BACK TO THE FUTURE Millennials and Gen Zs want more from life than previous generations may have – however, millennial broker Kate Martin and Allianz’s Pierre De Villiers agree that it doesn’t mean it’s all new. In fact, social commentators Claire Madden and Katie Iles reveal that due to the pandemic, some of their values are more in keeping with a post-war generation – Steph Wanless reports.
Account Executive at Marsh, and NIBA’s 2020 Young Professional Broker of the Year.
When working with a multitude of different generations every day, it’s important to understand how they operate: how they think, how they work, their motivators and, crucially, how best to work with them.
“We have a focus on maintaining, creating and curating brands – not just the brand of the company we might be employed by, but our personal brand too.”
The millennial generation, which attracted a few raised eyebrows when entering the workplace, is now a dominant sector of the global workforce. Born between January 1983 and December 1994, they account for more than 40 per cent of the workforce1 – and 70 per cent of them have or want to own their own business2. Following them are Gen Z – born between January 1995 and December 2002, and the first generation that in its entirety are digital natives1. While millennials and Gen Zs – like generations that came before them – have a different context, life experience, priorities and motivators, it’s important not to pigeonhole them as something they’re not. “Millennials and the younger generations coming through aren’t a completely foreign species,” says Kate Martin,
When it comes to connecting with younger generations as an insurance broker, it’s important to align yourself with social causes you care about – and demonstrate your commitment to helping make the world a better place.
“We are still driven by doing the very best job we can.” Due to the consistent presence of digital and hyperconnectivity, Martin says there’s a huge understanding of – and value placed on – brand.
THE IMPORTANCE OF CAUSE That sense of brand is driven in a major way by an alignment to social causes. “In years gone by, a broker would be able to add value by knowing all about the product and educating the customer,” says Pierre De Villiers, General Manager of Allianz’s People Centre of Expertise. “That’s still important, but for millennials and Gen Zs it’s more about what’s beyond the product. A brand saying ‘we’re the best quality’ or ‘we’re the best value for money’ isn’t going to cut it anymore. People buy into the story behind the brand and what it stands for, not just the product.” Katie Iles and her colleague Claire Madden researched Gen Zs for the book Hello Gen Z: Engaging the Generation of Post-Millennials, and found that cause and purpose are hugely important for that demographic. “This generation is strongly driven by altruism,” says Iles. “They want their life to mean something – they want to make a lasting contribution. That’s going to inform their choices. They want to feel as if they’re making a positive contribution every day.” CONNECTING WITH YOUNGER GENERATIONS When it comes to connecting with younger generations as an insurance broker, it’s important to align yourself with social causes you care about – and demonstrate your
1 https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/deloitte-2019-millennial-survey.pdf 2 Hays Australia. 2013, Hays Gen Y and the world of work
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