The Ontario Broker - August 2019 - 12

FOR GREAT RETURNS
INVEST IN TALENT
BY BOB TISDALE, PRESIDENT & COO, PEMBRIDGE INSURANCE

I

f you ask a number of people who
work in our industry if they'd
always dreamed of having a career in
insurance, they'll likely say no. Our
organizations are filled with people
who fell into insurance, with a handful
who followed their parents or friends.

Given the workforce disruption we're facing
with Baby Boomers retiring, we need to attract
people who wouldn't typically consider a
career in insurance. According to a survey
conducted among millennials by Deloitte in
2018, less than 4% are interested in becoming
a broker or insurance company employee.

Surprisingly, salary isn't one of their top
priorities given that this generation will carry
the highest student loan and government
debt load than any generation before it. A
competitive wage is important, but studies
show that more than half of millennials
will take a job for a lower salary if it's with a
company that meets their top priorities.
PROFESSIONAL DEVELOPMENT

So how will we attract these people to the
insurance industry? The fact is, what they
want out of their careers isn't that different
from today's workforce. Studies show that
millennials' career priorities include:

Very early in my career I had a conversation
with my boss about my future. He imparted
the most valuable advice I'd ever received:
the best way to move forward in your career is
by furthering your education. The next day
I signed up for my first insurance course,
and it was an eye opener. I doubled up (and
sometimes tripled) my course load and
received my first insurance designation in
less than two years.

* Opportunities for professional
development and advancement-
providing training, education, mentoring,
peer-to-peer coaching and clear
development paths
* Flexible work arrangements-being able
to work from home and have a flexible
schedule
* A healthy work-life balance

I immediately began to see the benefits.
I was promoted in the organization and
recognized for being an educated insurance
professional. I was hooked, so I didn't stop,
and a number of designations and other
educational accomplishments ensued.
I've come to live by the adage: Education is
the mortar that binds together the bricks of
experience.

AUGUST 2019

12

There are numerous outlets to further
professional development through
education within the industry. The
IBAO offers a multitude of courses
including those that can lead to the
Canadian Accredited Insurance Broker
designation-a renowned achievement
that increases leadership potential.
Various colleges and universities have
online certificate and diploma options.
Even LinkedIn boasts several soft-skill
courses. Whatever you choose, whether it
adds credentials to your signature or not,
expanding your knowledge in any capacity
will only result in great accomplishment
and success.
Most managers and mentors speak
to employees about their individual
development-what they can do at work to
further their career through training, on-thejob experience and performance. One of the
most important elements to include in these
conversations is how continuous learning
can bolster professionalism and elevate
careers. Be it through taking courses specific
to insurance, attending seminars on industry
topics or pursuing professional designations,
degrees or diplomas, each will impart
knowledge and insight that are enriching to
the individual.

WWW.IBAO.ORG
http://WWW.IBAO.ORG
The Ontario Broker - August 2019

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