Positive work culture and flexibility are key to attracting Gen Z employees to insurance agencies, according to the National Association of Professional Insurance Agents,
The study includes interviews with
Mike Skiados, CEO of PIA National and Vonda Copeland, vice president of operations at Copeland Insurance Agency and chair of PIA's Young Agents Committee, shared written responses with Digital Insurance.
What do flexible work arrangements at an insurance agency look like?
Copeland: The study showed flexibility can take many forms. Some agents told us that they were looking for flexibility in the types of deals they brought into the agency—that their managers would listen to their approaches.
In terms of work arrangements, it was clear that there was no one-size-fits-all approach. All those we interviewed said they were looking for some flexibility in their work arrangements. There were a few who were looking for remote work, and they actually sought jobs that would enable that. But others simply wanted the chance to work at home one day a week, or occasionally. Others appreciated the ability to adjust hours—come in early and leave early for specific events.
Skiados: For agency owners it's critical to listen to and understand the individual needs of their Gen Z workers. And they should also look for opportunities to build community when everyone is in the office. We found that Gen Zs are more likely to question why they're sitting at a desk if everyone is working in silos and no one is talking. But when there's strong leadership, collaboration, and teamwork, everyone sees the benefits of being together.
How does technology play a role in attracting and retaining Gen Z employees to the industry?
Skiados: We found that agencies don't have to have the latest and greatest, edgy-type solutions—but they do have to have technology that works, that helps the employees do their jobs easily and effectively. Laptops were mentioned quite a bit, as a means of enabling Gen Z's ability to work anywhere, if needed.
Copeland: As part of the report, we looked at video and collaboration tools that can enable connections between employees in multiple offices, as well as with customers. These types of tools are almost table stakes today—if any agency doesn't have them in place, they should be looking at them closely.
How can the insurance industry adapt the culture to appeal to younger talent?
Skiados: Culture is evolving in the right direction. Our report says that culture is the reason Gen Z stays at an agency, and it's the reason they leave. Our interviews found that to be accurate.
For every member of Gen Z that had a bad experience at one agency, the next one they joined was doing many things right. Leadership plays a big role. The Gen Zs we interviewed talked about their leaders and the ways they listened to them, coached them, and their willingness to give and get feedback.
Copeland: Ensuring that the job is more than a job is also critical. Purpose is really important to Gen Z. They told us they want to know they're making a bigger impact. We talked to one agency owner who every year talks with his employees about the total claims his agency pays out. He said it's really powerful for everyone to understand that the work they do genuinely helps people.
How can agencies foster an inclusive and diverse workplace?
Skiados: Agency owners talked to us about the importance of hiring a workforce that's representative of their customer base—ensuring that it's diverse. That's something many aspire to over time. In our report, we focused on the importance of having a mission, vision and values.
Values are particularly important because they set the tone for everything employees do. One way to help engage the team is to get them all involved in memorializing the values. And then making sure they are operationalized, by highlighting stories of employees who are demonstrating values in action.
How do agencies facilitate knowledge transfer?
Copeland: Training matters and agencies should be taking advantage of all the opportunities to involve their newer employees in certifications, carrier trainings, and professional organizations.
Winning@Work also highlighted an important phenomenon—mentors of the moment. We found that Gen Z isn't looking at mentorship in the traditional way it's been known. Instead, they're open to right place, right time mentors—people within and outside of the agency who can help with issues or problems in the moment. Anything that agencies can do to facilitate these relationships is a good thing
Anything else you would like to share or that you found interesting about the study?
Copeland: While culture and flexibility are really important to Gen Z employees, the opportunity to grow is also a top issue. That doesn't mean that every agency has to have an immediate career path for every Gen Z they hire. Some businesses are small or mid-sized, and those plans may not be completely developed. But they should be willing to have the growth talk with those employees. New employees want to hear about the possibilities.
Skiados: Agency owners can be creative. Our survey showed us that many are very open to unconventional organizational charts, that may include stretch assignments, different compensation plans, or unique titles.
