Does your organization have a positive public persona, or does your company’s image fall short? In today’s increasingly competitive labor market, having a strong, public brand is critical to attracting young professionals. In fact, 75 percent of job seekers consider a company’s brand before they even submit an application. Conversely, 72 percent of recruiting leaders view branding as a critical driver of their ability to attract and hire top talent.
We’ve heard it all—a slide to travel between floors, encouraging employees to use skates to move around the office and game rooms filled with arcade classics. Faced with an increasingly competitive labor market, businesses are going to extreme lengths to better attract and retain young talent.
Your company is only as strong as its employees. For insurance organizations in particular, engaging the next generation is critical to ensuring future success. Before organizations can effectively recruit and retain these individuals, they must truly understand what motivates and drives them. Despite speculation and numerous reports, today’s young professionals are not all that different from the generations of individuals preceding them. So what exactly do today’s young professionals really want in an employer? How can insurers effectively engage this next generation?
The insurance industry’s “war for talent” continues to heat up. No longer just a long-range concern, insurance organizations are now face-to-face with a perfect storm of labor market challenges—from an aging workforce and impending wave of retirements to an increasingly shallow talent pool. In fact, recent estimates show that the insurance industry will need to add 400,000 open positions to its bench by 2020 in order to remain fully staffed.
The true underdog of recruiting is recruitment process outsourcing (RPO)—a powerful tool that is under-utilized and overlooked despite the industry-wide talent crisis. Some organizations ignore RPO’s robust benefits due to a fear of the unknown or a perceived loss of control. Others are unnecessarily anxious that an RPO partner could fail to fully understand their needs or would be more expensive than keeping recruiting in-house.
The hiring process is a two-way interaction. Knowing and understanding how to best anticipate your candidates’ not-always-transparent thoughts can help give your organization the upper hand when securing the best talent. In order to create long-standing, genuine relationships with candidates, it is extremely important to put yourself in their shoes. Take a look at your hiring process through your candidates’ eyes. This will allow you to better address their concerns before they are brought up.