Two of the biggest protection advice firms in the UK believe hybrid working is here to stay as it has become an essential route to recruiting and retaining talented people.
Last week Health & Protection spoke to a number of advisers who, while acknowledging the impact hybrid working can have on the development of new joiners in the sector, maintained the additional benefits of such working practices were clear.
Their comments followed research from the Chartered Insurance Institute (CII) showing negative impacts of hybrid working were particularly felt by those working in underwriting and broking.
Respondents identified poorer access to mentors and on the job learning as significant issues.
Not just possible but preferable
However London & Country and LifeSearch also weighed in on the topic, giving the issue their backing but highlighting issues such as longer induction periods.
L&C’s associate director of communications, David Hollingworth told Health & Protection the pandemic highlighted the fact that not only was hybrid working possible, but it was also the preference for many of the firm’s advisers.
“Within that there will be a broad range of preference of course, with some preferring to be in the office all the time to those that would happily work from home day to day,” Hollingworth said.
“When consulting colleagues it’s been clear that flexibility is high on the list and so the hybrid model is here to stay.”
Though Hollingworth conceded that while some colleagues will be well positioned to thrive in a remote environment, it is also crucial that there is still the ability to come together as a team.
“That brings the support, collaboration and engagement, not to mention the social interaction that is so important given our people are what make the business,” he added.
Firing over questions face to face
And Hollingworth maintained that advisers new to the market benefit from the experience of others and being able to fire a question across the desk rather than through a virtual meeting or email.
“Having the flexibility for colleagues to come together as a team regularly as well as use the office to suit their individual needs will be important,” Hollingworth continued.
“It’s also important for providers to be able to have access to the teams in order to help with development.
“When everyone was in the office all the time the identity of the business would be apparent to all, but putting a renewed focus on engagement is important to us to forge a strong culture.
“For example, we are bringing all colleagues together for our L&C Fests which will be a great opportunity for everyone to get together and underline those shared values in a social setting.”
Now seen as a necessity
Paula Bertram-Lax, chief operating officer at LifeSearch, agreed and told Health & Protection hybrid working was now seen as necessity to both attract and retain talent.
However she acknowledged it was taking longer to train new recruits and it was hoping people would be further drawn into the office.
“In order to sustain our high levels of engagement, personal development and innovation it requires leadership and coaching to step up to an unprecedented level,” Bertram-Lax said.
Though Bertram-Lax added that while all of these things can be achieved in a hybrid world, with additional costs to the employer, employees lose out on real time peer-to-peer coaching, relationship building and timely communication.
“I often say you can’t put a price on the power of ‘ear wigging’ hearing coaching being implemented, knowing how a message has landed, sensing frustration and need for support,” she continued.
“All this takes much longer to get to know and resolve in this new world, so our employee induction period is noticeably longer.
“LifeSearch has moved to directing all ‘Searchers to spend a minimum of two days per week in the office with flexibility around shift times to work around any family commitments.
“We are working hard to make those office day experiences valuable and enjoyable with the hope the pre-pandemic ‘pull’ returns soon.”