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4 keys to retaining a multigenerational workforce

Each generation has different needs and motivations

By Deanna Bretado | Updated on August 01, 2016

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.

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