In no other industry are sociable skills more critical for success than insurance, according to a study by PsyMax Solutions, a Cleveland human capital assessment firm.
" Sociability in the workplace means being able to relate to others in a highly-engaging, expressive and lively style," said PsyMax Solutions CEO Dr. Wayne Nemeroff. "Of course, sociability won t by itself guarantee success in any particular business or organization. But based on comprehensive scientific and statistical data sociable skills emerges as a strong predictor of success in insurance when compared with others."
The firm analyzed data from 12 industries as well as the work styles of over 13,000 employees and identified the behaviors and skills of the most effective managers in each sector. Insurance has the highest industry score for sociability. In contrast, the research and scientific sector trailed all others in the need for sociability.
PsyMax Solutions provided sociability rankings for the 12 industries in the study:
Rank | Sector | Score | Rating
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1. | Insurance | 78.8 | Very High |
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2. | Healthcare/Medical Services Utilities Personnel/HR/Training Education | 65.5 | High |
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3. | Retailing/Wholesale General Manufacturing Accounting/Banking/Financial Services Communications/Telecommunications Computer/Office Equipment | 57.9 | Average |
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4. | Pharmaceutical/Medical Products | 38.2 | Low |
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5. | Research/Scientific | 18.4 | Very Low |
Insurance has changed from a largely transactional business to being more relationship-oriented, said Nemeroff. "With the consolidation in the insurance industry, companies have found that customers are placing more value on the personal touch that they perceive is being lost in dealing with the bigger companies. The shift has driven employers to recruit outgoing people and encourage employees to develop a sociable work style. Now insurance companies use behavioral assessment to identify sociable applicants and reduce turnover and associated costs."
According to Nemeroff, assessment of applicants and employees helps in the selection and development of new people, builds bench strength and ultimately develops the next generation of leadership. "And for individuals assessment helps clarify a career path in alignment with what s needed for success in an industry."
Nemeroff cautioned that a low sociability score should not necessarily preclude the success of a particular individual. "Our statistical models shed light on overall patterns and aspects such as industry fit, but they shouldn t automatically disqualify anyone from an opportunity. A person may project other competencies and behaviors which are more valued and likely to increase their chances for success in a specific industry."
Founded in 2002 by Dr. Wayne Nemeroff and headquartered in Cleveland, PsyMax Solutions is a pioneer in the application of smart systems to human capital assessment for employee selection and development. For more information call 440-603-9000 or visit www.psymaxsolutions.com.
Contact: Dr. Wayne Nemeroff, CEO, PsyMax Solutions, 440-603-9000, or Shari Fryer, Shari Fryer & Associates, 970 846 6607.
