As a sizable percentage of title professionals look forward to retirement in the coming decades, companies are looking to hire and train a younger generation of workers.
This may be of critical importance in the coming decade, as the insurance industry overall is experiencing a talent gap that can only be filled through effective strategy on the part of company owners.
Understanding what the younger worker requires in their working environment, and how this might differ from current expectations within your agency, will help you better craft a plan for attracting, hiring, training and nurturing young talent.
Historically, the title insurance industry brought in talent through word of mouth, or more importantly, through family connections, with sons and daughters often following in their parents’ footsteps.
In today’s environment, a title company looking to hire and train new talent must broaden their reach to attract young professionals, which can only be accomplished through modern means, i.e., the internet.
To do that effectively, a company must first develop a strong culture internally, which they must then brand out on the airwaves. To be effective with the younger generations, the agency should focus on their value proposition, including everything they can offer a candidate, such as diversity, technology, upskilling and the potential for a strong career path.
Explaining the title insurance industry to candidates to make it sufficiently attractive can be an uphill battle for an industry that is often hidden from view. Couching the various facets of the industry in more common parlance will overcome initial resistance – i.e., sales, marketing, data processing, etc. will at a minimum get candidates in the door. Then it’s up to the hiring managers to present an enticing picture of the industry as a defined career path as well as selling the candidate on the company’s culture.
Younger employees have been born into the digital age and are used to being in constant learning mode. This is a great advantage to title insurance agencies where there is a lot to learn and ample opportunity for eager workers to contribute across multiple departments.
Title owners know how important it is to have a nimble staff who can easily step into various roles as the business ebbs and flows. This eager, younger generation can be a boon for an agency manager who is eager to keep the work fresh and interesting by offering regular training opportunities as well as hands on experience in various departments.
The younger generation of workers has proven to be highly mobile, compared to the Boomer generation that was more prone to locking into a single career or single company for much of their career.
The best way to keep this generation from straying to greener pastures is to commit to offering a clear path for them to grow within your company and check in to ensure they are happy with the progress they are making. This is not something you can pay lip service to. They will know when they are stalled out and will not hesitate to seek greener pastures.
Florida Agency Network (FAN) is an alliance of title agencies and service providers that share back-office services, pooled resources, access to industry-leading technology, improved efficiencies, and the ability to offer their clients greater geographic coverage throughout Florida. Contact us to learn more about how our strategic alliances can help you expand your business opportunities in the coming year.
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