Help wanted: Hiring the next generation
Carriers should understand what new claims pros value in a job.
Finding talented workers isn’t just an issue in the insurance industry – the challenge crosses into just about every area of business, especially as much of the population gets closer to retirement age.
Related: How the insurance industry can attract and retain new talent
At the recent ACE conference in Austin, we tried to get into the minds of the next generation of claims professionals to provide our audience with critical insights on what matters to new hires. A panel of industry experts highlighted several factors and benefits that prospective employees consider before deciding to work for a company. Here are a few to consider:
- Be purposeful in providing career development options for new hires.
- Encourage existing employees to move within the company – this can include job-sharing or job rotations into other departments. Employers find this a positive way to energize their staffs.
- Create a fun workplace – celebrate accomplishments, birthdays, have bagel or pizza Fridays. Encourage your employees to spend time together.
- New graduates value companies that offer mentoring programs or the ability to experience different job responsibilities within a company.
- Spend time training employees to be good mentors. They can help new employees understand expectations and guidelines, and provide them with valuable advice. These mentors will also become your next leaders.
- Provide new employees with regular feedback – let them know what they’re doing well and how they can improve further.
- Some employers are changing their benefit packages to include unlimited vacation time (which seems to work for some companies), help with paying student loans or the opportunity to study passionate courses (education unrelated to work such as guitar lessons or a foreign language).
- Flex time can help employees better manage their work-life balance, which is important to younger workers.
Related: How to recruit millennials to the P&C insurance industry
As it becomes more difficult to find good employees, companies may be tempted to “settle” for someone who can be trained or grow into a job. This may be the case, but don’t change your company standards or beliefs to accommodate people who may not be a good fit.
Hiring employees who are strong communicators; have emotional intelligence, integrity and empathy; and are willing to work hard for you and your customers will be invaluable in the long-term.
Patricia L. Harman is Editor-in-Chief of Claims Magazine. Contact her at pharman@alm.com. Opinions expressed are the author’s.