FROM THE BOARDROOM
...it is clear that one of the key factors in everyone’s success story is the people they work with.
LACEY ENDRES, CIC Vice President, PIA of Wisconsin
TALENT – HOW CAN WE BRING MORE PEOPLE INTO THE INSURANCE INDUSTRY AND KEEP THEM HERE? One of the biggest challenges we face – regardless of agency size – is finding, onboarding, and retaining talented people. We have heard the phrase “war for talent” quite a bit over the past several years. Employers have been forced to adjust expectations around when and where people work, and how much they are willing to pay them. As leaders of insurance agencies, here are a few things we can do to win the war for talent: Talk about career growth and development opportunities at your agency • When you are looking to hire someone, it is important to identify what the individual’s long- term goals are and whether you will be able to help them accomplish these goals. Are they looking at the current opportunity as a way to get a foot in the door with the idea they will be able to move up or on quickly? Are they looking to come into the current opportunity and stay there for the foreseeable future? Knowing what each person is looking for and being able to talk about those opportunities helps people see beyond the “now” and ideally picture themselves at your agency in the future. earn about what motivates your L employees • Everybody has something that drives them, something that motivates them, something specific that keeps them at their current employer. Some people want praise – public or private, some people want growth opportunity, some people want autonomy in their role, NOVEMBER/DECEMBER 2022 [ 8 ]
and some people want to see financial growth via increased compensation. Being aware of what drives each of your employees is key to retaining them. • Talking about these details or asking for this information can be awkward or uncomfortable, but it’s so important that your employees know that you care and want to know how to show them that you value them. Opening the door to these conversations can help create awareness and a safe space for people to talk about what matters most to them. In the worst-case scenario, your employee goes somewhere else that offers what they value most, but they never felt comfortable talking with you about it before they made their decision. Expand where you look for talent • When I ask my colleagues how they ended up at M3 or in the insurance industry, most respond by saying that they just sort of “fell” into it (myself included!). Not many people go to school with a focus on working in the insurance industry one day. We have a huge opportunity to do a better job of educating students early on about the career opportunities in insurance. • One way to educate students is by partnering with colleges and universities and attending their career fairs. Having a presence at these types of events, or even posting opportunities to job boards at schools or other local organizations like rotary clubs, local Continued to next page
