Redesign and Workplace Rewards, Assessment Example

My current place of employment is with Insurance Claims Solutions, which is a company based in the United Kingdom, the United States of America, and Australia. I am employed with them as a Homeowner Insurance Adjustor. The primary roles of an adjustor are to thoroughly investigate any claims of loss made by a client for property they own, negotiate with them on a fair settlement for the worth of their loss, and follow up with payment to the client for the agreed upon amount. The adjustor is also responsible for following all privacy laws in relation to the client’s relationship with the insurance company, as well as local, state, and federal laws mandated by the government. They are allowed to speak with witnesses to the damage or those who have knowledge of what happened to the property in question. They may also consult with any applicable officials such as police or hospital workers; take photographs upon making a visual inspection of the property for documentation, and carry out any other technique which would help them in the decision of payment due to the client by the insurance company. The adjustor is a direct representative of the insurance company and not a third party representative of any kind.

This position is one with a great deal of job flexibility in that the adjustor is basically a self-manager. He does a great deal of work outside a traditional office setting, and therefore, is not under the constant supervision of a traditional manager. Because of the fact he is responsible for the planning of claims’ investigations, the adjustor must have certain qualities to be successful with his chosen profession. He must be attentive, assertive, possess proper etiquette at all times, and he must also be able to follow through with his own self-delegated responsibilities in order for the entire insurance claim process to flow smoothly. To be successful, the adjustor must also have positive self-esteem and an inner sense of motivation to get each job handled with ease and effectiveness. This will set him apart from the rest and will most likely earn him bonuses and/or promotions in the future.

This intrinsic motivation is a compelling factor which can define the character of an adjustor because many times the job is not about reaping external rewards. More often than not, the adjustor gets internal satisfaction from the success of a task which has been accomplished through hard work and intense effort. Mastering the skills of the position also increase the self-esteem of an adjustor thus allowing him the motivation needed to excel in his profession.

Walker (2008) believes that the single most important factor in obtaining overall job satisfaction is for an employee to achieve intrinsic satisfaction. This, in turn, will lead to a better overall positive view of his daily duties.  The agent is able to achieve this goal when he helps a client who has lost property in a horrendous natural disaster and the client is extremely grateful to him for his concern and effort in being both timely and efficient. On the other hand, this intrinsic motivation can also prove useful in the case of an agent uncovering some sort of insurance fraud, be it through the company or a single agent. Both of the above mentioned scenarios can go a long way in helping build self-esteem and intrinsic motivation.

Insurance Claims Solutions offers its employees a profit sharing 401K plan and stock options. After an employee has become vested (completed five successful years with the company), he can take advantage of this extra benefit.  Other wonderful benefits are medical insurance, dental insurance, car usage, mileage reimbursement, and weekly bonuses for those employees who are doing outstanding jobs.

Studies have shown pay to be the most important factor of motivation for employees who work in the adjustor field (Luthans, 2009). While pay is an extrinsic factor of motivation for an employee, a motivated employee who has been doing well and has achieved high levels of intrinsic motivation and self-esteem will perform better and for a much longer period of time than one who is only in this position for the salary and benefits package.

Two things essential to the health and morale of the organization are praise and recognition. The Gallup Organization (1999) reports that taking the time to both recognize and praise the efforts of employees was one of the key points of discovery in its multiyear research poll on employment and company morale.  It was also shown through research that is more important to give an employee some sort of feedback, even if it is negative constructive criticism, rather than simply ignore that employee. It might not mean a positive mark in the employee’s ability to work, but it shows the employee he is not being overlooked by upper management and ignored. Doing what you can as a company to bring all employees together, through all departments, will not only promote productivity over the long term, but will also increase the morale of the employees and will give them a sense of belonging. Two examples would be a company picnic during the warmer months and a dinner banquet around the holiday season. Awards could be handed out, or bonuses could simply be given to each employee to show how meaningful that employee is to the company.

Another way to assess the effectiveness of a company besides feedback from its employees is through local labor market trends. These market trends will show whether or not the company is meeting their target goals and how well the company is standing in relation to other companies in the area as far as profits, production, and a variety of other subjects.  Engaging Workplace Partners (2009) believes all workplace contributions should be valued not only by all employees, but by the management as well. Every one of the staff should be aware they have a job to deliver the highest possible quality in both customer service and support to all clients as well as be able to resolve the inner company issues as they will arise.

One of the most essential goals in being a successful insurance adjustor is being able to set small goals which, in turn, hopefully lead to the creation of larger goals. The setting of small goals allows the adjustor to visually see his goals being obtained. This, in turn, raises his self-esteem and promotes his intrinsic motivation. If the small goals are obtained, the larger goals may be set and the adjustor can strive to work toward attaining those, although knowing he has achieved goals at this point already. This will give him a sense of accomplishment, even if he does not succeed at everything he does. It will also, more than likely, cause him to try even harder the next time to achieve the larger goal and this time he might be able to do it.

An example of a goal which may be set by an adjustor would be learning the necessary procedures in order to negotiate a settlement for the client that would be considered fair and acceptable by both parties. In order to successfully do this, you must know the policy limits for the property in question and what settlement offers in similar cases have been given in the past. The client most likely will ask for a higher amount in the hope that the adjustor will offer him or her a more fair amount than if the client settled for whatever the adjustor offered in the beginning of the process. In this case, as long as the customer feels he or she has been handled with professionalism and courtesy, honesty and grace, he or she will most likely be happy with the settlement and the adjustor will also reap the benefits of a job well done.

Effective communications is another goal which is crucial to the livelihood of an adjustor. If one cannot communicate effectively, he will not be able to drive his point in a gracious manner and please both the client and management. Verbal and non-verbal skills are important in the communication process in order to be able to effectively communicate and understand what the client is, or is not, telling you regarding the claim in question. Superb writing skills are important to this job because of the documentation necessary for each and every claim which must be performed. Most adjustors have at least a Bachelor level education and this helps them to understand the basics of good grammar, composition, speaking skills, and psychology. All of the aforementioned are needed in order to do the job effectively and completely with positive results.

It is also essential that an adjustor keep informed of changes in relation to the insurance world, whether this be general insurance laws mandated by the federal government or whether this is something pertaining specifically to the adjustor’s department of the agency. To accomplish this critical goal, one may participate in a variety of training seminars or workshops as well as following the local news publications and even keeping his ears “open” to the talk from other agents in the area.

An adjustor’s success is based on the intrinsic motivation explained in the beginning of this paper, but also on the goals set by an individual in order to achieve the best possible outcome with each and every claim submitted to the company. Success for the adjustor will only come through focus, hard work, determination, and setting goals which are within one’s reach.

Research shows a clear marketing strategy must be set with measurable goals so adjustors are inclined to meet these goals (Engaging Workplace Partners, 2009). Successful outcomes of these measured goals are judged by reviews such as internal assessments and employment evaluations. The data obtained from these internal assessments can be quite useful in adjusting strategies and revamping current processes in order to meet ever-changing company needs (Engaging Workplace Partners, 2009).  All of these factors combined intertwine to help run a superior business by having the best agents and management at the front of the team and, in turn, give the rest of the organization’s employees the motivation and moral needed to succeed in the organization and promote the community.

References

Walker K. (2008) Intrinsic Motivation in the Workplace Equals Higher Job Satisfaction Retrieved November 23, 2009 from, http://www.associatedcontent.com/article/816475/intrinsic_motivation_in_the_workplace.html?cat=3

Luthans F. (2009) Scientific Management in Practice Retrieved November 26, 2009 from, www.nwcor.com/…/OB%20chap011%20Job%20Design%20and%20Goal%20Setting.PP

Item 4: Recognition or Praise (1999) Item 4:  Recognition or Praise Retrieved November 25, 2009 from http://gmj.gallup.com/content/490/item-4-recognition-or-praise.aspx

Engaging Workplace Partners (2009) Engaging Workplace Partners Retrieved November 25, 2009 from, www.healthcareworkforce.org/.EngagingWorkplacePartnersQualityCharacteristicsDescriptions.pdf