Lifelong Impact: Enhancing Employees’ Careers

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Author

Gene Stone
2nd Vice President, Professional Development, Education and Training
LIMRA and LOMA

March 2025

In today’s competitive landscape, an organization’s most valuable resource is its people. To thrive, companies must prioritize thoughtful and innovative talent strategies to develop and retain top talent. A LinkedIn report suggests that employers who foster a strong learning culture benefit from improved business outcomes — including 57 percent higher retention, 23 percent more internal mobility, and 7 percent more promotions to management. These outcomes may be achieved through continuous development and retention of top talent.

Continuous Development: Prepare for the Future

A survey of C-suite executives estimates 47 percent of their workforces are unprepared for the future of work. Similarly, 74 percent of talent and development professionals believe a skills gap exists at their organizations. The good news is that employees are willing to build knowledge and skills to excel in their roles. A LOMA survey found that the top three reasons workers take a course are to enhance industry knowledge, prepare for future roles and improve credibility. Addressing the skills gap through continuous learning and professional development is crucial to prepare your workforce for future challenges.

Retention Strategies: Keep Top Talent

Gallagher research among U.S. organizations finds retention is the main priority for human resources (62 percent) and the second highest for operations (45 percent). Employees agreed; in a CNBC study, over three-quarters of employees said they’d stay with their current company long-term if it offered better professional development opportunities.

Importance of Understanding the Industry

As an industry, the potential for innovation and the importance of our purpose must remain central to how we move ahead. By prioritizing development and retention of top talent, your organization helps ensure your employees exceed performance expectations. Investing in your employees is not just a strategy for success, but a commitment to building a resilient, innovative and high-performing workforce. A quintessential part of this strategy is integrating professional development opportunities throughout your employees’ career journey.

LIMRA and LOMA Vice President of Professional Development Carie Crane emphasizes, “Having a clear understanding of what we do and how we do it as an industry, gives us the right tools to work productively and effectively with others.”

This understanding is crucial for fostering a collaborative and efficient work environment. Employees who have a solid foundation of industry knowledge can contribute more effectively to their teams and the organization overall. In a survey of LOMA course participants, 93 percent believe LOMA courses prepare them well for the future of work, while 98 percent say real-world examples in the courses help them in their day-to-day work.

Expand Knowledge and Enhance Understanding

Many companies prioritizing industry education support professional development through comprehensive programs, like LOMA’s globally recognized Fellow, Life Management Institute (FLMI) program.

Since 1932, FLMI has helped over 110,000 industry professionals worldwide deepen their understanding of the insurance and financial services business. The program includes 10 courses across three levels, providing industry-specific business education in the context of the insurance and financial services industry. Covered topics include compliance, finance, institutional investing, life insurance, management and leadership, marketing and business acquisition, operations and administration, and risk management and product development.

Last year, over 1,100 industry professionals from more than 60 countries earned their Fellow-level designations.

Many FLMI participants (95 percent) find the knowledge gained through the program valuable in their roles, with over 99 percent recommending the courses to colleagues — underscoring the program’s effectiveness in fostering a deeper understanding of the industry.

"While my primary role is leading and developing a dynamic sales force, I recognized early on that true leadership in this field demands expertise beyond sales. The FLMI program provided me with invaluable insights into insurance administration, operations and strategic decision making, all of which have enhanced my approach to business."

~ Brenton Hilaire, FLMI, Insurance Sales Manager, Sagicor Life Eastern Caribbean

Equip Your Workforce for Future Successes

Commitment to professional development is a strategic imperative that benefits both the organization and its employees. By integrating comprehensive learning opportunities into the career paths of your workforce, you not only enhance their skills and knowledge, but also reinforce innovation, resilience and excellence. Furthermore, embracing a culture of continuous learning and professional development creates a dynamic and adaptable workforce ready to tackle future challenges.

As the industry evolves, companies that prioritize the development and retention of their talent will be better equipped to innovate and lead. This holistic approach ensures that your organization is well positioned to meet the evolving needs of clients and continue delivering exceptional service in an ever-changing landscape.