One of the biggest challenges facing insurance CIOs is the ability to attract and retain key talent to execute on their IT strategies. Demand for talented workers who understand both technology and business is growing, but availability of these skills is tight. Most large insurers have leveraged outsourcing firms to complement their existing staffs, but will that strategy support future needs, especially with potential government changes to H1-B visas? CIOs need to establish a plan to acquire, build, and retain highly skilled IT talent.
Find New Talent Pipelines
Take the time to build relationships with local colleges, InsureTech hubs, etc. Make yourself and your organization well-known to the talent in fields you are trying to hire for. It’s important for potential workers to know you, your work opportunities, and how being employed by you is mutually beneficial. You need to be visible.
Look internally at areas where jobs will be impacted by digitalization. Can some of these employees be transitioned to business analysts, project managers, or developers? These employees already know the business and have worked with your systems—some may be interested in learning new skills. This also helps with the change management associated with automating roles in the organization. Partner with affinity groups that leverage similar skills you are looking for. Military veterans are a good example. These groups often bring not only technical skills but diversity of thought to the team.
Take Steps Toward Retention
Hiring is just the first step. Now you need to retain these new employees—and this is not easy due to all the choices available to skilled technical resources. Have you modernized your work environment to meet contemporary standards? Space and technology tools are important for creating an environment where workers feel empowered to be effective.
Create rotational opportunities for employees to build not just technical skills, but to learn to work with different personalities. It’s a long-term investment in staff. Provide challenging opportunities in work as well as in the community. Employees want to work for a socially conscious company that gives back to their community.
As CIO, it’s important for you to take a lead role in defining the talent strategy and not delegating to others. A key manager of mine once told me, as a leader you have three priorities: people, people, people. Winning the war for talent is critical to be successful in defining and implementing your IT strategy.
Add new comment