With a serious shortage in talent happening within the insurance industry, carriers are straining under the weight of too much work and too few employees, a problem that will only deepen as more Boomer-aged insurance professionals head off to retirement.
Executive Summary
You're not losing control over your employee; you're gaining a valuable business boost when you employ staff remotely—a tactic that appeals to both the youngest and oldest segments of the workforce. Here, Sharon Emek, CEO of WAHVE, explains the three reasons why remote workers can be your best business advantage: borderless talent options; increased productivity and lower business costs.Yet the industry has not addressed effectively the growing talent shortage. Understandably, insurers have focused primarily on attracting millennials to insurance careers. Still, in an era of global enterprise, too few carriers offer anything but a traditional, 9-to-5 in-house business model.
That’s a big deal, particularly to the millennials who are considering career options. A 2013 Odesk study reveals that 89 percent of millennials prefer to choose when and where they’ll work over a traditional 9-to-5 job. On the whole, 45 percent of millennials would opt for workplace flexibility over pay, according to a 2013 study by Millennial Branding.
