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RISKWORLD 2022: Q&A with Opening Keynote Michael C. Bush

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RIMS RISKWORLD is just a few days away, kicking off in San Francisco on April 10. This year’s opening keynote will be delivered on Monday by Michael C. Bush, the CEO of Great Place to Work and author of A Great Place to Work for All: Better for Business, Better for People, Better for the World.

Bush recently sat down for an interview on the RIMScast podcast, discussing how the pandemic has redefined satisfaction in the workplace and the critical steps that risk professionals can take to increase equity and happiness in their organization. Download the RIMScast episode for Bush’s full interview and check out a preview of his April 11th keynote below:

What will you discuss in the keynote address at RISKWORLD?
Michael C. Bush: We’re going to talk about making a connection in a way that [makes] people, employees and clients feel they are cared for. Physical and mental health is a top priority now and risk professionals play a role because there is data and policy to consider. But, if you approach it correctly, it can lead to organizational success even during a pandemic or the Great Resignation.

How has the definition of happiness or satisfaction changed against the backdrop of the pandemic?
MB: Prior to the pandemic, we could talk about happiness, satisfaction, engagement and empowerment in one context. COVD has changed that. We were suddenly in a world where people felt like really nobody cared, because they were living a life where there was so much uncertainty. They didn’t know what they needed to do to protect themselves or their family members—physically and financially. This left huge voids because there was economic insecurity on top of it all. People had to watch their communities suffer as small businesses shut down one after another.

Great companies realized this was a time to care. Therefore, they became the one thing that their employees could rely on. In our interviews, we heard stories of companies sending employees necessities like toilet paper during shortages, making deliveries to their parents and other instances that were happening at a personal level. Those lucky employees realized their employers actually cared about them as people and not just as an employee, and that led to happiness. The only silver lining from the pandemic was that humanity has surfaced in a way that has connected us all.

How do you view resilience? 
MB: We all have tough days. When a person is under pressure but knows that they have support or someone or an organization that can relieve that pressure and enable them to bounce back, that’s resilience. It can eliminate burnout, but there’s a difference between burnout and being burnt out. And we’re going to discuss that difference at RISKWORLD.

Fans of language and communication—or those looking to sharpen their skills—will find some really strong takeaways from your take on active listening. Now that so many professionals depend on remote capabilities to work, how has your perception of active listening changed or evolved?
MB: I’ve become a more intense believer in active listening, especially over the last couple of years. It’s not just making eye contact and not just me repeating the last thing you said. Listening is really about caring. When you listen to a person in a deep way, it is the ultimate show of respect—and not doing it is equally disrespectful. If all I’m doing is waiting for someone’s mouth to stop moving to grab tidbits of what they said to make my point, that is not listening, that’s just a spring-loaded response.

When it comes to being remote, try to dial in and focus on the person who’s in front of you on the screen. Put down your mobile phone and stop multitasking—chatting, posting and “liking” things on social media. 

Listening, in the way I’m talking about, takes practice. It involves emptying your mind and being humble enough to do that and not holding on to your own point of view so tightly. When your mind is open, you start asking questions and learning starts. Through that exchange, something unusual and great happens: people feel safe and will start to say more. You might help someone solve their problem, they might help you, or you might identify a new risk altogether.

Solving the Talent Crisis in the Risk Profession

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BOSTON—In a time when skills become obsolete much quicker than in previous eras and the professional landscape is rapidly evolving, businesses need to be more agile and adaptive. Companies with these characteristics tend to meet their clients’ expectations more effectively, have higher employee engagement, and see more success generally. They can accomplish this by bringing on and nurturing younger or newer talent.

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While more schools are offering risk-related academic programs, however, the industry is still not attracting enough young people to its ranks.

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How can companies attract new talent to the risk management industry and keep them from leaving?

“I hear people saying all the time, ‘I wish next-generation people would stay,’” said Monica Merrifield, vice president of risk intelligence at YMCA of Greater Toronto. At today’s RIMS 2019 session “Solving the Talent Crisis in the Risk Profession,” Merrifield and fellow panelists Joseph Milan, principal at JA Milan and Associates LLC, Grace Crickette, vice president of administrative affairs at the University of Wisconsin-Whitewater, and Andrew Bent, risk director at Sage Group plc., discussed why young people aren’t joining the risk management field, and what companies can do to bring them into the industry and keep them there.

Crickette described the next generation as purpose-driven and passionate, expecting a company to have a bigger vision and to be clear about the employee’s role in that vision. They work best in high-collaboration and low-hierarchy environments, and expect a variety of work, as well as meaningful interactions with leadership. They are interested in creating a pathway to growth more than advancement—not necessarily a ladder, Crickette said, but “a lattice.” In part, companies and hiring managers can attract these young professionals by examining their own operations and internal culture to ensure that they address these concerns and are open to new perspectives and contributions. When companies emphasize the values of diversity (both of ideas and people), humility, and learning from mistakes, this will make them more appealing for the next generation of talent, Merrifield said.

Merrifield and Crickette also stressed the importance of cultivating new talent, and how young professionals can grow by seeking out mentors and sponsors who will create opportunities for them, even if those opportunities are not at their current company.

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“Don’t wait for a sponsor, ask for a sponsor,” Crickette said. Multiple panelists also encouraged young professionals to pursue education and accreditation for advancement and growth in a risk management career, Crickette urging young people to take more tests and get professional designations to set themselves apart and learn more, and Milan describing the benefits of the RIMS-CRMP certification. Milan also advised young professionals to be courageous enough to share new ideas in their workplaces, and Merrifield said that they should focus on soft skills, which are less likely to be automated in the future.

When people lament that they wish millennials would stay, Bent said he responds by pointing to studies showing that millennials are actually more loyal when their employers present them with a “why”—a deeper purpose for their work and a reason to stay. He said that companies should examine what they are actually doing to attract and retain younger talent, keeping in mind that millennials and younger generations are better at moving on when they see that a new opportunity elsewhere is better.

Crickette added that the industry needs to show young people that there is more to the risk management business than just insurance, and explain how diverse the field is. Bent and Milan both also said that the risk profession is mostly associated with bad things happening, and that risk management professionals could help change that perception by showing how risk management can create opportunities, showing up in their communities during both good times and bad.

It is possible to get young people to join and stay in the risk management profession, these experts stressed, but companies must do the work to adapt to the employees they want, creating opportunities for young risk management professionals to engage and grow.