Agenda

Introductions

Announce the case

Share context for case

Review our current approach

Revisit the case and considerations

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The Case:

You are the State Farm leadership team charged with developing a workforce strategy.

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In your strategy, include recommendations on how State Farm will cultivate a culture of purpose, connection and synergy when the workforce trend is towards versatile work arrangements.

State Farm’s Culture

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We believe in the power of relationships.

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When people feel authentically valued and supported, they contribute more meaningfully to collective learning and improvement.

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Tangible business outcomes:

• Hiring and retention
• Our brand and reputation
• Innovation and performance

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Welcome to Financial Operations

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Collaborative Environments

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Labor Market Demands

• In internal company exit surveys, “the ability to work virtually” was the 4^th top reason employees were attracted to another employer.
• This tends to be higher in highly skilled, knowledge environments

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• In an internal department-level survey, employees indicated they are highly satisfied with the flexibility provided to perform the job at a high level. (4.71 out of 5.00)

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• 7.4% of total postings across the U.S. were for fully remote positions in Mar. 2022, according to Emsi

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Our Approach To Date

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FOR INTERNAL STATE FARM USE ONLY. Contains information that may not be disclosed outside State Farm without authorization.

Guiding Principles

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State Farm’s Current Work Arrangements

~70% Hybrid

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~20% Fully Remote

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~10% In-Office

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The Case:

You are the State Farm leadership team charged with developing a workforce strategy.

​

In your strategy, include recommendations on how State Farm will cultivate a culture of purpose, connection and synergy when the workforce trend is towards versatile work arrangements.

Considerations

• Generational differences
• Preference towards interactions with bosses, work-life balance, etc.

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• Pre-pandemic hires vs. post-pandemic hires
• Those hired before Mar. 2020 largely has pre-established networks and affinities within the company and teams
• However, as employees move across departments or teams, they may not have the robust networks

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• Gen Z graduates
• 72% of Gen Z report sometimes or always feeling alone
• 75% of Gen Z and 50% of Millennials have left a job due to mental health reasons

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Source: Connectable by Ryan Jenkins and Steven Van Cohen

Considerations

• Are we asking the right questions?

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• Do we have the right mix of hybrid, remote, and in-office working arrangements?

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• What unintended consequences exist that we don’t see?

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• Should each team set their own parameters or should it be directed by a higher level of leadership?

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Grading

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Questions? ��

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The Case:

You are the State Farm leadership team charged with developing a workforce strategy.

​

In your strategy, include recommendations on how State Farm will cultivate a culture of purpose, connection and synergy when the workforce trend is towards versatile work arrangements.

Thank you!

FOR INTERNAL STATE FARM USE ONLY. Contains information that may not be disclosed outside State Farm without authorization.