The insurance industry must figure out how to make critical compromises to retain and promote a more diverse workforce if carriers and brokers are to survive and prosper as the labor force shrinks, one award-winning executive contends.
Corbette S. Doyle--who, as chief diversity officer at Aon, has been on the front lines of what she calls a "war for talent"--received the Insurance Woman of the Year award here this month from the Association of Professional Insurance Women.
"The mission of APIW is to gain recognition for women of achievement, but it's also to support women supporting other women," said APIW President Laurie Kamaiko.
APIW is an organization also "devoted to women in decision-making capacities," she noted, because while there may be more gender diversity in the workplace, "when it gets to the management level, there still needs to be a lot more done."
Indeed, Ms. Doyle noted on her Web site that there are still only eight female CEOs among the Fortune 500.
Ms. Doyle has spent the last three years of her career examining the role of women in the insurance industry, seeing more and more female employees cutting back to part time, refusing promotions, and leaving the field altogether.
"Is a glass ceiling halting upwardly mobile women, or are women again redefining the rules, this time by saying no to more promotions, more travel and more power as defined in the traditional sense?" she said.
The key is for the industry to find a variety of nontraditional ways to help families resolve conflicts between office and home life to attract and keep a wider variety of employees, she said.
Expressing a desire to do away with the concept of two lives--one personal and one professional--Ms. Doyle said that by challenging the notions of "where work has to be done, when work has to be done, and who has to do it," a company can capitalize on the diverse talent, ideas and experiences of a wide range of employees. It is by diversifying the process of work itself that companies can be most effective in attracting a diverse work force, she added.
In her role as Aon's chief diversity officer, Ms. Doyle concentrates on the "hiring, retention and promotion" of talent, utilizing workshops, mentoring programs and affinity groups to encourage growth within her organization.
Encouraging diversity is more than merely an academic exercise, according to Ms. Doyle. From an intellectual standpoint, she said, diversity of thought provides new, unique perspectives that can help a company grow and boost profits. In addition, from a purely practical standpoint, many clients desire representation by someone who comes from a similar demographic or cultural experience, she added.
Indeed, Ms. Doyle believes the retention of diverse talent will make or break companies in the coming decades, as a personnel shortage in management-level positions arises with the retirement of executives from the baby boom generation.
The impending staffing crisis will bring about what Ms. Doyle refers to as "the war for talent," prompting Aon to work to become an "employer of choice" for any and all types of workers.
The APIW award will serve as a platform for Ms. Doyle to "reach out to highly talented women and convince them to come to Aon," she said.
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