Focusing on the future
Insurance provides incredible career opportunities for Gen Z, but how do we help them see its value?
The start of a new year always brings opportunities and changes. We get to have a fresh perspective and tackle familiar projects in a new way.
You will notice some changes related to Claims Magazine as we begin to migrate more of our in-depth coverage from the magazine to our online portal at PropertyCasualty360.com. This also means that we’ll be changing our publishing schedule from nine to six issues this year – publishing double issues for January/February, March/April, May/June, July/August, September/October, and November/December. Some of our features will also have additional charts, graphs and other resources in the online versions of the articles. We’re trying to put more information at your fingertips and give you instantaneous access as you need it.
Hiring the next generation
Finding industry talent has taken on much more of a priority as a significant percentage of insurance professionals will be retiring in the next 10 to 15 years. The U.S. Bureau of Labor Statistics says that more than 25% of those currently working in the insurance industry are 55 or older. Hiring a more diverse workforce is vital. How carriers find their employees has changed, as have the prospective employees’ expectations of any job and employer.
The next generation of workers will come from Generation Z — those who were born between 1995 and 2015 — and comprise 25% of the U.S. population. This generation literally grew up with technology in their hands. They are more likely to check Google or YouTube for information than to ask someone in person; however, they do value honest face-to-face communication. These current and future employees are extremely tech-savvy, have the shortest attention spans of any recent generations, and face more stress than their predecessors.
The value of networking
They like structure, immediate and constant feedback, and expect their managers to provide clear expectations. Mentoring relationships in the workplace can be extremely beneficial to them and knowledge sharing definitely goes both ways these types of relationships. Attending industry events can provide them with education, an opportunity to network and a great way to learn from their peers.
The America’s Claims Executive Leadership Forum & Expo (ACE), which takes place in New Orleans from April 20-22, is the perfect type of insurance event for senior claims executives. It gives you the opportunity to hear how the insurance claims industry is changing, provides insights for hiring the next generation of insurance professionals and allows you the opportunity to network with your peers. Please plan to join me there!