Between the changes brought about by COVID-19, increased employee expectations, generational shifts and more, attracting and retaining talent can be a challenge.
Many independent insurance agencies are adapting to accommodate these shifts. A report from Vertafore found that nearly 80% of agency owners and principals had made operational changes to help retain employees over the past two years.
Vertafore found that most insurance professionals would recommend a career in insurance. However, nearly half would consider leaving the industry for a job that offered perks such as better compensation, a better work-life balance and career advancement.
To retain current talent, insurance agencies need to make sure their agency is offering those benefits. And to attract new talent, they need to show off their workplace cultures and talk about the meaning and purpose behind the work.
It’s no longer enough to simply post a job description and look for someone who meets the qualifications. With low unemployment rates and plentiful job openings, job candidates are vetting companies just as much as they are being vetted. To draw in top talent, agencies need to show what they have to offer beyond compensation and job security.