How to think like a start-up: Achieving a customer-centric culture

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?


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


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


Talent Acquisition/

Sourcing

Performance Management

Compensation and Rewards

Career Management

Succession Management

Leadership and Capability Development

Workforce Planning


And then there are the impacts of consumer demand for Digital…

The Organisational Impact: The employment relationship is changing


The plurality of work options is here…

Artificial

IntelligenceRobotics

AlliancesOther types of

workers

OutsourcingTraditional

employees

VolunteersTalent platforms


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


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


Future

2020 and Beyond

Present

1980 – 2020

Past

1980 – 2000

The Job Impact: Automation and digitization are changing what is needed


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 ...


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


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…


Creating a customer centric culture is relatively simple...


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

[email protected]

mailto:[email protected]