INSURANCE AGENT RECRUITING & RETENTION
HOW TO HIRE, TRAIN, & RETAIN TOP TALENT by Diane Wagner + Bryan Lake, MarshBerry
Amid a shifting job market, acquiring and retaining the best talent continues to be of the industry’ s top challenges. There ' s around 14 % turnover in most agencies. 1 The insurance workforce is aging. In the next few years, it’ s projected that 400,000 insurance professionals will retire. 2 And only 4 % of millennials are interested in working in insurance. 3 Agencies are also feeling the pressure to hire for tech and analytics skillsets.
Smaller agencies may face greater challenges than the larger brokers, simply because they may not have the resources for creating effective hiring & onboarding processes. And while smaller agencies may not feel the direct impact of the industry labor shortage, they could find themselves unprepared and unable to compete with those bigger agencies to attract the best talent.
However, big or small, any agency can compete for the best talent with the right strategic approach. Here are some talent strategies that any agency can use to accelerate growth.
4 KANSAS INSURANCE AGENT & BROKER