One of the challenges facing insurers is attracting young talent as the industry faces up to a large portion of its workforce reaching retirement age over the next decade. At a recent conference, experts say insurers need to connect with young professionals and offer a more hands on approach to recruitment.
While traditional marketing techniques, such as billboard brand placement still help, companies should introduce young professionals to the inner workings of the company. As John McNeil, coordinator of the Insurance Management Program at Humber College, puts it, bring potential employees inside.
“When they walk downtown on the weekend, they see all of your signs on the buildings and they wonder what it looks like on the inside,” he said at the recent Canadian Independent Adjusters’ Association Claims Summit. “So your work environment is really important.”
Organizing an open day for potential recruits allows them to see how your company works behind the scenes. McNeil was talking on a panel with Natasha Reichen of TalentEgg and Trevor Buttram, manager of Career Connections at the Insurance Institute of Canada.
The panel also detailed what insurance companies can do to attract talented young people to the industry. One of the main factors is diversity, which does not just mean cultural.
“It’s also age diversity and understanding that different thoughts and perspectives and opinions and experiences on a team formulate some of the best teams,” Reichen said.
McNeil said diversity is vital, but many companies talk up how diverse they are but often fall behind in terms of their actions.