The landscape of the insurance industry is rapidly evolving, with more agencies and brokerages turning to remote virtual employees (both overseas and domestic) to streamline operations and cut costs. At this year’s Producers in Paradise in Key West, Davie Holt from Virtual Intelligence shared valuable insights on how to set remote teams up for success. This article discusses these concepts, providing a comprehensive guide for insurance agencies looking to effectively integrate and manage remote virtual employees.
Market Conditions:
The demand for remote virtual employees has surged due to changing market conditions. With the ongoing global challenges, companies are seeking ways to maintain efficiency while reducing overhead costs. Remote work has become a viable solution, offering flexibility and access to a global talent pool as well as added flexibility to domestic team members that may not be able to conform to the normal 8-5 work schedule.
Technological Advancements:
Technological advancements have been pivotal in enabling remote work. Tools such as CRM systems, project management software, and communication platforms have bridged the gap between remote employees and their on-site counterparts, ensuring seamless collaboration and productivity. While forward thinking agencies have been doing this for years now, the onslaught of COVID has opened the minds of those on the fence due to the necessity to go remote to preserve their businesses.
Cultural Nuances:
Understanding and respecting cultural differences is crucial when working with remote employees from various parts of the world. These cultural nuances can impact communication styles, work ethics, and overall job satisfaction. For instance, employees from the Philippines may exhibit a strong desire to please their employers, sometimes to the detriment of transparent communication about challenges they face. Like all teams, culture is key and fostering open lines of communication with leadership is paramount.
Assessment and Selection:
Selecting the right virtual employee involves assessing their skills, cultural fit, and work ethic. Agencies should look for candidates who demonstrate proficiency in required tasks and the ability to adapt to the company’s culture and values. Virtual Intelligence emphasizes the importance of rigorous selection processes to ensure that remote employees can meet the company’s standards and expectations even though they are overseas or in Central America. These same rigorous standards are used by the team at Insurance Futures when identifying domestic candidates to fill agency roles across a variety of job descriptions.
Geographical Factors:
Hiring from different regions comes with its own set of benefits and challenges. For example, Colombia offers a workforce that is generally more direct and communicative, while the Philippines provides a large pool of English-speaking professionals. Understanding these regional characteristics can help in making informed hiring decisions. Even with a good understanding of these factors, some agencies are still not completely bought in to outsourcing labor anywhere other than domestically. Thankfully, between Virtual Intelligence and Insurance Futures, agency principals have options to meet either thought process.
Cost vs. Quality:
While cost savings are a significant advantage of hiring remote employees, it’s essential to balance cost efficiency with quality. Lower costs should not come at the expense of employee satisfaction or job performance. Investing in well-compensated, skilled employees will yield better returns in terms of productivity and customer satisfaction. This is especially true in the domestic remote employee market. These are the same people you would hire to be in your office daily, they simply aren’t there. Nothing is lost in their skillset, desire to succeed and ability to effectively communicate. Â
Comprehensive Training Programs:
Implementing robust training programs is vital for the success of remote employees. These programs should be tailored to the specific needs of remote workers, providing them with the necessary tools and knowledge to perform their tasks effectively. Regular updates and continuous learning opportunities can further enhance their skills and performance.
Cultural Integration:
Integrating remote employees into the company culture is essential for fostering a sense of belonging and loyalty. This can be achieved through regular virtual team-building activities, cultural exchange programs, and inclusive communication practices that make remote employees feel valued and part of the team. In fact, for Insurance Futures clients there is a formal learning management system that teaches you how to do this effectively with proven tactics from Jeromey, Caleb and Michael. Not theory, proven tactics they have used to scale their agency.
Ongoing Support:
Providing continuous support is crucial for the long-term success of remote employees. This includes regular check-ins, feedback sessions, and access to resources that help them navigate their roles. A support system that addresses both professional and personal challenges can significantly improve job satisfaction and retention rates.
Regular Touchpoints:
Establishing regular touchpoints with remote employees is essential for maintaining clear communication and ensuring alignment with company goals. Weekly one-on-one meetings can help address any issues, provide feedback, and reinforce the company’s vision and objectives. This has proven to be especially effective with the virtual remote employees we have for Florida Risk Partners, Crushing Content, Policy Tee, Killing Commercial and The Power Producers Podcast. We operate in the Microsoft Teams environment but still have live zoom meetings on Tuesdays and Thursdays to be sure all hands on deck are moving in the same direction. In addition, we use Hubspot automations combined with Asana task management software to be sure everything is completed and up to standard.
Effective Communication Tools:
Leveraging communication tools such as Slack, Microsoft Teams, and Zoom can facilitate real-time interaction and collaboration. CRM systems and project management software like Asana or Trello can help track tasks and ensure that remote employees stay on course.
Performance Monitoring:
While it’s important to monitor performance, micromanaging should be avoided. Instead, focus on setting clear expectations and using metrics to assess productivity. Regular performance reviews and constructive feedback can help remote employees improve and stay motivated.
Language Barriers:
Overcoming language barriers is crucial for effective communication. Providing language training and using clear, simple language in communication can help mitigate misunderstandings. Encouraging open dialogue and patience can also foster better interactions.
Time Zone Differences:
Managing workflows across different time zones requires careful planning. Scheduling meetings at mutually convenient times and using asynchronous communication methods can help ensure that all team members are on the same page.
Employee Engagement:
Keeping remote employees engaged is a challenge that can be addressed through regular team-building activities, recognition programs, and opportunities for career development. Creating a supportive and inclusive environment can boost morale and productivity.
Case Studies:
We have been using virtual team members overseas for several years now in the Florida Risk ecosystem. When COVID hit, we were forced to move our domestic team remote with the flip of a switch. Since the pandemic, we have become more flexible in our approach. This has helped us deliver an exceptional work product while controlling our labor costs. A healthy mix of overseas and domestic help has proven to work for our team. It has been amazing to watch the impact on culture as there are no obvious barriers for the team to integrate with each other and deliver on our promise to clients every single day.
Best Practices:
Key takeaways from Davie Holt’s discussion include the importance of regular communication, providing adequate training and support, and fostering a positive company culture. Agencies that prioritize these aspects are more likely to succeed in their remote employee initiatives.
Fair Treatment:
Ensuring fair treatment of remote employees is fundamental. This includes providing competitive salaries, respecting their rights, and fostering a positive work environment. Fair treatment leads to higher job satisfaction and better performance.
Human Connection:
Building a strong, personal bond with remote employees can enhance loyalty and job satisfaction. Simple gestures like acknowledging personal milestones and offering support during challenging times can make a significant difference.
Social Responsibility:
Employing individuals from developing nations not only helps the business but also contributes to their well-being. Providing fair wages and supporting their professional growth can have a positive impact on their lives and communities.
Integrating remote virtual employees into insurance agencies can lead to increased efficiency and cost savings. However, it requires careful planning, robust training programs, and a commitment to fair treatment and ethical practices. By following the insights and best practices shared by Davie Holt, agencies can successfully navigate the challenges of remote work and harness the full potential of a global talent pool.
We encourage you to subscribe to the Insurance Futures newsletter for more insights and updates on managing remote teams and other industry trends. Further, we encourage you to visit the Virtual Intelligence website where you can learn more about their process and how you can engage with them to determine the best fit for overseas remote team members.
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