WFM (workforce management solutions) are highly important for the insurance companies. This is especially the case when looking at the larger departments like underwriting, policy administration, contact centers, shared services and claims processing. German Trujillo Manrique says there is a need to have balance as the workforce is managed. This can be done through different actions.
Proper Skills And Mixes
It is normally very expensive to build teams that only include experts. This is why it is really important to have a mixture of different skill levels as a team is created. The teams can and should have senior and junior workers. Senior team members become responsible with helping deal with the complex cases and mentor the juniors. In addition, some of the team members can be on the list of cross-trained so that resources can be borrowed between departments.
Real-Time, Flexible Workforce Management
Every single day there are lull times and spikes. Real-time workforce management is really important to soften all extremes. As an example, you can use some additional resources in order to cover the workload spikes and employees can volunteer to simply leave work early as no work is available.
Team Cycle Management
In order to manage operations and teams with the purpose of improving performance results you need activity consistency. As an example, Mondays can be when plans for the rest of the week are discussed. During Tuesdays you can review the past week and see what key insights can be analyzed. Then you use Wednesdays to create strategies for the following week. Such a system is just an example of cycle management. The system that is the best for you varies from one company to the next.
Improving Resource Forecasting
One of the most important things related to workforce management solutions is to know what demands will appear in the future when referring to resources necessary to get the job done. Correctly forecasting resources needed is important as it means you waste fewer resources. The insurance companies will be able to hire as much staff as necessary instead of just randomly hiring whoever you can find as you scramble.
When you manage to forecast way into the future you have more time to hire a truly optimal staff.
Always Consider Seasonality
Seasonality needs to be factored in planning. There are different workloads that appear during specific seasons. If you do not consider such changes you can end up having fewer resources than needed or way too many. Performance will automatically be impacted. As an example, car insurance companies have to deal with much more work as winter starts. Preparing for this means you have the resources you need to handle the extra workload.
Last but not least, when you know and then you embed trends into your workforce planning you can decrease and increase the teams within an organization as soon as volumes decrease or grow. Low performance risk is automatically reduced. There are many cases in which trends are not even factored into WFM. Do not make such a mistake.