Navigating Change River…Together
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Navigating Change River…Together
- 1. Navigating Change River ...Together Lois Raats MEd CCC BCC Founder & Principal Consultant Ready2Grow Associates ready2grow.com
- 2. Lois Raats MEd CCC BCC Founder & Principal Consultant Ready2Grow Associates • Strategic Planning • Change Leadership • Business Development • 25+ years’ experience across all sectors & industries • Email: lois@ready2grow.com • Twitter: @ready2growlois ready2grow.com
- 3. Today We’ll Explore: • Changes, challenges and opportunities in the mutual insurance industry. • Issues that emerge from these shifts. • How change leaders can address issues and embrace the future. • How to build a company and an industry culture that supports growth. ready2grow.com
- 5. #1. “What’s happening?” • Notice the shift. • “Deer in the headlights”. • Don’t know what to do. • Keep doing what I’ve always done - harder! • Do it myself. ready2grow.com
- 6. #2. Stop. Consider. • What I’m doing isn’t working! • Stop doing it. • Do something different. • What are my options? ready2grow.com
- 7. Initial Response ready2grow.com Less Helpful More Helpful Anxious Challenged Afraid Excited Overwhelmed Energized Frustrated Adaptable Resist change Embrace change
- 8. #3. Reach out. • “Dan! We’re gonna crash! • We need to do something different! • What should we do?” ready2grow.com
- 10. Inner Shift ready2grow.com Less Helpful More Helpful Anxious Challenged Afraid Excited Overwhelmed Energized Frustrated Adaptable Resist change Embrace change
- 11. #5. Lead Change. • Lead. • Sometimes follow. • Collaborate. • Communicate! • Solve problems together. ready2grow.com
- 12. 1. “What’s happening?” CHALLENGES • Competitive environment colliding with collaborative identity. • Enforced rapid change vs. organic change. • Gov’t intervention impacting revenue models. • Expensive but necessary technology. • Aging leadership. • Younger clients and employees. • Consolidations & mergers. ready2grow.com
- 13. 2. Stop and Consider. Challenge: Values Issue: Our landscape has changed irrevocably. What values remain key to our identity? • Individual, company, industry • Collaboration. Competition. Others. Important: Reduce anxiety. Deepen the dialogue. ready2grow.com
- 14. Stop and Consider. Challenge: Innovation Issues: • How can we focus more attention on R&D both as individual companies and as an industry? • What projects would we enjoy collaborating on as an industry? • What collaborative projects will help to re- energize our industry /company brand? ready2grow.com
- 15. Stop and Consider. Challenge: Consolidation Issue: 1. Who is best equipped to survive? 2. What are the best solutions – for the industry, brokers, clients? 3. While individually established, merged companies face many of the same challenges as start-ups: brand, business model, team roles, markets, and so on. ready2grow.com
- 16. Stop and Consider. Challenge: Talent Issue: How can we become more attractive to younger players? • Compelling industry brand • Compelling company brand • Compelling, engaging communications that help to attract and retain talent ready2grow.com
- 17. ready2grow.com
- 18. GenY: “We are…” • Independent-minded • Value individual differences • Self-focused • Presented-oriented • Connected • Hungry to learn and develop • Want to make a difference ready2grow.com
- 19. GenY: “We what to work for a company with…” • Strong connections • “Triple bottom line”: profit, people, planet • Digitally connected • Learning organization • Small teams • Close to home (i.e. mutual insurance industry?…) ready2grow.com
- 20. GenY: “We want our leaders to be…” • Authentic / relatable • Independent thinker • Visionary / inspiring • Goal-oriented • Clear communicator • Collaborative team leader ready2grow.com
- 21. Stop and Consider. OPPORTUNITIES • Celebrate history, tradition, values • Reimagine future vision • Renew industry and overall culture • Collaborate across the industry • Innovate across the industry • Engage the next generation ready2grow.com
- 22. Stop and Consider. What is required? Change Leadership “Inside out, bottom up” • Individual • Company • Industry ready2grow.com
- 23. 3. Reach out. Become a Culture-Builder. Lessons from CEOs: • Strengthen strengths. • Lead from core identity: values, purpose, mission, and vision. • Reinforce desired behaviours. • Seek input from all stakeholders. • Create a shared story. • Communicate continually to deepen community. ready2grow.com
- 24. Why Culture Change is Difficult. 1. Culture is invisible. 2. Culture is not easily measured. 3. The forces that shape it are poorly understood. 4. Culture is shaped through conversations. 5. Conversations carry emotions and are shaped by beliefs. 6. People would rather avoid these conversations because they are often not comfortable. ready2grow.com
- 25. Special Culture Challenges of Consolidation “Cut and Paste” Symptoms: • Games: Us-Them, Winner-Loser, Persecutor- Victim, Big Fish-Small Fish mentalities • Feelings – anxiety, grief, loss. “Will I lose my job? How will my job change? Will I like the new people? Do I have to relocate? Will I like my new boss?” etc. etc. • “Acting out” behaviour. Protectionism, silos, “presentee-ism”, powerlessness - passive- aggressive behaviour ready2grow.com
- 26. Leading Culture Change during Industry Changes / Consolidations • Acknowledge natural emotional reactions to change. • Review and renew Values. • Reshape a compelling Vision that inspires action. • Clarify and renew Purpose and Mission. • Rebuild teams. • Build buy-in and alignment with new vision through culture. • Motivate and reward new behaviour. • Attract & retain the right talent. ready2grow.com
- 27. Energy System: ROOTS & FRUITS ready2grow.com MISSION PURPOSE VALUES Marketing Customer Care Sales Team & Network Finances C U L T U R E VISIONTech & Data Strategy Culture Innovation Leader Skills ECOSYSTEM
- 28. • Visible values, purpose, mission. • Walk the talk. • Set culture as an agenda item in every meeting. e.g. Choose one value statement. Ask them what it means, and when it’s been in play this week. • Collect and tell stories that reflect our values and purpose. Ways to Communicate Culture Internally ready2grow.com
- 29. • Create a suggestion box. • Post answers to suggestions and encourage responses. • Seek “Caught you doing right” feedback – offer praise. • Use social media to communicate values, purpose, and vision with your staff. Ways to Communicate Culture Internally cont’d ready2grow.com
- 31. Culture Shifts ready2grow.com FREEDOM CONTROL INTERNAL FOCUS EXTERNAL FOCUS CLAN Values Relationships Family Businesses Professional Services Values Innovation High Tech HIERARCHY Values Stability Traditional Mfg. / Insurance MARKET Values Efficiency Progressive Mfg. ADHOCRACY Earlier Stage Later Stage
- 32. 3. Reach Out. Core Characteristics of a Culture that Supports Growth • Engagement • Alignment • Learning • Shared Leadership ready2grow.com
- 33. Engaged Employees… • Work for more than just money. • PASSIONATE – Care about their work. • COMPETENT – Do things well. • LEADERS – Take ownership for the outcome. ready2grow.com
- 34. Aligned Employees… • Understand the core vision, values, purpose and mission of the organization. • Apply the above on a daily basis according to the guiding principles. • Solve problems in an agile fashion: given freedom to decide, fail, and learn. ready2grow.com
- 35. Learning Employees Are encouraged to be: • Curious • Innovative • Learn from mistakes • Build team synergy ready2grow.com
- 36. Shared Leadership The best practice for teams is shared leadership. Leaders: • Are self-directed. • Take responsibility and get the job done, whatever it takes. • Have clear boundaries. • Think strategically, not just tactically. ready2grow.com
- 37. #4. Inner Shift Required. ready2grow.com
- 39. 4. Inner Shift Which paradigm? ready2grow.com Less Helpful More Helpful Anxious Challenged Afraid Excited Overwhelmed Energized Frustrated Adaptable Resist change Embrace change
- 40. ready2grow.com
- 41. 5. Equipped to Lead Change • Clear understanding of the challenges. • Renewed values, purpose, and mission. • An inspiring and worthwhile vision. • An engaged, aligned, and self-directed team. • A supportive ecosystem of industry associations and partners who foster growth. • So that you are fully equipped to embrace the future with hope and confidence. ready2grow.com
- 42. Today we have taken time to… • Notice what’s up: Changes, challenges, and opportunities. • Stop and consider. What are the issues? • Seek input together. How can we work together to resolve them? • Shift and enjoy the ride. • Say a hearty YES! to change. ready2grow.com
- 43. Thank You! www.ready2grow.com lois@ready2grow.com I look forward to connecting with you on LinkedIn and Twitter @ready2growlois ready2grow.com
Notas do Editor
- 1
- Thanks for the introduction. I’m really excited to be here. I help business owners strengthen and improve their businesses so that they can get better at making the difference they want to make in the world. Down there below on the right you will see my husband Dan, who has supported me in so many ways over the last 31 years. Can’t join us today because he’s working at SunLife. For the last 18 years, he’s worked at SunLife as a Data Analyst, currently involved in fraud detection. Well, actually, he’s worked for The Mutual Group, which bought Prudential and MetLife, demutualized and became Clarica, which was then bought out by SunLife. So from basically the same desk, he has worked for 3 different insurance companies over the last 18 years. I’ll tell another story that includes him in a minute…
- I’d like to share a story about Dan and I. As I’m doing so, I’d like you to listen for strategies I used to work with this experience. Reflect on how these strategies relate to you in your company, as well as to the industry as a whole. How many of you are boaters or canoe-ers? Been to Algonquin Park? My husband Dan and I love to canoe. Every few years we find ourselves in Algonquin. On this particular Saturday afternoon last fall, we’d started off at our resort, and paddled up through Canoe Lake, over the portage to Joe Lake, into Little Joe Lake, and back out. Really nice little afternoon excursion. Doing my thing…right side, left side… We’ve gone through Canoe, up through Joe Lake, into Little Joe Lake, and back out. Nice little 5 hour trip. Just in sights of the resort on the way back. Something shifted. Did God reach down his finger and stir the lake? I don’t know but that’s what it felt like. Suddenly we’re being swept toward the shore on tour left side. Rocks, roots, stumps, trees, it’s fall, water is cold…I didn’t want to go in there. So I have a decision to make. What am I going to do? Under normal conditions Wind came up Currents changed We needed to alter our course We needed to alter our modus operandi Started both padding on the same side We were in extraordinary conditions we needed a plan We tried the usual … We weren’t really in mortal danger here. We knew it was pretty unlikely that our canoe would go down. But still… There was that moment when the adrenaline was flowing bigtime. The urgent immediately became the important. All those feelings you get when you’re encountering a change you don’t yet know how to manage. I’ve entitled today’s presentation “Navigating Change River…Together”. Because things are changing rapidly. The future is not certain. What we used to do is not necessarily producing the results we want. The people in the boat are not even necessarily the best ones for the job. But the job must be done. The river must be navigated. The goal must be reached. And we’re all in this together. And I’m hoping you will not only think about it here. But that you will take your insights and discuss them with your peers – over break or lunch. Because we don’t often enough get a chance to think about things collectively, do we? We’re too busy chopping trees in our own forest to ask as the question – what are we doing in this forest?
- In the midst of all this, I suddenly found myself flooded with adrenaline. I realized I was actually having fun!
- In order to lead change, you have to start by embracing it. Once we overcome our anxiety and doubt, we can start to enjoy ourselves.
- Rocks, roots, water… Progressive companies are always asking “what’s happening?” Always scanning the horizon. Spoke to 4 industry CEO’s in preparation for this talk. Some themes emerged. Let’s take a closer look.
- What is so core to us that we will not be able to change it without radically altering who we are as an industry
- One CEO noticed that even though there may be money available, there hasn’t been a concerted effort to use that money to prepare for the future.
- Brokers need larger territories. Consolidation / mergers. Immediate solution, but longer-term challenges. Danger is you have companies with histories and traditions, but together they basically comprise a start-up. Need to overcome aversion to change, build a new common vision, align the teams, develop culture that supports new vision. Plan changes. Communicate changes effectively to team. Fewer but larger brokers. Brokers have 91% of the Canadian commercial market - creates opportunities to cross-sell personal insurance to existing customers. http://www.canadianunderwriter.ca/news/cip-society-speakers-discuss-impact-of-direct-writers/1002258875/?&er=NA
- Succession planning nil and too late. Retirements of senior officers. Have leaders been identified, mentored, and equipped for leadership? Attracting younger talent. They accept new tech easier. But as a group, they want rewards prior to putting in time. They don’t have the patience to put in the time. Want balance & benefits. New management models are needed. (What are they?) Compensation and rewards are different. Increased benefits, recognition. Not necessarily more expensive. They’re adaptable. Positive acceptance of mutual culture. Our philosophy meshes with theirs. Will look at total package e.g. Salary not everything.
- Canny 1. we are very focused on ourselves, we have a fast-paced life, we think more about the present than the future 2. someone that is inspiring, relatable, and passionate about their work/company 3. open to innovation/creativity, a company that involves its lower members Gunjan a) We are connected; not distracted. b) We have an unlimited need to learn. c) The way we express our curiosity is a reflection of our individual personalities (i.e. if I meet someone, I will immediately find them on social media and try to determine a mutual interest because I like to talk to people.) a) Charisma. b) Open-minded. c) Creative. A digitally-connected, open-minded environment in which I feel comfortable in expressing my opinions, ideas, and stepping up to go above and beyond my role. Carson 1. We want: Apple Computers, 10 - 6 working hours, Office close to home 2. Goal oriented, financially responsible, clear communicator 3. Onboarding activities for new employees, small teams, celebrate success benchmarks, learning opportunities / conferences Chungsoon 1 - most connected; not satisfied with the norm; looking to do meaningful work 2 - challenges the status quo; will support ideas with no fear of losing own status; does not view employees as employees, but as friends 3 - I would like to work at a company with a triple bottom line
- Canny 1. we are very focused on ourselves, we have a fast-paced life, we think more about the present than the future 2. someone that is inspiring, relatable, and passionate about their work/company 3. open to innovation/creativity, a company that involves its lower members Gunjan a) We are connected; not distracted. b) We have an unlimited need to learn. c) The way we express our curiosity is a reflection of our individual personalities (i.e. if I meet someone, I will immediately find them on social media and try to determine a mutual interest because I like to talk to people.) a) Charisma. b) Open-minded. c) Creative. A digitally-connected, open-minded environment in which I feel comfortable in expressing my opinions, ideas, and stepping up to go above and beyond my role. Carson 1. We want: Apple Computers, 10 - 6 working hours, Office close to home 2. Goal oriented, financially responsible, clear communicator 3. Onboarding activities for new employees, small teams, celebrate success benchmarks, learning opportunities / conferences Chungsoon 1 - most connected; not satisfied with the norm; looking to do meaningful work 2 - challenges the status quo; will support ideas with no fear of losing own status; does not view employees as employees, but as friends 3 - I would like to work at a company with a triple bottom line
- Canny 1. we are very focused on ourselves, we have a fast-paced life, we think more about the present than the future 2. someone that is inspiring, relatable, and passionate about their work/company 3. open to innovation/creativity, a company that involves its lower members Gunjan a) We are connected; not distracted. b) We have an unlimited need to learn. c) The way we express our curiosity is a reflection of our individual personalities (i.e. if I meet someone, I will immediately find them on social media and try to determine a mutual interest because I like to talk to people.) a) Charisma. b) Open-minded. c) Creative. A digitally-connected, open-minded environment in which I feel comfortable in expressing my opinions, ideas, and stepping up to go above and beyond my role. Carson 1. We want: Apple Computers, 10 - 6 working hours, Office close to home 2. Goal oriented, financially responsible, clear communicator 3. Onboarding activities for new employees, small teams, celebrate success benchmarks, learning opportunities / conferences Chungsoon 1 - most connected; not satisfied with the norm; looking to do meaningful work 2 - challenges the status quo; will support ideas with no fear of losing own status; does not view employees as employees, but as friends 3 - I would like to work at a company with a triple bottom line
- So as leaders, we have many opportunities
- Leadership that deepens conversations about issues, and increases possibilities for future solutions. Inside out 360 – where people tell you what they think of your leadership Bottom up Seek input from all of our stakeholders to deepen connections and increase engagement.
- Above all, they’re culture-builders.
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- This diagram gives us a way of thinking about the kind of cultural shifts that our current marketplace is requiring from us. Quadrants Left side Right side Earlier stage/smaller companies often have a clan culture based in relationships. As they’ve matured and needed to create system to manage growth, many have migrate to a hierarchical model. Marketplace requires a shift from left to right. Important questions: What are the shifts we need to make? In what ways and to what extent will we get involved in these required shifts? How can we make the necessary shifts without 1. Alienating current employees and customers. 2. Losing our identity.
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- When energy is flowing freely through the system, we generate life. To energize our companies, we need to create the conditions that build lively individuals. To energize our industry, we build lively organizations with strong interconnections.
- I trust that if you can rise to the challenges you will be equipped to lead change. Redefining Values Shaping a common Vision Clarifying Purpose and Mission Rebuilding teams Building buy-in and alignment with new vision Motivating and rewarding new behaviour