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August 27, 2015 at 07:08 AM
The millennials of today are young and ambitious, have a thirst for knowledge and are looking for ways to help those around them. They are already becoming your clients and employees. If you aren’t reaching out to this generation, your business might be in trouble soon.
Below are some tips that insurance and financial services companies can use to attract more young professionals to these fields, as well as some tips for all millennials out there looking to excel in these industries.
These tips were compiled from interviews with industry experts Lindsey Pollak, The Hartford’s millennial workplace expert; Amy McIlwain, vice president of social and digital strategy at Denver-based Moore Communications Group; Samuel Rad, a millennial advisor based in Beverly Hills, California; Matt Wallaert, behavioral scientist at Microsoft; and Breana Macken and Emily Tracey, LIMRA analysts.
(To read the full feature about millennials, go here.)
For companies:
1. Mentoring:
This is going to be key for new advisors’ success in the field. Real world training is more important than being in the classroom. Having a mentorship program helps millennials understand the relationship-building experience that advisors constantly practice with their clients.
2. Internships:
As a company, you should provide opportunities such as internships for students. Internships look great on a résumé and are a great way to get a foot in the door at a company.
3. Approach college campuses near your area:
You can offer talks in which you discuss the different career possibilities within the industry, including your own career.
4. Recruiting:
Companies need to be proactive when it comes to recruiting and not wait for millennials to come to them. For example, look to what banks and investment firms are doing on college campuses as an example of how to recruit the next generation.
5. Social media:
Post pictures and video of the young people in your company on your website and social networks. Millennials like to get a sense of what your company is about and your corporate culture. You can have your millennials tell their stories.
