-
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)
https://en.wikipedia.org/wiki/Electronicshttps://en.wikipedia.org/wiki/Softwarehttps://en.wikipedia.org/wiki/Sensorhttps://en.wikipedia.org/wiki/Actuatorhttps://en.wikipedia.org/wiki/Internet_accesshttps://en.wikipedia.org/wiki/Data_collectionhttps://en.wikipedia.org/wiki/Data
-
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.
http://news.gallup.com/businessjournal/197234/millennials-job-hopping-inevitable.aspx?utm_source=alert&utm_medium=email&utm_content=morelink&utm_campaign=syndicationhttps://www.manpowergroup.com/wps/wcm/connect/660ebf65-144c-489e-975c-9f838294c237/MillennialsPaper1_2020Vision_lo.pdf?MOD=AJPERES
-
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
[email protected]
75
John Casey
[email protected]
Mark Rieder
[email protected]
Elizabeth Patterson
[email protected]
-
NFP.com
