Millennials are now the majority of the U.S. workforce and areprojected to comprise 50% of the global workforce by 2020.

With 4 million baby boomers retiring nationwide each year, thelooming talent crisis facing the insurance industry is a cause ofconcern for many organizations. With nearly 400,000 open positionsprojected by 2020 and less than 5% of millennials interested inworking in insurance, Insurance Careers Trifecta says the industryneeds to come together to find a solution.

“Insurers are facing a growing war for talent, the focus needsto shift toward recruiting and engaging the next generation oftalent and bringing millennials into insurance,” Greg Jacobson,co-CEO for The Jacobson Group said in a statement. “Insurers mustjoin together and re-brand insurance as the industry of choice foryoung professionals.”

To help companies in this effort, Insurance Careers Trifecta hascompiled a list of ways insurance professionals can engage the nextgeneration workforce.

Revamp your internship program

Internship programs allow organizations to find potentialemployees who can help grow the business, and they are an excellentway to introduce young professionals to the industry. A qualityinternship program will enable you to attract bright and ambitiousyoung people.

Insurance Careers Trifecta recommends using a program calledMyPath. MyPath is a collaborative industry initiative dedicated toeducating students and young professionals about the insuranceindustry and can help organizations reach job seekers early andoften.

Exhibit at a career fair or local jobfair

Appeal to current students and young professionals when they arelooking for internships or entry-level positions in a location thatis convenient for all parties.

Career fairs are popular on college campuses — they exposestudents to potential opportunities, as well as employers that theymay not have known existed. At the same time, these job fairs alloworganizations to gain access to a large pool of candidates in oneplace, and they can help increase brand, and industry,awareness.

Inspire young professionals

Insurance Careers Trifecta suggests showing current studentswhat a day in the life of an insurance professional is like. Bygiving emerging talent a first-hand look at the everydayactivities, you can share what makes this industry a great one towork in.

• Volunteer in the classroom. Schools across thecountry have been inviting local professionals into the classroomfor decades to talk about their work and careers. Arrange to visita classroom to help students understand the relevance of theirclassroom work and gain exposure to industry jobs and careers.

• Allow students to job shadow. Job shadowsintroduce students to the realities of today's workplace and theskills they need to succeed, while providing employees with anenriching opportunity to share their knowledge and experience.

• Participate in career day at schools. Teachstudents about insurance and introduce them to careers in theindustry. By sharing your experience, you can help studentsunderstand insurance and provide insight on how a career ininsurance might be the right path for them.

Utilize technology

Appeal to young professionals with the technology they use everyday.

Launch a video challenge. Encourage your employees, especiallythe millennials, to create videos describing why insurance is agreat industry. Post the videos on your social media sites toattract viewers.

• Conduct a hack-a-thon. Get your employeestogether and host a competition encouraging them to come up withsolutions to the talent gap. You can even invite local collegestudents to attend.

• Hold a virtual meet and greet. Appeal to ayoung demographic by utilizing virtual technology. Encouragestudents and young professionals to get to know your company bySkyping in. Be active on Twitter and the other social sitesmillennials frequent.

Connect the dots for young professionals

There is more to the insurance industry than meets the eye. Theopportunities and benefits are truly limitless. Oftentimes though,students don't understand how their college focus can intersectwith the insurance industry.

Show young professionals that there are insurance careers forevery major with MyPath's brochure, “Uncovering Career Paths in theRisk Management and Insurance Industry.”

“Some of the ways insurers are innovating is by developing newsolutions to meet the demands of cybersecurity, green technology,the sharing economy and other emerging trends. To attractmillennials into our industry, we need to better tell our story andconnect on issues important to this generation.” June Holmes, COOand treasurer at PCI.

Audit communication channels

Before targeting young professionals, make sure your marketingmaterials will make an impression and update your social mediastrategy.

• Think of your audience. When creating marketingmaterials, think of what would appeal to your target audience. Makesure your images are diverse and depict other youngprofessionals.

• Keep up with the trends. Is your organizationkeeping up with the latest trends? Are you on Twitter, Facebook,Pinterest or Snapchat? It's vital to monitor the latest socialmedia outlets. Subscribe to publications and blogs that can helpyou stay informed.

• Ask your millennials. Not sure where to look tokeep up with the latest social media tools? Look in your ownoffice! Your organization's millennials can be a great resource andcan point you in the right direction.