A key step in an agency's growth is hiring and retaining the best employees available. But where do you find them? How do you recruit the next generation into an industry that has a reputation for being staid and boring?
"Recruiting for the insurance industry, especially in a hot job market, requires more effort on our part," said Sarah Farmer, manager of recruiting for American Modern Insurance Group. "We work closely with colleges and universities that have insurance or risk management programs, for example, the University of Cincinnati, Xavier University and Western Kentucky University in Bowling Green, Ky., and we attend their career fairs," Farmer explains.
"Actuarial positions are the most difficult to fill," said Brittany Lynn, senior recruiter for American Modern. In October, she and Farmer attended a "meet the firms" night at Illinois State University, in Normal, Ill. The event focused on the actuarial science program at the university, which is a Center for Actuarial Excellence.
In November, American Modern held its second annual onsite career fair. They held the first one in 2014, and about 200 people attended. It was the company's opportunity to show candidates its campus and have them speak with managers to learn more about specific departments.
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Internships and training
American Modern has had an internship program for several years, and some interns have been hired into permanent jobs and stayed with the company. Farmer and Lynn see the internship program continually evolving. The 10-week program was formalized this summer and provided the interns with real tasks in several departments. For example, the intern in the human resources department actually recruited a candidate on her own who was hired by the company — giving the intern a great sense of accomplishment.
American Modern also puts entry-level candidates into a rotational program that helps them broaden their skill set, understand the various roles within the insurance industry and determine which role they fit best. Managers and employees alike are focused on training and development within the company, even before a new hire's first day.
(Photo: Thinkstock)
Other staffing, recruiting options
In addition, Farmer uses LinkedIn extensively to find passive candidates who might be a good fit. It's been her approach for the past year or so, and she has filled several positions with people who weren't actively looking to change jobs.
Farmer also uses temporary and contract employees as needed to staff up in a particular area, most recently in the company's financial institutions division. "We're always open to doing whatever it takes to find the right person with the right skills for the job," Lynn said.
"We have a strong diversity initiative here that was sponsored by our [former] CEO, Manny Rios," Farmer said. "We encourage managers to look for candidates who bring a diversity of thought, will ask questions, and may want to push the envelope a little." She agrees that the best candidate may be someone who hasn't worked in the insurance industry before but brings leadership or other skills.
Agency best practices in recruiting and retaining talent
"First and foremost is to make the candidate and new hire experience a positive one," Farmer said. "The first impression will stay with employees throughout their tenure at the company." Before a new hire reports for work at American Modern, the manager sends a hand-written welcome card with some information about what to expect during the first few days.
It's most important to Farmer and Lynn to help candidates and new employees understand that the insurance industry is about people first. "We have a strong social media presence," Lynn explained, "especially on Facebook and YouTube. Our videos — especially those by our employees explaining what they do every day — help applicants understand that insurance isn't boring. The videos show what sets us apart, why do we do what we do."
Especially for millennials, training and development are important. "We emphasize mobility, both up and across," Farmer said. "Managers talk about long-term development opportunities early on in an employee's career.
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