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CASE STUDY

HQ Location: Worcester, MA, USA

Employee Size: 26,000

Industry: Finance

Activity: Insurance provider

Future Leaders Learning Programme Puts Business Analysis at Core at The Hanover

The Hanover Insurance Group, Inc.(NYSE: THG) is a leading property and casualty insurance provider based in Worcester, Massachusetts in the United States. The company distributes its products through independent agents across the country. Established in 1852, The Hanover has grown to rank among the top 30 property and casualty insurers in the United States with more than 4,000 employees.

The Challenge

One of the core skill sets identified as being critical to The Hanover’s continued business success is that of business analysis. For the past five years, The Hanover has partnered with TwentyEighty Strategy Execution to deliver instructor-led learning to business analysts in its technology division. There were, however, business analysts in the business areas of the company as well.

With approximately 200 business analysts across the company, The Hanover’s leadership sought to formalize an enterprise wide strategy for positioning the business analyst role as a pipeline for analytical and operational roles. With the implementation of its Future Leaders Programme in 2009, work was begun on developing a consistent profile for entry-level business analyst talent at The Hanover.

The Strategy

“We believe that offering a range of learning opportunities greatly increases the programme’s success. By combining what we could offer in-house with TwentyEighty Strategy Execution’s various, interactive modalities, we have achieved a robust solution”

Ken Joseph,
Business Learning Manager The Hanover

With approximately 200 business analysts stretching across multiple lines of business, bringing enterprise-wide focus to this role as a career-growth opportunity is a winning strategy. Planning for the programme focused on a number of key strategic goals, including:

The Hanover chose to partner with us to guide the development and implementation of this new programme.

“It was clear that TwentyEighty Strategy Execution was the ideal choice as our partner for this programme,” said Irene Brank, Assistant Vice President and Director of The Hanover’s Future Leaders Programme. “Their direction, commitment and support have helped us chart the path to this initiative.”

The Solution

The Hanover and TwentyEighty Strategy Execution began by mapping a set of core competencies for the Future Leaders Programme, which was divided into two broad career focus areas: business management and risk management. Assessment tools to effectively benchmark and evaluate the progress of programme participants were also developed.

Once recruited into the two-year programme, candidates are assigned an IT or non-IT career track. At the conclusion of the two years, candidates will find placement in a role that allows them to continue to grow their career. To ensure participants have the skills and knowledge they need to be leaders, the Future Leaders Programme guides participants through a range of learning opportunities:

The programme’s design ensures that learning and reinforcement take place before, during and after classroom training. Pre-class webinars create a foundation that prepares participants for specific learning events and reinforcement workshops conducted after courses further reinforce key competencies.

“We believe that offering a range of learning opportunities greatly increases the programme’s success,” said Ken Joseph, Business Learning Manager, The Hanover. “By combining what we could offer in-house with TwentyEighty Strategy Execution’s various, interactive modalities, we’ve achieved a robust solution.”

The Future Leaders Programme also offers coaching and mentoring, as well as the opportunity to earn professional and technical certifications including Actuarial, Business Analysis, and INS certifications.

As university graduates progress through the programme, the company’s current leaders also undergo targeted learning based upon position and role, which promotes consistent knowledge across the organisation. These include:

Results

“The programme is already delivering clear benefits to us. Much of the benefit is a direct result of the emphasis we are placing on business analysis for decision making, which is changing the way our company approaches its decisions.”

Greg Tranter, Senior Vice President and COO
The Hanover

The Future Leaders Programme builds upon the success of TwentyEighty Strategy Execution’s outstanding partnership with The Hanover, which has demonstrated:

While still in the early stages, the Future Leaders Programme has begun to deliver decisive impact by:

Each year, approximately 75 future leaders are accepted into the programme. At this rate almost 10 percent of the company will have completed the leadership programme in the next five years.

Planning Forward

“Despite the early stage status of the programme, it’s already delivering clear benefits to us. Much of the benefit is a direct result of the emphasis we’re placing on business analysis for decision making, which is changing the way our company approaches its decisions.”

Greg Tranter, Senior Vice President and COO
The Hanover

The Hanover and TwentyEighty Strategy Execution are identifying ways to further enrich the programme. Specific considerations include:

Need More Information?

Contact one of our Business Development Managers by calling +44 (0)20 3743 2910 or by sending an email to info@strategyex.co.uk

 

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