Download - Community Webinars
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Community Webinarswww.insurancecommunitycenter.com
The Five Major Hiring MistakesOnly Hire the Best
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www.InsuranceCommunityUniversity.com
Insurance Community Center Presents Monthly Webinars Free to
Community Members Community webinars are archived
on the Community homepage under the right hand tab titled: Webinar Archive
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Today’s PresentersInsurance Hiring Systems
www.agenciesonline.biz888 985 3331 X 210
Sue NordhausPresident, Insurance Hiring System
George NordhausChairman, Insurance Hiring System
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Cost of a Bad Hire
Wasted time in the hiring process
Money spent on the new hire/termination
Lost Business
Staff Alienation
Today’s PresentersInsurance Hiring Systems
www.agenciesonline.biz888 985 3331 X 210
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www.InsuranceCommunityUniversity.com
The Cost of Employee Turnover Most hiring and promotion decisions
are made in haste—during the first 5 minutes of an interview
The economy is having an effect on hiring, and on turnover, but..
80% of employee turnover is avoidable
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The Cost of Employee Turnover Hiring the “wrong” person for the “wrong”
job can be a financial disaster. Many employees do not have all the skills
and attributes to do their jobs well
Other vital factors need to be determined before successful hires can be made
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The Cost of Employee Turnover Understanding the financial (and
other) effects of establishing more proficient hiring practices will provide you more reasons to spend time and effort on this vital growth subject.
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The Cost of Employee Turnover The Gallup Organization places the
cost of a bad hire as being 3.2 times the individual’s salary.
Agency management consultants tell us bad hiring decisions that result in turnover cost the employer up to twice the person’s annual salary—for example a salary of $50,000 but cost of failed hire is up to $100,000.
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The Cost of Employee Turnover
Consultant Chris Burand says it costs a minimum of $200,000 to develop a producer.
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How do you….
Avoid frequent turnover? Save money, time and aggravation?
You learn to be more savvy when hiring your next employee…and stop making….
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What This Course Will Cover
The five major hiring mistakes…
1. Not identifying needs2. Not understanding the “Hiring
Triangle” 3. Not getting ALL the pertinent information 4. Not conducting a productive interview 5. Not measuring against specific “Job
Match Patterns.”
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Mistake #1—Understanding the Hiring TriangleFailure to understand the
concept of the Hiring Triangle
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www.InsuranceCommunityUniversity.com
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Mistake #2— Not identifying needs
What do we need to accomplish? Exactly what positions are we trying
to fill to accomplish those goals? What do we need in terms of skill,
character and competency? Objective standards they need to
meet What education should they have How about prior work experience Technology skills
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Understanding who we are looking for.. Unless we understand the functions
e want the potential hiree to perform (and agree on them with the candidate) the long-term probability of a successful hire is at stake.
Here, for instance are the fourteen job functions in agencies…
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Mistake #2— Not identifying needs
Agency Principal Benefits Account
Manager Benefits Producer Bookkeeper/Financial Claims Manager Commercial Account
Manager Commercial Lines
Producer Information Systems
Mangers
Marketing Manager Operations Manager Personal Lines
Account Manager Personal Lines
Producer Quality Manager Receptionist
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Commercial Lines Manager CSR
Prequalifies new business Educates clients about coverage,
exclusions & exposures Helps clients make appropriate
coverage changes Makes each contact a marketing
opportunity Decides whether to use
immediate or delayed invoicing Provides producers with technical
support (to help clients and agencies)
Follows up t ensure timely response
Explains audit procedures to clients and reviews interim reports
Provides binders, certificates, policies, etc. for clients
Explains audit procedures Seeks referrals from client
base Summarizes
schedules/proposals Remarkets, contacts clients
and follows up with producers Renews policies Verifies accuracy of direct
billed cancellations Follows agency credit and
collection policies Review's walk in payments
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Mistake #3—Getting all the pertinent information
Hirers primarily use resumes only to screen out non-qualifying candidates.
But resumes, if used and understood properly, can play a major part in the hiring process
Employment apps not standardized, have little probing questions…so..
We are not getting all the information we truly need
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What to watch-out for in a résumé
Believe it or not, lying on resumes is on the rise. Over 60% of H.R. professionals say they find inaccuracies on resumes.
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What to watch-out for in a resumeWhat do applicants lie about?
Education Number of years they have worked on a
job Accomplishments such as taking credit
for that they did not do Reasons for leaving the previous job Salary at previous jobs References
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What to watch-out for in a resume There are a variety of outside
services (Google “Background checks’…51 million entries) that will help you verify the resume’s authenticity: Comprehensive Background Check Education Verification Criminal, Civil and Sex Offenses
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What to watch-out for in a resume
Employment Verification Reference Check Professional licenses and certification checks▪ It is very easy to simply put initials after your name.
▪ Many accreditations, such as CIC, require the individual meet the accreditation requirement on an annual basis.
Has the candidate kept current with the requirement?
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Make sure you have an in-depth employment application
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Get all former employment history
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Three smaller mistakes – well-intentioned, but..—Infatuation
Blindly promoting from within
Recommendation from a friend
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Mistake #4—Not conducting a productive interviewThree basic tips of interviewing..
1. Hold the interview in a quiet, private area and schedule plenty of time
2. Put the applicant at ease by being friendly and conversational
3. Let the candidate talk, but control the question and answer flow— You learn a lot more by listening then talking
Profiles International, Waco, TX.
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Group Interviews
Group interviews are useful because a big part of cultural fit is whether or not the group actually accepts the person.
So bring people from different parts of your organization to the interview.
INC. Magazine
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Mistake #4—The Interview ProcessFive interview questions you
should ask:1. If you stayed with your current
employer, what would have been your next move?
2. What makes you stand out from others in your business?
3. Tell me your greatest accomplishment.
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Mistake #4—The Interview Process
4. Give me an example when you took the time to share a co-worker’s achievement
5. Will you agree to take our assessment tests so that we can jointly determine whether you fit the specific job qualifications?
NOTE: Make sure that all people conducting interviews use these same questions and document their answers in their employment file.
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Standardizing interview questions and procedures in your agency
Create a list of these and have everyone who is involved in hiring use it…always!
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Types of Question NOT to ask: Age or date of birth
Unless you can prove that the applicant needs to be a certain age to qualify (such as for licensing or driving a car), don’t ask
Gender The only place this applies is for rest room
attendants Language Spoken
Use caution. You may require effective communication, but you may not eliminate a candidate due to a slight accent
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Types of Question NOT to ask:Number of children, child care
arrangements, marital status: This is confidential information
Club memberships: Don’t ask, this can reveal religious
affiliation or ethnic backgroundEmergency Information:
Wait until the person is hired to ask for this information
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Not measuring applicant’s abilities against people successful in that position.
Need to know learning style, verbal and numerical ability.
Need to know behavioral traits such as attitude, social ability and energy level.
Mistake #5: Not measuring against specific job match patterns
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Bringing it all together 1. Utilizing the hiring
triangle2. Defining expectations3. Getting the right information
4. A productive interview5. Job-matching
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www.insurancehiringsystem.com
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Every step in the hiring process
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Fitting the performance model
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For Information about the Community and University Laurie Infantino
[email protected] 714 803 5830
Marjorie Segale [email protected] 714 206 9583
For Information about Insurance Hiring System Sue Nordhaus [email protected] 505 6o3
550339
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Upcoming Webinars
Upcoming CE Classes Voluntary Benefits Ethics Business Income
Upcoming Community Webinars Commercial Property Forms Insuring Winery’s
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