May 25, 2013

Excellence in Practice

 

ASTD-Excellence-in-Practice-250

We are thrilled to announce that ReSource Pro’s Learning and Development department in Qingdao, China has recently been recognized for their Achieving Business Results Through ESL Learning program. The program has been selected to receive an American Society for Training and Development Excellence in Practice citation in the Organizational Learning and Development category for the 2012 award year.

There are many ESL programs in China but few corporate English programs are earning this kind of distinction. This program is one of many offered to the to our team members working in our Qingdao and Jinan offices in the Shandong province of China.

 

 

The American Society for Training and Development (ASTD) is the world’s largest association dedicated to professional training and development. ASTD members are found in 100 countries (www.astd.org).

Ten-Hut!

logoWe are counting down the days to the  ReSource Pro Operations Boot Camp! The first of it’s kind, this boot camp aims to train and arm participants with the necessary tools to turn process into profit. The event has been sold out for weeks and as we approach the big day our excitement is only growing.

 

In advance of the event we encourage both participants and those not attending to learn more about some of the expert speakers we are welcoming at the Operations Boot Camp.

Dan Epstein, ReSource Pro CEO, will share with us exactly why process matters and how it can drive organic growth. Click here to read his article entitled “Profitability is an Inside Job.”

Jack Burke, founder of Sound Marketing, will asses individual organization operations maturity level through an interactive session. Jack is a marketing and communications specialist. Within the insurance industry he has spoken at numerous gatherings ranging from HGH TECC to Sales & Marketing Rubles for the National Alliance. Read some of his work here at the Sound Marketing website.

Dr. Keely Killpack, change management expert with PeopleFirm, will deliver tactical tips on how to effectively engage staff in embracing change and manage the ongoing process of acceptance of change. Keely has over 12 years of consulting experience helping companies change and positively influence employee behavior and performance. Follow Keely on Twitter, @DrKeelyK.

 

Follow us on twitter @ReSourcePro and #OpsBootCamp13 for real-time updates during the event. Check our blog for post boot camp meeting summaries!

Victims, Villains & Heroes: A Workplace Drama

During the recent IAC meeting in San Diego, HR specialist, author, speaker, and founder of HRthatWorks.com, Don Phin conducted a daylong workshop on “The Inspired Workforce”.

One of the segments that definitely got everyone’s attention was entitled “Victims, Villains & Heroes in the emotional drama of the workplace.” As Don explained,everyone from management to staff falls into various emotional traps that result in dysfunctional performance due to the role or roles they play.

The victim engages in destructive drama blaming others for their difficulties.  They feel that they have no voice, no control and are not understood, resulting in a feeling that the company lacks loyalty towards them.  The villain, on the other hand, appears to be uncaring and the emotions can be triggered when others fail to meet the villain’s expectations.  The hero is definitely caring, but falls into the trap of over-commitment and is viewed negatively by others when offering unsolicited advice.

Unfortunately, people don’t necessarily fall into a singular category, but can assume any of the three roles at various times according to circumstance.

During the workshop, Don explained the emotional energy related to each of the three categories and provided tools to help everyone better manage the energy.  To illustrate how to best manage communication between victims, villains, and heroes, Don put the group through a 40/40 exercise that showed the best way to engage in dialogue that would defuse the situation and enable everyone to move out of emotional paralysis into constructive performance.  A separate blog and video highlights the 40/40 exercise and explains how both parties can move into the hero role.

If you’re not sure if you have this drama going on in your workplace, just consider the following questions:

·     Do you agree the workplace is overrun with a victim mentality?

·     Do you sometimes find yourself feeling life at work “isn’t fair?”

·     Have you ever tried to help someone, but despite your efforts, that person never “gets it?”

·     Do you find yourself “owning” other people’s problems?

·     Do you get worn down from playing the hero role?

 

More information on this concept is available in Don’s book “Victims, Villains and Heroes”, which can be found at www.hrthatworks.com.

Lessons Learned from an HR expert.

For those of you who attended ReSource Pro’s Innovation Advisory Council event last week, you’ve heard Don Phin saying that there is no substitute for  sound HR management practices. It makes no difference if you are a professional firm, retail outfit or contractor. It makes no difference if you have 5 employees or 50,000. It makes no difference if you have seasoned HR executives or not. Many companies fail to see the true cost of poor HR practices and don’t embrace the right ones until they get whacked in the head enough times that it begins to hurt!

Great companies don’t wait for the pain, they model best practices. This is not rocket science, it’s just plain common sense. By going through the HRthatworks.com calculator and using your own figures you will see the bottom line distinctions HR That Works can help to create at your company.

How does your agency compare to the best? Benchmarking for Improved Financial Performance

Insurance agencies have been notoriously ineffective at measuring performance; yet the top performing agencies both measure and benchmark leading practices. There is a strong correlation between effective management and effective measurement. After all, what you measure provides insight into gaps, opportunities and ultimately areas in which businesses can focus; and what investments are required.

Our upcoming Innovation Advisory Council will meet in November to discuss “The Inspired Workforce”. We have invited Marsh, Berry and Co. Inc. back for an encore performance. In a previous IAC meeting we  explored the topic of Financial Performance Benchmarking as a tool to drive organic growth. We invited MarshBerry ‘s APPEX group to facilitate a discussion on benchmarking efficiency and its relation to driving agency value. Here are some of the key takeaways from that meeting:

What can agencies benchmark?

Anything that can be measured can also be benchmarked. Benchmarking can take place internally by looking at best performing processes or groups and benchmarking others against them. If there is information on things you measure available on your industry, then you can measure externally. In this case, APPEX provides benchmarks for Retail Insurance Agencies.
Certain factors such as how much time producers spend selling vs. servicing, how well an agency controls cost, how the appointment to quote to close ratios look like, impact the agency’s performance. By benchmarking, agencies are able to focus on activities that correlate to improved results.

What do best-In-class agencies measure?
Typically agencies look at Revenue per Employee as a primary measure of performance. This is often a superficial indicator. ReSource Pro specializes in driving back office efficiencies to its clients through insurance processing outsourcing, for this reason we are interested in measuring for our clients the return on investment for their various operational strategies.
Marsh, Berry and Company’s APPEX presentation showcased new metrics and indicators that best-in–class agencies measure in order to create a total sales oriented agency culture.

How best-in-class agencies develop a sales culture for organic growth?

  • Best-in-class agencies focus on factors that drive efficiencies, productivity and margins. Some of those activities include:
  • Focus on larger average account size that typically reduce service staff cost.
  • They benchmark and help their producers achieve better hit ratios.
  • Trade some service staff productivity to support higher producer productivity (sophisticated servicing increases the time producers spend selling).
  • Provide service staff incentives based on retention, size of book serviced, timeline compliance and quality of customer service they provide.
  • Trade down smallest 20% of accounts each year by eliminating commissions paid on smaller accounts

 

Testing the Sourcing Waters

In a recent article in Independent Agent Magazine, Susan Hodges asks the the question “Why burden highly paid internal employees with tasks that can be done outside for less?”

Bruce Cochrane is the President of Renaissance Group, a Wellesley, Mass. based network of services for New England independent agencies, insurers and vendors. For the past three years Renaissance Group has been part of the ReSource Pro family. “Its about meeting customer needs quickly and in the way they want it.” Cost, accuracy and time are some of the reasons Bruce chose to work with ReSource Pro.

Outsourcing is nothing new- but the technology used to do the work and send it back and forth has become extremely sophisticated over the past few years. A rate submission arriving electronically to Renaissance at 4:3o pm  can be packaged, checked and loaded into a system that organizes the submission in to work flows and sent to China. The next morning waiting on the desktop there could be 15 or 16 quotes for the same risk.

Testing the Sourcing Waters examines several options for the agency looking to outsource some tasks.

 

“You must have been a beautiful baby”

 

ReSource Pro is all about productivity and high performance. We can service over 150 clients and perform over 4,000 tasks daily. But did you know that we can also change over 1,000 diapers a day.

By the end of May, babies born to ReSource Pro had reached a total of 130. That is a lot of diapers for a company that only six years ago had less than 100 employees. Our family is expanding on 2 continents.

On June 1st our colleagues in China celebrated Children’s Day. It is a chance for all of them to celebrate not only the beautiful early summer weather, but the memories of their childhood that they hope to share with their own children one day.

This year ReSource Pro employees also participated in the national Mommy and Me Sports Day. Our colleagues, with babies in tow headed outdoors for some fun and exercise. Various games were held for babies of all ages. ReSource Pro also sent volunteers to the event and helped organize a great day for the community.

Come take a look at our wonderful baby journal.

Where Is Value Lost in Outsourcing Deals?

Not so fast...Focus on the Bottom Line

A long-term outsourcing contract is a serious investment for any business. Most companies sign sourcing deals to reduce expenses, expand profits and increase in-house efficiency, so of course they want to achieve the greatest possible return on every outsourcing dollar.

Despite this fact, a good share of contracts fail to deliver the expected benefits – and it’s in every customer’s best interests to figure out why. The good people at the International Association of Outsourcing Professionals (IAOP) recently completed a global survey designed to resolve that issue by asking executives around the world to identify the factors most likely to detract from the overall value of an outsourcing relationship.

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Strategic Outsourcing: Where Do You Fit on the Service Scale?

Diagrams are helpfulOutsourcing Is Here to Stay

Let’s start with the obvious: a significant percentage of top companies around the world now outsource at least some of their work to overseas providers-and that number will continue to grow in coming years. Yet despite the popularity of the outsourcing model and the fact that a majority of the companies that outsource seem satisfied with the results they’ve achieved, experts on the subject claim that “just 5 percent” of clients actually use these services effectively. Why such a disparity? Are these companies missing some crucial element of the equation? In many cases, the answer is yes. Most clients could achieve greater returns on their investments, but they must first learn to approach outsourcing in a more strategic way with their eyes on long-term benefits rather than short-term fixes.

Most Companies Still Don’t Outsource Properly

Dr. Arie Lewin, a professor of sociology, strategy and international business at Duke who also runs the school’s Offshoring Research Network , believes that most companies have never fully understood the potential value of strategic outsourcing, hence his “5 percent” quote. Still, most clients obviously want to use outsourcing effectively: a majority of the participants in the above survey plan to expand their offshore efforts in coming months, and more than a third have already begun outsourcing “innovation related services.”

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On Outsourcing: Ask the Right Questions, Pick the Right Provider

The worldA series of interesting posts on outsourcing best practices have made their way around the online news community in recent weeks. They don’t contain any groundbreaking revelations,  but they’re valuable for reminding you, the customer, that asking the right questions and avoiding common mistakes will help you choose the best provider for your business and maximize your ROI. They also highlight the importance of designing a strategic plan with your provider and working closely with all involved parties to guarantee a mutually beneficial relationship. Some choice quotes from part one:

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