Recent surveys found the average insurance agent is just shy of 60 years old. That means two things: there are a lot of experienced agents out there, and there are a good number of agents reaching retirement age. As these agents retire, they’ll take their experience and wisdom with them. Don’t let that valuable asset leave when retiring agents do! While investing in insurance agent software, you should also invest in insurance agent talent.
As Millennials and Generation Z take over the workforce, get them into your agency before your experienced agents leave. Here are some tips on what to look for and how to attract young talent to keep your agency growing for years to come.
What to Look for in Agency Talent
The independent insurance industry is unique: it has a small business, community feel and relies on technology to navigate a complex system that affects people’s safety and livelihood. Such a multifaced industry requires unique people. When hiring for your agency, look for people who are:
- Flexible, meeting people where they are in their insurance needs
- Resilient enough to hear “no” multiple times before getting a “yes” on signing a policy
- People-driven as the drive to serve others is a major motivating factor in the business
- Great communicators whether listening to a customer during a crisis or working with their team to resolve an issue
- Tech-savvy enough to understand the latest in insurtech
Ultimately, you want someone who wants to help others and can handle the challenges and opportunities of a service-oriented industry. At the same time, you also want a team member willing to learn and grow in this evolving market.
How to Gain and Retain Talent
Insurance doesn’t have the apparent perks of flashy tech firms or start-ups, yet many elements appeal to Millennial and Gen Z job-seekers. It’s your job as an employer to highlight these assets:
- Technology: wide-spread tech use is important to the next generation. Highlight how you’re using technology and emphasize your focus on leveraging tech to improve communication and sales.
- Diversity: Mercer named one of the top 2021 global talent trends “an increasingly diverse…workforce.” Diversity in your office is important to new hires, so you should also start taking it seriously.
- Training: The best way to keep hires around is to prevent burnout. That starts at day one with training, equipping them to understand their role and your agency. The more prepared they feel, the better.
- Mentorship: Beyond training, new hires are more likely to stay if they feel supported. One of the best ways to show that support is through targeted mentorship – a dedicated person who walks them through new situations and provides advice on tackling new challenges.
- Culture: According to Cordia Resources, more than 1/3rd of Americans say they would “pass on the perfect job” if they didn’t fit with the culture. Culture is a crucial differentiator in independent insurance and something you can highlight in your agency as a significant asset.
Where to Get Support
One of the best places you can get support when hiring new employees is your management system provider. That’s right – your management system can help you onboard new employees with targeted training and make your agency a desirable employment option. That’s something we do a Partner Platform: we created an intuitive, customizable, efficient agency management suite backed by an oft-praised training and support staff.
And we work each day to improve our system and training to make it that much easier for your agency to grow. Notably, our Partner Platform Community offers a wealth of educational opportunities and chances to connect, mentor, and grow with other like-minded agents. Find out more about this innovative system: get in touch at [email protected] or 800.747.7005, Option 6, to request a demo today.