October 31, 2022
How Insurance Organizations Enhance Job Offers to Recruit Experienced Professionals
by Amy Stuntz
While compensation remained the most important factor for U.S. job seekers in both 2021 and 2022 (according to Statista Research Department), I think you’ll find insurance organizations offer lots of creative things beyond salary to attract experienced professionals. If you’re considering a career change and wonder “Can I find a remote job?” or “How good is the PTO from one place to another?” then here are things we’ve seen from carriers and agencies to make an enticing job offer.
PTO in Smaller Increments
It can be difficult for large companies to change an entire PTO policy, however they will get creative with how they allow you to use your PTO. For example, offering vacation time in one-hour increments is a little detail most employees appreciate. If the company’s policy only requires you to use PTO when you are away from your computer/out of the office for more than two hours at a time, you would hate to use an entire day’s worth of PTO for a 3-hour appointment.
With a policy like this, you have the flexibility to leave work for little things here and there while reserving the bulk of your PTO days for real vacation time.
On that note, increasing vacation time with tenure is also a great benefit companies can offer to show how your benefits improve long-term. However, if you’re a new hire then you don’t have tenure. I doubt you want minimal PTO to start a new job when you’re used to 3, 4, or 5 weeks at your current company. Most of the time I’ve seen companies match your current PTO in an offer letter.
Avoiding Gaps in Benefits Coverage
Like PTO, companies are not easily able to change benefits enrollment terms. However, if there will be a gap in coverage, they can manipulate the start date in your favor- either earlier or later- to speed up the enrollment and eligibility dates.
Bonuses in All Their Awesome Forms
- Signing bonuses have become more common for any level of position. It’s no longer reserved just for executive hires. The extra money helps you bridge the gap between competing offers, counteroffers, or year-end bonuses you’ll leave on the table.
- 90-day new hire reviews and raises speeds up your earning potential. Rather than wait for the traditional annual bonus, companies are leaning into quarterly incentives to attract and retain top talent.
Flexible Work Arrangements
Flexibility of work schedules continues to be a hot topic. You should want a detailed offer outlining expectations for how much time will be spent working from home versus in the office. It eliminates ambiguity and alleviates doubts about future demands of needing to be in the office more.
Perks & Allowances Are the New "Soft Benefits"
Remember how soft benefits used to be “We offer snacks in the breakroom”? Times change. What employees want is different now than five years ago. Here are some examples of extra perks we saw in offer letters last year that stood out:
- Use of latest technologies included upgraded home office set ups
- Travel opportunities (client meetings, industry conferences, training)
- Reimbursement for continuing education or insurance designations
- ‘Dress For Your Day’ dress code (meaning yoga pants is definitely a possibility 😊)