Last week, I talked about three ways that insurers can address the talent shortage in insurance.

More ways to address the talent shortage

  • Experiment with new operating models that provide employees with a more rewarding, balanced work experience. Collaboration technology can remove physical boundaries between teams. More efficient claims processing approaches can free up adjusters to deal with more complex claims, increasing job interest and satisfaction.
  • Look ahead, not back. Talent management programs typically focus on past performance, rather than looking at programs that can drive better workforce performance in the future.

Next steps

Things are looking up. Programs that were cancelled in the wake of the economic crisis are being revived, notably mentoring programs. It’s important to note that, despite the focus on millennials, that the existing insurance workforce has a tremendous amount of knowledge and experience to share. Communicating effectively with all employees is critical to effective talent management.

In addressing the growing gap between older and younger workers, insurers can leverage relationships between the two groups. Older workers are a critical part of knowledge transfer, and younger workers’ technology adoption tends to be ahead of the corporate curve. Both groups have much to share, with each other and with the company.

Learn more in “The Millennial Invasion,” published in Claims Magazine.

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