As with so many other industries, the insurance industry is evolving. With retiring Baby Boomers, millennials are positioned to overtake the majority in the workforce, but few show interest in the industry. This could be a serious challenge as jobs are needing to be filled. Recruiting top talent for the insurance industry has always been difficult, but with the perception that many millennials have of the industry, recruiting has been quite an obstacle. Insurance companies must appeal to this demographic to attract and retain them as employees.
What to Consider When Hiring Younger Talent
Hiring a younger generation will require enacting new recruiting methods. Millennials think differently about work than the baby boomers did, so employers must take those ideas and perspectives into consideration when recruiting younger talent.
For millennials, it’s all about purpose, as they seem to be pretty intentional about leaving a legacy. They need to see that the industry can serve a bigger purpose beyond profits.
Those in the industry should use social media to share work they do around the world, to help people see beyond the daily work of insurance companies. Your clients should emphasize how they’re making an effort to make the world a better place.
Strong Employer Brand
Millennials have been named consumers of the workforce because they’re continuously “shopping” for a better job. To attract and retain the best talent, a strong employment brand is crucial.
No business is immune to the pressure of appealing to a younger workforce, as employees are needed to tell the story of what the industry represents. Just about everyone should consider refreshing their employer brands with a new generation in mind.
Most millennials prioritize diversity and inclusion when actively searching for potential employers. They expect the professional world to address diversity from a variety of perspectives, including educational background, age, gender, disability, ethnicity, social status, sexual identity, and religion. This is a great attitude to push as they seek to boost performance. It’s beneficial to demonstrate a commitment to diversity in the workplace and in recruitment efforts.
Flexible Work Environment
The standard 9-to-5 job is leaving the picture, especially for those recruiting millennials. Young employees stand for work-life balance that isn’t regulated by hourly work schedules. They believe businesses should have a flexible work environment that doesn’t mandate a rigid structure. Millennials seek employers with correlating values. Telecommuting opportunities are a great way to foster flexibility.
Millennials want to work for those embracing technology, as they feel that technological advances help to streamline tasks and allows them to focus on the most important parts of their jobs.
A company should now have social media, video conferencing and instant messaging to encourage productivity. Those in the insurance industry who aren’t implementing such digital tools will struggle to appeal to younger job candidates.
The younger crowd wants to see their path forward through a career. They want to be very clear on what they need to do to get to where they want to be and to see superiors invested in employee growth.
The job description is the first look at the potential roadmap before applying for a position. Offering professional development opportunities is a great way to help attract these fresh thinkers and revolutionize the industry.
Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (855) 912-8697 to speak with one of our representatives.