Top Workplaces: Markel, third place for mega company

Locally, the company is known primarily as a provider of specialty insurance and employs just over 1,000 associates in the Richmond region.

Much of the company’s success in recent decades has been attributed to the late Alan Kirshner — he died in March — who joined Markel in 1960 and became chairman of the board and CEO in 1986. Kirshner crafted what’s known as “Markel Style,” a set of principles and values meant to define the company’s culture. Among them are pursuit of excellence while maintaining a sense of humor; honesty while seeking to improve the company’s financial position; a respect for authority coupled with a disdain for bureaucracy; and an individual’s right to self-determination alongside a willingness to put aside personal instincts to serve a team approach.

“At Markel, we really think about our distinctive company culture,” Chief Human Resources Officer Sue Davies said. “We enjoy what we’re doing — innovating, creating, striving for a better way, sharing success with others.”

Insurance is a business built on relationships, Davies noted. “When you think about the kinds of risks we insure, these are strange products where people hope they’ll never have to use (the coverage). When we’re delivering on our promise, it’s (the client’s) worst day. That trust and belief that we’ll deliver on that promise is fundamental.”

At Markel, trust is built by putting people first. “It’s people who give us the ability to create intelligent solutions even though what we’re dealing with is often complex risk management needs,” Davies said. “(It’s about) relationships that develop with colleagues and with brokers and with clients.”

Responding to employee feedback, Markel created a wellbeing network with 40 employees from around the globe who collaborate to find ways to support and promote associates’ health. An early initiative focused on sleep. “They did some great education around the importance of sleep hygiene and habits,” Davies said.

The company also offers a variety of employee development programs, with technical training underwriting, leadership and management curricula available at all levels. A virtual coaching program can help associates who are looking for new opportunities within Markel.

“We put a lot of importance on internal ability,” Davies said. “We want to retain great talent, even if people want to move (within the company).”

Beyond the workplace, Markel encourages employees to be active volunteers in the community. There’s a three-to-one financial match for employee contributions. But if an employee wants to donate time rather than money, the company will match time with dollars.

“You may have employees who are just not able to make a financial donation, but the company wants to support giving to those charities that are really important to them,” Davies noted. “It’s an inclusive (approach).”

In 2023, Markel introduced the Sam Markel Day of Service, an annual event designed to honor the company’s founder while elevating community service. This year, nine events were held in Richmond alone. “It’s great for giving back and also (fostering) a sense of community,” she said.

Davies says that when she interviewed for her position, nearly eight years ago, she was pleased to see how seriously the company takes its stated principles. “When we’ve got difficult decisions, we often sit down and look at (the Markel Style),” she said. “We are a values-based organization. That really does come through.”