Recruiting for the future: How to create a top insurance agency
Attracting high-producing agents and detail-minded customer service reps to insurance agencies can be a struggle. We’ve all read the articles that say Millennials aren’t choosing the insurance industry. They’re attracted to the more glamorous industries and companies like entertainment, software, Google, Zappos and so forth. If that means we’re all fishing from a smaller pool, it also means that often you’re trying to entice people to leave their current job and come to your agency.
Those folks are called passive candidates – while they’re not really job hunting, they ARE open to making a change. What’s going to attract them to you? Unfortunately, it usually means a higher salary and better benefits. But not always. Read on to discover ways you can make your agency a great place to work for, while attracting top candidates (and keeping them!).
What’s your reputation, and does it need improving?
Even a small agency can have a big online presence. How? With your website, obviously – making sure it’s up-to-date and adding fresh content. By contributing to insurance forums and starting new conversations. And particularly by having a consistently attractive social media presence. Even if you only post weekly, make your content light-hearted, positive and educational. Post photos of your holiday party, of you delivering a pizza to new homeowner client on moving day, or bagels to the HR office of your biggest client. You’re delivering a taste of your company culture to everyone who views your posts, whether they’re a client, an employee or a potential for either.
Since your time is limited, incentivize your team to send you great articles, photos, customer service stories, etc. that you can post. They understand how important it is to always have your best foot forward – so enlist them to help as well.
Related: Five Business Goals to Grow Your Insurance Agency
Consider aligning your agency with a charity: if you primarily sell personal lines, Habitat for Humanity may be a good choice. Any local charity (that you’ve vetted) is also a good option. As you take part, be sure to post those photos. Why is this important? Giving back to the community is a key consideration when choosing a future employer for many Millennials. It brings teams together as they work for a common cause. And it’s just a humanitarian thing to do.
How to be a great insurance agency when you’re hiring
With the aid of social media and Glassdoor.com, candidates are checking you out as much as you’re checking them out. If you’re a small agency, it’s easy to fly under the radar of negative reviews in Glassdoor.com – but you won’t necessarily escape mention in social media.
A recent LinkedIn survey of 20,000 professionals showed that only 34 percent of them ever heard anything back from the company they interviewed with – and 92.5 percent of them expected some sort of a reply, even a rejection letter. Ouch.
Evidently Glassdoor receives so many candidate complaints that last year they started their “Candidates’ Choice Awards,” recognizing companies providing the best interview experience, based on job seekers’ votes. In our industry, State Farm was tops, with a 68 percent positive rating. “Winning employers tend to provide a transparent, efficient and organized interview process, while communicating with candidates throughout,” they said in a blogpost.
When you’re interviewing candidates, this is the time to show off your company – not just by saying how great a place it is to work, but by showing it. Treat candidates like you’d want to be treated. Be honest as to where you are in the process and how long it will take. You can Google “sample rejection letter after interview” and find some good examples to use. For candidates you’re still considering, email them on at least a weekly basis, and don’t make promises you can’t keep, i.e., “We’re making a decision tomorrow” when you know you’ll be out of the office all day on client calls.
It probably goes without saying, but we’ll mention it anyway: don’t just choose a candidate because he is a hard-charging producer. Will he fit the company culture? Do you see red flags regarding her ability to work with your service team? Hire for skills, aptitude AND culture.
Who’s in charge and how well are they doing?
Larger agencies have more layers of leadership. Since these managers have a direct affect on engagement and productivity, it’s extremely vital to choose leaders who can effectively engage employees, retain top performers and maintain a positive culture of high productivity. Many agency owners find out the hard way: just because a producer is great at selling doesn’t mean he or she has leadership abilities. A Gallup study showed that only 1 in 10 possesses the talent to manage; 82 percent of the time, companies chose the wrong managerial candidate. Another Gallup study showed that half of us have quit jobs to get away from a bad boss. To borrow a phrase from the third Indiana Jones movie, “Choose wisely.”
It takes a village
Entice employees to help you create an agency that top producers want to work for. They helped create the current culture – so embrace it, giving up a bit of control to them. Does your agency have a lot of young families? Then hold a summer family picnic, add a Santa Claus to your family holiday party, have a Bring Your Child to Work day. Do many team members have photos of their dog on their desk? Perhaps try a dog day, or host a Best Pet Costume Contest at Halloween where employees share photos and everyone votes for their favorite. Host a happy hour on a Friday afternoon, starting at 3 p.m. or a pizza party lunch once a quarter.
Celebrate successes: New clients. Nearly-lost-but-then-retained clients. Employee anniversaries. The fact that the team reached their goal of 200 cold calls or phone calls. Find zany things to celebrate.
On the flip side, mourn failures: clients lost. RFPs not won. Instances of inferior client service. Think black swags, candles and organ music, and pull the team into a quick meeting to dissect what went wrong and what can be learned from it. Doing a post-mortem in a light-hearted way, without pointing fingers, helps everyone to learn in a more positive atmosphere.
What else is high on your employees’ wish list? Flex days, every other Friday off, better parking, a floating holiday, better vending machines, a health club discount? Capitalize on their desires and motivation, and enlist them to come up with a workable win-win situation for all.
Related: How important is employee appreciation for your insurance agency?
Your employees are your ambassadors. Not only can they make (or break) your agency as a great place to spend 40-plus hours a week, but they’ll also spread the word about what a great agency you’re building. And you know how important word-of-mouth referrals are!
It’s your turn:
How have you improved your agency’s reputation, both internally with employees and also with new candidates? How has that impacted your reputation and brand in your community?
Not yet an Arrowhead producer? Start here.
Sources:
Glassdoor’s Candidates’ Choice Awards 2015: Winners Announced
4 Reasons Why Employers Should Measure Their Candidate Experience
How to create a company that people want to work for
Half of us have quit our job because of a bad boss