When you think of the insurance industry, the words “cool” or “sexy” don't come to mind. And this perception has hindered many young, talented workers from seeing the value of insurance as a career path.
It's no longer enough to simply provide stable job opportunities; we have to find a way to make insurance relevant to a new breed of employees. The next generation of workers differs in regard to age, cultural backgrounds, skill sets and working styles. Studies have proven that millennials crave innovation, independence and flexibility, gravitating toward such companies as Google and Facebook that have builtempires around those principles.
The industry soon will lose a good chunk of its workforce. According to a survey from The Institutes, 50% of insurance workers are nearing retirement age while half of the total workforce will consist of millennials by the year 2020. Of this group, only 5% have interest in an insurance career and an overwhelming 44% think that working in the insurance industry sounds “boring.”
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