Hire Outlook: Generation Z and Insurance Careers
Significant Industry Talent Gap on the Horizon
10,000
baby boomers retire in the U.S. every day¹
of those retiring
are expected to
be insurance pros²
25%
unfilled industry positions by 2020³
400,000
To address this challenge, the insurance agencies of tomorrow need strategies today for attracting future employees, specifically post-millennials also known as Generation Z.
Who Are Gen Z?
61 million strong and growing every day
Born 1997 to the present
Gen Z will account for 2.5 billion people or 32% of the global population in 2019
4 Fast Facts About Gen Z
Born using internet, social and mobile simultaneously.
The connected kids
Have quick attention spans and a penchant for short, snackable content.
8 seconds at most
Highly value offline relationships and seek real-life connections.
Real and authentic
Tend to be pragmatic, frugal, future-focused realists.
Practical and frugal
In collaboration with InVEST, we conducted a survey to provide insight into what Gen Z are looking for in terms of insurance careers.
Survey Findings:
Gen Z Insurance Career Preferences
are somewhat familiar with the insurance industry
46%
would consider
a career in the insurance industry
if they understood the jobs available
47%
consider innovation at a company they work for to be
very important
58%
believe flexibility
to work outside
the office is
very important
65%
When it comes to insurance:
When it comes to work environment:
To recruit Gen Z as future talent, there is work to be done and soon. Insurance agencies need to rethink some traditional business practices to be an appealing career for this generation.
Attracting Gen Z to Insurance Careers
Find out 5 ways your agency can attract Gen Z to an insurance career.
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1 Pew Research Center
2 “Attracting Millennials to the Insurance Industry: A Complete Guide.” Brown & Joseph Blog, December 9, 2018.
3 Ibid
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