2016 E&S Loss Control Executive Forum

Working Together to Attract Top Talent

Goals Share the current challenge facing the risk management and insurance industry, and how MyPath was created to address this Show what our team at The Institutes has discovered about the millennials demographic How you can attract and retain the next generation of industry leaders to insurance careers at your company Questions

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2016 E&S Loss Control Executive Forum

The Insurance Industry’s Challenge The risk management and insurance industry is facing an impending workforce shortage. The U.S. insurance industry needs to fill 70,000 positions per year, but only 14,000 students are pursuing risk and insurance degrees. The Institutes and our affiliates were selected to lead a collaborative, industry-wide effort to educate and excite millennials.

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The Millennial Demographic

Sources: CEB, Iconoculture Consumer Insights, “Inside the Millennial Mind: The Marketer’s Handbook,” 2014, http://img.en25.com/Web/CEB/3.14.14%20CEB_ebook_final.pdf. Business and Professional Women’s Foundation, “Gen Y Women in the Workplace,” 2011, http://bpwfoundation.org/documents/uploads/YC_SummaryReport_Final.pdf.

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Millennial Demographic Characteristics

Sources: The Griffith Insurance Education Foundation, “Millennial Generation Attitudes About Work and The Insurance Industry” (Malvern, Pa.: The Griffith Foundation, 2012).

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Millennial Demographic Characteristics

Sources: CEB, Iconoculture Consumer Insights, “Inside the Millennial Mind: The Marketer’s Handbook.” Pew Research, “Millennials in Adulthood,” March 7, 2014, www.pewsocialtrends.org/2014/03/07/millennials-in-adulthood/.

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2016 E&S Loss Control Executive Forum

Millennial Demographic Characteristics

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MyPath, the Collaborative Industry Solution

We began collaborating with industry partners to aggregate and amplify industry efforts by developing the industry-wide educational platform branded as “MyPath: Insurance. It’s limitless.” MyPath acts as a clearinghouse of information through which the industry can provide a unified message to the millennial audience.

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Homepage:

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Millennial Resources: Career Assessments and Tools

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Millennial Resources: Videos

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Industry Resources and Tools

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Resources: Blog

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Internships:

Scholarship and Financial Assistance:

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Industry Partners:

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February 2016

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2016 E&S Loss Control Executive Forum

Results • With over 600 companies and 900 industry professionals involved, our first Insurance Careers Month proved to be a success! – 3x our goal of 200 participants

Engagement Highlights • Saw significant social media engagement throughout the month – #CareerTrifecta was used over 3,000 times

www.InsuranceCareersMonth.org

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2016 E&S Loss Control Executive Forum

Refine Your Internship Program Make sure your internships are:

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Boost College Recruitment Efforts Ensure that:

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2016 E&S Loss Control Executive Forum

Leverage Social Media Connect on phones, tablets, computers, and smart devices.

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Enhance Your Website Millennials prefer visual, concise, and engaging platforms. Highlight job postings and specific details Highlight organizational benefits

Source: Accenture, “The Digital Insurer: Accenture 2013 Consumer-Driven Innovation Survey,” 2014, www.accenture.com/microsite/consumerdriveninnovation/Documents/pdf/ Consumer-Driven-Innovation-Insurance-Survey-2013.pdf.

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Examine Your Workplace and Culture

Determine how your current employees value the company and common complaints to help improve and better target recruiting efforts.

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Provide Professional Development Opportunities Millennials are looking for a career where they can:

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2016 E&S Loss Control Executive Forum

Retaining Millennials in the Workplace Once we capture the attention and interest of millennials, it’s important to retain them as employees in the workplace.

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Retaining Millennials in the Workplace Millennials are looking for jobs and companies that:

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2016 E&S Loss Control Executive Forum

Get Involved With MyPath Be an advocate by talking with industry colleagues about the initiative Work with your organization to create a partner profile Add your organization’s internships and scholarships Provide insight and access to your organization’s relevant content Submit a guest blog

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Get Involved With MyPath

Visit: www.InsureMyPath.org Email: [email protected]

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Questions?

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