How much are we really like our parents? I never saw myselflooking at the younger generations and shaking my head in disbeliefas my parents did. I'm sure we have all seen our elders shake theirheads at us, saying “kids these days.” Or how about phrases such as“you don't know what it means to put in a hard day's work.” Ifyou're a part of Generation X like me, you have heard similarthings before.

Read November's Getting Personal column, “Low loss ratios are noaccident.”

But now that buck is slowly being passed, as the baby boomersgradually hand over the reins to Generation X. However, if you'relike me, you are starting to find yourself in the similar position,wondering just how to deal with the younger generation. And itseems as if the generation gap has only gotten bigger.

When you're in the business of personal lines insurance, youhave to work with all the generations and know how to keep them assatisfied customers. The Silent Generation, Baby Boomers,Generation X are currently our primary customer base. Each agegroup has different needs and preferences of how they want toconduct business, and it is our job to stay on top of all theirneeds. But we are used to handling this customer base at this pointand things are starting to change.

The incoming Generation Y is starting to present a whole new setof challenges in the insurance industry, not only as customers butas employees. To move into the future, independent agents mustrapidly update our ways of doing business and adjust our policiesto accommodate a new generation of customers and employees. Timesare changing quickly and if we don't change just as quickly, wewill be left behind.

As we move forward, we also will bring younger employees intothe work force. This is where I have found myself sounding justlike my parents, the baby boomers. Phrases such as “kids these daysjust don't know what it means to work hard” come to mind quiteoften. However, it is beginning to occur to me that it is not amatter of how hard Gen Ys work, but how they work and what they areworking for.

It is very common in older generations for work to be anintegral part of who they are, with work being a primary focus intheir lives. They are more likely to roll with the status quo, andmajor changes do not come easily and are not always welcome. AsGeneration Y moves into the workforce, we are taking on employeeswho have been constantly surrounded by activity and rapidlychanging technology. Change is very important to them, and theywant to make an impact on the companies they work for. They want tobe interactive with management and have a voice in how things aredone.

Read blogs from ourGen Y writers!

Up until now we have gotten used to a different kind of worker.Our older or long-time employees will do what they feel isnecessary to get things done, even if it means coming in early orstaying late. Younger workers commonly arrive at 9 and leave at 5,with very few exceptions. Generation Y does not live to work, theywork to live. Balance between their jobs and their personal livesis of the utmost importance, and understanding this is imperativefor us as employers if we are to move forward with them.

However, just because they work differently does not mean theydon't work hard. Generation Y is very adept at multi-tasking. Theylook to get things done quickly, efficiently and move on to thenext task. They will have a great deal to say about how processescan be streamlined and improved and we will all be smart to listento them. Keeping them satisfied in their jobs will mean embracingchange, and change is hard to come by in personal insurance. But ifwe don't change now with this group, we will find ourselves lostbefore we know it.

ReadJeffrey Wyrsch's previous article, “Take care of clients.”

So how can we keep this youthful generation happy and continueto grow as agencies? We have to start by listening to them. I willnot suggest that we do everything they might recommend, but theirpoint of view is also the point of view of your new and futurecustomers. We should listen to their input, and they will haveplenty. Be open to change, reward them for their accomplishments.Straight salaries will not be enough to keep them happy; offerdifferent results-based compensation because they want to see atangible value to their accomplishments. Praise and recognitionwill become more important than ever.

Many of our carriers can help keep things interesting for ouryoung employees. For example, MetLife Auto & Home is currentlyfinishing up a 2-month incentive program for writing new business.For every policy bound over an initial goal, MetLife awardsagencies gift checks, which can be passed on to the employees whohave achieved this. Selective Insurance and Travelers have heldsimilar promotions this year for both new business and accountrounding. Regular programs such as this will go a long way withGeneration Y, giving them a goal to shoot for with clear rewardsfor their accomplishments.

The agency itself can develop similar incentive programs to keepeveryone interested, along with helping to increase business.Rewards do not always have to be monetary–giving additional timeoff based on performance will go over just as well with the youngergeneration, maybe even more so. Trying new things will keep yourGeneration Y employees satisfied, and they will be more likely tostay in your agency for a longer period of time.

Generation Y customers offer just as big a challenge as theyoung employees. More than ever, these customers want things to befast, easy and accessible. If it's not on the Internet, it's almostincomprehensible for them. We have to keep on top of everytechnology available to us as we move forward or it will beincreasingly difficult to grow in personal lines. With so manydirect companies working online, allowing people to quotethemselves and buy their own insurance in 15 minutes, we alreadyare falling behind. Today's youth are bombarded with advertisingfrom these companies. Independent agents need to find new ways tobring in these younger customers to combat this.

We need to continually push ourselves, our carriers and ourmanagement system vendors to keep up with new technology. Withcomparative raters now offering real-time quotes and getting moreand more advanced, the opportunities are growing. We can quotefaster with multiple companies, and even offer onlinedo-it-yourself quoting to help keep up with Generation Y. There arelimited capabilities from many of our carriers and managementsystems for our customers to look up their information online, butthis still needs to be improved and expanded. However, we need tomake sure we are aware of and using these technologies to theirfullest extent to move forward.

The latest tools are cell phone apps and social media. Someinsurance companies already have cell phone apps available fortheir customers, so it's time we agents start looking into it.Using social media such as Facebook and Twitter to get in front ofnew, younger customers is a great way to combat the advertisingblitz of the direct writers. It may not seem important right now,but it will only get bigger as we try to grow with the upcomingyouth.

Generation Y is here, whether we are ready or not. To keep ouragencies growing in the future, we have to learn to adjust ourthinking and quickly. It's all about change, speed, efficiency andtechnology. We need Gen Y as customers to keep growing, and asemployees to help us keep up with the changes. Kids thesedays–little do they know they will be saying the same thing whenGeneration Z takes them by storm!

Read November's Getting Personal column, “Low loss ratios are noaccident.”

ReadJeffrey Wyrsch's previous article, “Take care of clients.”

Read blogs from ourGen Y writers!