Issue link: http://read.dmtmag.com/i/144562
ªªªª ªªªªª ª Son, you have a firm grasp of the obvious. from President and CEO Joseph J. Annotti, American Fraternal Alliance "Son, you have a firm grasp of the obvious." ... I won't lie; more than a few folks – college professors, bosses, relatives – have uttered those words to me over the years. But I've found that it's sometimes important to come to grips with the realities that stare you in the face – realities for which neither hope nor denial is an effective strategy. Over the last few weeks a few of those "obvious" factors about the fraternal sector of the life insurance industry, trade association management, and business in general have made themselves clear to me. And I'd like to share those with you. 1) It's all about people. I've heard presentations from some terrifically talented fraternal executives at Alliance Mid-Year meetings over the past few weeks, who drove home the message – through both their knowledge and their enthusiasm – that, unless you have the right players on your team, all the coaching in the world won't make much difference. Listening to both the seasoned professionals 18 and the relative newcomers to attracting or retaining top talent the system will absolutely restore is pretty slim. Governance is at your faith that the future for some the heart of any organization's societies is very bright. success. If you The one nugget I pulled don't know why the from a professional society exists and speaker at another if your structure industry conference precludes you from If you don't was this: be quick to making consistently fire and slow to hire. If excellent decisions know why the you've got an employee – about products, who consistently can't society exists and pricing, distribution, pull his or her weight, member benefits, and cut your losses as if your structure community service quickly as possible, activities – to support even though making precludes you your clearly defined such a change may be mission, then it's time temporarily disruptive. to put this issue front from making All the turmoil will and center at your next be smoothed over board meeting. consistently if a thorough and methodical search and 3) Capital. excellent hiring process yields You, your board, and the right individual for management decisions ... to your can know the your organization. But team in order to attract the decisions you need support your best possible talent, to make and have you've got to have a to clearly defined the authority you make couple of other things them, but if don't going for you. have the financial mission, then it's capacity to invest in 2) Governance. the organization (and time to put this as fraternals, we have If your organization – and the executives and very limited ways to issue front and access capital), all the managers who are paid to make it successful good intentions in the center. – are constantly world won't improve hamstrung by a your bottom line. It is decision-making structure that NOT the thought that counts – hasn't been updated since the it's the action. And actions that early 1900s, the chances of you stimulate growth – in sales, in ª National Catholic Forester