Munich Re America, a leading reinsurance provider in the US
The situation: To differentiate the firm in an industry that tends to sell the same products at the same price to the same customers, leaders at Munich Re America set a goal of becoming “an exceptional company.” Although employees had high job satisfaction, they didn’t always understand how they contributed to the company’s success. Employee survey results also revealed a lack of trust between reporting levels. This was unwelcome news at a time when the culture was moving from stringent, do-it-by-the-book underwriting to more risk-tolerant standards. The new, “exceptional” culture needed “thinking underwriters” who could work confidently in an environment of clarity, trust and support.
The approach: We worked with senior leadership and HR to craft a communications plan and organization-wide implementation strategy for building better employee/manager partnerships focused on mutual success. MPG: The Success Connection was at the core of the roll-out. It included executive-level consulting, coaching workshops for managers and explicit tie-ins to Munich Re America’s balanced scorecard process to ensure maximum commitment and alignment.levels) and continues to be available to employees changing jobs within the company.
The results: Nearly all employees have completed the MPG process (which is being tracked as a balanced scorecard objective). “Re-Activator Sessions” – manager/employee meetings held 12-18 months after the initial roll-out – are in progress to ensure continued clarity and partnership. And while trust isn’t built overnight, responses from managers and employees alike indicate that they’re headed in the right direction. 80% of employees surveyed indicated their managers were “very enthusiastic and supportive” during their MPG discussions.