LIFE UNDERWRITER: Employer

LIFE UNDERWRITER: ROLE PLAYING SCRIPT FOR EMPLOYER,
Mrs. Heer, UCONN, SPRING 2008

It is Spring 2008. You are the Human Resources Vice President of Columbus Mutual Life Insurance Company, headquartered in Columbus, Ohio. Because Hartford, CT is considered “The Insurance Capitol of the World”, your company has decided that they need a presence in Hartford, and you have been sent there to make all hires and insure that the business is ready to start as soon as the new offices are complete, June 1st, 2008.This new group will tap into their large network of insurance providers, allowing them to pick the best quotes from the top national insurance providers as well as the insurance agents in the Hartford area. The company’s specialty has been to establish a personal relationship between the Life Insurance agent and the client.

Every year, Columbus Mutual hires dozens of graduating seniors and others into various positions nationwide. These positions are highly sought after, and the competition is fierce. This new group's focus will require just the right team to successfully begin operation, establish a presence in the Hartford area, and be competitive and profitable. You are well aware that some of Columbus Mutual’s most successful executives are UCONN graduates, because of the school’s excellent reputation in the insurance business. Many started out in underwriting positions and advanced through the ranks to become today's leadership in the company.

You have been swamped with applicants for your team, and you have already hired five highly qualified applicants. You've been hiring for these positions for many years now and know the type person who would fit well in the company culture and share the values of Columbus Mutual. It is especially important for your new team to not only have excellent qualifications in all aspects of the insurance business, but knowledge of the area, experience, intelligence and most important, the drive to make this new office successful.

The team you have chosen to date has outstanding skills. But every once in awhile, an applicant comes along who shows you something more! You know immediately that this person would be of great value to Columbus Mutual for many, many years, and you may soften on driving a hard financial bargain because of the person's exceptional potential. You're never quite sure what that something special is, but you know it when you see it, and you see it in Ms. Sieburg.

You interviewed her yesterday. You were impressed with her poise and her work ethic as revealed when she discussed her experience with her parent's insurance agency in Danbury, CT and her 2 internships with large Hartford insurance firms. She has exactly the qualities Columbus Mutual seeks in newly hired staff, and especially for this new office.

At the end of the interview you offered her a Life Underwriting I position, and asked her to return today to set her salary and start date. As the consummate HR professional, you surveyed the market rates for underwriting salaries in order to offer competitive salaries. Www.wageproject.org tells you that for the job title Life Underwriting I, the salary range is $40,000 to $52,000 with a median salary of $46,000 for the Hartford office. The benefits for this position add another $19,000 to the compensation package.

Because Columbus Mutual is such a desirable employer and so many fresh-minted graduates want to work for you, you typically offer new hires the low end of the salary range. Last year, the starting salary for this position was $40,000. In this prolonged recession, you don't see any reason to start with an offer any higher than that. In fact, three of your other hires have already accepted offers at that salary. Your benefits package for this position is approximately $13,000.

Ms. Sieburg's job offer is the last piece of your work for the day. You have to leave in 15 minutes to return to Columbus. When you and Ms. Sieburg sit down to talk, your opening lines to her are:

“We're so pleased that you want to work for Columbus Mutual. You'll be a wonderful addition to the company and our new team.

We have just a couple details to settle and you can sign our contract, and we'll see you after graduation.

I am authorized to offer you a starting salary of $40,000. You will be entitled to the standard benefits package all new employees get of $1300, and we'd like you to start work in the new Hartford office on June 1, 2008.

If that's okay with you, please read over this contract, sign it and you'll be one of the Columbus Mutual family!”

See how she reacts. Listen to her. Write down what points might persuade you to raise this offer. Write down what language she might use that would make you hold the line and not raise her starting salary and why. Write down what objections you would have if she wants more money. Discuss thoughtfully with her because you want her to accept your job offer.

In this discussion, see what is the lowest starting salary that you can get her to accept and get her to accept a specific salary in the 15 minutes before you have to leave.

Remember, you made her a job offer because you were very impressed with her. Now it's time to get her to work at Columbus Mutual.

Good luck!