New Kids on the Block
17 January 2024
Our Head of People, Sarah Pickerill, recently spoke to Modern Insurance Magazine about the New Kids on the Block
New Kids on the Block
Attracting and investing in young people within the insurance industry is crucial for our future. We have seen the landscape shift with the huge growth in apprenticeship programmes and social mobility initiatives to attract mainly young and diverse people into our profession.
Diversity of thought, background and lived experience brings fresh perspective and innovative ideas to an industry that is continually evolving. By exploring the topic of new kids on the block, we would be wise not to neglect the vast wealth of talent and experience that late career changers can bring, perhaps those who have had a taste for retirement and a different lifestyle during the pandemic, but still wish to seek fulfilling employment.
Inspiring a new and diverse generation of talent in insurance ensures an effective transition of knowledge and expertise. Closely aligned with reverse mentoring both new and established employees can learn from each other, in an environment where psychological safety and trust is key.
We are now operating in organisations where we can have five different generation categories employed alongside each other. It is not difficult to appreciate the importance diversity of thought can bring; engagement factors for a 16-year-old apprentice is likely to be very different to those nearing the end of their career. It’s widely recognised that organisations where autocratic decision making from older leaders around engagement, technology, and what they believe people will want, is likely to be less successful certainly culturally and undoubtedly financially, than those committed to listening to the outputs of ERGs.
At Carpenter Group, we facilitate ERGs; actively listening to our employees ideas, wants and needs in order for them to be and feel personally invested in organisational goals. We provide training programmes, both formal and informal, as well as a strong and clear progression routes. Our successful apprenticeship programme has brought through over 50 people into roles where the skills and education developed within their apprenticeships have been recognised. These initiatives not only benefit us as Carpenters Group continues to grow, but by having a more skilled and engaged workforce, we ensure we have people who are motivated and engaged to deliver successful outcomes to a diverse range of clients.
Supporting the development of new kids on the block, will help to address the talent shortage our sector currently faces. For too long people have fallen into the insurance profession, thankfully, we have seen this change over recent years, as organisations start to recognise the importance of selling the opportunities, benefits and excitement of working within insurance, to make the industry stand out as a place people genuinely want to work and be a part of.
Investing in new kids on the block is undoubtable essential for fostering innovation, developing a positive culture, ensuring diversity of thought, aiding technological advancement and will help address talent shortages. By recognising and nurturing the potential of any new kid on the block, the insurance sector ensures its continued advancement in a modern world and the real question is can you afford to ignore them?
Sarah Pickerill, Head of People