how to think like a start-up: achieving a customer-centric culture
TRANSCRIPT
How to think like a start-up:
© 2016 Willis Towers Watson. All rights reserved.
Achieving a customer-centric culture
Angel Hoover – EMEA Region Talent Management and
Organizational Alignment Practice Leader
30 September 2016
2© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only.
Clients do not come first.
Employees come first.
If you take care of your
employees, they will take
care of the clients.
Richard Branson
Customer Centricity is at the
Heart of Insurance Companies’ Strategies
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 3
The whole customer experience will take on
greater importance from when they start to look for
information to when their contract is up for renewal
We aim to be simpler and smarter with our
new products for consumers, that are easy
to understand, use, connected, personalised
and modular…
Emphasising customer experience driven by digital
- We put Digital First. This is how we will capitalise
on being a True Customer Composite…
Loyal Customers - serving our customers’
need for financial security throughout
their lifetimes by providing digitally enabled,
omni-channel, accessible solutions and superior
customer experience…
Building on our strong foundations, we will
reinforce our leading position by focusing our
efforts in five fields of action: putting our
customers at the heart of everything we do;
becoming Digital by Default...
Allianz Group, Annual Report, 2015
Generali Group, Annual Report, 2015
Aviva Annual Report, 2015
Aegon Group Strategy, 2016
Which of the following is more dominant in your organization?
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 4
Efficiency Quality Innovation Customer Service Company Image
Comprehensive
training in basic
processes
Precise job roles
Disciplined
workload allocation
Clear and effective
structure
Data-driven
assessment
Coordination of
efforts
Best practices
exchange
Empowerment to
improve processes
Disciplined use of
performance data
Long-term focus
Advanced training
Superior processes
Diverse thought
and opinion
Support for risk
taking
Bias for action
Anticipating
emerging needs
Consistently
recognizing new
ideas
Leadership clarity
on future priorities
Continual
information flow
Positive team
relationships
Strong customer
knowledge
Supportive
systems
Career
development/
Talent retention
Local decision-
making and
empowerment
Brand promise
engrained
Strong belief in
product
Deep pride
Integrity guides
business
Environment
reflects brand
Leadership
inspires respect
Strategic Business Priority/Culture FrameworkC
ultura
l In
dic
ato
rs
?
Key features of a customer-centric culture
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 5
Belief In Products and
Service Quality
Continual
Information Flow
Career Development/
Talent Retention Leadership...
Positive Team
Relationships
Local Decision-Making
& Empowerment
Performance
Management
Supportive Systems
Strong Customer
Knowledge
attract, retainand engage talent that
builds strong customer relationships by
empowering people, emphasizing teamwork and focusing on long-
term development
How does that translate into a customer-centric human capital strategy?
Blended learning solutions, including role play and
facilitated dialogue; leaders as role models
Identify strongest performers; evaluate customer outcomes and decision empowerment
Reward performance that drives customer value, satisfaction and retention
Competencies include: Company Ambassadorship, Customer Focus, Decision Making, Delegation, Developing People, Problem Solving
Focus on managing readiness and mitigating transition/vacancy risk;
maintain strong/deep talent pipeline
Build talent who fosters and sustains customer relationships
Screen for EQ (e.g., personality tests, interview screening); group-based interview supplement
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 5
Talent Acquisition/
Sourcing
Performance Management
Compensation and Rewards
Career Management
Succession Management
Leadership and Capability Development
Workforce Planning
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 7
And then there are the impacts of consumer demand for Digital…
The Organisational Impact: The employment relationship is changing
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 8
The plurality of work options is here…
Artificial
IntelligenceRobotics
AlliancesOther types of
workers
OutsourcingTraditional
employees
VolunteersTalent platforms
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 9
Use of non-employee talent is increasing and having an impact on business
Changing the workforce significantly
Growth in share
of non-employee talent
expected over next
three years
25% globally
24%globally
46%globally
54%globally
Of all managers say
they manage at least
one contingent worker
on their team
Of all managers say
they manage at least
one contractor
Of companies report changing
their workforce activities enabling
them to use more non-employee
talent due to digital/ technology
now or in in the next three years
47% EMEA
27% EMEA
41% EMEA
54% EMEA
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 10
The Employee Impact: The skills we need from employees has changed
Which digital skills are more relevant?
Analytics
Only 21% rated their
company’s analytics“ as more than adequate” skills
Social
Only 13% of companies
described their social media efforts as advanced
Mobile
Over 50% of companies
realize that mobile is one of the most important skills for digital
transformation
Even millennials lack digital skills (1/5 lack analytical skills)
This talent shortage is creating a new war of talent
Source: The Digital Talent GAP. Developing Skills for today’s digital organizations. Capgemini.2013.
The Operating Model Impact: Moving from traditional to dynamic
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 11
Future
2020 and Beyond
Present
1980 – 2020
Past
1980 – 2000
The Job Impact: Automation and digitization are changing what is needed
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 12
Forces organizations to reconfigure their workforce and working models
Potential
Job
Eliminations
Automation
Advances
Source: “The Robots are Coming for Wall Street”, The New York Times Magazine, Nathaniel Popper
Over the next 20 years, jobs in the financial services industry are considered at “high risk” of automation –
more than any other skilled industry – about 54% of all jobs may be eliminated
Administrative clerks
Branch staff
Phone-based stock traders and
stockbrokers
Financial analysts
Researchers
Loan processing
Financial advisors/brokers
Institutional traders
Client-facing positions (e.g.,
salespeople)
Information processing-focused
positions
Financial advisors
Electronic stock tickers and trading
tickets
Increased automation of core
processes
ATMs
Rapidly declining prices of automation
software
Rise of pattern recognition by software
(i.e., machine learning) for investment
analysis
Rise of robots for lending and advice
Artificial intelligence scalability (i.e.,
computers that are able to
anticipate needs and complete
tasks independently)
Information processing digitization
0.5
0.5
0.4
0.6
1.2
Norway
Sweden
Netherlands
Germany
Poland
Czech Rep -0.8
Considering the fact that the war for talent is increasing ...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 14
Deficit countries
Surplus countries
At equilibrium
UK 0.9
France 0.7
Spain 0.2
Austria 0.4
Switzerland 0.5
Italy 0.8
Greece 0.7
Morocco -0.8
Turkey 0.7
Egypt -0.7
Saudi Arabia -0.2
United Arab Emirates -0.2
Qatar -0.6
South Africa -1.0
Canada 0.9
USA 0.8
Mexico 0.1
Columbia -1.1
Argentina 0.1
Brazil -0.1
Chile 1.0
Peru -0.6
Bermuda -0.1
Russia 0.1
South Korea 0.9
Japan 1.4
Philippines -0.2
Thailand 0.6
Malaysia -0.1
Indonesia -1.5
Singapore 0.6
China -0.0
India -2.1
Australia 0.5
Source: Global Talent 2021 Study conducted by Oxford Economics and Towers Watson, 2012
To forward your customer centric culture
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 15
70%of employees believe
their organization
should understand
them to the same
degree that employees
are expected to
understand external
customers
43%Percent of
employees report
having an
employer that
understands
them in this way
Treat your employees like you treat your customers
What do they want?
They want organisations to make it Personal…and Social…
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 16
Creating a customer centric culture is relatively simple...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 17
Customer at
the Center
Customer Centricity: the
customer at the center of
every decision, process,
procedure…
Digitalization
and
Digital Skills
Digitalization: a core focus
in insurance, requires new
skills, jobs and operating
models in the workplace
Alternative
Employment
Deals
Alternative employment
deals to address future
talent needs
Treat
Employees
as
Customers
Customer Centricity and
Employee Centricity: Two
sides of the same coin
Questions?
© 2016 Willis Towers Watson. All rights reserved.
Angel Hoover – EMEA Region Talent Management and Organizational
Alignment Practice Leader