities become available, candidates who have taken advantage of development opportunities will be more likely to be ready for a new role.  This approach also boosts engagement and retention.

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According to Gallup, the second most common reason employees seek new jobs is a lack of education and advancement opportunities. [2] Focusing on the people and providing education and growth opportunities not only fills vacant positions but also ensures associates are engaged and up to date with innovation and technology, which is key for retaining a high-performing workforce.

 

Retention Solutions

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Fuzion has great success in retaining associates, but we are mindful that retention of associates is more critical than ever based on recent startling statistics:

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• Bloomberg reported in February that retirement was up 80% over six months. [3]

• Gallup found that 51% of employees are watching for or actively seeking a new position. [2]

 

We may not be able to influence the retirement rate, but we can influence the retention of associates. After compensation and education, engagement and culture rank significantly high in impacting retention. Fuzion's viewpoint is that retention starts during the onboarding process. We have implemented a robust onboarding program and begin engaging new associates before day one with frequent contact and interactions.

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Once onboard, the company utilizes in-place technology to ensure the new hire has the necessary tools to succeed while also integrating new hires into the culture through regular touchpoints and cross-department meetings with other associates. It’s also important to  continue to regularly engage associates throughout the year with team-building events, wellness activities, affinity groups, and more.

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Building A Positive Culture

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The engagement of the entire organization drives a company’s culture. It is not a top-down development but a collaborative effort. Our philosophy is that engaged associates help develop the culture, and implementing associate listening techniques ensures the organization is on track. Annual and pulse surveys provide a good source of information on how associates view the culture. However, to ensure a positive culture an organization must not only listen, but also act and report.

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Staying Competitive

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A strong partnership between the Human Resource department and management team, as well as embracing changing technologies, is key to developing successful solutions to address workforce challenges. Education through conferences and online webinars, such as those offered by the Society of Human Resource Management (SHRM) and the International Claim Association (ICA), is essential. Staying on top of workforce management challenges and trends is crucial to ensuring the organization remains relevant and competitive.