E&O Loss Control Articles

Strengthen Your Agency’s E&O Culture through Mentoring

Written by Curtis M. Pearsall, CPCU, AIAF, CPIA | Oct 6, 2023 1:29:59 PM

“Here’s your desk and phone – any questions, let me know.” Some may say, “those are the exact words I was told when I started my job.”

Today, more than ever, agencies focus on providing staff with a more detailed onboarding process than the type referenced above. Assigning a mentor to staff new to your agency, new to the industry, or with only some industry experience can help them “learn the ropes” and more fully understand your agency culture, especially E&O best practices.

NO SHORTCUTS

Veteran staff committed to E&O loss prevention best practices often say they were taught that there are no shortcuts in the insurance business. This is still true today. 

While mentoring is a common element of leadership development and provides benefits to new staff, it has a place for all staff. Ask yourself “How many staff members will be retiring over the next 5 years?” and “Where will we find tomorrow’s employees?” A trend projected to continue is agencies will hire new staff without much insurance experience, but with the proper skill set so they can be taught insurance.

Mentoring programs are one of the most effective tools for increasing and accelerating leadership development as opposed to only providing basic training. This includes current and new staff. What’s more, if your agency is a member of a Human Resources association, you should be able to access development resources through them. Google “mentoring” and you will find numerous programs. One such program – www.gqrgm.com – notes the following benefits of mentoring:

  • Creates a learning culture – Employees know their future is being invested in if they’re paired with a mentor who can help guide their career development.
  • Promotes personal and professional development – It creates a safe place for employees to learn.
  • Reduces cost of learning – Rated the most effective method of learning.
  • Decreases stress and anxiety – A workplace mentor is someone they can turn to no matter what the issue. This can play a key role in putting an employee at ease.

TAKEAWAYS: Your agency’s future and E&O culture will be heavily influenced by the degree your newer staff is trained and coached. Including mentoring in this process should make a noticeable difference – and could increase job satisfaction and reduce turnover

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