Workers Comps Future – Recruiting/Retaining Next Generation

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Workers Comps Future – Recruiting & Retaining the Next Generation of Claims Talent

The Workers Comps future rests on the next generation of claims talent.

Picture Of Three Woman Workers Comps Future Looking Up
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Jennifer Burkhart | National Workers’ Comp Claims Leader, Westfield Insurance

Dan Holden | Manager of Corporate Risk & Insurance, Daimler Trucks North America

Rick Thompson | VP of Talent Management & Administration, Rising Medical Solutions

November 12, 2015 2:00pm – 3:15pm

*The title may seem incorrect.  The WordPress system does not like apostrophes.   Please excuse the odd-sounding phrase.

This NWCDC Session was PM5 from the Program Management track.  I decided to attend this one as this subject was one of the major concerns at the Rising Medical Think-Tank from earlier this year.

One of the better slides during this session pointed out how offices were 10 years ago.

 

  1. No cell phones while at work.
  2. Business formal dress code.
  3. Very little schedule flexibility or work from home.
  4. People Workers Comps Future Having Meeting
    123RF

    Employee handbook over 100 pages.<<<Actually a conservative figure

  5. Annual reviews (quarterly today, with daily huddles and weekly touch-bases).
  6. Less than 10% of workers were Millennials (today it’s over 50%).
  7. One computer desktop/screen. Few laptops. No smartphones or tablets.
  8. Virtually no online collaboration (email document-based).

The session centered very heavily on appealing to Millennial generation workers.  One statistic that was shocking to me was the workforce now being 50% Millenials.

 Millennial Challenges

  • They don’t know/care about insurance/risk management (not “sexy” or fun). That is actually a given.
  • Loyalty/commitment (high turnover).  This was occurring in the industry long before Millennials were on the scene.
  • Talent shortage of 85,000 commercial claims professionals in 2015 (Deloitte). Expected to grow to 400,000 in five years (Insurance Journal).
  • WSJ – Insurance on “least desirable industries” list.

Until this session, I did not realize the insurance industry is and will be experiencing such a heavy shortage of workers.  The shortage reaching almost 1/2 million workers total is astounding.

The rest of the session covered how each respective company is recruiting, training,  and retaining the millennial generation.    This was a great session that “looked outside the box” so to speak.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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