Skip to main content

Q&A With Millennial CEO And Book Author Rick Lindquist

Rick Lindquist

Millennial Rick Lindquist is making his mark in the business world and enjoying the success of his co-authored 2014 bestseller book, The End of Employer-Provided Health Insurance. Lindquist, in his 30's, is the President and CEO of Zane Benefits, Inc. 

He joined Zane Benefits as its thirteenth employee in 2007. He was promoted to Director of Sales in 2009 and took over as President in 2011. Rick received a Bachelor of Science in Economics and a Bachelor of Arts in Computer Science from Duke University.

Today, he kindly answered questions about leadership, mentors, his book, and Millennials in the workplace.

Q&A with Rick Lindquist, President and CEO of Zane Benefits, Inc.

1.  Which of your leadership skills helped you most to rise through the ranks at Zane Benefits?

Lindquist: Professional will, which is defined in Jim Collinsā€™ famous book, Good to Great. My parents taught me this concept at a young age, and it was reinforced through sports. Itā€™s a simple concept. First, you must do whatever must be done to produce the best long-term results for the company, regardless of how difficult it may be. Second, when mistakes are made, you always hold yourself accountable rather than pointing fingers outward. Professional will and general curiosity are two core leadership skills we look for in team members at Zane Benefits. Curiosity is the sign of a world-changing, great, individual.

2.  How much of what you read in books and on Blogs about how to lead Millennials do you believe is good advice. Why or why not?

Lindquist: I just read The Alliance by Reid Hoffman, the founder of LinkedIn. Itā€™s a terrific book about leading all workers (especially Millennials) in todayā€™s workforce. It emphasizes a framework that ensures continuous mutually-beneficial value creation between employer and employee. Todayā€™s workers are more empowered than ever. In order to attract, develop and retain the best people (especially with respect to Millennials) in todayā€™s job world, you must have a plan to advance your workersā€™ career opportunities during their time with you. Good advice.


 3.  What inspired you to co-author your book?

Lindquist: It was all about empowering the healthcare consumer and small business owners through education. At Zane Benefits, we help small businesses level the health benefits playing field. Our approach is quite different than the traditional approach to company health insurance where the employer picks one plan for everyone. Instead, we enable each employee to purchase their own individual health plan independent of employment and provide a real dollar defined contribution from the company to cover the cost. Contrary to common belief, everyone wins with our solution because the employee gets choice and lower premiums and the employer saves money and removes a significant administrative burden. The book is about sharing our learnings from eight years at Zane Benefits with all small businesses and educating employees on the advantages of individual health insurance.

4.  What was the most difficult thing about co-authoring your book?

Lindquist: It was definitely the timeline. We decided to write the book in July 2014 and had a deadline of November 2014, which is when open enrollment happens for individual health insurance. That gave us roughly four months to get the project done and edited (while also running a fast growing software company). It was hard, but with the help from some key team members (especially Christina Merhar and Michael Dyer), we got it done. It was totally worth it. The emails we receive from readers thanking us for the content are fulfilling.

5.  What leadership skills did you learn while playing sports in high school and college do you use today in the workplace?

Lindquist: Itā€™s funny. I love hiring athletes because high-level sports teach two core leadership skills: professional will and curiosity. Great athletes recognize the need to do whatever is necessary for the long-term interests of the team. And, the best athletes (the captains) nearly always hold themselves accountable versus pointing fingers at teammates. Also, the most successful athletes have learned the benefits of being curious. Curiosity, or asking why and how, is the shortcut to winning in athletics. The same applies to business.

6.  What are the advantages and disadvantages of being a CEO in your early 30's?

Lindquist: Not sure there are any disadvantages. I love my job. It doesnā€™t feel like work. Iā€™m so lucky to be able to lead (and be led by) a team of great people who share my number motivation: Zane Benefitsā€™ mission to level the playing field for small businesses.

7.  How important have mentors been to your career?

Lindquist: Huge. I would not be here without them. There are way too many to list. Iā€™m talking hundreds (if not thousands) of people. Other than my parents, the most influential mentor so far has been my partner and co-author, Paul Zane Pilzer. Without Paulā€™s mentorship and full support, I would not be here today. That reminds me of a funny story about Paul and my first meeting. When I first interviewed with Paul in 2007, I asked him about Zane Benefitsā€™ company health insurance plan because my father had told me: ā€œA good job comes with good (employer-provided) health insurance.ā€ My fatherā€™s advice was ignored when I accepted Paulā€™s job offer and purchased an individual health insurance policy for $57 a monthā€”I am still with the same insurer today.

8.  What's your favorite book about leadership and why?

Lindquist: Good to Great. It validated my core values with respect to leadership style. The best CEOs are Level 5 Leaders which is defined as someone with both professional will and unflinching humility. It also gave me a framework to better lead people way smarter than me. Hereā€™s our version of the framework as we apply it at Zane Benefits. First, get the right people on the bus, then figure out the what. Second, confront the brutal facts of the business. You must do this together. Third, figure out what you are all deeply passionate about, what you can be the best in the world at, and what drives your economic engine. The intersection of these three circles is your BHAG, or big hairy audacious goal, The BAHG forms the basis for your companyā€™s great opportunity. Fourth, create a culture of self-disciplined people who take disciplined action consistent with the big hairy audacious goal. Fifth, use technology to accelerate momentum. And, manage the company toward continued improvement and results.

9.  What's your advice for how best to lead Millennials in the workplace?

Lindquist: First, cancel your group health insurance plan if you have one and give employees money so they can choose, manage and keep their plan when they switch jobs. : ) Seriously though, the best advice on leading Millennials is to recognize that they are not joining your company to be ā€œlifersā€. They are focused on building experience and skills toward personal professional goals that develop rapidly as they advance in their careers. The only way to attract them, develop them, and keep them is to ā€œgive them the keysā€ in a structured fashion and work together in a mutually beneficial way. Read The Alliance for more.

Lindquist and his book have been featured on Marketwatch, MSN, Forbes, and Bloomberg. You can follow the him on Twitter.

Co-author and mentor to Lindquist, Paul Zane Pilzer

Comments

Popular posts from this blog

5 Tips For Generating Ideas From Employees

Your employees have lots of ideas.  So, be sure you provide the forums and mechanisms for your employees to share their ideas with you.  Hold at least a few brainstorming sessions each year, as well. And, when you are brainstorming with your employees, try these five tips: Encourage ALL ideas.  Don't evaluate or criticize ideas when they are first suggested. Ask for wild ideas.  Often, the craziest ideas end up being the most useful. Shoot for quantity not quality during brainstorming. Encourage everyone to offer new combinations and improvements of old ideas.

Great Business Quote

Here's a great quote from author and speaker Harvey Mackay : "When a person with money meets a person with experience, the person with the experience ends up with the money, and the person with the money ends up with the experience."

Top Five Factors That Drive Employee Loyalty

A 2010 survey by the Society for Human Resource Management shows that job security is what matters most to employees. And, having that job security helps to keep employees loyal.  Okay, that's really not too surprising during these times of high unemployment. Next on the list is benefits . The unstable economy, coupled with rising health care costs, make employer offered benefits more important than ever. Third on the top five list is an employee's opportunity to use his/her skills . When employees feel good about their jobs and their abilities, and clearly know they are contributing to their organization they remain engaged and loyal.  In fourth place is an organization's financial stability . Compensation came in fifth on the top five list. Employee pay often is not the most important driver for employee retention.  Despite study after study that shows pay is not the top reason employees stay with a company, research results like these often surpris...

Do You Really Need To Read Leadership Books?

The answer is yes.  And, fortunately, there are lots out there to select from.  However, if you don't have time to read books about how to be an effective and good leader, you can select a few words from the list below and then practice what those words mean, as you lead your team every day. Leaders on the LinkedIn Executive Suite group came up with these nearly 50 words in answer to a discussion topic I posted in the group forum:  " A Good Leader Is [insert one word]."  A big thank you to that group for this valuable list. Accountable Adaptable Approachable Authentic Aware Bold Brave Candid Caring Clear Challenging Charismatic Compassionate Courageous Credible Decisive Dedicated Ethical Empowering Engaged Fearless Forward-Thinking Gracious Honest Humble Inclusive Influential Inspiring Intuitive Loyal Mindful Moral Motivating Objective Open Passionate Pro-active Receptive Responsible Respectful Skilled S...

Use A Board Of Advisors

David Burkus often provides valuable comments to my various Blog postings, and he's a person who effectively uses a board of advisors, instead of mentors, to help him achieve success. "I've found that in my life, it was easier and more effective to set up a board of advisors," said Burkus, the editor of LeaderLab . "This is a group of people, three to five, that have rotated into my life at various times and that speak into it and help me grow. I benefit from the variety of experience these people have." LeaderLab is an online community of resources dedicated to promoting the practice of leadership theory. Its contributors include consultants and professors who present leadership theory in a practitioner-friendly format that provides easy-to-follow explanations on how to apply the best of leadership theory. Community users can download a variety of research reports and presentations about leadership and leadership versus management. For example, a pr...

"Great Places To Work" Employee Perks

StLouis magazine is featuring in its January issue 60 companies that they deemed "great places to work". Helping those companies to earn that honor are the perks they give their employees, some of which you might want to consider for 2011. Here's a sampling of the perks that cover the vast range offered by the 60 companies: ARCO Construction Company -- Paid sabbaticals after every five years with the company Armstrong Teasdale -- Women's career-coaching program Bryan Cave -- Backup day-care/elder-care services Build-A-Bear Workshop -- Health Insurance for part-time employees Boeing -- Continuing education tuition support Centene Corporation -- Dry-cleaning pick-up/delivery; on-site car washes and oil changes HOK -- Paid paternity leave LarsonAllen -- Development coaches for employees Maritz -- Health fair Monsanto -- Lactation rooms Nestle Purina PetCare Company -- On-site tailor Ralcorp Holdings -- New jobs listed internally first Scottrad...

Go Old School...Use A Flip Chart For Gathering Ideas

Here's a great idea from communications consultant, speaker and author David Grossman : And, yes it's old school. But, it works! Grossman recommends that when you have something you want to get your employees' input on, post a question on a flip chart in your department or office. Provide Post-it notes, and watch the ideas grow as employees post their ideas on the flip chart. This is an informal focus group of sorts, where employees can freely and without feeling pressure, share their ideas, see others' ideas, and then suggest even more ideas. You'll get great collaboration without a meeting!

The Benefits Of When Everyone Leads

Itā€™s only January and the new book, When Everyone Leads , could likely be my pick for the best new leadership book of 2023. Itā€™s that good. Thereā€™s still nearly a whole year ahead of us so weā€™ll see what other books debut. In the meantime, add this book to your must-read list.   Youā€™ll learn that: Leadership is an activity, not a position. Leadership is mobilizing others to make progress on the most important challenges. Leadership is interactive, risky and experimental. Leadership comes in moments. Leadership is always about change.   When Everyone Leads , by Ed Oā€™Malley and Julia Fabris McBride , presents a revolutionary approach to leadership; not based on position or authority, but an activity that anybody can undertake by learning to spot opportunities for improvement and taking the initiative to engage others.   ā€œIt can be unfamiliar and uncomfortable, but in a culture where everyone leads, organizations start to make progress on their most difficult proble...

Experts Offer Advice For How To Lead During 2021

  Today, the following expert business and leadership book authors shared their advice for how to effectively lead during 2021 . My question to them was:   What is your advice for leaders as we enter what is surely to be a challenging 2021 for most businesses? Fred Dust -- Author of   Making Conversation: Seven Elements of Meaningful Communication ā€œThereā€™s been a surprisingly joyful outcome of 2020ā€”quite simply, leaders are seeing those they lead as humans. Theyā€™ve seen them wrestling with children, in trying to manage personal and professional challenges at home, more Zoom gaffes than we can count, etc., which has given employers a deeply humanistic view of those they manage.  ā€œThe converse is also true. Mangers, leaders, and CEOs are grappling with the sameā€”noisy toddlers, spouses who are also navigating unprecedented schedules, faulty technology, etc. This recognition of humanity is significantā€”I myself paused a team meeting yesterday when ...

Communicate Often And Tell A Story

"Most leaders' visions fail, not due to a leader's inadequacies, but due to the leader's lack of communication," said Margaret Reynolds of Reynolds Consulting, LLC in Lee's Summit, MO. Reynolds shared her expertise with me recently during an interview. She added that it's not that leaders don't communicate, but that they don't beat the drum regularly enough. "Leaders need to communicate often, regularly and consistently," she recommended. "In terms of how to communicate so people get it, it is pretty widely accepted that story telling is the most effective," explained Reynolds. Leaders need to paint a vision where people see it often. She recommends that leaders share their vision at least seven to 10 times with their employees, and to make it clear to everyone what specifically each person can do each day to help achieve the collective mission. Reynolds' other advice to leaders is to be one who: ā€¢listens with respect...