The Ontario Broker - April 2018 - 20

WE EXPECT TECHNOLOGY TO BE A
DIFFERENTIATOR BETWEEN INSURANCE
PROVIDERS IN THE LONG-TERM, NOT
BECAUSE OF THE SERVICE IT OFFERS
ON ITS OWN, BUT BECAUSE
"Managers with role changes spent several months with their
OF THE SERVICE BROKERS
predecessors, job shadowing and soaking up as much as they could.
Succession planning, like any other planning, is critical because it allows
OFFER WITH THE BENEFIT
you to envision your desired future state, make the necessary adjustments
OF SOPHISTICATED,
and involve the parties you need to achieve it. We've been very open about our
plan. We held a State of the Union to share our succession plan with staff before
INNOVATIVE AND
we began the process. But succession planning should be an ongoing process - every
RELIABLE
employee has their own professional development challenges and long-term goals."
TECHNOLOGY
Given their growing Millennial demographic, there's an assumption that Staebler is integrating
BEHIND
technology into their overall growth strategy, one that's historically put a greater focus on organic
THEM.
growth versus mergers and acquisitions.
"Technology certainly plays a role in terms of our preparations for the future in general, beyond
succession in ownership. Capitalizing on the efficiencies technology offers is crucial, but we guard
against tool chasing - we don't want to be influenced toward any particular solution out of a fear of
missing out. We expect technology to be a differentiator between insurance providers in the longterm, not because of the service it offers on its own, but because of the service brokers offer with the
benefit of sophisticated, innovative and reliable technology behind them. We believe great brokers
can balance innovation, tradition and technology with personal touch."
With a detailed, comprehensive five-year succession plan, the lessons Joanna and her team have
learned throughout the transition offer great insight.
"The biggest thing I've learned with this current evolution of the business is to have faith - in the
employees on the frontline, in the management team, in your own abilities. Have faith that you can
do it. From there, tackle each challenge as it comes. Expect role changes, retirement and employee
turnover. These are a natural part of every employee's career cycle. Overcome these challenges by
maintaining good communication amongst management and employees, and adapting or adjusting
as you need. Having on-going succession plans in place keep operations running as smoothly as
possible.
"Beyond that, have a well thought out and documented plan, and communicate and share it
with all employees, and certainly involved parties, regularly. Include as many people as
necessary so your plan is all encompassing - it'll help avoid surprises - and monitor
your progress, make adjustments where you need to and don't do everything at once.
Remember that your planning will never be over, so have something to look
forward to! For me, the succession planning process has really affirmed that
the tone and values of a company are set by its leadership. Because we're
now on the cusp of change, it's presented the perfect opportunity to
review our values and vision, ensuring that while we incorporate
new ideas and approaches, we still represent the kind of
business we ultimately want to be."

APRIL 2018

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Table of Contents for the Digital Edition of The Ontario Broker - April 2018