4 min read

Abundance

Mar 20, 2015 6:30:00 AM

AbundanceI’m a graduate of Indiana State University. And no, we’re not the Hoosiers (a common question when I’m traveling outside of Indiana). We are the Sycamores. We are “almost famous” in my mind for two reasons. Those would be Larry Bird, and in the college of business, a nationally ranked Insurance and Risk Management (IRM) program.

Naturally, the legendary exploits of Larry Bird get more attention than the IRM program even though I’m equally proud of both. While I’m not writing about No. 33 today, rest assured I’m also not writing about the IRM program either. Well, not exactly.

Today I want to talk about abundance. It’s the idea that there is plenty out there for everyone. Leadership consultant Penny Tremblay describes abundance (and its antithesis, scarcity) like this:

Abundance Mentality

  1. Victory means success that brings mutually beneficial results to all involved.
  2. Recognizes unlimited opportunities for positive growth and development.
  3. Appreciates the uniqueness of others.
Scarcity Mentality
  1. Victory means success at the expense of someone else.
  2. Difficulty showing happiness for the success of others including family, friends, and business associates.
  3. Difficulty sharing credit, recognition, power, and profit.

My friend, and business advisor, Larry Linne is a big proponent of abundance: “My company uses abundance language as a part of our everyday existence. When we create a culture of abundance we allow ourselves to think big. Abundance thinking allows an organization to be free to collaborate, communicate, try and fail, try and succeed, and win more often. Scarcity creates fear that paralyzes people and is the instigator of failure."

So what in the world does that have to do with Indiana State’s IRM program?

Besides being a proud graduate, we have hired a number of Sycamore IRM grads at Gibson over the years. In fact they number about 13% of our 100+ employee workforce. I serve on the Dean’s Executive Council at the Scott College of Business, support several scholarship and fundraising initiatives, and regularly interact with the students. I love it when Indiana State’s IRM program is recognized and constantly look for opportunities to promote it. In other words, I’m a big fan.

The insurance industry is one that is aging quickly. By all accounts there won’t be enough talent to fill all the needs of the industry as Boomers leave the workforce. As much as I love Indiana State, they cannot meet the demand for future talent all by themselves. So six months ago when I was introduced to Eve-Lynn Clarke, I knew I wanted to help her.

Eve-Lynn runs the newly created Risk Management and Insurance program at the University of Saint Francis (USF) in Fort Wayne, Indiana. She said, “Our local insurance industry partners were strategically concerned with their aging work force and obtaining local talent. Hence we can bridge the gap for them.”

She’s an impressive choice for USF. With 20+ years as an internal and external auditor assessing financial, operational, IT, and enterprise risks in the financial services industry, she brings real-world experience to the position.

We got together for lunch and I relayed many of the successful initiatives I had seen at Indiana State. We discussed internships, fundraising, curriculum, and collegiate societies. I don’t know if I was much help to her (as she already has a great strategy) but I was happy to share.

She plans to grow USF’s program as a result of community partnerships, community and school outreach, and by building awareness of the opportunities in the insurance industry. She knows that it’s key for her program to remain sustainable and competitive.

At first glance, it might be natural to look at the Saint Francis program in Fort Wayne as competition for Indiana State. After all, I’d love to introduce Fort Wayne insurance companies like K&K Insurance, Medical Protective, and Brotherhood Mutual to the Sycamore program. They might even be sources of scholarship or other financial support.

Yet I don’t see it as competition at all. In fact, I’m rooting for Eve-Lynn and USF! There is plenty to go around for everyone. The way I see it, the better USF does, the more awareness there will be about the incredible job opportunities that exist in the insurance industry. That only serves to draw more young people into a dynamic industry and career choice that unfortunately doesn’t seem all that exciting on the outside.

What’s The Risk?

The risk is playing everything like it’s a zero sum game. This type of scarcity thinking creates fear and a protective approach. Abundance feeds everyone. Scarcity leads to starvation.

Larry sums it up well, “I would rather have more pie than we can eat than try to decide how to split a small pie among us.”

So good luck to the Cougars of Fort Wayne’s University of Saint Francis! That is unless you ever meet my Sycamores on the court. Then I won’t be cheering quite so loudly.

Topics: Executive
Tim Leman

Written by Tim Leman

Tim is Chairman and CEO at Gibson. He joined Gibson in 2005 as the Director of the Employee Benefits Practice and became a principal in 2007. He was named President in 2009, CEO in 2011, and elected Chairman of the Board in 2014.

With Tim’s leadership, Gibson has been selected as a Best Places to Work in Indiana, named to Principal’s 10 Best list for employee financial security, maintained its status as a Reagan & Associates Best Practices Agency, recognized as one of 20 Indiana Companies To Watch, and named to the Inc. 5000 list. Read Tim's Full Bio