With many experts predicting that the insurance industry will soon face a significant talent shortage as thousands of baby boomers retire over the next few years, finding ways to solidify their current workforces while creating opportunities for long-term success has become an increasingly important issue for many firms. As the demographics of the industry change, so do the expectations of the workforce. What is important to older, more experienced employees like Generation X, isn't necessarily what's important to younger millennial employees.

With so much diversity in the workforce, figuring out how to create a work environment that appeals to all groups becomes a difficult balancing act. Some companies remain too firmly entrenched in maintaining the status quo to keep their more experienced employees happy. This makes them appear staid and old-fashioned to younger employees.

Others lean too far in the direction of creating offices that appeal to millennials, alienating the more established industry professionals. The key is to recognize the value of both groups and then identify ways to appeal to them without favoring one over the other.