The battle for talent within the financial services industry is fierce. Changing consumer behaviors, big data, workforce automation, and market disruption all contribute to the competitive labor market. Companies must adapt and transform to remain competitive, which is exactly what The Hanover Insurance Group has done.
“We are working to further enhance our workforce and our environment to be more modern,” says Bill Bailey, VP of HR at The Hanover. “Today, people in the workforce are looking for a place that’s more flexible, inclusive and diverse — all things that are important elements of our culture at The Hanover.”
The Hanover is one of the largest insurance companies in the United States and has underwritten property and casualty insurance for over 150 years. Based in Worcester, Massachusetts, The Hanover employs 4,300 people.
One of the many ways The Hanover retains top talent and draws in new talent is through its effective use of technology, including Dayforce HCM. By employing relevant technology, The Hanover has been able to improve the employee experience while giving the company an edge in the battle for talent.
“Integrated technology is expected of us,” says Cilsy Harris, CIO of Corporate and Enterprise. “Not having technology in place says you’re not here for the next generation of the workforce.”
The Hanover has partnered with Ceridian for over 10 years, referring to Dayforce as its “ecosystem” for a variety of employee-related tasks.
Dayforce is used for managed payroll, time and attendance, recruiting, onboarding, performance, compensation, and engagement. Having a single, integrated HCM solution is just one of the reasons The Hanover has been able to rise to the demands of the modern workforce and retain top talent.
“When looking at the future of work, HR technology is so key to our ability to maintain a positive employee experience,” says Bailey. “Dayforce is helping us in terms of retaining talent by helping to ensure that our experience is seamless.”
WATCH NOW: Strategies for attracting top talent
The Hanover’s HR team understands the value of engaging employees and being able to act on their feedback. The company, however, had not conducted an enterprise-wide engagement survey in several years due to not having an efficient and scalable system to manage it.
Some individual groups throughout the organization were conducting smaller-scale surveys, however the tools they were using were very administratively time consuming. “It took quite a bit of manual work to identify the audience and compile all the responses and comments to eventually assess their overall engagement,” says Marybeth Hunt, Senior HR Technology Specialist at The Hanover. “[The groups running the surveys] would take time to create their own dashboards and word clouds and that would be shared and posted outside the leader's office for everyone to see. It was very administratively heavy.”
Using Dayforce’s engagement feature, The Hanover is now able to build surveys quickly and track feedback efficiently in one central location. “We launched a survey to our actuarial and analytics organization of approximately 100 employees in 10 days,” says Hunt. “With Dayforce, we were able to create and publish a survey quickly and easily, and provide real-time results to our business partners. The leaders could view the high-level results and see the information broken down by the direct reports to get a more detailed look.”
The tool’s ease of use also led to increased survey participation by employees, as the process to complete the survey was simplified. The HR team is able to gain valuable, actionable feedback from employees in real-time, and share those results with leadership for better visibility and smarter workforce engagement.
As The Hanover has expanded its use of Dayforce over the past few years, it has achieved 100% adoption of the platform across the company. This widespread adoption has increased the HR team’s efficiency, allowing for all employee data to be stored in one place.
“Having technology to make my job more efficient is very important to me, and it shows we are progressing forward,” says Colleen Ellsworth, Director of Innovation Development. “Dayforce is a system we use on a regular basis.”
Looking forward, The Hanover will continue to provide feedback and partner with the Ceridian team to improve the technology through first-hand experience.
“The relationship we have with Ceridian is a very solid give-and-take. We spend a lot of time outlining what our challenges are, and Ceridian works to serve up solutions,” says Bailey. “We look at things from a long-term perspective — not only what the tool can do today, but where we want the tool to be in the future. Change is inevitable in the HR space, and having a partner like Ceridian allows us to meet the needs of the future workforce.”