Could flexible working harm your brokerage?

One expert says employees sometimes abuse the benefit

Could flexible working harm your brokerage?

Insurance News

By Nicola Middlemiss

Insurance can be a stressful profession and many brokers will have found themselves feeling overwhelmed at some point, having spread themselves too thin for too long.

In fact, a study from icare found that professionals in the insurance industry are most likely to suffer psychological injuries, having represented 15% of all claims during the past five years.

However, the industry isn’t ignoring its problem and many brokerages now offer their staff some form of flexible working in an attempt to combat stress and improve the work-life balance.

It’s a shift which often benefits more than just employees and many studies have found flexible working not only improves staff wellbeing but also boosts productivity and engagement.

Of course, the approach isn’t without its drawbacks and one expert says brokerage heads must be careful not to let their staff take advantage if they’re going to operate a flexible work policy.

“Offering freedom is a competitive way to attract and retain great people – but cracks are showing,” says Anna O’Dea, founder of Agency Iceberg. “Some leaders are worried that productivity is taking a hit and team culture is dying, as people aren’t as present in the office. They know some employees are taking too many liberties but they don’t want to snatch back the benefit.”

O’Dea doesn’t refute the benefits of flexible working – but she does warn policies must be implemented and monitored properly in order to make true business sense.

“Watch for signs such as missing meetings, being difficult to reach online or via mobile within agreed working hours, not hitting targets, or failing to meet deadlines,” she says.

The Melbourne-based expert also says brokerage leaders should keep an eye on flex-time requests that don’t actually suit the business.

“Too many Friday afternoons off, despite the promise of making up time on the weekend, is unlikely to suit client-facing roles,” she says.

Finding a way to have employees earn flexible working privileges is also a possible way to keep abuse to a minimum, says O’Dea.

“If you give freedom to one part of the business, you should give it to all, with awareness of what’s appropriate for each role,” she says. “But for new hires, it could help to set a probation phase. You can understand their working style, build trust and ensure they know what’s expected.”

For brokerage heads who have identified a problem with their flexible work policy, O’Dea says the first step is to look at their own behaviour.

“Are you being responsive when off-site, taking interest in staff so they feel energised?” she asks. “Then ask your team how they view the situation, as they could be struggling to adjust to digital life, and you can think about how to better manage the change.”

According to O’Dea, simple ways to regain some structure and discipline include booking regular in-person meetings and agreeing on hours that employees must be available to clients and colleagues.

“Set expectations for response times, regardless of where the employee will be working from,” she suggests.

Technology must also be leveraged effectively if flexible working is going to succeed in a busy brokerage, says O’Dea.

“You can keep everyone in easy reach by supplying quick messaging tools – such as Skype for Business, Slack or Google Chat – and video conferencing capabilities,” she says.

Finally, culture is king when it come to implementing and maintaining a strong flexible working environment, so leaders shouldn’t be afraid to bring staff together more often.

“Culture can play a big part in getting momentum back,” says O’Dea. “Set up workshops to share insights, challenges and encouragement – there’s also nothing wrong with team lunches and Friday celebrations to bring back the spark.”

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