6 ways to tackle the
By Danielle Ling, PropertyCasualty360.com
Millennials are now the majority of the U.S. workforce and are projected to comprise 50% of
the global workforce by 2020.
With 4 million baby boomers retiring
nationwide each year, the looming talent crisis facing the insurance industry
is a cause of concern for many organizations. With nearly 400,000 open positions projected by 2020 and less than
5% of millennials interested in working
in insurance, Insurance Careers Trifecta
says the industry needs to come together
to find a solution.
“Insurers are facing a growing war for
Revamp your internship program
talent, the focus needs to shift toward
recruiting and engaging the next gener-
ation of talent and bringing millennials
into insurance,” Greg Jacobson, co-CEO
for The Jacobson Group said in a state-
ment. “Insurers must join together and
re-brand insurance as the industry of
choice for young professionals.”
To help companies in this effort, Insur-
ance Careers Trifecta has compiled a list
of ways insurance professionals can en-
gage the next generation workforce.
Internship programs allow organizations
to find potential employees who can help
grow the business, and they are an excel-
lent way to introduce young professionals
to the industry. A quality internship pro-
gram will enable you to attract bright and
ambitious young people.
Insurance Careers Trifecta recommends using a program called MyPath.
MyPath is a collaborative industry initiative dedicated to educating students
and young professionals about the insurance industry and can help organizations
reach job seekers early and often.
Exhibit at a career fair
or local job fair
Appeal to current students and young
professionals when they are looking for
internships or entry-level positions in a
location that is convenient for all parties.
Career fairs are popular on college
campuses — they expose students to
potential opportunities, as well as em-
ployers that they may not have known
existed. At the same time, these job fairs
allow organizations to gain access to a
large pool of candidates in one place, and
they can help increase brand, and indus-