287 - Deanna Mulligan on Talent and the Opportunity Gap

Today on the podcast, Tom Vander Ark is speaking with Deanna Mulligan on the topics of talent, leadership, and the opportunity gap.

Deanna grew up in a small town in Nebraska, earned an MBA from Stanford, and became the Principal Engagement Manager at McKinsey & Company. After working there for eight years, Deanna launched a career in insurance where, after a two-year sabbatical, she became the CEO of Guardian Life Insurance, one of the ten largest life insurance companies in America.

Additionally, Deanna served on the President’s Advisory Council on Financial Capability for Young Americans from 2014–2015 and was Chair of the Board of the ACLI from 2015–2016. In 2018, Fortune named her one of the “50 Most Powerful Women in Business” and in 2019, Crain’s New York Business recognized her as one of “The 50 Most Powerful Women in New York” — the fifth time since 2011!

In her new book, Hire Purpose: How Smart Companies Can Close the Skills Gap, Deanna shares how companies and education institutions can work together to close the skills and opportunity gap.

Listen in as Tom talks with Deanna about her career journey and her new book, Hire Purpose.

Key Takeaways:

[:10] About today’s episode with Deanna Mulligan.

[:55] Tom welcomes Deanna Mulligan to the podcast.

[1:00] About Deanna’s life and early education in a small town in Nebraska.

[1:18] How Deanna came to work at McKinsey & Company after graduating from Stanford.

[2:29] The lessons Deanna learned and the experience she gained during her eight years at McKinsey.

[3:22] What drew Deanna to insurance.

[4:04] About the two years Deanna took off prior to launching a career in insurance.

[7:33] How Deanna came to work for Guardian.

[8:11] Did Deanna’s two-year sabbatical shape her views on family leave?

[9:44] Deanna shares her reflections as the CEO of Guardian for nearly 10 years; how she thought about her role, as well as the biggest takeaways and lessons from her time as CEO.

[12:03] What Deanna learned about talent development as CEO of Guardian.

[13:26] Where Deanna’s idea for her book, Hire Purpose: How Smart Companies Can Close the Skills Gap, came from. She also shares how she connected with Greg Shaw, her co-author.

[17:40] Tom shares his experience with Greg Shaw and Deanna touches on what the overall process of writing Hire Purpose was like.

[18:22] How companies and post-secondary can work together to close the opportunity gap, and examples of organizations that are already doing this.

[21:54] While writing Hire Purpose, did Deanna and Greg have the chance to touch on the pandemic before it was released?

[23:12] Now that we’re deep in the midst of the pandemic, are there any additional footnotes Deanna would include in Hire Purpose if she were to release it now?

[23:56] While writing, did Deanna have any changes in opinion on certain topics or areas?

[25:55] Both Deanna and Guardian are very purposeful and values-based. Would Deanna say that establishing partnerships with shared values is the way to overcome and power through any challenges?

[26:35] Deanna gives recommendations and advice for young adults and professionals thinking about a career or starting a career during the pandemic.

[28:19] Tom thanks Deanna for joining the Getting Smart Podcast and congratulates her on her success with Guardian and her new book.

Mentioned in This Episode:

Deanna Mulligan

Guardian Life

Hire Purpose: How Smart Companies Can Close the Skills Gap, by Deanna Mulligan and Greg Shaw

Clayton Christensen

Hit Refresh: The Quest to Rediscover Microsoft's Soul and Imagine a Better Future for Everyone, by Satya Nadella and Greg Shaw

PTech.org

Infosys

The Power of Place: Authentic Learning Through Place-Based Education, by Tom Vander Ark and Emily Liebtag

Getting Smart Podcast Ep. 280: “Julia Freeland Fisher and Mahnaz Charania on Social Relationships and Networks”

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