Attracting and retaining young talent to work in insurance should be one of the highest priorities of the industry, according to Marsh.
Stephen Reid, managing director of Marsh's Risk Management Practice, said: “There seems to be limited public knowledge of insurance amongst the demographic we are trying to attract to the sector, which is a problem the industry needs to face. Companies need to work together to raise the profile and prestige of the industry.”
According to Reid, the insurance industry needs to create more opportunities to attract Generation-Y staff, such as professional development programmes and the offer of high profile work.
“One of the keys for Generation-Y staff is regular development and mentoring. The new generation of workers is moving away from long-term relationships with companies and are looking for short-term rewards. Companies need to reflect this and offer these rewards,” he said.
