Insurance Industry Culture: Let’s Grow

Insurance Industry Culture: Let’s Grow

Avatar photo Jeff Gipson | April 3, 2024

The talent pool we have traditionally pulled from in the insurance industry is shrinking. Too many professionals are retiring, and not enough young professionals are attracted to the insurance space. While the industry is taking steps to grow its appeal and bolster its ranks, it has never been more important to fully capitalize on the talent opportunities we have when we have them—and that includes being able to see the value in a candidate that goes beyond the immediate and looks at those attributes that will enhance your culture and ultimately make where you work may be more attractive than what you do.  

Even with all the changes in the workplace brought on by the pandemic, recession, inflation, and the list goes on, a recent study from multiple countries in the US and Europe found what makes employees happy at work has stayed pretty much the same. The top things that keep workers satisfied are the company’s culture and values, how good the leadership is, and the chances to grow and move up in the organization. Professionals want to WANT to go to work in a place they like, with people they find engaging, with leadership that puts their best interests into the decision-making process—basically, they want a professional culture built to propel the organization and the professional forward. 

Finding the right talent is about more than just matching skills and experiences with job requirements. It’s about finding individuals who will thrive in your company’s unique environment and contribute positively to your organizational and insurance industry culture. This is where the concept of cultural fit becomes a critical factor in the hiring process. 

Understanding Cultural Fit 

Cultural fit typically refers to the likelihood that a candidate will be able to conform and adapt to the core values, beliefs, and behaviors that make up your organization. It’s about how well an individual’s personality, work style, and ethics align with your company’s culture. 

In the insurance industry, where trust, integrity, and customer service are paramount, ensuring that new hires resonate with these values is key to a team working well together, clients getting what they need, and reaching your targeted goals as a business. 

Managing that culture can be a challenge. Gauging your employees’ level of fulfillment and how secure they feel in their positions within the company culture is essential to developing a place where employees want to work and want to continue to contribute in the future. This can be done through town hall meetings, anonymous surveys, or simple conversations where professionals feel heard and receive a response.  

Why Cultural Fit Matters in Insurance Hiring 

Enhanced Team Dynamics 

Employees who fit well within your unique insurance industry culture are likelier to work effectively with their teammates. This synergy leads to better collaboration, innovation, and productivity, essential for staying competitive in the insurance market. 

Increased Employee Engagement 

When employees feel aligned with their company’s culture, they are more engaged and committed to their work. This engagement translates into higher job satisfaction, lower turnover rates, and a more positive work environment. 

Improved Customer Experience 

In the insurance sector, the quality of customer service is directly influenced by the attitudes and behaviors of your staff. Employees who embody the company’s values are more likely to deliver exceptional service, fostering stronger client relationships and loyalty. 

Long-Term Success 

Culturally fit employees are more likely to stay with the company for longer periods, reducing the costs and disruptions associated with high turnover. Over time, this stability contributes to building a strong, cohesive brand identity that can attract clients and top talent. 

How to Assess Cultural Fit During the Hiring Process 

Clearly Define Your Unique Insurance Industry Culture 

Clearly articulate what your company stands for. Identify your core values, mission, and behaviors that reflect your organizational culture. This clarity will help you communicate your culture to potential candidates and assess their fit. 

Incorporate Culture Into the Recruitment Process 

Use job descriptions, interviews, and recruitment materials to convey your company’s culture. Ask questions that reveal a candidate’s values, work ethic, and adaptability to your organizational environment. 

Involve Your Team 

Include a variety of team members in the interview process to get different perspectives on the candidate’s potential cultural fit. Also, introducing a potential new hire to more than one face helps relieve some tension during the hiring process, taking that emphasis off of one representative and spreading out over your team, giving the candidate a better idea of the dynamics they will encounter when and if they become part of your organization. 

Look Beyond the Resume 

While skills and experience are important, also consider personality traits, attitudes, and life experiences that indicate whether a candidate will thrive in your company’s culture. 

Offer a Realistic Job Preview 

Give candidates a clear picture of what working at your company is like, including the challenges they might face. This transparency helps both parties make informed decisions about cultural fit. 

At The James Allen Companies, we know the nature of this work involves managing risks and fostering trust. Hiring for cultural fit is not just beneficial—it’s essential. By prioritizing cultural alignment in your recruitment process, you can build a workforce that is not only skilled and knowledgeable but also deeply connected to your company’s values and goals. This holistic approach to hiring can significantly contribute to your organization’s success, resilience, and reputation in the highly competitive insurance landscape. 

About the Author

Avatar photo
Jeff Gipson
Jeff Gipson Sr. is a veteran of the staffing industry, with more than 30 years of experience. He got his start working for an international staffing organization where he focused on information technology placements across the country. In July 1992, Jeff continued his staffing career with a St. Louis based information technology staffing company. There, he was strategically involved in launching the organization’s first branch office — and subsequently three additional branch offices over the next several years. In July 2000 Jeff made another move — this time to launch his own staffing company, continuing his IT focus. In 2003 the organization was reinvented. Relying on his earlier sales career in the insurance industry, the company changed course and began building the firm around the insurance industry. The company continues to put all their energy in the insurance sector filling positions of all titles across the country. Jeff and his wife Carolyn have been married since 1980. They have three children and seven grandchildren.
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