How one insurer is winning in its battle for talent
Convex Insurance's new initiative is targeting a widely untapped talent pool of experienced professionals.
The insurance industry has come a long way in breaking away from the stigma that the industry is “old and boring” and is instead an exciting industry full of career options. But despite growing interest from professionals to pursue insurance and risk management careers, the industry continues to struggle to fill open job positions when competing with more “attractive” industries, such as technology and entertainment.
However, one insurer recently started a new initiative to overcome recruitment challenges and “win” in their battle for talent by accessing a widely untapped pool of individuals. The Returner Programme at London-based Convex Insurance targets experienced talent prospects who have stepped back from their careers for an extended period of time and are now interested in returning to the workforce. Oftentimes, these are former stay-at-home parents or other individuals who, for their own reasons, took a break from their previous professions and now want to get back into the game.
The six-month returnship format provides participants with flexible work options and workplace support with the intention of a permanent role at the end.
PropertyCasualty360.com spoke with Claire Ball, group HR director at Convex, to understand more about the Returner Programme and what other insurance companies can learn from its success.
PC360: What sparked the idea to create the Returner Programme?
Ball: From the very beginning, culture has been a central focus for Convex, and we have worked diligently to build and foster an inclusive workplace made up of a diverse group of experienced and insightful talent. We have consistently explored how we can benefit from hiring from various talent pools, and one untapped area we identified very early on was returners — professionals who have taken a career break of two or more years, having previously had a successful experience in and outside our industry.
In our view, professional and personal development never stops, and during this career break, many returners would have most likely encountered new experiences, building upon their expertise and viewpoints. This programme has given Convex access to alternative perspectives and seasoned expertise. Their contribution can be felt throughout the company, not least of which by Convex’s younger members in the early stages of their careers.
We have recently partnered with an organization called Women Returners, which works with companies like Convex to enable more women to return to the workplace.
PC360: What has the response from the job market been thus far?
Ball: There has been a positive response and a clear interest in what Convex is doing. Since the launch of the programme, other companies from across the industry have been in touch — and this is a really encouraging development. This is an area where our industry can make much-needed strides and challenge traditional recruitment practices and encourage diversity.
PC360: How is this programme different from a standard full-time or part-time position?
Ball: We knew we couldn’t approach this programme with traditional tactics, and we assessed where we could adjust and adapt, from the job posting all the way through to becoming an employee. For example, we looked at the way we interview. Our managers have undergone training, ensuring they are equipped to interview returners, knowing how to get the most out of a conversation, ask the right questions and put interviewees at ease.
We welcomed our first four returners at the end of February 2021, and in no time, they have become valuable assets to Convex. However, the programme doesn’t end at recruitment. We recognize the importance of continued support as the returners reintegrate into the corporate world. Each returner is paired with a buddy and is assigned a coach to make sure there is assistance every step of the way.
This structure ensures as much as possible that the return-to-work process is a successful and smooth transition, and so far, we have received outstanding feedback from those we have hired as well as those who did not make it through.
PC360: What are your hopes for the programme and its participants?
Ball: This programme and its participants have been incredibly beneficial to Convex and our colleagues. This is a great opportunity to expand our horizons in terms of talent and expertise, and we encourage the rest of the market to look into creating similar programmes. Positive change doesn’t come from complacency, and as an industry, we must be prepared to challenge the way we hire.
Convex has always wanted to do things differently, and the way we hire always was and will continue to be a priority.
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