Not a Beauty Pageant! A True Search for Talent · Not a Beauty Pageant! A True Search for Talent:...

Confidential

Not a Beauty Pageant! A True

Search for Talent:

Juggling the Explosion of New

Innovative Tools for Human Resources

Who is NFP?

• NFP is a leading insurance broker and consultant that provides employee benefits,

property & casualty, retirement and individual private client solutions. Our expertise is

matched by our commitment to each client’s goals and is enhanced by our investments in

innovative technologies in the insurance brokerage and consulting space.

Over 150 offices across the United States

3,400+ employees

6 international offices across the U.K., Puerto Rico & Canada

Over 50,000 corporate clientsOver 50,000 corporate clients

Over 150 offices across the United States

4,300+ employees

6 international offices across the U.K., Puerto Rico & Canada

• World’s largest taxi company owns no Taxis: Uber

• The most popular media owner creates no content: Facebook

• Largest accommodation provider owns no real estate: Airbnb

• Largest phone companies own no telecom infrastructure: Skype, WeChat

• World’s most valuable retailer has no inventory: Alibaba

• Fastest growing banks have no actual money: SocietyOne

• The world’s largest movie house owns no cinemas: NetFlix

• Largest software vendors don’t write the apps: Google

Remember who was industry leading before these companies?

Drivers of Change: Innovation in our Industry

Key Drivers

5

Recognition that effective talent management pays off

Steady stream of product innovations driving efficiencies (TCO,

AI, Blockchain, Machine Learning, etc.)

Shifting workforce demographics

Key Drivers

6

Recognition that effective talent management pays off

Steady stream of product innovations driving efficiencies (TCO,

AI, Blockchain, Machine Learning, etc.)

Shifting workforce demographics

The Workforce Today

The Workforce TodayGenerational Span

8

Years Born:

% of the U.S. Workforce:

Additional Information:

Stereotypical Traits:

1980 - 2000

34%

50% of the global workforce

by 2020

• Tech savvy

• adaptable

• Collaborative

• Optimistic

Millennials (Gen Y)

1928 - 1945

2%

Most have aged out of the

workforce

• Adherence to hierarchy and

civic duty

• Rigid

• Inflexible

Traditionalists

1946 - 1964

29%

25.6% of U.S. workforce by

2022

• Service oriented

• Team players

• Loyal

• “Workaholics”

Baby Boomers

1965 - 1980

34%

Oldest are 50+ and aging out

of prime working years

• Thrive on flexibility

• Confident

• Prefer a more casual

environment

Gen-Xers

“Live to Work” “Work to Live”

The WorkforceEngagement

9

https://www.adp.com/spark/articles/2016/12/millennials-and-employee-benefits-generational-differences-matter.aspx#

Key Drivers

Recognition that effective talent management pays off

Steady stream of product innovations driving efficiencies (TCO,

AI, Blockchain, Machine Learning, etc.)

Shifting workforce demographics

2

Compelling industry findings to support increased

investment in Talent Management, from firms like

Bersin by Deloitte, Hackett Group, E&Y, Aberdeen, etc.

Orgs with best-in-class talent management practices

achieve:

• 29% higher employee engagement

• 26% higher revenue per employee

• 17% lower voluntary turnover

• 18% higher earnings

People Matter

More engaged employees drive productivity

Key Drivers

12

Recognition that effective talent management pays off

Steady stream of product innovations driving efficiencies

(TCO, AI, Blockchain, Machine Learning, etc.)

Shifting workforce demographics

Expected Efficiency

A combination of cost savings and more strategic use of resources

.

Roughly $500 is the difference between what median and top performer companies spend per employee.

Opportunity for a 100 employee company: $50,000 (500 employee = 50,000)

New HR technology will drive efficiency gains and associated cost savings

… related to both HR service delivery and IT infrastructure costs.

Confidential

The Market – By The Numbers

Insurtech/Digital Health

15

• Fueled by increased demand (the Affordable Care Act,

the pace of innovation outside of healthcare, and the

enormous opportunity for improvement in efficacy,

efficiency, and expense), healthcare innovation has

skyrocketed in recent years.

• 2017 was a record year for digital health investment,

surpassing every prior year and exceeding expectations

set at the start of the year.

• Google, IBM, Amazon and Microsoft have all invested

heavily in digital health

HRTech

16

Markets and Markets estimates the HCM

market in U.S. to grow from $12.6 Billion

USD in 2016 to $20 Billion USD by 2021,

at a 9.6% CAGR. This Includes Solutions

for Core HR, Talent Management, Payroll

and Tax, Workforce Planning, Analytics,

Recruiting … and RELATED Services

(Implementation, Training, Consulting)

Confidential

Product Innovation

The Tools – It’s all about the DATA

18

Using algorithms to drive better use of dataMachine Learning/AI

Creating a common database of health informationBlockchain

Monitoring health through personal devicesInternet of Things (IoT)G A T H E R

A N A L Y Z E

S T O R E

The Tools

19

The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances, and other

items embedded with electronics, software, sensors, actuators, and connectivity which enables these

things to connect, collect and exchange data.

IoT involves extending Internet connectivity beyond standard devices, such as desktops, laptops,

smartphones and tablets, to any range of traditionally dumb or non-internet-enabled physical devices

and everyday objects. Embedded with technology, these devices can communicate and interact over

the Internet, and they can be remotely monitored and controlled.

Monitoring health through personal devicesInternet of Things (IoT)

The Evolution of the IoT

The Evolution of the IoT

The Evolution of the Wearable Market

• Beginning in the 1980s with sports wearables,

personal devices tracked heartrate and steps taken.

• By 2010, the market included smart watches capable

of detecting detailed activity and sleep data

• With the prevalence of fitness

tracking devices, employers started

to use wearables in worksite wellness

programs

• Wearable companies started to

develop employer products, including

programming around devices

• Insurers explore providing smart watches

for free to improve client health.

• Increased interest in using wearables to

assist employees with chronic diseases.

• Recent partnerships include Aetna with

Apple and UHC with Samsung

• Remote monitoring already available in

cardiac and diabetes care

• Sensor based biometric data can be used

to generate health alerts shared with

providers and caretakers

• Wearables part of shift to continuous vs

annual care.

INDIVIDUALS EMPLOYERS INSURERS PROVIDERS

22

Wearable market

23

Smart Watches Fitness Trackers Smart Eyewear Medical DevicesSmart Clothing

52%

Increased 52% in 2015

Immediate Benefits

Increased morale, health data awareness, and productivity

Long Term

Savings in health care costs

35% of companies that participated in the 2016 Healthiest Employers Program

include wearable technology in their corporate wellness strategy. 4

Health Apps and Fitness Tracker Popularity2 Potential Benefits of Technology Interation3

Banking and Bill Pay

Mobile device apps to monitor

banking accounts and pay bills

1

Price Shopping

Online price comparison sites to shop for best deals

2

Investment Tracking

Tools to manage and track financial

investments regularly

3

Fitness Tracker

Wearable device to monitor

fitness activity

4

Diet Tracker

Apps to track diet

5

Medical Tracker

Apps to monitor health condition

6

Rest Tracker

Apps to monitor sleep / relaxation

7

24

In a recent study, employees indicated which types of tools and apps were important in

managing their health and well-being. Ranked in order of importance1:

1 Willis Towers Watson, 2015/2016 Global Benefits Attitudes Survey, U.S.2 https://www.engadget.com/2016/09/08/emerging-health-and-wellness-tech-

trends-to-keep-an-eye-on/1

3 2016 Chapman Institute WellCert Wellness Program Manager

Training4 Springbuk, 2016 Healthiest Employer Strategic Assessment

The Age of Technology

The Tools

25

Using algorithms to drive better use of dataMachine Learning/AI

Creating a common database of health informationBlockchain

Monitoring health through personal devicesWearables

Machine learning is an application of artificial intelligence (AI) that provides systems the ability to

automatically learn and improve from experience without being explicitly programmed. Machine learning

focuses on the development of computer programs that can access data and use it learn for themselves.

AI is the theory and development of computer systems able to perform tasks that normally require human

intelligence, such as visual perception, speech recognition, decision-making, and translation between

languages.

• According to Accenture, the

AI marketplace will grow to a

$6.6B market by 2021

• Because small and

specialized solutions are still

relevant, there are

opportunities for far reaching

and rapid impact in

healthcare

AI Marketplace

26

Confidential

Innovation Applied - HRTech

HRTech – Finding the right candidate

Recruiting employees who are better all-around fit

Automated on-boarding

Mobile, mobile, mobile

Talent Acq. Optimization Sourcing Recruiting Platforms

HRTech – Managing employee data

Built for the administrator AND the employee

Compensation and career progress transparency

Mobile, mobile, mobile

HRTech – Maximizing potential

Year-round coaching, feedback, recognition, goal clarity

Focus on education

Mobile, mobile, mobile

Engagement/Culture PerformanceLearningOnboarding

Sourcing at its best.

Evolve or die

60% of the day is spent on cumbersome tasks

Reduce time spent sourcing/manual processes

Replicating successful hires is rare

Track hiring patterns and successes

The right fit is critical to quality-of-hire

Grow relationships and place candidates in the right jobs

WHAT’S NEXT FOR RECRUITING

Talent is tough to find

Identify the best candidates, faster

Empowering recruiters

with artificial intelligence

OUR MISSION

Meet Arya: Your Virtual Sourcing Assistant

Providing an insight-driven, data-powered experience –

enabling organizations to find and engage with the best

talent faster than the competition.

ARYA INTELLIGENCE

How it works

Capitalize on every resource available

JOBBOARDS

INTERNAL ATSDATABASE

PROFESSIONALSITES

GLOBAL TALENTSOURCES

SOCIALDATABASES

USPatent, Universities, Google Scholar,

ResearchGate, GradCad, HealthGrade,

Youth4Work, Quora, Bēhance, etc.

LinkedIn, Indeed, StackOverflow,

GitHub, Facebook, Twitter, About.Me,

Jobcase, Doximity, etc.

300 M+ Social CandidatesWe source internationally

and we are adding new

regions constantly.

ARYA AT WORK

What’s the result?

A tool that continually grows in its intelligence

Finding the perfect candidate every time

Redirecting up to 5 hours of your day to focus on

what human beings bring value to

Own your career,

get a coach.

I have serious, unresolved issues at work

because...

THE PROBLEM

My manager is too busy, lacks experience, and isn’t

interested in my long-term success. Plus, there are

taboo topics I don’t want to discuss.

My HRBP isn’t an expert in my industry. Their

priorities are with the company first, not me.

Mentors are hard to find, and I can’t ask for the time

I really need to learn new skills.

So, I find a new job. Repeat.

Why now?

2xMillennials are leaving

jobs twice as fast

because they are

unengaged at work.

93%93% of millennials see ongoing skill

development as important to their careers,

and are willing to spend their own time and

money to get it.

#metoo#MeToo is ushering in a new standard for workplace culture, but

people don’t know where to go or who to talk to for guidance.

$$Millennials are spending

twice as much on

“personal improvement”,

including personal

trainers and life

coaches. Coaches

provide strategies for

growth within their jobs.

The Product

Identify Key Areas

to Improve

Browse & Book

Recommended Coaches

Have a Plan

for Growth

Roadmap

1. Coach Marketplace

2. Learning Mgmt.

System

3. Coach Ratings

4. Performance Insights

Click to Access

Proof of Concept

GoCoach Advantages

• Same Day / Week

Availability

• Subject Matter

Experts

• Soft & Hard

Skills

• Certified Coaches

& Ratings

• Gamified

Performance

Metrics (LMS)

• Direct to

Consumer

01 02 03

04 05 06

Confidential

Innovation Applied – Insurtech/Digital

Health

• Healthcare innovation is occurring at every level.

Across the Spectrum

43

SVB Analytics, Digital Health: Opportunities for Advancing Healthcare

Confidential

Innovation Applied - Fintech

NFP Team

Amy Coyle

amy.coyle@nfp.com

75

John Casey

john.casey@nfp.com

Mark Rieder

mrieder@nfp.com

Elizabeth Patterson

elizabeth.patterson@nfp.com

NFP.com