The Changing Face of the IT Workforce
Insurance Networking News, September 1, 2008
Change, growth and evolution-while they may be synonyms, they're also inherent to the fabric of time and the advancement of humanity. As societies change with the passing of time, so too progress the ideals and expectations of the people who comprise them.
Even in what may be viewed by many as the stodgy, risk-averse, slow-to-adapt insurance industry, progression is still happening on a daily basis. As the new technology supporting the industry continues to sprout and take root within organizations, the same is true of the budding young workers, i.e. millennials, coming into replace the now-retiring baby boomer generation. But with all the options available to these tech-savvy IT workers, what draws them to the insurance industry and where are they going once they're in it?
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SCANNING THE FACES
In the past, insurers used the lure of a stable career path with a predictable work environment and compensation, says Rob Salkowitz, a Seattle-based writer and consultant specializing in the social implications of new technology. But now, he believes, younger workers aren't going to be motivated by this anymore, as they're inherently less invested in the workforce, have less to lose and tend to be more mobile in general.
"Having grown up around the expectation that corporations aren't going to be loyal to them, they're looking for opportunities where they can build their skills portfolio in an effort to be attractive to another employer if the opportunity arises," he says. "The last thing they want is to be locked into a static environment where they're developing specialized skills and knowledge that won't translate over into the next thing they want to be doing."
To combat these new expectations, Claire Schooley, a senior analyst with Forrester Research Inc., Cambridge, Mass., believes the proper work environment is of paramount importance as young IT workers choose their employer.
"They're looking for an environment they feel good about and feel comfortable in-one where they see their colleagues as people they interact well with," she says. "They like an environment where they have a say and where their voices are heard."
Insurers today must have a flatter organizational structure-one not as hierarchical as in the past, Schooley goes on to explain, citing that within this new business composition are abundant opportunities for growth, career development and learning. Carriers also need to have the social opportunities that allow workers an open forum in which to talk and collaborate with their fellow workers-oftentimes in a cohort team setup, which allows them to learn from their team members. This is ideal for younger IT workers, as they get along well with their older counterparts, respond well to mentoring from within their group and relish the opportunity to glean tacit knowledge from previous generations.
"But if the younger workers find an organization doesn't have a lot of these opportunities and traits, they're going to leave," she warns.
BAITING THE HOOK
Given the latest generation's aversion to being tied down, one of the keys to luring new workers is technology. According to Salkowitz, technology supports how the millennial generation wants to work-in a collaborative, team-oriented environment, which is a departure from the traditional IT contributor who worked locked away in his office for days at a time. Technology also enables more teamwork and sharing between members, more visibility into management and business objectives and helps ensure projects are aligned with the management effort, he says.
Going hand-in-hand with their desire for a collaborative team environment is the latest social networking technology.
"The new workers prefer companies that are open to bringing in new technology, especially social networking and Web 2.0 technology," Schooley says. "They like to have an opportunity to have a network-whether it's a community of practice, or a forum where they can ask questions. It's all about getting the information they need."
Of course, most insurers can't just rip and replace their legacy systems, or plop the latest Web tools or networking platforms on top of their existing systems at the drop of a hat, so it takes a bit of finesse to get the younger workers excited about learning that COBOL system they probably assumed by now would be collecting dust in a storage room somewhere.
"I try to bring our core systems up to date as often as possible, but I can't always do it," says Darby O'Neill, VP, information technology, Princeton Insurance Co., a medical professional liability insurance provider in Princeton, N.J. "Therefore, I explain to them that maintaining some of the older systems is just as important as working with the new ones. The underlying core development of the older technologies is often the same with as it is with the new. I just remind them that what they're doing is important or they wouldn't be doing it."
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