Great Business Requires Great People

GREAT BUSINESS REQUIRES GREAT PEOPLE

by Emily Huling

Great corporate leaders such as Jack Welch, former CEO of General Electric, Lou Gerstner, former Chairman of the Board of IBM, and Microsoft’s Bill Gates all credit the success of their companies to one major factor — people. They’re right. It’s the people on the front lines who make the business happen. But credit for developing the people and creating the environment and culture falls squarely on the shoulders of the day-to-day leaders and managers of the organization. Here are five strategies to get you where you want to be.

1. MAKE SURE YOU HAVE THE RIGHT KIND OF PEOPLE

This might mean eliminating some staff who don’t meet your 'best employee' criteria. Building the right staff takes hard work and willingness to look outside the insurance industry. Your recruiting success depends on knowing what qualities and skills are needed for each position. Consider these three areas:

• Attitude and personality. Observe closely the spirit of the individual. Are they upbeat, positive, and outgoing? Do voice and body language exhibit interest and enthusiasm for the job?
• Education and intelligence. A person without insurance experience needs to have skills that can be transferred to the position. Attention to detail, organizational skills, and the ability to solve complex problems are needed to succeed in our business.
• Communication skills. Verbal and written communication skills are critical for success. Conduct the proper pre-offer testing in order to determine at what level your candidate performs.

So where can you find potential hires? Check out other professional advisory businesses such as banking and finance, teaching, and people in the hospitality and restaurant industry. Generally people with these career backgrounds are customer focused and have above-average communication skills.

As always, follow the proper legal interview guidelines during the recruiting and hiring process.

2. CREATE A LEARNING ENVIRONMENT

In 1984, Fortune magazine named Jack Welch the 'Toughest Boss in America.' In the prior five-year period, he cut 118,000 people from GE’s payroll and pared additional costs by closing uncompetitive factories and selling unprofitable businesses. At the same time Welch was investing millions of dollars renovating the corporate headquarters and upgrading its Crotonville management development center. These moves generated some harsh criticism.

But he knew what he was doing. Finding and developing good people were needed to turn GE around. It was a long-term commitment that paid off.

Today you don’t need to build an entire management training or learning center. People can learn online, with CDs or videos, through instructor-led sessions, and on-the-job cross training. What’s important is that education offerings are broad. Include product and coverage, insurance operations and workflow, customer service, and technology. Create a curriculum. Find outside experts or willing experienced staff who can bring knowledge and interest to the subject. Involve as many as possible in the teaching and require everyone to participate in the learning.

3. ENCOURAGE PEOPLE TO HELP PEOPLE

Mike Krzyzewski, long-time winning basketball coach of the Duke Blue Devils, is a master of this concept. In his book, Leading with the Heart, Coach K talks about his team development strategies. One of his techniques is simply to put a talented freshman player’s locker next to one of his star senior’s lockers. Then, in casual conversation with the Duke senior, the coach says something like 'You’ll make sure this new player fits in, won’t you?' The die is cast and before long the seasoned player has taken the new recruit under his wing, not only in basketball, but in other aspects of college life. Like Coach K, the best managers build their team by encouraging coworkers to help coworkers.

4. PROVIDE FEEDBACK EVERY DAY

Don’t confuse feedback with micromanagement or limit it to comments on specific job performance. Feedback involves a two-way discussion with associates on what’s going on with their clients and their companies. Conversations can be held in the parking lot, bathroom, hallways, and lunchroom. By opening discussion, managers learn things they wouldn’t know otherwise. A simple 'How’s it going with our new underwriter at XYZ Company?' or 'Have you spoken with Joe Smith at ABC Manufacturing recently?' will give managers an opportunity to listen, learn, and be supportive.

In addition, management’s interest and solicitation of opinions helps fuel enthusiasm and commitment. By practicing 'one-minute management' techniques (read The One-Minute Manager by Ken Blanchard and Spencer Johnson if you haven’t), communication can flow easily and the individual’s confidence and performance will improve.

5. LET PEOPLE SHINE

Giving people the opportunity to strut their stuff increases self-confidence and morale and improves client relationships. The 'stuff' I’m referring to is the skills and abilities people do well. It might be working on complex accounts, data entry work, or bringing in new business.

Allowing people to shine might require changing preconceived ideas about job positions and tearing down boundaries between departments. For example, your ace Small Commercial account team leader might be the perfect person to set up your new small group benefits department. Look closely at what people do well and give them the opportunity to grow personally and professionally.

By helping your people become more successful, your business will become more successful — a win-win for all!