Every day in the U.S. an estimated ten thousand baby boomers will retire. That means that every day, existing workforces are getting smaller without recruiting and retaining younger generations. In the insurance industry, veteran agents are seeking retirement and leaving a talent gap open for their agencies.
The millennial generation makes up the bulk of today’s available workforce. With Gen Z close behind, agencies need to consider new tactics in recruiting next-gen populations to add to their existing talent pool.
Millennials are three times more likely to leave their current jobs within the year than any other generation, so keeping talent is important. To do so, agencies need to adapt with strategies that meet the needs and concerns of younger generations .
Millennials and Gen X are more concerned with company culture than any generation before them. They not only want to work for a company that supports them in their career, but also for an employer that supports a positive work environment.
Spending time on developing a positive work culture is beneficial when recruiting new talent. This means having a set of core values and a mission statement that your new recruits feel like they can get behind.
Millennials believe that a key element of job satisfaction is working with people in their communities. To that end, corporate citizenship is an excellent way to display your agency’s ability to have a positive impact on your community. Creating volunteer opportunities for your employees is another good strategy to recruit and retain new team members.
Your agency should consider outlining environmental responsibilities — like reducing your carbon footprint or encouraging carpooling. Actions like these will show your existing agents and potential recruits that your priorities extend beyond the needs of your business.
When growing your workforce, it is important to offer benefits that appeal to your desired demographic. Providing benefits to your employees will help you retain talent and demonstrate that your agency is willing to be progressive. Fitness goal incentives and paid-for gym memberships are two examples of ways to illustrate that the health of your agents is important to your agency.
Symmetry’s Protect the Protector program benefits agents by offering them exclusive deals on health insurance. Agents choose a doctor in the network after one easy enrollment process. Through the program, agents with Symmetry can also qualify for life insurance with the first year of premiums covered.
Another benefit that will improve productivity for your agency is the opportunity for remote work. The ability to work from home is a popular option to offer new agents. In doing so, you are illustrating the importance of a work-life balance for your team members. Next-gen recruits will be drawn to the ability to structure their work environment around their home life, which has been shown to boost productivity.
Millennials have grown up with technology. At this point, they rely on it to help drive their work and the choices they make in choosing an employer. With that in mind, it makes sense to develop a training system that is focused on technology. Not only is it important to include technology in training, but it is also a good idea to provide employees with innovative and proprietary technology to improve their business day-to-day.
Symmetry’s Owner’s Circle offerings and tools like the Virtual Assistant allow agents to build their business and manage their time most effectively. The Owner’s Circle offering includes a customized website with a personalized domain. It makes assigning email addresses for you and your staff easy and quick.
Virtual Assistant gives Agency Owners at Symmetry the ability to allocate leads directly to their agents while viewing everything from lead history to conference registration. This kind of technology makes recruiting easy while showing any prospective agents how they will be supported through Symmetry’s tech offerings.
There is also a fast-growing list of already available apps your agents can use to optimize their workflow. Apps like Calendly, which will allow them to schedule appointments and meetings with clients and co-workers, or TodayApp which makes tracking production seamless, are great tools to incorporate into your team.
By being tech-forward in your training efforts, you are sure to attract next-gen recruits to your workforce.
A key component to securing the talent you are looking for is to recruit in the right places. Traditional recruiting efforts might not be the best route for Millennial recruits. Instead, you will want to consider the platforms where your outreach will find your desired candidates. Being intentional in this way will increase your ability to appeal to new generations of recruits.
While traditional outlets, like recruiting sites Indeed or ZipRecruiter, are great for finding new agents, appealing to next-gen populations involves being creative with your outreach. Agencies might consider visiting local universities to recruit directly to their desired age group.
Social media is another great way to make your presence known. Not only does being active on social media websites like LinkedIn increase your reach for connecting with potential agents, but it also shows them that your agency is staying relevant in the current marketing environment.
As a Symmetry agent, you will have access to high-quality life insurance, disability income insurance, critical illness insurance, and annuity products from more than 30 well-known insurance carriers. This gives you the flexibility and reach you need to truly meet clients' individual coverage needs.
To learn more about how to begin a fulfilling career as a life insurance agent, contact us today .