<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=319290&amp;fmt=gif">
Join NAIFA
LIAM5-hero-image3

NAIFA Supports Life Insurance Awareness Month

5 min read

How to Thrive During a Recession

By Simon Reilly on 7/21/22 10:00 AM

Humanity can survive anything. We’ve seen our economy sink and soar, our communities fight against disease, and despite the circumstances, find hope to carry on—not only carry on but thrive enough to build the world as we experience it today. Our families experienced The Great Depression, and you may have witnessed firsthand the impact of the 2008 financial crisis. While you may be experiencing the full effect of the fear-based language around an unavoidable recession from the news or family and friends, you know you’ll make it through.

Topics: Running Your Practice Practice Management COVID-19
1 min read

Fairway Presents Webinar on Retirement Risks in a Post-COVID World

By NAIFA on 6/17/22 11:05 AM

Join us on July 8, 2022, at 11 am eastern for the webinar "Retirement Risks in a Post-COVID World."

Financial services speaker and bestselling author Joseph Jordan will identify the challenges facing the insurance and financial services industry after the COVID-19 pandemic ends and address the six retirement risks consumers should consider:

  • Longevity – Risk of Outliving Assets
  • Market and Interest Rate Risk
  • Withdrawal Rate Risk
  • Sequence of Return Risk
  • Purchasing Power/Inflation Risk
  • Health Risks
Topics: Retirement Planning Retirement webinar COVID-19 Retirement Plans Pandemic Potential Partners for Advisors
3 min read

A Question of Ethics: Through the First Quarter

By Frank C. Bearden, Ph.D., CLU, ChFC on 5/3/22 10:00 AM

Examples of Following the Code

When we think about the NAIFA Code of Ethics, we are a third of the way through 2022, and this is a good time to review how some of the key activities either about to occur or that have already occurred reflect on our ethical standards. 

2022 Congressional Conference in Washington, D.C.

One of our key activities that occurs each year and will soon be held is the 2022 Congressional Conference in Washington, D.C. We can be proud of the active involvement of NAIFA members in the political activities that ensure our democracy in our country will survive and thrive.

Topics: Diversity & Inclusivity COVID-19 Ethics
3 min read

Meet New NAIFA Member Joe Simon

By Ronan Friend on 3/7/22 10:00 AM

In 2022, Joe Simon, LUTCF, will celebrate 27 years in the insurance and financial services industry. He’s learned a lot in that time and is eager to share his knowledge and expertise with his community.

A Changing Industry

When Simon began working as a group health representative, the world of employee benefits was in a time of transition with the advent of managed care. Despite the changing landscape, Simon learned as he went and quickly rose through the ranks. He became a regional sales representative and worked with top brokerage firms before transitioning to being a broker himself. As a broker, Simon took a two-pronged approach, continuing to sharpen his skills with group benefits while simultaneously learning the ins and outs of executive benefits.

Topics: Succession Planning Life Insurance Financial Planning Employee Benefits COVID-19 Member Spotlight Member Profile New Member Profile
4 min read

2022 Forecast: The Test of Time

By Dennis Martin on 2/18/22 10:00 AM

The economic, physical, and emotional disruption the pandemic has caused will have transformative and lasting effects on each of us individually, and our industry. Many people have realized the value of being financially secure when the unexpected happens, and others have felt the effects of not having a financial plan in place, experiencing a loss of income or even losing a loved one without life insurance. These events have served as a reminder to individuals of the importance of planning for the future. Whether filing a claim or using their cash value for a critical need, customers have found they could leverage insurance products to weather the storm.

Topics: COVID-19 Pandemic Potential Partners for Advisors
2 min read

NAIFA Is Proud to Support Help Protect Our Families

By NAIFA on 1/19/22 6:37 PM

NAIFA has partnered with Life Happens and LIMRA in promotion of their Help Protect Our Families campaign, a national effort to shed light on Americans who are at risk due to lack of appropriate insurance and financial guidance.

With the American population in desperate need of insurance and financial services, it's more important than ever for us to reach out and engage with underserved populations. Here's how you can help.

Topics: Life Insurance COVID-19 Help Protect Our Families
1 min read

NAIFA-NY's Don Lippencott Tells the WSJ of Gut-Wrenching Experiences Serving Clients During COVID-19

By NAIFA on 12/14/21 1:47 PM

NAIFA-NY’s Don Lippencott, a loyal member since 1985 and a New York Life financial professional, told the Wall Street Journal that 23 of his clients passed away in 2020, approximately double the total for a typical year. Not only did COVID-19 increase the death rate among his clients, but pandemic-related restrictions prevented him from delivering death-benefit checks in person as he has done in the past. “It was gut wrenching and excruciating,” he told the Journal.

Topics: Life Insurance COVID-19
3 min read

A Question of Ethics: Expanding Our Services as Progress Against COVID-19 Continues

By Frank C. Bearden, Ph.D., CLU, ChFC on 6/23/21 9:03 AM

At this mid-year point, we are finally experiencing what we hoped in the fight of our country to reduce the incidents of COVID-19. We're seeing the lowest level of new cases and deaths in almost a year due to progress with vaccines. With this encouraging trend, what are some of the services we should focus upon to provide, following the directives of our NAIFA Code of Ethics?

Topics: Practice Management COVID-19 Ethics
9 min read

How Will COVID-19 Change the Workplace Permanently?

By Insperity on 6/12/21 9:45 AM

There’s a light at the end of the tunnel – COVID-19 vaccinations are ramping up and the pandemic may be over in the foreseeable future.

Undoubtedly, many aspects of how we traditionally carry out work had to change because of the risks of virus transmission. But the question remains, how will COVID-19 change the workplace for the long haul?

  • Were the changes a temporary abnormal?
  • Will it soon be back to business as usual?
  • Or will COVID-19 have lingering effects on the workplace that will stay with us even after the pandemic ends?

The latter seems to be the most likely scenario.

We asked eight Insperity HR gurus to give their predictions on how COVID-19 will change the workplace permanently.

We broke their answers into five categories:

  1. Remote work
  2. Flexibility and work-life balance
  3. Technology use
  4. Compliance with laws and regulations
  5. Cybersecurity

Despite all the disruptions and stress that came with unexpected change and prolonged periods of uncertainty, many of these long-term impacts of COVID on the workplace may actually be positive.

Here’s what they had to say.

1. Remote work

No longer will the status quo – the brick-and-mortar location for a company – be the norm for some businesses.

The ability for employees to work remotely and be effective has demonstrated that the previous standard requirement for on-site work may be an outdated concept going forward for certain types of businesses where an on-site presence is not critical.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

This forced experiment has been a true learning event for everyone and has changed the relationship between employers and employees for the better.

Companies have now realized that many of their functions can be done successfully and remotely.

Before the pandemic, many companies were hesitant to truly accept this concept. Being forced to adapt in real time opened company leaders’ eyes to this new way of working.

Managers had to shift their perspectives and expectations of employees and learn new skills. Many have been very pleasantly surprised by the outcome.

Bonnie Moynch | Performance Specialist | Houston, Texas

Employees and employers alike now realize that remote work is feasible in many cases. Remote work will continue to prevail.

For employees, this may help to reduce commuting costs and stresses, and improve work-life balance. For employers, this may allow them to reduce the costs associated with physical office locations – either by:

  • Moving to smaller or less expensive locations
  • Or even closing physical offices

There may be no compelling need for an employee to return to working in a physical office. However, this adds the complication of how to manage employee performance, conduct and attendance remotely.

Mark Berry | Senior Human Resource Specialist | Bay Area, California

There will be a broader acceptance and embrace of a more virtual workforce.

Training has had to adapt for virtual environments, and that may stick. The days of gathering hundreds of people – or even just 20 or 30 – in one space for conferences, seminars and training may be a thing of the past.

We must be creative in figuring out interactive ways to engage employees while achieving similar outcomes as before. For example, what used to be one full day of training may now be three shorter days.

Additionally, managers must be able to lead remote employees well. They need to:

  • Stay engaged with their people
  • Make the extra effort for one-on-one personal time
  • Learn what motivates their employees
  • Identify how they learn and work best

Michelle Kankousky | Senior Corporate Learning and Development Consultant | Houston, Texas

2. Flexibility and work-life balance 

Balance and flexibility will be the new workplace mantras, and employees will become a more active partner in designing what that will look like.

Bonnie Moynch | Performance Specialist | Houston, Texas

The pandemic required businesses to have an increased flexibility with work hours, work-life balance and caregiver needs. Employers will need to sustain flexible work options to attract and retain skilled workers.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

Employers have learned an important lesson on flexibility and extending grace. On video calls for conducting business, it’s common for a child’s face to suddenly appear on the screen, a dog to bark or a baby to cry. Working around an employee’s family responsibilities in a crisis situation has fostered innovation and creativity.

The post-pandemic period may reflect a hybrid of on-site/off-site employees, investment in technology to ensure seamless transitions when business needs to adapt quickly to change and, through it all, balance personal and work life.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

Employers who prefer to have their employees on-site may consider providing motivation for employees returning to the office.

Allowing flexible schedules, such as one or two days of remote work and three or four days in the office may be sufficient to appease those who wish to remain home.

Arranging social gatherings in the office can also be a draw to bringing employees back to work. Hosting a lunch meeting or just bringing in lunch and giving employees an opportunity to gather on a regular basis may also be a good incentive.

Kelley Zanfardino | Senior HR Compliance Analyst | San Diego, California

3. Technology use

Technology has played – and will continue to play – a key role for many companies in maintaining the ability to work without experiencing a significant, negative impact on how they conduct their business.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

The workplace quickly adapted during the pandemic to extensively use audio and video conferencing to replace face-to-face meetings across a broader range of situations – and with employees who may not have ever used that technology before.

We will continue to see increased use of audio and video conferencing. In some cases, this technology will be more efficient in reducing travel time and expenses.

Mark Berry | Senior Human Resource Specialist | Bay Area, California

Because COVID forced many businesses to close or adapt operations, leaders had to leverage technology to come up with alternative ways of doing business that, as a result, streamlined processes and services. The most cost-effective solutions may be sustained into the future.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

4. Compliance with laws and regulations

There may be new requirements targeting time off for employees – whether that’s mandatory sick leave or public-health leave.

Some locations had laws of this nature already in place, often as part of a mandatory sick-leave law. Other locations may not have included public-health issues in their sick-leave laws – or they don’t have an applicable law at all.

All employers will need to maintain awareness of any legislation that arises from the pandemic, and adapt accordingly.

Kelley Zanfardino | Senior HR Compliance Analyst | San Diego, California

The COVID-19 pandemic may change the workplace by forcing businesses to reconsider safety protocols and procedures. They may have a newfound appreciation for OSHA and safety expertise. As a result, we could see increased budgets to invest in safety specialists and sanitation services for their businesses in the future.

Likewise, HR professionals have become essential – more than ever – in helping to navigate COVID-related laws and guidance at the local, state and federal level.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

5. Information security 

The shift to long-term remote or hybrid work arrangements will further blur the line between the personal and the professional.

Companies will need to consider how they protect data – both electronic and physical – when it’s accessed from a home environment. For example:

  • Will you allow confidential materials to be accessed at home?
  • What about the ability to print those materials?
  • How should workplace property be stored and secured?

On the flip side, employees should be careful to not disclose more of their personal lives than intended. For example, what’s visible behind them on a video call?

Long-term change driven by the pandemic is providing incredible opportunities to balance our work and personal lives. We just need to make sure that we redraw and reinforce the appropriate boundaries to protect everyone.

John Rhoades | Managing Director, Data Privacy and Technology Compliance | Houston, Texas

Summing it all up

When it comes to assessing how COVID will change the workplace permanently, HR, performance, and data privacy professionals agree:

  • Regardless of what employers thought pre-COVID, remote work or hybrid work arrangements will be viable, ongoing options for some employees.
  • Employers may wish to consider continuing to be flexible and accommodating in light of recent experiences.
  • Greater consideration should be given to work-life balance and individual employees’ personal circumstances.
  • Companies will continue to rely on technology to help them adapt quickly to unexpected events and operate more efficiently.
  • However, as the world adjusts to this new reality, niche professional advisors, such as in safety and sanitation protocols, cybersecurity, HR and employment law, will be critical in helping employers avoid or navigate problems.

Overall, COVID may have wrought havoc on a global scale, but fortunately there seems to be a silver lining poised to leave a positive legacy on the workplace.

To get the latest updates on how COVID-19 is changing the workplace, visit the Insperity COVID-19 Resource Center.

The Insperity guide to business resiliency in challenging times
Download your free e-book 
Topics: COVID-19
9 min read

COVID-19 vaccinations for employees: Can employers mandate it?

By Insperity on 4/18/21 6:51 PM

Employers and business leaders must decide how to handle COVID-19 vaccinations for employees. It’s a hot-button issue that’s complicated by an array of factors. And, as with so many issues businesses have faced during the pandemic, there are no easy answers.

Topics: COVID-19 Advisor Today

Featured

Advanced Practice Symposium - Philadelphia

THANK YOU TO
OUR ADVERTISERS

AT Asks!

Loading...