A new generation of independent agents calls for new hiring tactics

Of those surveyed, growth-focused agencies are more likely to focus on diversity in hiring (51%) than slow-and-steady agencies (33%), and are also almost twice as likely to hire remote employees. (Credit:Travis Wolfe/Shutterstock.com)

The workforce is shifting toward younger generations, with 50% of the current insurance workforce set to retire in the next 15 years, which will leave 400,000 open positions, according to the Bureau of Labor Statistics. Upcoming leaders, Millennials and Gen Z workers, are poised to take over for their older professional counterparts, but workplace changes over the last few years combined with shifting worker expectations means agencies may have to change their tactics in order to attract this new generation of talent.

Liberty Mutual and Safeco recently surveyed over 730 agents for their 2022 Agency Growth Survey, which delved into agencies’ strategies for growth, including their hiring and recruiting practices. Seventy-five percent of agencies are currently recruiting, according to the survey, with the top recruiting methods including referrals and networking (80%), advertising online (42%), social media posting (39%) and hiring interns or college placements (20%). These recruiting numbers are up from their 2017 independent agent survey, when 65% of agencies said they were recruiting.