Business Planning

MANAGING ADVISOR TURNOVER USING MATCHING RELATIONSHIPS

Managing Advisor Turnover using Matching Relationships

Does your firm face the standard insurance industry problem that only 10 to 15% of the advisors and agents who start in the business are still with them after 5 years? Then, of those who stay after 5 years, how many are strongly committed to your firm? Or, are they producing at the desired rate?

Meeting this challenge starts with improving how the home office uniquely manages each advisor in the field. Then, it is about helping the field force be more successful in engaging their clients (policy holders).

In recent times, we have been helping some of the worlds leading insurance firms significantly boost the levels of field force engagement, thereby leading to more profitable business relationships. Our approach has been to help these insurance firms embrace behavioral marketing and talent segmentation strategies based on validated behavioral science insights. These strategies start by discovering the unique communication and learning style of each person in their field force enabling the firm can more deeply connect with them and provide greater sales assistance.

Being specific, by segmenting each person into one of 4 primary communication styles we have helped these leading insurance firms to:

1. ?Create customized marketing plans which re-frame the key messages for each advisor in the field force

2. ?Provide tailored sales programs and presentations for each advisor based on their style so that they can then adapt to the style of each prospect and customer

3. ?Match the talents and communication style of each advisor to their ideal clients to improve the chances of deeper levels of connection with less energy

4. ?Align advisors to the types of insurance product solutions that they would optimally sell based on their specific behavioral talents

5. ?Help advisors to form teams with other advisors who have different talents so that they can capitalize on more opportunities as a collective unit

6. ?Build online communities for advisors and clients to meet, and be continuously educated

7. ?Develop hiring and retention metrics to ensure that the best talent is retained and resourced for success

If you would like to schedule a conversation with one of our Relationship Management Integrators to explore how our suite of DNA Behavior Solutions generates significant ROI benefits, then please email us at inquiries@dnabehavior.com .

5 Keys to Behaviorally Smart Hiring: Dont rely solely on resume, concentrate on who the person is

Great resumes can be bought. Behaviors cant be.

The only way to effectively hire and retain candidates is to ensure you not only fit the right skills to the right job but that you also find the right cultural and behavioral style fit for the role and team.

Validating behavioral intelligence will deepen engagement in each human interaction the candidate will have in the business as part of their performance. A person’s skills will be a moot point if he or she can’t effectively interact with the team and/or customers or if the person is a social butterfly when a task-oriented person is needed.? The process of exploring and validating behavioral intelligence should also uncover life and business decision-making patterns as this could determine whether or not a candidate will be a long-term, loyal, and successful hire.

Happy Candidate in the Right Role

Key 1: Alignment of vision and life direction; engaging head, heart, and talent

Ask questions to discover if the vision and direction the candidate has for his or her life aligns with the vision and direction of the organization. Another important question to investigate is whether the organization can deliver its part to bring a successful outworking of the candidates vision and life direction? If the answer is yes ? then not only will it be a great hire, but likely a long-term relationship. An individual is less likely to consider leaving when he or she is a part of working towards a shared key goal or milestone.

Key 2: Uncover life and decision making patterns

Understanding how to communicate effectively is the most valuable route to uncovering behaviors, decision making patterns and strengthening engagement. Knowing the communication style of each candidate prior to the hiring interview will enable the interviewing panel to customize their questions to the individuals communication style.

To be able to effectively uncover life and decision making patterns, its important to understand how to communicate and the right questions to ask.Gaining insight into the communication and behavioral style of a candidate will reveal how well the individual/ he or she will fit with colleagues and respond to managers and supervisors.

Key 3: Match behaviors as well as talents to the role–having the skills to do the job isnt enough

It is best to keep in mind, however, that having the skills to do the job isnt enough. People want to work with meaning. Jobseekers will apply for positions they feel match their skills but often the hiring process fails to match both talents and behaviors to the job. Whilst organizations need to secure the talent necessary for the success of the business, matching behaviors as well as talents to roles builds foundational blocks for long-term success.

Key 4: Dont hire yourself

The trap many hiring panels fall into is assuming that a great exchange between candidate and hiring panel translates to best role fit. To avoid this pitfall, the interview panel needs to understand their own individual and collective behavior, communication and decision-making style in advance. This awareness will enable the panel to adapt their communication and interviewing style to the candidates. It is natural to feel more comfortable with communication that mirrors ones own style. Conversely, its also the case that there could be an adverse response to communication styles that do not align.

Key 5: Be known as a champion organization; one that has candidates lining up to get in. Everyone wants to work for a winner. ?

Be Known as a Champion Organization

Understand and implement each of these 5 keys and you are more likely to hire effectively and retain top talent. People want to work for an organization that values talent, communicates effectively, and is known not only for its success in business but its inherent ability to know, understand and engage with employees to get the very best out of them/unlock their potential. Having a reputation as an organization that delivers their employees vision, in addition to delivering the vision of the business, will attract top talent.

Key 1: Alignment of vision and life direction; engaging head, heart, and talent.

Key 2: Uncover life and decision making patterns.

Key 3: Match behaviors as well as talents to the role; having the skills to do the job isnt enough.

Key 4: Dont hire yourself

Key 5: Be known as a champion organization; one that has candidates lining up to get in. Everyone wants to for a winner.

Theres no such thing as the perfect candidate. Look for candidates who canperform at the job with a bit of training and practice but have a communication and behavioral style thats best fit with your current team dynamics.

Remember: Great resumes can be bought. Behaviors cant be.

Leadership Decision-Making Through Intuition

As a leader you are faced with making difficult decisions every day. Often these decisions are complex with many factors to be considered. Hopefully, you will make many more right decisions than bad ones. Following your intuition is important. More often than not your gut feel is right. Nevertheless, it is also important to have the right decision making framework and not allow over analysis to get in the way.leadership development, leadership business, decision-making

Shelley Row, a strategic partner of DNA Behavior has written a great article on Leadership Decision Theory that addresses this point. Please refer to the 4 Styles of Decision-making, or contact Shelley at shelley@shelleyrow.com

The key to successfully using your intuition is firstly to know you have it and when it is working. You should not be afraid of it but also not be blind to its operation and such not be listening to it properly.? In my experience, the starting point to getting in touch with your intuition is to know who you are at the core and from there recognize your instinctive decision-making style. Then, with that self-knowledge having the capacity to manage your behavior particularly when your emotions are triggered.

Ultimately, it gets down to having trust in yourself. If you want to build more trust in yourself and have greater confidence in your decision-making start by learning your Natural DNA Behavior Style.

To learn more about discovering your decision-making style and how you are performing, please email us at inquiries@dnabehavior.com

What Makes a Great Boss?

The ability of a leader to engage their team is a hot topic these days. The pressure of getting results can often make it difficult to do. Further, typically, many of the people in leadership positions are naturally results oriented people in their behavioral style. You do not see as many leaders who are naturally relationship oriented.

So, the key is how do the results oriented leaders adapt and engage their team on a relationship basis?

What Makes a Great BossA key to this is that the leader firstly understands their own strengths and struggles, and then knows the same of their team members. The team members need to feel understood and be managed uniquely, which means the leader has to adapt. This is what provides the more customized work place experience. The team will then feel appreciated and connected with.

However, there are many more things leaders have to do to in terms of their approach to leadership beyond behavioral awareness. Although, a behaviorally aware leader will more naturally be able to manage his or her team respectfully and meaningfully.

The following article in Inc magazine provides a great list of 10 things bosses can do to engage their employees once they have behavioral awareness – Click Here to Read the article.

The ability of a leader to engage their team is a hot topic these days. The pressure of getting results can often make it difficult to do. Further, typically, many of the people in leadership positions are naturally results oriented people in their behavioral style. You do not see as many leaders who are naturally relationship oriented.

So, the key is how do the results oriented leaders adapt and engage their team on a relationship basis?

A key to this is that the leader firstly understands their own strengths and struggles, and then knows the same of their team members. The team members need to feel understood and be managed uniquely, which means the leader has to adapt. This is what provides the more customized work place experience. The team will then feel appreciated and connected with.

However, there are many more things leaders have to do to in terms of their approach to leadership beyond behavioral awareness. Although, a behaviorally aware leader will more naturally be able to manage his or her team respectfully and meaningfully.

The following article in Inc magazine provides a great list of 10 things bosses can do to engage their employees once they have behavioral awareness: http://www.inc.com/jeff-haden/10-things-extraordinary-bosses-do-for-their-employees.html#!

The ability of a leader to engage their team is a hot topic these days. The pressure of getting results can often make it difficult to do. Further, typically, many of the people in leadership positions are naturally results oriented people in their behavioral style. You do not see as many leaders who are naturally relationship oriented.

So, the key is how do the results oriented leaders adapt and engage their team on a relationship basis?

A key to this is that the leader firstly understands their own strengths and struggles, and then knows the same of their team members. The team members need to feel understood and be managed uniquely, which means the leader has to adapt. This is what provides the more customized work place experience. The team will then feel appreciated and connected with.

However, there are many more things leaders have to do to in terms of their approach to leadership beyond behavioral awareness. Although, a behaviorally aware leader will more naturally be able to manage his or her team respectfully and meaningfully.

The following article in Inc magazine provides a great list of 10 things bosses can do to engage their employees once they have behavioral awareness – Click here to read the article.

Developing Unrealized Potential in Your Staff

I remember attending a workshop for managers presented by Stephen Covey when he asked the question “At what level are your staff resources being utilized?” He directed people to raise their hands if it was 95%, 80% and so on. Sadly, of the 800 plus people in attendance, very few could claim any substantial use of these resources. Covey made his point. It emphasized to me that really no-one (statistically speaking) believes that they are exploiting (in the good sense) the talents and possible contributions of their people. The tragedy here is that this is a lose-lose situation. People long to be a part of something that is significant, and companies want highly performing teams that produce results. This combination is not so common. I left wondering if it were really possible to attain such a lofty goal.

My study of the humanities over the years has convinced me that it is possible, when we both understand and know how to truly incent human beings, and actually put it into practice. The principles are actually very simple, yet it’s hard to obtain. Why? It’s because truth is apparent, but it’s not intuitive. I liken the task to be somewhat similar to training a Golden Retriever. When training a dog, you have to use positive incentives and stimulus that reinforces good behavior. If you want him to sit by the door and use your back yard for his bathroom, it will not help to beat him with a rolled up newspaper until he gets it right. One has to be patient, use treats and encouragement, to convert the animal into man’s best friend. People are much the same-they do not respond to, or appreciate being shamed, guilted or punished to perform well. If we can see clearly how it works in the animal world, then why is it so hard to do with humans?

The fact is, there are some professional practices and techniques that really work. After we adopted Bailey, our Golden Retriever, I took him to an obedience class and learned from the experts how to turn this beast into one of the most obedient and pleasant household pets. I could not have done it on my own. What I was taught made sense, but actually putting the principles into practice was tough.

To truly develop the unrealized potential of our staff, we must, as managers, use the following incentives:

  • Make them think. We call them out through discovery-based probing, by asking questions of them rather than giving them answers. It’s just like a college test. If we know we have to pass the test to graduate, we will study the material. No test I’ve ever taken began by giving me the answers. Telling bosses must convert their knowledge base into curious questioning that makes the staff member think. Once the manager finds good thinking, he must give that person a reward. It’s called encouragement.
  • Create a career path. True delegation is a staff development system. We should delegate primarily to develop the unrealized potential in our staff, versus working to just get stuff off our plates. The best way to do this is to employ levels of freedom for tasks we want to transition, then use the questioning process above to cultivate good judgment in them, which will translate into good decisions through repetition. Using a professional roles and responsibilities process works like a charm.
  • Provide stretch assignments. Using the battery of wholesome human incentives, as in athletic training, we build muscle and competency at one level, then “push” them to go further. When I first started to run as a way to stay healthy, I never imagined I could actually complete a marathon. Twenty two races later, I’ve learned to love the 26.2 course, and find it somewhat normal. We can all do much more than we think we can. We need a good coach (professional manager) to believe in us and encourage us along the way. It’s a process of cultivation that involves patience, time, and hard work. Only, they (our staff) have to do the hard work-the thinking, making judgments and the actual performing.

As mentioned above, to grow in academic prowess, as students we are provided materials (classroom training and books), but when it comes to applying that knowledge, we face tests. To review: the “tests” we provide our staff are in managerial questioning in the delegation and stretch request process-it develops unrealized potential. To short circuit that process, frustrate both boss and employee, and with shame hide rather than raise our hand at the next Stephen Covey like management seminar, just be a telling boss. High performing teams are cultivated over time; it’s a process that involves professional management skills and techniques focused on known human incentives. Does it make sense? Yes. Is it easy? No.

Coaching questions: Where might you being employing the “newspaper” therapy with your staff? How might you better incent them to be happy, loyal, performing employees? Write your answers in your journal.

Read more coaching principles from Dean Harbry on the Internal Innovations website.

Using an Enterprise Behavioral Program to develop Operational Insights

People problems within multi-function corporate teams are often the result of a lack of Interpersonal Operational Insights based on behavioral assessments. business operations strategy, business dna, dna behavior, arete global consulting

While executives have a multitude of metrics and bench-marked data to run other aspects of their businesses, they generally lack the ability to measure and track behavioral aspects of their organizations that are clearly critical to success.

The implementation of an Enterprise Behavioral Program will allow organizations to internally enhance their hiring expertise, goal collaboration, executive coaching, leadership development, career management, interpersonal conflict resolution and develop customer and vendor insights to improve performance.

Learn how Arete Global Consulting is helping organizations succeed with behavioral assessments through their Enterprise Behavioral Program.