Risk Insider: Jack Hampton

Millennial Optimism

By: | June 27, 2017 • 3 min read
John (Jack) Hampton is a Professor of Business at St. Peter’s University, a core faculty member at the International School of Management (Paris), and a Risk Insider at Risk and Insurance magazine where he was named a 2018 All Star. He was Executive Director of the Risk and Insurance Management Society (RIMS), dean of the schools of business at Seton Hall and Connecticut State universities, and provost of the College of Insurance and SUNY Maritime College in New York City.

If you are between the ages of 13 and 35, you are a “millennial.” Don’t be embarrassed to admit it.

Sure, they say you don’t know anything about politics or money and you don’t read newspapers. You’re lazy, even as you think you’re smarter than everyone else. The United States is losing its edge and you are the cause.

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Dominik and Jan respectfully beg to differ with this description of their generation.

Dominik just graduated from high school with plans to take a “gap year” before starting a college program in computer engineering.

For him, high school was not all that interesting. The subjects taught in traditional classrooms prepared him for standardized exams but he does not really understand why that was important. He basically taught himself, helped by a few friends, to learn about things that he really wanted to know.

Take, for example, cryptocurrencies. At age 17, he’s not entirely sure that the bitcoin is the way to go. Using his smart phone, he will show you the code to open his digital wallet, but only briefly, explaining that he will not allow someone enough time to memorize it. Good risk management.

Knowing the technical skills their generation brings to the table have largely developed as a result of their own energy, Dominik and Jan are participating in or even leading a revolution.

I saw the code. It is something like 2BF46KW3EM539QZG46NX93. I do not remember it exactly.

Dominik got no help from his teachers when he started building a half-finished phone “app” to calculate the statistics of a baseball game as events occur. When the game finishes, the app will provide a complete picture of who did what and when and how often.

Jan, his older brother, is a sophomore in college. Also interested in computer engineering, he reports getting little help from professors. “I learn this stuff from the other kids.” By his estimate, Asian, Indian, and other foreign students make up about 60 percent of the student body. Jan fits right in with them.

Jan wants practical experience. He is spending the summer writing software for his father’s high-tech manufacturing firm. The company employs industrial robots, some of the two million of them in the United States. Jan is customizing his father’s robots to fit local needs. Doing so will improve efficiency, lower costs, and eliminate jobs.

Do either of these young millennials worry about what they are missing from the past? Not really.

They never typed or mailed letters, pursued jobs from classified newspaper ads, or bought music at Tower Records.

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They ignore the criticism that they don’t read books but do send text messages while teachers drone on in large lecture halls.

Are they concerned about allegations that their generation will cause the demise of American civilization as we know it? They don’t care.

Knowing the technical skills their generation brings to the table have largely developed as a result of their own energy, Dominik and Jan are participating in or even leading a revolution.

Their outcomes are not guaranteed. We can only hope Dominik does not get into trouble using his bitcoins for money laundering and Jan’s programming does not create robots that eliminate his own job.

Go for it guys!

More from Risk & Insurance

More from Risk & Insurance

4 Companies That Rocked It by Treating Injured Workers as Equals; Not Adversaries

The 2018 Teddy Award winners built their programs around people, not claims, and offer proof that a worker-centric approach is a smarter way to operate.
By: | October 30, 2018 • 3 min read

Across the workers’ compensation industry, the concept of a worker advocacy model has been around for a while, but has only seen notable adoption in recent years.

Even among those not adopting a formal advocacy approach, mindsets are shifting. Formerly claims-centric programs are becoming worker-centric and it’s a win all around: better outcomes; greater productivity; safer, healthier employees and a stronger bottom line.

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That’s what you’ll see in this month’s issue of Risk & Insurance® when you read the profiles of the four recipients of the 2018 Theodore Roosevelt Workers’ Compensation and Disability Management Award, sponsored by PMA Companies. These four programs put workers front and center in everything they do.

“We were focused on building up a program with an eye on our partner experience. Cost was at the bottom of the list. Doing a better job by our partners was at the top,” said Steve Legg, director of risk management for Starbucks.

Starbucks put claims reporting in the hands of its partners, an exemplary act of trust. The coffee company also put itself in workers’ shoes to identify and remove points of friction.

That led to a call center run by Starbucks’ TPA and a dedicated telephonic case management team so that partners can speak to a live person without the frustration of ‘phone tag’ and unanswered questions.

“We were focused on building up a program with an eye on our partner experience. Cost was at the bottom of the list. Doing a better job by our partners was at the top.” — Steve Legg, director of risk management, Starbucks

Starbucks also implemented direct deposit for lost-time pay, eliminating stressful wait times for injured partners, and allowing them to focus on healing.

For Starbucks, as for all of the 2018 Teddy Award winners, the approach is netting measurable results. With higher partner satisfaction, it has seen a 50 percent decrease in litigation.

Teddy winner Main Line Health (MLH) adopted worker advocacy in a way that goes far beyond claims.

Employees who identify and report safety hazards can take credit for their actions by sending out a formal “Employee Safety Message” to nearly 11,000 mailboxes across the organization.

“The recognition is pretty cool,” said Steve Besack, system director, claims management and workers’ compensation for the health system.

MLH also takes a non-adversarial approach to workers with repeat injuries, seeing them as a resource for identifying areas of improvement.

“When you look at ‘repeat offenders’ in an unconventional way, they’re a great asset to the program, not a liability,” said Mike Miller, manager, workers’ compensation and employee safety for MLH.

Teddy winner Monmouth County, N.J. utilizes high-tech motion capture technology to reduce the chance of placing new hires in jobs that are likely to hurt them.

Monmouth County also adopted numerous wellness initiatives that help workers manage their weight and improve their wellbeing overall.

“You should see the looks on their faces when their cholesterol is down, they’ve lost weight and their blood sugar is better. We’ve had people lose 30 and 40 pounds,” said William McGuane, the county’s manager of benefits and workers’ compensation.

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Do these sound like minor program elements? The math says otherwise: Claims severity has plunged from $5.5 million in 2009 to $1.3 million in 2017.

At the University of Pennsylvania, putting workers first means getting out from behind the desk and finding out what each one of them is tasked with, day in, day out — and looking for ways to make each of those tasks safer.

Regular observations across the sprawling campus have resulted in a phenomenal number of process and equipment changes that seem simple on their own, but in combination have created a substantially safer, healthier campus and improved employee morale.

UPenn’s workers’ comp costs, in the seven-digit figures in 2009, have been virtually cut in half.

Risk & Insurance® is proud to honor the work of these four organizations. We hope their stories inspire other organizations to be true partners with the employees they depend on. &

Michelle Kerr is associate editor of Risk & Insurance. She can be reached at [email protected]