Insurance has an image problem. It’s seen as stodgy, boring work. And only 2 percent of recent college grads express interest in working in an insurance company.
Accenture Strategy’s 2015 US College Graduate Employment Survey shows that new graduates are idealistic and want their work to improve people’s lives. While salary and benefits are key considerations for finding work, they also value interesting, challenging work.
Insurers have much to gain from attracting younger, hipper and technologically savvy workers. But they must overcome the industry’s image problem—not to mention compete for workers with sought-after STEM skills who may be attracted by job opportunities in more enticing industries.
Several programs are aiming to attract more college graduates to the insurance industry. For example, February 2016 will be the inaugural Insurance Careers Month, part of a cross-industry, multi-phased initiative aimed at raising awareness of career opportunities in risk management and insurance. Or consider Indiana’s Butler University, which is creating a student-run insurance company to provide hands-on experience and raise the profile of insurance careers.
Insurers must recast themselves as highly relevant, committed to delivering dynamic and innovative solutions that improve the lives of customers and rewards creative problem solving, flexibility and innovation.
Register to download The insurance workforce of the future: Why will so many insurers fail to achieve their digital potential? (PDF) to learn three things insurers can do now to adopt a more proactive approach to acquiring, developing and retaining talent.
For more information:
- Read The future of the insurance workforce, Part 1: Digital and talent disruption.
- Email me to discuss how Accenture can help you attract new insurance talent.