Learning Linked to Insurance Industry Performance, LOMA Council Told

An insurer looking for an edge to outperform its peers in areas like revenue growth, earnings growth, and market share may want to take a closer look at its learning and development strategies. Organizations need engaged employees to prosper; and one of the keys to producing engaged employees is to provide meaningful learning and development, according to a new research study by Towers Perrin.

Julie J. Gebauer, managing director of Towers Perrin’s HR Services, presented the study findings to the fall meeting of the LOMA Education and Training Council. She said the Global Workforce Study confirmed that organizations with engaged employees deliver higher performance and produce better financial results.

Organizations with high employee engagement had a 3.74 percent higher operating margin and 2.06 percent higher net profit margin than average, according to the study’s findings. Gebauer said ways companies can improve employee engagement – and business performance – is by aligning training and development opportunities with business strategy and by instituting and communicating clearly with employees about training opportunities related to career advancement.

The LOMA Education and Training Council is composed of senior insurance company executives representing a cross-section of the industry. The council advises LOMA on matters related to learning and development. Council discussion following Gebauer's presentation indicated strong agreement that the Towers Perrin study confirms the need for insurance companies to invest in educational opportunities for their employees.

The complete article can be read on the LOMA website.

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Source: LOMA news release

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