Most brokers struggling to attract young talent – Ecclesiastical

The majority of brokers have revealed that recruiting young talent is a challenge for their business, according to new research by specialist insurer Ecclesiastical.

Data showed that while 66% of firms are eager to hire younger employees, 50% are struggling to bring in candidates under the age of 30.

This is despite brokers being keen to attract younger talent to help with succession planning (87%), to bring new ideas (77%) and to bring new skills (76%).

However, 66% said there were a lack of applicants for jobs, while 51% believe young people do not have the experience needed for roles in the sector.

As a result, 64% of brokers say recruiting young talent is a strategic challenge, with 56% being concerned about a potential talent crisis in the industry.

Some 90% also felt trade bodies could do more to promote insurance as a career option for younger people.

Richard Coleman, managing director at Ecclesiastical, said: “Most people seem to fall into a career in insurance, but the industry can’t rely on that anymore.

”Across the industry, we need to get better at showcasing what a brilliant place this is to work and the impact that the insurance industry has on the world.”

Proactive steps

However, the survey of 250 UK brokers also found proactive steps are being taken to attract younger talent.

For example, 41% are hiring apprentices and a quarter have introduced flexible working to attract and retain young people.

Meanwhile, more than half (55%) of brokers said they had training programmes in place to support the development of young talent.

Ecclesiastical is urging those without a plan in place to look at their learning and development offer to prospective recruits.

Coleman added: ”Younger people aspire to do work that gives them a sense of purpose, as well as provide learning and growth opportunities.

”So, to attract new talent, brokers need to be clear about their own purpose and values.”