To stay ahead of the curve, we need to think differently, be more nimble and execute with discipline – especially as we look to recruit and develop new talent. Everest Group Chief Operating Officer and Head of Reinsurance Jim Williamson shares what Everest is doing to help develop leaders of tomorrow.
The risk management industry is moving at speeds like we have never seen before, requiring us to think nimbly and execute with discipline to stay ahead of change. But building momentum is not a game of speed. It’s a game won by talent – the people we bring along and develop to drive our momentum forward. When we’re tempted to forge ahead at breakneck speed, it’s critical that we listen, learn and surround ourselves with balanced views and counsel. In other words, developing a strong pipeline is not possible with speed alone.
As Group Chief Operating Officer and Head of Reinsurance at Everest, one of the most rewarding aspects of my job is identifying opportunities to build on our strengths to shape the future of the company. This cannot be done with haste. It takes listening patiently and honing the ability to sense whether people are open to change. Within our Reinsurance business, we made a commitment to bring everyone along even if that means shifting to a gentler pace. It has created alignment and collaboration that now puts us in a leading position.
Another area where I suggest abandoning the sprint for a more measured approach is talent. Even in a tight job market, taking the time to comprehensively examine who we recruit into our field and how we develop, train and nurture them throughout their entire careers can pay off in the long run. In my view, a few key steps can help our industry make a critical shift from quickly filling roles to thoughtfully placing people in long, fulfilling careers.
Recruit differently: The challenges facing risk management companies are complex and increasingly interconnected to other fields, like sustainability and cybersecurity. In this new reality, it behooves us to abandon the “typical” mold and revisit the fundamentals. We have much to gain by expanding qualifications beyond actuarial science degrees or decades in the industry. Diversity of thought and backgrounds will help us develop new and nuanced solutions to problems that may not have been considered before.
Develop holistically: Cultivating future leaders takes more than giving someone a big job and hoping they rise to the occasion; it’s about putting people in the position to succeed amidst constant change and uncertainty. At Everest, we recently launched an annual Leadership Summit program to help rising leaders build the depth and diversity of their skills. Sessions are on topics like balancing strategic and operational leadership and effectively communicating with senior executives and board members, and wraps up with a week-long immersive session alongside Everest leaders that takes the whole person into consideration.
Lead purposefully: In my experience, purpose-driven people are drawn to purpose-driven companies. They want to work with like-minded individuals who share their values and come to work every day to do more than a job. We strive to model behavior that reinforces our company’s core mission to help people, communities and economies recover – because it is how we view our responsibility to society and because it shows the next generation of leaders that we are committed to helping them make a tangible, lasting impact.
The “war for talent” will not be won overnight – nor should it. It is incumbent on leaders like me to help make the risk management industry a premier destination for bright, empathetic and purpose-driven people. The deliberate steps we take today can ensure the next generation of leaders has ability to leave the industry better than it was when we found it. And I’m happy not to rush such a huge opportunity.
The content of this article is intended for informational purposes only. The views and opinions expressed in this article are solely those of the individual author and do not reflect the views of Everest Re Group, Ltd. (“Everest”), and its affiliated companies. Additional information about Everest, our people, and our products can be found on our website at https://www.everestglobal.com/