New York Life recognizes an oncoming “demographic tsunami” of transitioning leaders that looms due to an aging workforce. With 120 sales offices, New York Life has spent the last five years addressing this major concern and continues to plan for the future through new leader development programs and continued learning opportunities.
New York life recognizes itself as a business built on trust and relationships that must continue over the generations if the company is to remain successful. As many managers pass into retirement in the coming years, retaining this culture of trust becomes a strategic initiative. Over the last five years, 30% of leaders on a local level have been replaced and yet the business has grown. This demonstrates their success in transitioning to a younger management team.
It has become part of the culture to reinforce continued education for managers as they progress through their careers as individuals and develop their sales people. This approach reinforces the values of trust, relationships and development to new managers who will run the company in the future as well as those with many years of experience. New York Life recognizes the basic fact that they would not have been around for 160 plus years if they did not take these issues seriously.
“I’m grateful to be in this network. The calls I had with other members gave me the information I needed to move my project forward.”Annette RollsLeadership Development Program Designer, Boeing
“We were able to realize almost immediate value—in terms of definitively quantifiable savings—by implementing the concepts introduced during this [Art of Negotiation] program.”Ken MurphyEVP of Sales and Operations, Mattress Firm
“In my particular case, I certainly care about the HR functions, but that’s not why I wake up every day. I care about advancing the ball down the field with our people’s professional development skills and knowledge. You guys focus 100% on the learning piece, and that’s what I like.”Jim StewartCLO, Teradata