The document discusses talent management and succession planning in the European insurance industry. It conducted interviews with senior executives from 15 leading insurance companies. It found that while companies recognize the importance of talent management and succession planning, there is often a gap between intentions and reality. Many have implemented formal processes in the last five years. Approaches include prioritizing succession planning for top executives, building programs for high-potential middle and junior employees, and identifying talent across the organization. Companies differ in how they categorize and develop high-potential employees. Successful programs nurture talent from junior to senior levels and prepare future leaders.
Logistics Executive Group - ceo executive series - march 2015Darryl Judd
This document summarizes an article on the rise of coaching in executive development. It discusses how over 63% of logistics professionals have never been offered coaching but 85% would be interested. Executive coaching involves the executive, coach, and organization working together towards goals. Coaching focuses on developing the executive's capabilities to help achieve organizational goals. The document then provides examples of how executive coaching is being used successfully in organizations to develop leaders' skills and empower them to think strategically.
Managing talent is no longer an episodic exercise. Leading companies are taking a holistic view, from building their employer brand, to attracting new people, to developing their best people, to crafting succession strategies. Korn Ferry can deliver all this and more through a consistent methodology, IP framework, and global team of experts.
This guide provides the definitive list of Korn Ferry’s integrated talent solutions. It includes information on what each of them does and how we can use them to meet your organization’s unique needs.
Professional certification is a common practice in all types of industries worldwide. It signifies an individual’s knowledge and expertise to employers, peers and clients. It also helps in defining and maintaining industry standards.
This guide offers a high-level information about HR Certifications available in the market. It is intended to help HR professionals to find out about certifications in specific fields.
All the certifications mentioned in this guide require some sort of assessment to be obtained, hence, mere attendance of a training course is not enough to get certified.
Leighton Partners provides executive search and talent acquisition services globally. They offer both contingent and retainer fee structures depending on the position urgency. Contingent fees are paid only if the candidate is successfully hired, while retainer fees involve an upfront portion with the balance due on hire. Leighton Partners sources candidates through their database, advertising, and industry networks. They conduct an in-depth qualifying and interviewing process before presenting candidates to clients.
Developing leadership skills; winning employee engagement public program cour...iTrainingExpert
This 2-day training program aims to help managers identify drivers of employee engagement and build a culture of engagement in their organization. The program will cover understanding engagement, alignment between employees and organization, identifying engagement drivers, developing persuasive influencing skills, and creating an engaged workforce. Participants will learn practical techniques to foster engagement across different generations through activities, case studies, and role plays led by the experienced trainer Philip Tan.
The document discusses the need for integrated talent strategy functions in organizations. It argues that talent management has evolved into a decision science guiding how organizations define, attract, develop, and retain talent. An effective talent strategy can help organizations answer key questions about talent risk, succession planning, capability requirements, and developing a long-term talent pipeline. By linking talent development to business strategy and assessing both current and future potential of executives, a talent strategy function can help close capability gaps and ensure an organization has the right talent to execute its strategy.
Skillworx provides tailored training courses to meet clients' unique needs, both at clients' premises and in open public courses. Training programs are designed based on learning styles and ensure skills are replicated on the job. A wide range of topics are covered, including management, leadership, communication, and specific skills. Modular programs can be customized to meet individual or business needs. Highly skilled facilitators use practical methods to ensure learning is processed and implemented.
AMAD Holding Group was established to create an integrated investment management entity targeting different sectors and areas locally and globally. The group offers investment services based on developing wealth through investing in multiple sectors and leveraging efficiencies and specialized human resources. The vision is to develop and ensure sustainability of investments while the mission is business development using the best human competencies.
Logistics Executive Group - ceo executive series - march 2015Darryl Judd
This document summarizes an article on the rise of coaching in executive development. It discusses how over 63% of logistics professionals have never been offered coaching but 85% would be interested. Executive coaching involves the executive, coach, and organization working together towards goals. Coaching focuses on developing the executive's capabilities to help achieve organizational goals. The document then provides examples of how executive coaching is being used successfully in organizations to develop leaders' skills and empower them to think strategically.
Managing talent is no longer an episodic exercise. Leading companies are taking a holistic view, from building their employer brand, to attracting new people, to developing their best people, to crafting succession strategies. Korn Ferry can deliver all this and more through a consistent methodology, IP framework, and global team of experts.
This guide provides the definitive list of Korn Ferry’s integrated talent solutions. It includes information on what each of them does and how we can use them to meet your organization’s unique needs.
Professional certification is a common practice in all types of industries worldwide. It signifies an individual’s knowledge and expertise to employers, peers and clients. It also helps in defining and maintaining industry standards.
This guide offers a high-level information about HR Certifications available in the market. It is intended to help HR professionals to find out about certifications in specific fields.
All the certifications mentioned in this guide require some sort of assessment to be obtained, hence, mere attendance of a training course is not enough to get certified.
Leighton Partners provides executive search and talent acquisition services globally. They offer both contingent and retainer fee structures depending on the position urgency. Contingent fees are paid only if the candidate is successfully hired, while retainer fees involve an upfront portion with the balance due on hire. Leighton Partners sources candidates through their database, advertising, and industry networks. They conduct an in-depth qualifying and interviewing process before presenting candidates to clients.
Developing leadership skills; winning employee engagement public program cour...iTrainingExpert
This 2-day training program aims to help managers identify drivers of employee engagement and build a culture of engagement in their organization. The program will cover understanding engagement, alignment between employees and organization, identifying engagement drivers, developing persuasive influencing skills, and creating an engaged workforce. Participants will learn practical techniques to foster engagement across different generations through activities, case studies, and role plays led by the experienced trainer Philip Tan.
The document discusses the need for integrated talent strategy functions in organizations. It argues that talent management has evolved into a decision science guiding how organizations define, attract, develop, and retain talent. An effective talent strategy can help organizations answer key questions about talent risk, succession planning, capability requirements, and developing a long-term talent pipeline. By linking talent development to business strategy and assessing both current and future potential of executives, a talent strategy function can help close capability gaps and ensure an organization has the right talent to execute its strategy.
Skillworx provides tailored training courses to meet clients' unique needs, both at clients' premises and in open public courses. Training programs are designed based on learning styles and ensure skills are replicated on the job. A wide range of topics are covered, including management, leadership, communication, and specific skills. Modular programs can be customized to meet individual or business needs. Highly skilled facilitators use practical methods to ensure learning is processed and implemented.
AMAD Holding Group was established to create an integrated investment management entity targeting different sectors and areas locally and globally. The group offers investment services based on developing wealth through investing in multiple sectors and leveraging efficiencies and specialized human resources. The vision is to develop and ensure sustainability of investments while the mission is business development using the best human competencies.
Collins McNicholas provides outplacement solutions in Ireland to support companies facing redundancy situations and departing employees. Their services include individualized and group outplacement programs delivered onsite, offsite, or at their facilities. Programs cover career assessment, resume preparation, interview skills, job search techniques, and networking. Collins McNicholas employs qualified professionals and partners with their recruitment division to provide up-to-date job opportunities and industry contacts to support outplaced individuals.
AMAD Holding Group was established to create an integrated investment management entity targeting different sectors and areas locally and globally. The group offers investment services based on developing wealth through investing in multiple sectors and leveraging efficiencies and specialized human resources. The vision is to develop and ensure sustainability of investments, while the mission is business development using the best human competencies.
Get trained at Best National & International events, Qualified & Experienced Faculty
Excellent Internship & Placement, Get trained at Best National & International events
Qualified & Experienced Faculty, Excellent Internship & Placement Opportunities
Riskpro india human capital consulting and recruitments empanelment proposalRahul Bhan (CA, CIA, MBA)
Riskpro India provides human capital management consulting services including talent acquisition, technical training, and talent retention. It has experience in various industries and can handle projects of all sizes due to its multi-skilled team. Riskpro aims to be the leading provider of specialized human capital solutions and integrated risk management services to mid-large corporations in India through high quality and affordable services.
Allegis group white paper an inside look at the changing dynamics of talent...Matthew Clark
Get insights from nearly 7,000 employers and candidates about what’s working and what’s not in today’s competitive and evolving world of talent acquisition. You’ll find perspectives on job definition, sourcing, screening, and onboarding, plus trends in AI, D&I, and the Millennial workforce. It’s all here.
XPE Incorporated is a professional services firm that specializes in human capital management solutions like executive recruiting, permanent placement, and consulting to help clients optimize their talent and drive business performance. They take an analytical, strategic approach to hiring, managing, and retaining talent to maximize a client's competitive advantage and achieve goals like increased productivity and revenue. XPE commits to understanding each client and candidate's unique needs, maximizing their investment, and guaranteeing their work through a 30-day conditional guarantee on all hires.
We would like to get empaneled with your organisation for all your recruitment requirements. We are India’s fastest growing recruitment and risk management consulting firm. Please see attached our profile for more information.
Human Capital Management Services (HCMS) – a division of Risk-pro, is a professionally run organization focused to provide customized HCM solutions to the corporates to bring un-matched value for them. HCMS inter-alia includes niche, complex and time-bound talent acquisition at all levels, complete employee payments outsourcing solutions, technical, behavioral and cultural trainings, employee retention strategy, employee satisfaction surveys, HR policy drafting and documentation, sharing industry-best practices etc.
Risk-pro also provides highly specialized services in the field of risk management, internal audits, forensic accounting, investigations, prevention of fraud, process reviews etc.
We take pride in saying that we are among the fastest growing consulting companies in India. Today, we have offices in Mumbai, Delhi, and Bangalore and it has already added eight member firms in Ahmedabad, Agra, Chennai, Gurgaon, Hyderabad, Jaipur, Ludhiana, and Pune. All our offices and member firms are well equipped and staffed with qualified professionals into HR management and consulting. We have plans that will help us sustain this growth. Our presence in almost all states of India and beyond by 2014, is almost certain.
In talent acquisition, a fine blend of technology and professional human touch has given us an edge over others where talent and profile matching is left to technology. We have a team that not only brings years of professional and rich experience in varied industries, but are passionate to make hitherto impossible things possible for the client. However, words do not have enough strength to reflect our true potential, and though, to get a sneak peek, we strongly urge you to visit our website and go through the attached document, but we would be delighted to have a face to face meeting with you/your HR / Corporate Heads.
We are confident, our approach, methodology and professionalism along with commitment towards long-term sustainable relationships, will impress you to pave the way for our alliance that will be mutually beneficial to both the organizations. Experience Risk-pro HCMS, experience the difference.
Organizations often fail to properly identify and leverage their high potential (HIPO) employees. It is essential to use transparent, objective criteria to select candidates for HIPO programs based on their demonstrated potential, abilities, ambition and track record. Development Dimensions International identified 10 common factors considered in HIPO assessments, including the capacity for leadership, bringing out the best in others, and adapting to change. Properly separating potential and readiness is important, as is aligning HIPO employees' development with the organization's future vision to keep them engaged until their next role.
This document outlines how Aéroports de Montréal (ADM) invested in its LeadAir leadership development program to enhance employee engagement and support a transformation of its corporate culture. Key aspects include:
1) ADM created the LeadAir program in 2011 to develop leadership competencies among its directors and enhance organizational performance. The program included training modules, coaching, and business case studies.
2) A module on employee mobilization highlighted gaps in strategic planning communication that hindered employee engagement. This led ADM to involve directors more in strategic planning.
3) A 2013 benchmarking identified needs to improve competitiveness. ADM addressed this through its Perform plan and continued enhancing LeadAir to prepare leaders
Heidrick & Struggles is an international executive search and leadership consulting firm with over 55 years of experience. They operate through a matrix structure across industries and geographies to provide services like executive search, board member search, leadership assessment, and executive coaching to clients worldwide. Their specialized industry and regional expertise allows them to identify top executive talent on a global scale.
The document discusses the emerging role of the HR Chief Operating Officer (COO) to help HR organizations improve performance and better support business needs. Traditionally, HR leadership teams are structured around centers of expertise and business units, but this limits coordination across functions. A HR COO role would focus on driving efficiency, effectiveness, compliance, and cost of HR service delivery to help address gaps between business expectations and what HR can deliver. By dividing responsibilities between the CHRO who focuses on strategy and the HR COO who focuses on operations, HR organizations can better empower their teams to deliver more business value.
Best B School in Greater Noida E brochureglbimrnoida
This document provides information about the GL Bajaj Group of Institutions and GL Bajaj Institute of Management and Research (GLBIMR). It discusses the vision and establishment of the group with 9 campuses located in NCR and Mathura offering education in various fields. It then focuses on GLBIMR which was established in 2007 and offers a 2-year PGDM program approved by AICTE. It provides details about the vice chairman and director general who have been instrumental in the growth and success of the group and institute respectively through their vision and leadership.
This report examines the role of the chief operating officer (COO) based on surveys of over 300 COOs and 40 C-suite executives. It finds that the COO role has become more complex due to increasing business challenges. COOs thrive on handling change and complexity but their role is also one of the most difficult in the C-suite. While leadership skills are seen as critical for COOs, many admit needing improvement in this area. The report also finds that COOs can play an important strategic role but are not yet strategic enough. A lack of external visibility and understanding of their role poses a barrier to COOs' career development. Rapid-growth market COOs require broader skills to capture growth opportunities.
The document provides an overview of the Post-Graduate Programme in Management for Executives (PGPX) at IIM Ahmedabad, including messages from the Director, Programme Chair, and Placement Chairperson. It also includes details about the programme structure, projects undertaken, placement track record, class profile, student profiles, faculty, and the placement process and policies.
Engineering the right candidate. Richard Clegg (Recruitment Manager) outlines why the recruitment of top Engineering Managers can be beset with problems.
LEORON is a comprehensive training institute offering training and development solutions in corporate functions like finance, HR, supply chain management, operations, and engineering. It was founded based on experience in the manufacturing sector in Sweden in the 1990s. LEORON delivers approximately 500 courses annually to roughly 4,000 professionals across industries in the EMEA region. Its mission is to help clients increase competitiveness by improving employee competency through top-quality training delivered by experts. LEORON provides public courses, in-house training programs, and distance learning to suit various client needs.
The Rising CCO V: Chief Communications Officers’ Perspectives on a Changing M...Weber Shandwick
Global executive search firm Spencer Stuart and global public relations firm Weber Shandwick partnered to release The Rising CCO V. This survey, now in its fifth year, explores how chief communications officers (CCOs) from North America, Europe, Asia Pacific and Latin America expect their responsibilities to evolve over time in an increasingly digitalized and media-fragmented world.
This document provides information for investors aged 36-49 on retirement planning. It discusses splitting savings into taxable and non-taxable accounts, with a focus on 401(k)s. It emphasizes the importance of having a retirement vision, taking responsibility for success, and the effects of compound growth over time. Charts show hypothetical growth in a 401(k) depending on contribution amounts and starting ages. The document also reviews 401(k) basics including traditional versus Roth options and how Amway matches contributions. Common myths about retirement plans are debunked and important investment terms are defined.
10 Retirement Life Plan - FELIFEPLANMAR2015philcastle
The document outlines a retirement life plan framework that aims to match investments and asset allocation to individual retirement objectives and needs. It refers to Maslow's hierarchy of needs in retirement planning and identifies key objectives like secure income, lifestyle cashflow and capital access, capital growth, and legacy. The framework then maps these objectives to appropriate asset classes and investments with different risk and return profiles to create a customized retirement plan.
The role of life insurance in retirement planningBill Hurlbut
This document discusses the role of cash value life insurance in retirement planning. It can provide benefits if the policyholder dies, becomes disabled, or lives to retirement. At retirement, the cash value can be a source of income through withdrawals, loans, or converting it into a lifetime annuity. It allows tax-deferred growth and flexible access to funds. Withdrawals and loans reduce the death benefit and cash value.
This document discusses the role of life insurance in retirement planning. It notes that cash value life insurance can provide benefits if the policyholder dies prematurely, becomes disabled, or lives to retirement. At retirement, the cash value can be a source of income through lump sums, annuities, or withdrawals. It also details how life insurance protects income, grows tax-deferred, and allows flexible access to funds. The document outlines important facts about Social Security benefits and notes that personal savings are needed to bridge the gap between Social Security and other retirement income sources.
Collins McNicholas provides outplacement solutions in Ireland to support companies facing redundancy situations and departing employees. Their services include individualized and group outplacement programs delivered onsite, offsite, or at their facilities. Programs cover career assessment, resume preparation, interview skills, job search techniques, and networking. Collins McNicholas employs qualified professionals and partners with their recruitment division to provide up-to-date job opportunities and industry contacts to support outplaced individuals.
AMAD Holding Group was established to create an integrated investment management entity targeting different sectors and areas locally and globally. The group offers investment services based on developing wealth through investing in multiple sectors and leveraging efficiencies and specialized human resources. The vision is to develop and ensure sustainability of investments, while the mission is business development using the best human competencies.
Get trained at Best National & International events, Qualified & Experienced Faculty
Excellent Internship & Placement, Get trained at Best National & International events
Qualified & Experienced Faculty, Excellent Internship & Placement Opportunities
Riskpro india human capital consulting and recruitments empanelment proposalRahul Bhan (CA, CIA, MBA)
Riskpro India provides human capital management consulting services including talent acquisition, technical training, and talent retention. It has experience in various industries and can handle projects of all sizes due to its multi-skilled team. Riskpro aims to be the leading provider of specialized human capital solutions and integrated risk management services to mid-large corporations in India through high quality and affordable services.
Allegis group white paper an inside look at the changing dynamics of talent...Matthew Clark
Get insights from nearly 7,000 employers and candidates about what’s working and what’s not in today’s competitive and evolving world of talent acquisition. You’ll find perspectives on job definition, sourcing, screening, and onboarding, plus trends in AI, D&I, and the Millennial workforce. It’s all here.
XPE Incorporated is a professional services firm that specializes in human capital management solutions like executive recruiting, permanent placement, and consulting to help clients optimize their talent and drive business performance. They take an analytical, strategic approach to hiring, managing, and retaining talent to maximize a client's competitive advantage and achieve goals like increased productivity and revenue. XPE commits to understanding each client and candidate's unique needs, maximizing their investment, and guaranteeing their work through a 30-day conditional guarantee on all hires.
We would like to get empaneled with your organisation for all your recruitment requirements. We are India’s fastest growing recruitment and risk management consulting firm. Please see attached our profile for more information.
Human Capital Management Services (HCMS) – a division of Risk-pro, is a professionally run organization focused to provide customized HCM solutions to the corporates to bring un-matched value for them. HCMS inter-alia includes niche, complex and time-bound talent acquisition at all levels, complete employee payments outsourcing solutions, technical, behavioral and cultural trainings, employee retention strategy, employee satisfaction surveys, HR policy drafting and documentation, sharing industry-best practices etc.
Risk-pro also provides highly specialized services in the field of risk management, internal audits, forensic accounting, investigations, prevention of fraud, process reviews etc.
We take pride in saying that we are among the fastest growing consulting companies in India. Today, we have offices in Mumbai, Delhi, and Bangalore and it has already added eight member firms in Ahmedabad, Agra, Chennai, Gurgaon, Hyderabad, Jaipur, Ludhiana, and Pune. All our offices and member firms are well equipped and staffed with qualified professionals into HR management and consulting. We have plans that will help us sustain this growth. Our presence in almost all states of India and beyond by 2014, is almost certain.
In talent acquisition, a fine blend of technology and professional human touch has given us an edge over others where talent and profile matching is left to technology. We have a team that not only brings years of professional and rich experience in varied industries, but are passionate to make hitherto impossible things possible for the client. However, words do not have enough strength to reflect our true potential, and though, to get a sneak peek, we strongly urge you to visit our website and go through the attached document, but we would be delighted to have a face to face meeting with you/your HR / Corporate Heads.
We are confident, our approach, methodology and professionalism along with commitment towards long-term sustainable relationships, will impress you to pave the way for our alliance that will be mutually beneficial to both the organizations. Experience Risk-pro HCMS, experience the difference.
Organizations often fail to properly identify and leverage their high potential (HIPO) employees. It is essential to use transparent, objective criteria to select candidates for HIPO programs based on their demonstrated potential, abilities, ambition and track record. Development Dimensions International identified 10 common factors considered in HIPO assessments, including the capacity for leadership, bringing out the best in others, and adapting to change. Properly separating potential and readiness is important, as is aligning HIPO employees' development with the organization's future vision to keep them engaged until their next role.
This document outlines how Aéroports de Montréal (ADM) invested in its LeadAir leadership development program to enhance employee engagement and support a transformation of its corporate culture. Key aspects include:
1) ADM created the LeadAir program in 2011 to develop leadership competencies among its directors and enhance organizational performance. The program included training modules, coaching, and business case studies.
2) A module on employee mobilization highlighted gaps in strategic planning communication that hindered employee engagement. This led ADM to involve directors more in strategic planning.
3) A 2013 benchmarking identified needs to improve competitiveness. ADM addressed this through its Perform plan and continued enhancing LeadAir to prepare leaders
Heidrick & Struggles is an international executive search and leadership consulting firm with over 55 years of experience. They operate through a matrix structure across industries and geographies to provide services like executive search, board member search, leadership assessment, and executive coaching to clients worldwide. Their specialized industry and regional expertise allows them to identify top executive talent on a global scale.
The document discusses the emerging role of the HR Chief Operating Officer (COO) to help HR organizations improve performance and better support business needs. Traditionally, HR leadership teams are structured around centers of expertise and business units, but this limits coordination across functions. A HR COO role would focus on driving efficiency, effectiveness, compliance, and cost of HR service delivery to help address gaps between business expectations and what HR can deliver. By dividing responsibilities between the CHRO who focuses on strategy and the HR COO who focuses on operations, HR organizations can better empower their teams to deliver more business value.
Best B School in Greater Noida E brochureglbimrnoida
This document provides information about the GL Bajaj Group of Institutions and GL Bajaj Institute of Management and Research (GLBIMR). It discusses the vision and establishment of the group with 9 campuses located in NCR and Mathura offering education in various fields. It then focuses on GLBIMR which was established in 2007 and offers a 2-year PGDM program approved by AICTE. It provides details about the vice chairman and director general who have been instrumental in the growth and success of the group and institute respectively through their vision and leadership.
This report examines the role of the chief operating officer (COO) based on surveys of over 300 COOs and 40 C-suite executives. It finds that the COO role has become more complex due to increasing business challenges. COOs thrive on handling change and complexity but their role is also one of the most difficult in the C-suite. While leadership skills are seen as critical for COOs, many admit needing improvement in this area. The report also finds that COOs can play an important strategic role but are not yet strategic enough. A lack of external visibility and understanding of their role poses a barrier to COOs' career development. Rapid-growth market COOs require broader skills to capture growth opportunities.
The document provides an overview of the Post-Graduate Programme in Management for Executives (PGPX) at IIM Ahmedabad, including messages from the Director, Programme Chair, and Placement Chairperson. It also includes details about the programme structure, projects undertaken, placement track record, class profile, student profiles, faculty, and the placement process and policies.
Engineering the right candidate. Richard Clegg (Recruitment Manager) outlines why the recruitment of top Engineering Managers can be beset with problems.
LEORON is a comprehensive training institute offering training and development solutions in corporate functions like finance, HR, supply chain management, operations, and engineering. It was founded based on experience in the manufacturing sector in Sweden in the 1990s. LEORON delivers approximately 500 courses annually to roughly 4,000 professionals across industries in the EMEA region. Its mission is to help clients increase competitiveness by improving employee competency through top-quality training delivered by experts. LEORON provides public courses, in-house training programs, and distance learning to suit various client needs.
The Rising CCO V: Chief Communications Officers’ Perspectives on a Changing M...Weber Shandwick
Global executive search firm Spencer Stuart and global public relations firm Weber Shandwick partnered to release The Rising CCO V. This survey, now in its fifth year, explores how chief communications officers (CCOs) from North America, Europe, Asia Pacific and Latin America expect their responsibilities to evolve over time in an increasingly digitalized and media-fragmented world.
This document provides information for investors aged 36-49 on retirement planning. It discusses splitting savings into taxable and non-taxable accounts, with a focus on 401(k)s. It emphasizes the importance of having a retirement vision, taking responsibility for success, and the effects of compound growth over time. Charts show hypothetical growth in a 401(k) depending on contribution amounts and starting ages. The document also reviews 401(k) basics including traditional versus Roth options and how Amway matches contributions. Common myths about retirement plans are debunked and important investment terms are defined.
10 Retirement Life Plan - FELIFEPLANMAR2015philcastle
The document outlines a retirement life plan framework that aims to match investments and asset allocation to individual retirement objectives and needs. It refers to Maslow's hierarchy of needs in retirement planning and identifies key objectives like secure income, lifestyle cashflow and capital access, capital growth, and legacy. The framework then maps these objectives to appropriate asset classes and investments with different risk and return profiles to create a customized retirement plan.
The role of life insurance in retirement planningBill Hurlbut
This document discusses the role of cash value life insurance in retirement planning. It can provide benefits if the policyholder dies, becomes disabled, or lives to retirement. At retirement, the cash value can be a source of income through withdrawals, loans, or converting it into a lifetime annuity. It allows tax-deferred growth and flexible access to funds. Withdrawals and loans reduce the death benefit and cash value.
This document discusses the role of life insurance in retirement planning. It notes that cash value life insurance can provide benefits if the policyholder dies prematurely, becomes disabled, or lives to retirement. At retirement, the cash value can be a source of income through lump sums, annuities, or withdrawals. It also details how life insurance protects income, grows tax-deferred, and allows flexible access to funds. The document outlines important facts about Social Security benefits and notes that personal savings are needed to bridge the gap between Social Security and other retirement income sources.
This Data Spotlight provides data and statistics on the attributes of boards of directors of publicly traded companies in the United States. This data supplements the issues introduced in the Quick Guide “Board of Directors: Structure and Consequences.”
State life Insurance Corp, Of Pakistan Gulf Zone offering Insurance Policies for all Nationals in USD Our Head Office is in Dubai UAE we are operating in Gulf from last 22 years.
ICICI Prudential Life Insurance is a joint venture between ICICI Bank and Prudential Plc established in 2000. It offers various individual and group insurance plans like term plans, wealth plans, child plans, health plans, retirement plans, ULIPs and group plans. The plans cater to different demographics and socio-economic segments across India with the goal of providing financial protection and saving/investment solutions. The summary highlights the company details and provides an overview of the types of insurance products and plans offered to different customer segments.
financial analysis of icici prudential life insuranceamit soni
This document provides a financial analysis of ICICI Prudential Life Insurance company. It includes an overview of the company and its products, sources of finance such as equity shares and debt, comparative financial statements from 2007-2008 showing increases in reserves and current assets. Financial ratios are calculated including current ratio, profitability ratio, debt ratio and return ratio. Findings note more charges taken from customers and lack of profit until 2008. Recommendations include caring more about fund management and providing lower charges to customers.
The document provides an overview of the history and types of life insurance. It discusses that life insurance originated in India from the Vedas. The first Indian life assurance society was formed in 1870. There are various types of life insurance policies including term life insurance, permanent/whole life insurance, and unit linked insurance plans. The document also outlines the claims process, exclusions in accident benefits, top insurance companies in India, and current news in the life insurance sector.
- Life insurance first came to India from England in 1818, with the Oriental Life Insurance Company starting as the first life insurer.
- The Insurance Act of 1912 was passed to regulate the insurance business, requiring actuarial certification of premium rates and valuations.
- The LIC Act was passed in 1956 leading to the nationalization of the insurance industry and creation of LIC as a statutory body.
- Today, LIC dominates the Indian life insurance market as the largest insurer, though private players have gained significant share in recent years.
Why Boards Matter: Building and Developing a World Class Board of DirectorsJim Citrin
Our insights about the market for board talent across S&P 500, the U.S. Tech Industry, and early stage growth companies as well as a cross section of boards interested executives based on the Spencer Stuart Board Index, the U.S. Tech Board Index, and a SurveyMonkey survey put together as input for #WhyBoardsMatter, a joint presentation from Spencer Stuart and Kleiner Perkins.
Read the full post here:
The document discusses the history and types of life insurance in India. It notes that life insurance can be traced back to ancient texts and the first insurance companies were established in the late 19th century. It then summarizes different types of life insurance policies including term insurance, endowment plans, whole life plans, and unit linked insurance plans. The document also briefly outlines how life insurance claims are processed.
The document provides an overview of the Certified Human Resource Intelligence Professional (CHIP) program. The program aims to equip HR professionals with the skills needed to implement HR intelligence technologies that provide real-time insights. This allows for better strategic decision making to align workforce management with business objectives. The CHIP program teaches participants how to perform analytics in areas like workforce planning, employee development, and performance management. Upon completing the course, HR executives will be able to apply technology-based best practices to help their organizations maximize opportunities through HR intelligence.
This white paper discusses strategies for using distance learning to achieve strategic HR goals. It addresses the rise of knowledge workers, the need for rapid adaptation to strategic changes, and the war for talent in attracting and retaining skilled employees.
The paper outlines five objectives for an effective learning strategy: 1) Increase access to learning while controlling costs, 2) Promote flexibility and responsiveness, 3) Demonstrate measurable impacts, 4) Foster a learning culture, and 5) Serve both business and individual needs. It then describes five innovative HR practices using distance learning to meet these objectives, such as blended learning, workplace learning, and focusing on strategic skills.
The document summarizes insights from an executive briefing on talent pipelines and retention. It discusses the need to align learning and development with business strategy to build needed capabilities. It also describes ABB's integrated talent management approach including competency frameworks, global systems, capability planning linked to business goals, and policies to encourage internal mobility. Leaders saw capable leadership, career prospects and culture as most important for retention over financial rewards or flexibility.
The document discusses talent management, defining it as attracting, developing, and retaining employees to meet organizational needs. It outlines the purpose of talent management as developing leaders internally and maximizing performance. Benefits include retaining top talent, better hiring, understanding employees, and professional development decisions. The talent management process involves workforce planning, recruiting, onboarding, performance management, training, succession planning, compensation, and critical skills gap analysis. Recent trends in talent management include increased competition for talent, greater use of technology, focus on employer branding, promoting internal talent, and addressing population changes.
The document discusses talent management, defining it as attracting, developing, and retaining employees to meet organizational needs. It outlines the purpose of talent management as developing leaders internally and maximizing performance. Benefits include retaining top talent, better hiring, understanding employees, and professional development decisions. The talent management process involves workforce planning, recruiting, onboarding, performance management, training, succession planning, compensation, and critical skills gap analysis. Recent trends in talent management include increased competition for talent, greater use of technology, focus on employer branding, promoting internal talent, and addressing population changes.
Talent management is the systematic attraction, identification, development, engagement, retention and deployment of individuals who are valuable to an organization. It should be aligned with business goals. Talent management seeks to get the right people in the right jobs at the right time through strategic workforce planning and a range of activities including recruitment, succession planning, development and retention. Effective talent management requires involvement from senior leaders, tracking metrics to evaluate success, and preparing for future challenges through connected and adaptive workforces.
This document discusses predictions for HR and talent management trends in 2024. It notes that skills strategies will continue to evolve, focusing on skills as currency for workforce planning and hiring. Learning and development will be more personalized using AI to match skills to content and create virtual coaching tools. Performance management will move away from annual reviews towards ongoing conversations linked to skills development. Internal talent mobility will increase as organizations encourage employees to take on new projects and roles using their skills.
Graduates paper - Transforming today’s graduates into tomorrow’s leadersParity Professionals
Developing graduate talent that can make a measurable and lasting positive impact on organisational culture and business
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This document discusses six key work practices that can enhance employee motivation and lead to better performance when implemented together:
1. Career development and opportunities for advancement - Organizations should provide career development opportunities for all staff through consistent policies over time.
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4. Involvement and communication - Involving staff in decisions and communicating effectively makes them feel valued and improves understanding.
5. Performance management and appraisal - Focusing on performance improvement as well as reviews and linking these to development
This document discusses six key work practices that can enhance employee motivation and lead to better performance when implemented together:
1. Career development and opportunities for advancement - Organizations should provide career development opportunities for all staff through consistent policies over time.
2. Training opportunities - Providing training linked to business needs generates commitment and a more efficient organization.
3. Job influence and challenge - Giving staff influence over their jobs and designing challenging jobs improves motivation and commitment.
4. Involvement and communication - Involving staff in decisions and communicating effectively makes them feel valued and improves understanding.
5. Performance management and appraisal - Focusing on performance improvement as well as reviews and linking these to development
This document discusses six key work practices that can enhance workforce motivation and performance in public organizations: 1) career development and opportunities for advancement, 2) training opportunities, 3) job influence and challenge, 4) involvement and communication, 5) performance management and dealing with underperformance, and 6) performance-related pay. It emphasizes that these practices are most effective when applied together, and stresses the critical role of leadership in underpinning a high-performance workforce.
This document discusses how talent and leadership are critical issues for businesses. It summarizes several studies that found talent to be the top priority and challenge for CEOs. The document then introduces Korn/Ferry International as the leading consulting firm for addressing these talent and leadership needs through their expertise and global reach. They provide solutions in areas like board effectiveness, CEO and top team effectiveness, integrated talent management, and leadership development to help organizations continuously adapt and improve business performance.
This document provides an overview of human resource management (HRM). It defines HRM as a function aimed at maximizing employee performance to support business objectives. Key HRM activities include recruitment, training, performance reviews, and compensation. The role of HR has evolved from transactional work to more strategic initiatives. HR ensures laws and regulations are followed and helps balance organizational and employee needs. The document also discusses international HRM trends and the changing role of HR managers in developing skills, managing change, and creating motivated workforces.
Talent management refers to the processes that organizations use to attract, develop, and retain employees with high potential or who are critical to the organization's success. It involves identifying key talent, developing their skills through training and career opportunities, and implementing programs to encourage talent retention. An effective talent management strategy is important for long-term organizational performance and is integrated into the overall business strategy rather than being solely the responsibility of the human resources department.
The document provides information about the Centre for Leadership Studies (CLS) at the University of Exeter, including:
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Prof Sattar Bawany, CEO of Centre for Executive Education - CEE Global and Strategic Advisor of International Professional Managers Association (IPMA) is one of the Speakers at the marcus evans 3rd Annual Global HR Excellence Conference on 13-15 October 2014 to be held in Singapore. H will be delivering a plenary session on Leading and Engaging Today’s Multigenerational Workforce.
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The document discusses the need for accounting and finance professionals to shift from being reactive to proactive by becoming more "anticipatory". It analyzes research from various sources that identified key competencies for the future, with the most important being "anticipation". Anticipation involves strategic thinking, continuous learning, innovation, and other skills. The document proposes that accounting professionals can become more anticipatory by transforming from focusing on problems to focusing on solutions, and from crisis management to opportunity management. It identifies the top five barriers to becoming more anticipatory as well.
In a Dynamic environment, human resources are
one of the important sources of the organizational
Enlargement which also helps to take fighting edge. Human
resource system contributes towards the empirical
enlargement through facilitating the change & by
developing the competencies of the employees. Talent
Management is the key for improved business performance
& for the empirical enlargement of an organization. The
linkage between talent management and Empirical
Enlargement will help to attain higher organizational
performance. Many studies have been conducted regarding
how companies can gain a empirical fierce edge through
their human resources & proper knack management.
Having talented employees helps the firms drive and boost
for organizational success. knack management is of strategic
importance & by developing the talent, organizations may
develop strong leadership teams which will help to take
fierce edge and that will enable the organization to achieve
its goals & organizationalsuccess.
UEP Getting Ahead Through Six Practices, Practice 6 Talent ManagementDanielle Butler-Miles
The document discusses six key steps for organizations to effectively manage talent and performance: 1) Define talent requirements based on business strategy and objectives, 2) Identify and attract talent both internally and externally, 3) Define performance expectations and role expectations, 4) Develop and nurture leadership capabilities through training, coaching and exposure to projects, 5) Recognize, reward and retain talent through compensation, promotion and other benefits, and 6) Align talent and supply chains to create an integrated performance management system. The document emphasizes that talent management is critical for business success and requires commitment from senior leadership.
2. about spencer stuart
Spencer Stuart is one of the world’s leading executive search consulting
firms. Privately held since 1956, Spencer Stuart applies its extensive
knowledge of industries, functions and talent to advise select clients —
ranging from major multinationals to emerging companies to nonprofit
organizations — and address their leadership requirements. Through
50 offices in more than 25 countries and a broad range of practice
groups, Spencer Stuart consultants focus on senior-level executive
search, board director appointments, succession planning and in-depth
senior executive management assessments. For more information on
Spencer Stuart, please visit www.spencerstuart.com.
About the Spencer Stuart European Insurance Practice
Spencer Stuart conducts senior-level executive searches, board director
appointments and human capital assignments for a wide range of
clients within the European insurance industry. Our consultants, many
of them with years of senior-level executive experience in the insurance
industry, have access to more than 15,000 insurance executives
worldwide and are knowledgeable in key areas that are critical to many
companies, including product management, alternative distribution,
offshore operations, risk and capital management, and governance.
We conduct assignments in the Broking, Life, Property-Casualty and
Reinsurance sectors.
3. Our research into attitudes and approaches to talent management
and succession planning involved a series of in-depth interviews with
senior executives from 15 leading insurance companies in Europe. The
themes emerging from these discussions are developed in this paper.
The companies we talked to range from brokers to primary insurers to
re-insurers. Although these businesses differ from each other in many
respects, in this study we set out to discover how the wider European
insurance industry is approaching the twin challenges of talent
management and succession planning, and to what extent companies
are preparing for a future in which securing top-flight leadership skills
and experience will be critical for their long-term success.
Contents
Introduction 2
Approaches to succession planning and talent management 3
Competency models and performance measurement 5
Balancing technical expertise with broader business management skills 5
Building a mobile, global talent pool 6
Diversity in the European insurance industry 6
The value of job rotation 7
External benchmarking 8
Rewarding people for developing talent 9
Who is responsible for succession planning and talent management? 10
Conclusion 11
Participants 12
Spencer Stuart European Insurance Practice members 12
4. Talent management and succession planning in the European insurance industry
Introduction
Talent management and succession planning go hand in hand.
Managing talent is about providing opportunities for people with the highest potential in an
organisation to learn, develop, gain useful experience and progress in their careers. It means
stimulating and retaining the people who are destined to play a major role in the future of the
organisation.
Succession planning is about the identification and development of future leaders. This task
is made much easier where talent has been well managed. After all, the right successors are
unlikely be found inside an organisation where the talent has not been properly nurtured and
developed. Succession planning forces an organisation to look closely at its talent, develop
reliable assessment procedures, and ensure that they are applied systematically across the board.
In most European insurance companies, formalised talent management and succession
planning processes have been introduced relatively recently, i.e. within the last five years. Based
on comparable studies we have conducted in other parts of the financial services industry and
in consumer and technology businesses, it is clear that the insurance industry lags beind other
industries in this respect. But even for those that have been active in this area for some while,
getting people’s attention and doing it right remain a challenge.
European insurance companies are starting to recognise the value of talent management and
succession planning, although in many cases there appears to be a substantial gulf between
intention and reality. Many good programmes exist, but do they deliver?
Rolling out a succession plan across an organisation usually involves significant cultural
change, and the insurance industry finds it harder than most to embrace such change. There
is evidence of excellent programmes in place and there is plenty of innovation; but there is also
conflict between progressive ideas and some of the more traditional, conservative approaches
that resist the performance-based analysis and appraisal procedures necessary for creating a
meritocracy.
Finding potential successors — being able to replenish and enhance leadership from within
— requires discipline, sound processes and commitment from all levels of the organisation.
The impetus and framework need to come from the top (this is not always apparent), but much
of the effort takes place at grass roots level. In the next section we look at some of the efforts
being made to introduce best practice into European insurance companies.
5. Approaches to succession planning
and talent management
Most companies have prioritised their succession planning by giving greatest emphasis to
the top two layers of executives. The executive board of one major company reviews its top 50
positions — a mixture of senior functional roles and business leaders — as often as quarterly.
“Succession planning has to be driven from the top. Its purpose is to ensure that a pipeline of
talented individuals is in place.”
Many companies are only now beginning to build talent management programmes for high
potential middle managers and junior staff. Among the businesses we spoke to, the number of
“high potentials” being tracked varied hugely, from as few as 30 to as many as 1,400 in one of
the larger companies.
The most interesting and dynamic programmes reach right down through the organisation,
identifying promising talent from senior managers to recent graduates, and seeking
opportunities to develop that talent.
“We are focused on continuity and longevity.”
One company uses its organisation and development review as a mechanism for identifying
areas in which it needs to excel, what the implications are for leadership, and where those
leaders might be found. Both immediate and longer-term succession issues are examined, and
a range of information is maintained on key prospects, such as career moves to date, perceived
strengths and weaknesses, language ability, and mobility. People are “force-ranked” based on a
range of performance criteria.
“Previously succession planning meant having nice talks with nice people; now we take care of
the succession of over 150 people all over Europe in key functions.”
Companies categorise their high potentials in different ways. One has four grades (including
one for specialists whose skills mean that they are unlikely to move into general management
roles). People in the junior grade are, wherever possible, placed in generalist roles early in their
career and given “stretch promotions”. People in the higher two grades are given individual
development plans and offered tailored coaching. A second company first looks at key
succession areas, then assesses people in terms of timeframes and their readiness for positions
in 0–2 years, 2–4 years and 4–7 years. It has created a series of development programmes
to accelerate individuals and move them up in a shorter timeframe. A third company has
identified a “raw talent group” to ensure that it does not overlook its outstanding junior staff.
6. Talent management and succession planning in the European insurance industry
“It is all about training, self-discovery and learning.”
One of the hardest challenges is identifying talent early and giving people significant roles
— or at least meaningful projects or development activities. This sometimes means moving
someone senior, which can be awkward. So, the challenge is not always about identifying an
internal candidate when there is a vacancy, it is about creating a vacancy in the first place.
“I think it’s quite likely that in five years time the leadership profile will be very different, and in
any case I don’t think that leadership is a fixed concept.”
At the heart of any talent management or succession planning programme there has to be
a clear understanding of where the company, and indeed the industry, is going. It stands to
reason that the business strategy will determine what kind of people the company needs in the
future and where they may be found.
Leadership is not a fixed concept — as in other sectors, insurance business models are
changing. Companies are diversifying into new geographic markets, for example China,
Russia, India and Eastern Europe; a variety of new strategic partnerships are evolving; and
there is a significant increase in off-shore and outsourced activities. All these factors increase
complexity and change employee profiles. They call for the introduction of new management
skills. Flexibility is essential — companies with the ability to identify these new skills and
develop their talent accordingly will have a competitive advantage over their competitors.
“I am a great believer in saying that the process doesn’t make it good — what really matters is
the quality of the discussion and the actions that are taken.”
Talent management and succession planning initiatives have to deliver results or they will lose
support. Insurance companies have to contend with the reality that assessment procedures
are often unpopular or applied inconsistently, the evaluation of individuals can be highly
subjective, transparency may be lacking, and processes perceived as bureaucratic.
7. Competency models and performance measurement
Most companies we talked to operate competency models, managing them entirely in-house.
These vary in sophistication; some are specifically designed as an internal leadership
assessment tool, others are fairly generic. Not all are linked to succession planning, although
they often feed into training courses that are devised to fill competency gaps.
“The CEO wants to change the business and its culture: We will need new type of managers. As
a result, the leadership competency model will be revised.”
Competency models are usually directly influenced by strategic plans, but not in every case,
which is surprising. Competency models designed to evaluate managerial and leadership skills
tend to be fairly mature and consistently applied, but technical competencies (in actuarial and
risk areas, for example) rely on other methodologies to capture performance achievement.
Annual appraisals (increasingly 360 degree appraisals) are becoming more common, although
these are not at all popular, especially among brokers. Increasingly, bonuses are being linked
directly to appraisals as companies relate compensation models more closely to competency
and performance issues. That said, succession planning is not always linked to the competency
model, and more could undoubtedly be done to connect the two.
Balancing technical expertise with broader business
management skills
“Until very recently, company culture focused more on technical rather than managerial
content of executive roles, as often happens in this industry.”
The combination of general management and technical skills is highly sought after in the
insurance industry. The changing pace and shape of insurance is putting a premium on
business and managerial competencies. While technical roles (e.g. risk, finance, actuarial)
remain critical, there is no question that increased emphasis is being placed on the
development of managerial skills.
One company that has traditionally focused on retention and remuneration is now turning its
attention to development and management. It has undertaken to train the top 500 executives,
mostly managers and some brokers, on leadership and the inner workings of a business.
8. Talent management and succession planning in the European insurance industry
Building a mobile, global talent pool
“If we had built this requirement into our talent management four or five years ago we would
not have the difficulties that we have now.”
Within larger, international companies, there is a widespread recognition of the importance of
building an international talent pool that is capable of meeting the challenges of an expanding,
increasingly global business. Perhaps inevitably, nationally based insurance companies are less
interested in developing international talent.
Global functions in particular require a global approach to developing talent. Many companies
keep track of who may be suitable to take up cross-border appointments. Indeed, individuals
who are interested in and available for overseas postings are at a distinct advantage when it
comes to joining the high potential talent pool in some companies.
“There is an international talent pool, but mainly for junior managers at international
subsidiaries. Our goal is to implement a plan for an integrated strategy for all domestic and
international employees.”
Diversity in the European insurance industry
The insurance industry may not have been an early adopter of diversity policies, but the issue
is now being addressed across the board. There remains a shortage of women in leading
positions, although there is less gender imbalance at more junior levels. However, with the
outsourcing of many back office roles, one company admitted that 90% of its remaining
workforce is white and male.
“In terms of diversity we have an equal match of men and women but not an equal
distribution in seniority. We have a culture of very long hours and that does not suit all
women.”
“Cultural awareness is increasingly on the agenda and diversity is included as a topic in our
leadership academy programmes which is the training ground for our top people.”
Producing broader candidate lists is on the agenda of most companies, but efforts to improve
race and religious diversity are generally less advanced than gender diversity. Promoting and
hiring on merit is the norm, with affirmative action rarely practised in the European insurance
industry. As one participant commented: “we stretch promote people according to whether
9. they can do the job, not in terms of positive discrimination, but we are mindful that we have to
manage candidates carefully.”
“There is only one woman in a top management position, despite the fact that 60% of our
employees are female.”
“When looking at making internal promotions, we always try to have a woman’s name on
the list.”
One company, frustrated with the finite talent pool within insurance, recently hired a number
of bright people from outside the industry, particularly from law and consulting firms. Within
a year these new recruits had gained a good grasp of insurance and were starting to make a
serious contribution, bringing with them welcome energy and a fresh perspective. In their own
way they had brought with them some diverse thinking into their new organisations.
The value of job rotation
“Insurance companies are still the domain of barons and godfathers. We are moving people
across some geographical/functional boundaries, but not a lot and certainly not enough.”
Job rotation is generally recognised as a positive, desirable thing — for some companies it is a
prerequisite for taking on senior roles. Job rotation is most common in the first decade of an
insurance career, after which people generally become far less mobile than in other industries.
Having encouraged people to move around the organisation it is important that they return to a
more senior role.
Secondments — an alternative to job rotation, and a good way to give experience to high
potentials — can be expensive to arrange. Business unit accountability can make it difficult for
people to move around the company, and more conservative managers are often loathe to let
good people go. Such attitudes will need to change if insurance companies are to retain and
develop talented individuals for the long-term benefit of the organisation.
“Our businesses are like silos currently. We could benefit from rotation. But I don’t believe
in top-down planning for people. I’d rather know the talent pool and make sure that internal
candidates are brought forward between business areas when a position has to be filled.”
“We are putting in place a more formal and effective mentoring programme.”
10. Talent management and succession planning in the European insurance industry
External benchmarking
As we have seen, changes in the financial services industry, and particularly in the insurance
sector, are forcing companies to revise their business strategies, often taking them into new
and unfamiliar territory. Sometimes a company is unable to supply all of its leadership needs
from within, and is left with no option but to look outside.
Even if a company believes that it is self-sufficient in terms of talent it is often regarded
as essential, when a succession event occurs, to benchmark internal candidates against
competitors and an even wider potential talent pool.
“The insurance industry traditionally tends to stick to its own”
“Recruiting for brokers is more of a wine bar scene.”
However, external benchmarking appears to be the exception rather than the rule for insurance
companies. Few have a screening or assessment model for potential external candidates, and
systematic benchmarking of the competition is extremely unusual. One person told us that
he will occasionally meet high potential people from outside the organisation on a speculative
basis, whether there is a job or not — but this is a long way from systematic benchmarking.
This lack of external benchmarking may result from the strong sense of self-sufficiency that
permeates many insurance companies. In some instances this might be characterised as
complacency or even insularity.
“In the broking industry we have been very myopic and very incestuous…our sons and
daughters marry…and people remember favours dating back decades or generations.”
Insurance companies prefer to make internal appointments when possible, looking outside
only when subsidiary and/or parent companies have not turned up suitable candidates.
External hires tend to be more common in financial and other functional roles.
External consultants are occasionally used to validate internal promotions (for example,
combining psychometric testing with in-depth interviews). However, looking outside the
organisation for potential recruits is noticeably less common than in other industries.
“We are much more about internal mobility rather than looking outside. However, for
functional roles we can be more external.”
“We actively try to avoid cannibalisation in the industry — it just increases pay-levels.”
11. The creation of specific talent pools tends to be reserved for very senior positions only, and
inclusion in such a pool can involve a tough selection process based on a set of leadership
competencies.
External talent pools are developed in a less formalised manner, often as a result of networking
and building professional relationships in the market. On the whole, insurance companies do
not keep target lists of companies from which they seek to recruit.
“We are much leaner than we were, which does reduce opportunities, and the demands on
senior people are much broader. An internal oversupply can lead to frustrations which need to
be managed.”
Static employee populations in some companies can make them a recruiting ground for other
organisations, which makes talent management schemes all the more important.
Rewarding people for developing talent
“This is a deficit. We still have a substantial number of people who think talent belongs to
them and not to the company.”
Few companies issue financial or other incentives to employees for developing people with
talent or contributing to succession planning programmes. Those that acknowledge the value
of rewarding people for developing talent have yet to incorporate this into the assessment
process.
“The incentive we have regarding succession planning is that people will not sit in a meeting
with the chief executive with no plan in front of them. Peer pressure is helping in this regard.”
“Top management is being rated on the number of talented people identified who would be
available for other parts of the company, and those willing to go abroad.”
12. Talent management and succession planning in the European insurance industry
Who is responsible for succession planning
and talent management?
“I wrote a paper with ideas about talent development and got management to agree it before
I joined.”
“We have a short-term mindset in the industry and long-term planning is lacking strategy. In
five years here, I have effected more change than in the rest of my career put together. A lot of
further change rests on HR becoming more professional, less supporting and a more action-
orientated function.”
Many of the HR people responsible for implementing succession planning and talent
management schemes in insurance companies have brought their expertise, along with a raft
of new HR policies, from other sectors. While it is clearly desirable to get succession planning
right to create continuity and long-term stability in an organisation, a judicious injection of new
ideas from outside the sector can have a positive impact — especially in an industry that has a
tendency to be rather insular.
“Strategic HR was not always at the top of the senior management agenda. Recently I have
been given a clear mandate to establish competency inventory, competence development,
management assessment, and management development programs. We’ll see in a year how
enthusiastic the business is.”
The companies with most effective succession planning and talent management programmes
tend to be those in which the CEO and top management are driving the agenda. This is true of
every industry, but in the relatively staid world of insurance the inspiration must come from
the very top for such programmes to achieve their full potential.
In multinational companies which are often more progressive in this area, both talent
management and succession planning are viewed as the shared responsibility of HR and the
line. The best results are to be found where the CEO, HR team and business leaders are equally
committed to managing talent and planning for leadership succession.
“We have a culture in which the bosses are involved in the businesses and no-one sits in an
ivory tower. I know significant details about the businesses and know who the stars are three
layers down.”
10
13. Conclusion
“We could do better at retaining people. We lose people before they get a sense of what life
could be like if they stuck around.”
Many strong talent management and succession planning programmes have been developed
by European insurance companies, but there is a long way to go before most companies catch
up with best practice outside the industry. During the next few years, companies will need
to consolidate what they have in place already, and take their programmes deeper into the
organisation for their long-term self-interest.
As the insurance industry becomes more global and business models change, a talent pool will
have to evolve that is capable of meeting the challenges facing the industry, one that reflects the
global diversity and cultural breadth of its customers.
There has been a noticeable change in the European insurance industry towards a more
meritocratic environment. Many excellent programmes are in place throughout Europe, but
they have not yet had a lasting impact. It is critical that insurance companies push ahead with
the implementation of their human capital programmes, while maintaining a close eye on best
practice outside the industry, so that they are receptive to new ideas, innovative solutions and
fresh talent.
“Innovation and creativity are going to be at a premium. We can expect to see more and
more non-insurance people on the executive board, most likely from other financial services
companies.”
11
14. Talent management and succession planning in the European insurance industry
Participants
We would like to thank all those who gave their time to participate in this survey. They included
senior executives from the following European insurance companies:
AIG Europe (UK) Ltd ERGO (Munich Re Group) RAS SpA
Allianz SE Eureko B.V. SEB Trygg Liv
Aon Ltd If PC Insurance Fondiaria-Sai SpA
Aviva plc ING Group N.V. Swiss Re
Barclays Insurance Prudential plc Willis Group Ltd
Spencer Stuart European Insurance Practice members
Mauro Capriata — milan Ignacio Maza — madrid
mcapriata@spencerstuart.com imaza@spencerstuart.com
t +39.02.77125.222 t +34.91.745.85.07
Leopoldo Cortés — madrid Andrea Pecchio — rome
lcortes@spencerstuart.com apecchio@spencerstuart.com
t +34.91.745.85.25 t +39.06.80207.222
Henrik Engsner — stockholm Bertrand Richard — paris
hengsner@spencerstuart.com brichard@spencerstuart.com
t +46.8.534.801.60 t +44 (0)1.53.57.81.41
Christine Johnston — london Ger Scholtens — amsterdam
cjohnston@spencerstuart.com gscholtens@spencerstuart.com
t +44 (0)20 7298.3419 t +31.20.305.73.82
David Juster — london Armen Simon — frankfurt
djuster@spencerstuart.com asimon@spencerstuart.com
t +44 (0)20 7298.3308 t +49.69.61.09.27.61
12
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