Aspida Insurance: A ‘Fail Fast’ Approach Fuels a Thriving Workplace
When Aspida Insurance launched in 2020, Chief People Officer Sandy Ball saw an opportunity to build a company culture from the ground up. Her goal? To create an environment that would resonate with Gen Z and millennials, who now constitute approximately 80% of Aspida’s workforce.
“We were a startup. We needed an entrepreneurial mindset; we needed people that weren’t hung up in bureaucracy,” Ball explains. “Attracting and retaining the people that we wanted with this entrepreneurial spirit and this ownership mentality and the ability to collaborate: All that was really important to us.”
Ball’s nearly two decades of previous experience in HR and the insurance business provided valuable insights into building effective company cultures. She noticed in larger corporations that decisions often involved extensive consensus-building, limiting employee empowerment. In contrast, Aspida’s small startup environment necessitated a different approach, where employees at all levels felt empowered.
“People are making decisions at different levels and we move fast,” she says, emphasizing the importance of a “fail fast mentality” for Aspida’s 200 worldwide employees, 160 of whom are based in the U.S.
“If you’re moving fast, you’re going to make mistakes. But when you make mistakes, you fix them, you pivot and you move on, and I think that’s part of that entrepreneurial spirit,” Ball states. “If you want people to be innovative, you have to give them the latitude, the ability and the decision-making to move fast and to be OK with them failing as long as they learn from it.”
Ball notes that Gen Z workers often seek work environments that foster social connections. Aspida actively encourages these connections with a variety of initiatives, recognizing the value of workplace friendships.
“It’s definitely a benefit when you are working with people that you could call a friend or that support you in an environment that you really enjoy being at,” Ball says.
The insurance firm uses several strategies to encourage social bonds. These include assigning “ambassador” employees to new hires to assist with their integration efforts and to help answer questions. Additionally, the company organizes “speed-dating” sessions for new employees to quickly meet numerous colleagues and also holds “ask-me-anything” sessions with senior staff.
Aspida’s HR department also organizes straightforward engagement activities such as themed exercise competitions, and free lunch Tuesdays, intended to promote casual interaction between employees.
Ball believes that the company gets better collaboration and teamwork when employees form friendships, and the added element of a positive work environment results in “laughter in the workplace”. Ultimately, the strategy makes the working day better and encourages better teamwork.
Gen Z employees also tend to prioritize community involvement and aligning their work with company objectives; thus, Aspida’s managers help employees connect their individual contributions to the company’s overall goals and financial performance. Aspida’s community work in Durham involves school book drives and assisting with career days for a local elementary school.
Career growth is another key priority for younger employees, Ball says. To boost this, the company has an eight-month program for early careers and leadership development.
“I can’t necessarily control if they get promoted or not — that’s the managers,” she says. “But I can prepare them for their promotion. I can grow them where they are and I can give them tools, access to people and mentors, and training.”
Ball also advises that, rather than pigeonholing individuals by age group, HR should recognize the distinct needs of Gen Z while learning about what drives each employee individually.
“You have to understand your team and what they value, then adapt and put in the programs that attract and retain for your industry and your group,” she concludes. “People are always telling you what’s important to them. Are you listening?”
