Recruiting can be a daunting task. When looking to grow an agency, trying to find the right fit can be difficult. Applicants may come from various backgrounds of education and experience, and it can be challenging to determine which backgrounds and which skills will benefit an aspiring insurance agent. Colby Direct has the industry experience to understand how difficult recruiting can be. Here are some tips on how to recruit qualified and capable insurance agents.

Generic Recruitment

Generic recruitment describes a recruitment style to is broad and non-specific. This is not a bad idea within the insurance industry, as many backgrounds can be adapted into insurance. Very few children aspire to work within the insurance industry, yet the U.S. insurance industry employed 2.8 million people in 2019. Of that 2.8 million, 1.2 million worked for insurance agencies.

Generic recruitment presents some challenges, specifically the influx of resumes or applications for those who may not be eligible for agency licensing or do not have applicable skills. Certain criminal offense convictions may preclude individuals from obtaining an agency license. Federal law prohibits employment discrimination based on prior felony convictions unless that conviction may be related to the job.

Applicable insurance agent skills include:

  • Sales: The best sales agents have a passion for sales.
  • Flexibility: The insurance industry changes based on regulation and legislative changes. Agents should be able to adjust to the changing needs of the industry.
  • Desire to Lean: Agents learn the insurance industry and the technology required to sell and maintain policies.

Colby Direct offers a wide variety of insurance or wealth management services to the clients they serve. An agent with a passion for sales can be adaptable to all the opportunities an agency may provide. A successful agent does not need to be an insurance expert when starting his or her career.

Branded Recruitment

Branded recruitment is a more focused approach. This process is more selective from the onset, limiting the number of applications, interviews, and interest in an agent role. Branded recruitment focuses on agent searches specific to a particular employment brand. Determination of the best recruitment process may often depend on the unemployment rates.

Early 2021 showed unemployment rates at 6.2%, which were drastically decreased from the peak levels of the COVID-19 pandemic and still remarkably higher than the pre-pandemic levels of 3.5%. When unemployment rates are high, more people are seeking jobs. With a higher candidate pool, branded recruitment helps narrow down the candidates to those who would best compliment a team of agents.

A challenge to branded recruitment includes the risk of not diversifying. Colby Offspring is an example of how a diverse team can benefit an agency. Qualified candidates from various backgrounds provide balanced collaboration and innovation to any team.

For more information on insurance agent recruiting, contact the Colby Direct experts at (443) 440-5041.

External Resources:

https://www.iii.org/publications/a-firm-foundation-how-insurance-supports-the-economy/introduction/insurance-industry-at-a-glance

https://work.chron.com/felony-employment-laws-7962.html

https://www.bls.gov/news.release/pdf/empsit.pdf

NEED HELP RECRUITING? Contact us today. We’re happy to answer any questions you have!