Depending on your perspective, 2018 can be either scary or exciting for the insurance industry.
On one hand, a quarter of today's agents will retire by 2018, according to a recent report from management consulting firm McKinsey & Co.
On the other, the college class of 2018 will begin its freshman year and four years later, approximately 1.8 million of the most educated, diverse group of graduates in history will enter the workforce.
Attract this talent by offering internship opportunities. Jobs that were once considered entry level for the recent graduate now require prior experience plus a degree. This has created high demand for student jobs that can help candidates make connections and establish skill sets in specific industries.
Introduce young people to insurance and provide the knowledge necessary to hit the ground running after graduation. Internships offer a low-risk testing ground for new hires and give agencies a leg up in recruiting the best each graduating class has to offer.
Three years ago, the industry tapped The Institutes to lead a collaborative initiative to attract millennials to the opportunities in insurance and provide them with the resources and insights needed to build a successful career. This initiative is called MyPath, a name that struck a chord with young people who increasingly want to choose direction in their lives.
The effort has evolved and now offers students resources and tools, including internships supplied by the growing list of MyPath partners. In fact, one of the keys to MyPath's web platform, InsureMyPath.org, will be a steady stream of internships made available by partners. With access to the countless students visiting the site, partners from global organizations to community-based agencies can tap into a talent pool that's actively searching for rewarding experiences in the professional world. No matter how large the organization, MyPath provides a platform to connect with the insurance professionals of tomorrow.
The year 2018 isn't that far away, making now the ideal time to reach out to the next generation and ensure the health of the industry for years to come.
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