May 19, 2020
Diversity Hiring Is Top of Mind for Insurance Organizations: Inclusive Workforce Key to Recruiting Success After COVID-19
by Scot Dickerson
I recently celebrated my 24-year anniversary in insurance recruiting. I can definitely confirm the age old saying, “Time flies,” is true! So many changes in how recruiting works have occurred over those two decades. Yellow phone books, fax machines and paper resumes were all the rage when I started. That’s certainly not the case today.
Some constants have remained; in particular for this blog is diversity recruiting. The insurance industry has had its share of struggles developing diversity hiring plans. While that’s not new news, I anticipate this topic becoming a central theme for 2020 & 2021 hiring because of COVID-19. Sourcing experienced insurance talent will be more difficult. Candidates may be reluctant to change jobs in light of the ups and downs of the pandemic. They need to be convinced that they are joining a stable AND progressive organization.
Sourcing Insurance Talent
One way to attract top insurance talent is to share your plans on diversity hiring. Candidates gravitate towards companies that are inclusive and progressive. One way to retain top talent is to pull from an increasingly broader set of talents. One way we see insurance companies successfully accomplish this is through career pathing. They can hire a college graduate or a 10-year veteran with the same level of confidence in training, development and promotional opportunities.
Intentional Decision Making
Diversity hiring creates new challenges for hiring managers in ways their hiring may not have been focused previously. For them to embrace the initiative, they need to feel part of the plan. My partner Mary Newgard wrote about this in her February 2019 Ask the Insurance Recruiter column through Insurance Journal. In Three Female Agency Leaders On Opportunities In Insurance. three insurance agencies shared how they foster a culture of inclusion for women. A resounding theme among all three is that they give a voice to women in leadership roles…and those voices are heard.
Support from A Recruiting Partner
As you explore more diversity hiring, consider the support an external partner can provide. Though you will build the plan internally, executing the strategies are part and parcel for your third-party recruiters. In Capstone’s case, when we know and understand your Diversity & Inclusion strategies, we can then incorporate that into our recruiting and sourcing efforts. We can become a tool in your toolbox in helping drive your D&I implementation.
Additional Resources
- SHRM: SHRM Diversity & Inclusion Resources is a dedicated section of their website dedicated to D&I resources.
- Insurance Journal: Prioritizing Diversity and Inclusion in the Workplace is just one of several articles from 2019-2020 published by Insurance Journal which is a great resource specifically for agencies.
- Business Insurance: Diversity + Inclusion Institute has a bevy of resources, research, partners and other information available to insurance organizations about succession planning & diversity hiring.