Stacy Stanley, director of the Workers’ Compensation Program at FirstService Residential for the South, is a dynamic professional. She serves as an essential link between various individuals, like insurance providers, insured workers, and many more. Stacy manages especially the southern states of Florida, Georgia, Tennessee, North Carolina, and South Carolina. Her knowledge in property management has contributed to the expansion and development of some properties in Alabama and Mississippi as well. Stacy can effectively handle relationships with employees, managers, insurance companies, and even litigation. Her expertise and dynamic skills, make her a great asset to the organization and the communities she serves.
What are the current challenges or trends in the workers’ compensation space?
Handling a large amount of litigation is one of the major issues that the workers' compensation industry is facing, especially in places with high lawsuit rates like Florida. As a director managing more than 8,000 colleagues in several states, minimizing legal costs and ensuring prompt claim settlement becomes essential. This means monitoring work-related injuries, educating individuals about workplace safety procedures, and analyzing injury data to improve preventative tactics.
Industries are transforming due to technology, but real growth comes from our
capacity to adapt
We hope to stop future tragedies and improve field associate safety measures by giving leaders, managers, and regional directors thorough training on workplace safety procedures. Further, we can pinpoint areas for development and enhance training initiatives to lower the frequency and intensity of workplace accidents by evaluating injury data.
What are the benefits of streamlining operations through other tools integration, especially in communication and collaboration?
Integration of AI or other tools into our operations has greatly improved communication and streamlined the processes. For instance, traveling used to be a necessity for our business to conduct any meeting before the pandemic took place. Even during defense of lawsuits, I would visit the mediator's office, the courthouse, and other location. But when COVID-19 hit, we started working remotely.
The tools like Teams, also helped us to collaborate and communicate easily with people from different places. With the use of screen-sharing tools and virtual meetings, we were able to gather more often, talk about important issues, and share information effectively.
This relieved us from having to pay for transportation costs and allowed us to arrange several meetings in a single day without being limited by physical distance. Improved productivity, cost savings, and better operational effectiveness were achieved, leading to enhanced financial sustainability for all stakeholders involved.
What are the upcoming trends in the Workers’ Compensation field, and where is the industry heading in the upcoming years?
According to a recent organizational-wide study, eighty percent of employees wanted a hybrid work paradigm that combined office and remote work. As workers could use more time to work without travel worries, they were able to enhance production in addition to improving morale.
Looking ahead, moving to a new workplace space with an informal, Google-inspired vibe presents a fascinating challenge. My prediction is that the workplace will become more associatefriendly and flexible, with a modern, open-concept layout. IT technology advancements, such as Teams for communication, will enhance accessibility and streamline processes, leading to a more productive and flexible workforce in the Workers' Compensation industry.
What guidance would you provide your peers on adjusting to the changing business environment, particularly with the emergence of new technologies like AI?
My advice to colleagues would be to accept change while managing the ever-evolving corporate world, particularly with technology like AI. It's important to understand that change is unavoidable and somewhat helpful too. Accepting change can be made simpler by having faith in the company's goals and placing an emphasis on the welfare of the workforce.
As technology develops, it changes numerous aspects of our lives, including social connections, education, and economic operations. Being up to date with global advances and upgrading skills to adjust to technology shifts is crucial to maintaining competitiveness and prospering in the dynamic business landscape.
