Culture eats strategy for breakfast: Why insurers must take note of Peter Druckner’s adage

Culture eats strategy for breakfast: Why insurers must take note of Peter Druckner’s adage

2021-04-20 12:30:00
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In a recent & # 39; Ask Bill Anything & # 39; webinar, Pieroni discussed the idea of ​​& # 39; high skills, high will talent, 'which he believes is directly related to the kind of empowering culture that can really eat a breakfast strategy.

“There are a number of ways to segment talent – tenure, attitudes, readiness for change, psychography, demographics – but at ACORD [with more than 36,000 insurance members worldwide] we have found through countless studies the most impactful and useful ways to segment colleagues & # 39; s really looking at the dimensions of skill and will, ”said Pieroni.

“When we talk about skill, we mean the ability and competence of an organization, a team and an individual to execute and achieve goals and objectives. Will – the underlying motivation – of the company, the team and the individual, really looks at how motivated they are. Incidentally, ACORD studies have shown that the best measure of employee motivation is whether colleagues spend their free time or not. Are they not there because they have to be there, but because they want to be there and because they are the importance of there? "

Read next: Why doesn't ACORD CEO Bill Pieroni like price competition?

The CEO went on to describe four quadrants: one, with high skill and high will, which he said is "the ideal place to be"; the second, with low skill and high will; a third, with high skill and low will; and the fourth quadrant, which no one wants, with low skill and low will.

"High skill, high will [is] where you are colleagues, teams or groups of individuals who are highly motivated and they know what they are doing," explained Pieroni. “High performers want three things: they want to be measured, they want to have an impact and they want to be relevant. To support colleagues in that quadrant of high skill, high will, it is important [for insurance organizations] to have explicit measures communicated, [so employees] understand that they have an impact and that it matters that she & # 39; are there. "

The low skill, the high quadrant, "isn't necessarily a bad position to be in," said Pieroni. These employees, while they may not have the capacity or competence to achieve specific goals, are highly motivated and are therefore likely to participate in training and talent development. Insurers investing in employee training and support will not only strengthen their culture, but they will also increase the capacity and competence of their workforce, which is key to the success of the organization.

Read more: Evolve or fall short, says ACORD CEO

"High skill, low will – these are people and teams that know what they are doing but are not necessarily motivated and certainly don't give free time," added Pieroni. "This can be tricky because there is no way to re-engage [a demotivated employee]. Nobody starts a job who hates it and dreads going to work. We all start with a lot of enthusiasm, but there is a plateau that people can reach. Trying to understand what demotivates someone – and there is a big difference between what motivates and what demotivates – and getting someone back involved is very difficult. "

Finally, the low skill, low will quadrant is near dead weight. These are individuals who do not have the capacity or competence to do their job well, and they are not motivated to learn and acquire the necessary skills. Pieroni noted, "Unfortunately, it often requires those colleagues to get out, because it often just takes an insurmountable amount of investment time and resources to actually change that."

Bringing this back to how culture eats strategy at breakfast. Insurance organizations with a strong and empowering culture are more likely to attract and retain talent in the high skills, high will quadrant, which in turn is likely to lead to strategic and operational excellence.


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