From The Boardroom

FROM THE BOARDROOM

LACEY ENDRES, CIC Vice President, PIA of Wisconsin

TALENT – HOW CAN WE BRING MORE PEOPLE INTO THE ...it is clear that one of the key factors in INSURANCE INDUSTRY AND everyone’s success story is the people KEEP THEM HERE? they work with. 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.

Learn about what motivates your 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, 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

• Another way to raise awareness among students is to offer internship opportunities at your agency. Internships can be paid or unpaid, and can be offered to high school and/ or college students. Internships allow students to learn about roles in the insurance industry – whether it is at an agency or at a carrier – and gives the employer a chance to vet the quality of the candidate in a safe environment. If the intern doesn’t perform well, there is no pressure to hire them. If they do perform well, you have the ability to hire them onto your team full-time.

• Another way to find talent is to get in on the ground level as young people are just beginning to think about career possibilities. One big focus for the PIAW and our education committee has been to identify a school in

Wisconsin where we could pilot the CISR course to high school students. The goal would be to introduce students to the insurance industry and have them go through the

CISR coursework provided by the National Alliance. The student would make the decision as to whether or not to take the exams and earn their CISR designation at the end of the curriculum. Because so many roles in the insurance industry do not require a college degree, these students could graduate from high school with a highly valued insurance designation and step right into a position at an insurance agency or carrier. We are just about to finalize our first high school pilot program in Wisconsin through a Madison-area suburban school district. I am thrilled at the potential new talent this could bring to our industry!

• If you know of a high school in your area that would be interested in offering this curriculum, please reach out and let me know. We would love to pilot this in multiple schools in Wisconsin.

During my time on the board of directors, I have had the opportunity to work with so many agency owners throughout Wisconsin, and it is clear that one of the key factors in everyone’s success story is the people they work with. I also know that the insurance industry offers so many opportunities for career-seekers. While these opportunities aren’t as widely publicized or talked about outside of our industry, I am determined to change that. I invite you to join me in making it happen!

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