What Agencies Need to Know About Recruiting the Next Generation

Recruiting the next generation of talent is not a new challenge but a difficult one. At the recent NetVu15 conference in Indianapolis, a workshop titled “Generation XYZ in the Workplace” drew a large crowd, many of whom were agency principals seeking answers on how to attract and retain young employees.

Insurance Journal spoke with three of the panelists after the workshop including Marc McNulty of The Uhl Agency, Dayton, Ohio, and the chapter’s new chairman; Lynn Harper of the SilverStone Group, Omaha, Neb.; and Kate Foy of Foy Insurance, Exeter, N.H.

Each had a different story as to what brought them into the insurance industry. Foy started working in the family insurance agency as a teenager. Harper’s college roommate suggested the industry as a possible career track. McNulty said he “stumbled” into the insurance business when a friend told him of a job opening at the agency after he decided to leave his previous job in another industry.

Harper said the experience has been “better than I expected. I discovered the business is all about serving clients. We take a consultative approach and do not push policies. We want to be a trusted advisor.”

Foy knew the business from the beginning but McNulty, who has been with The Uhl Agency for 13 years, was unsure what to expect but found a home quickly.

“I was lucky to have a very forward-thinking management,” he said.

Attracting young employees into the insurance industry takes more than luck.

“Agencies need to work more with the colleges in their area,” said McNulty. “Summer work and internships offer students valuable work experience and a chance to discover, as we all did, that the industry offers a great future.”

McNulty says it’s also critical that agencies develop clearly-defined career paths. “Young employees want to take on responsibilities quickly, which is usually unrealistic. They need to see, however, how they can advance and build a career.”

Recruiting young agents is not difficult when management instills the right agency culture, says Harper. “We have developed clear career paths, education tracks, and offer the ability to work from home,” Harper says. “We have a number of committees to give employees a role in the operation, including ones covering wellness and fun. We actively encourage all of our employees to serve on a committee and to be part of the culture.”

McNulty says his agency doesn’t worry about prior insurance experience when hiring.

“We can give them the insurance training,” he said. “What we’re looking for is the right personality.”

These young agents agree that technology is another key to attracting young employees. Millenials rely on smartphones and social media in both business and professional life and are less likely to work in industries that do not embrace technology.

Foy and McNulty said their agencies have always supported technology. Harper said she actively pushed for a technology upgrade.

“Our challenge is to show owners that technology allows agencies to do more with less. To do that we need to cite success stories and a clear game plan.