LeadersCove has announced a specialized operations and HR service line to help insurance technology companies manage the development, advancement, and retention of key talent.
After several years of challenging employment conditions, the demand for qualified IT resources is increasing in response to recent market improvements. Employment experts predict 2010 to be a growth year for insurers in both revenue and staff.
"Technology companies that serve the industry are walking a tight wire," says Julia Hill-Nichols, founder of LeadersCove. "On one hand, they need to closely manage their costs, but their future success requires they continue to develop technologies that effectively and efficiently support the growth of the insurance industry."
Technical staffing, especially for property/casualty insurers, will continue to be a challenge, indicates Hill-Nichols. The insurance industry is losing, and will continue to lose, those baby boomers who possess deep domain knowledge. After a number of lean years, the industry has begun to increase its investment in talent development, but the knowledge gap between the baby boomers and Generation Y is broad.
Hill-Nichols believes business leaders need to focus on four things:
? Investing in the advancement of emerging talent and its opportunities to lead
? Understanding and identifying the key talent requirements, both immediate and over the next three years
? Effectively engaging in the global economy–through partnerships, market development, and human resources
? Developing a more customer-centered culture, both internal and external, with a strong value of accountability
The 2010 landscape requires companies to become adept at scenario development, positioning for business growth, and changing needs. Hill-Nichols explains LeadersCove partners with business leaders to create executive teams that have the skills and commitment to lead through the tough times and to develop managers and front-line supervisors who have the ability to motivate their teams and deliver on objectives.
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