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By Zane Smith | June 5, 2023

When it comes to attracting and retaining members of Generation Z, there’s one thing I wish insurers knew: They’re selling themselves — and their industry — way too short.

Too often, people say they fell into insurance. Not only does this paint a negative picture of the industry, it also misrepresents the truth. Today, college students are choosing a career in insurance and they’re doing it enthusiastically. A graduating senior at St. Mary’s University studying finance and risk management, I am one of those next generation workers.

Students often take one of three paths toward an insurance career. Some follow family members into the industry. Others hear about an open role in insurance and apply at the last minute. The third group learns about insurance through industry organizations and decides to pursue a career in the field.

I was in the latter group. When I started at St. Mary’s, I wasn’t sure what I wanted to study. But I already knew the insurance industry had a good reputation, with quality people, job security and upward mobility. Later, I learned about the St. Mary’s chapter of Gamma Iota Sigma, the organization dedicated to promoting student interest in insurance and risk management. I was so inspired by what I learned that, within three days, I declared finance and risk management as my major and I never looked back. My connections with Gamma Iota Sigma now run deep, and I have been proud to serve two years as president of the St. Mary’s chapter.

What Gen Z Expects

There are many stories about what Gen Z and Millennials want from employers — and these stories range from spot-on to way off the mark.

It’s true Gen Z wants to work for companies that give back. We care deeply about leaving a positive impact on society, and organizations that clearly demonstrate their commitment to worthwhile causes draw our attention and interest. Yet, we want to know that our contributions matter and will be rewarded.

We also don’t want to stop learning when we leave the classroom, and want to continually challenge ourselves intellectually. We want to have roles that grow with that knowledge. Few members of Gen Z want to be siloed into one role for our entire career. Instead, we want to apply our skillsets across a broad range of settings, and we’re drawn to companies that allow us to do so.

We also crave well-rounded work experiences. It’s not true that we never want to go into the office or that we prefer to work remotely. While we value the flexibility of a hybrid work environment, we also have a deep desire for in-person mentorship and training. That’s why I urge managers, mentors and even executives to prioritize spending at least some time in the office working with and teaching the next generation of talent. We’ll all benefit if you do so.

How to Recruit Gen Z

In my view, successful recruitment starts when company representatives arrive on campus and support school events and programming before, during and after recruitment season. This helps build a rapport with students that companies can leverage to attract new talent. And the industry needs to recruit more talent than just those who have already expressed interest or are studying insurance or risk management. If we can help students see insurance careers as meaningful, lucrative, stable, and purpose-driven, we will see a greater excitement — and success — in bringing them to the industry.

I also encourage firms to partner with organizations like Gamma Iota Sigma. Companies who consistently attended Gamma Iota Sigma conferences were those I recognized most as a student, prompting me to apply with them. I’ve heard other students say the same.

One of the defining characteristics of my generation is its resiliency. We had a front-row seat to the Great Recession. We went to school, virtually and in person, during a global pandemic. In the face of these unprecedented challenges, we’ve adapted, and we will remain resilient in the workplace.

While many of us don’t know what our long-term career path will hold — me included — we share a desire to define our careers by the people we’ll help and the causes we’ll support. The more opportunities insurance organizations give us to do that, the more satisfied we’ll be with a career in insurance.

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Å˽ðÁ«´«Ã½Ó³»­ Journal Magazine June 5, 2023
June 5, 2023
Å˽ðÁ«´«Ã½Ó³»­ Journal Magazine

Program Directory, Volume I; Markets: Public Entities & Schools