Employer Branding For The Insurance Industry
The insurance industry is undergoing a number of exciting and innovative developments that make it a great place to work. However, if you’re not currently working in the industry, you may not know it. Many people view it as an antiquated industry that has serious working environments, and has struggled to keep up with the times. In particular, young people don’t always see the value in buying insurance – so the prospect of being involved in selling it doesn’t appeal.
Insurers spend huge sums managing their consumer brand; yet often fail to pay enough attention to their employer brand, despite the two being so closely linked. Our research found that 58% of employees say company brand is more important to them than it was five years ago. They don’t just want a more detailed job description – company mission, culture and a commitment to corporate social responsibility are increasingly becoming key deciding factors when making a move. Fail to properly invest in your employer brand, and you’ll struggle to attract the attentions of the best workers.
How Can Insurers Stand Out From The Crowd?
For insurers, your employer brand is how you will make sure you stand out from the crowd. When faced with sparse talent pools, employers need to think more creatively about how they attract the best workers. Since pay and benefits have become very standardised across many insurance companies, your employer brand is one of the ways potential new recruits can distinguish one company from another.
Insurers need to be upfront and open with people about the things they can offer as an employer. Disclosing critical information about a job during the interview process won’t cut it anymore. Today’s jobseekers want practical, emotive and interactive communications that create a positive and engaging experience, before, during and after an interview.
Here are five changes you can make to improve how your employer brand resonates with potential employees:
Own The Content On Review Sites
Employer review sites often directly ask users about company weaknesses, as well as strengths, so there is a tendency towards negative content. Many insurers ignore these comments and put their heads in the sand. But most potential employees recognise that workplaces are never completely perfect. Instead, they want to see that employer-employee trust is cultivated rather than squelched. Using employer review websites to acknowledge imperfections and talk about the company’s core values can reduce long-term damage to employer brand.
Practice What You Preach
Brand is a factor at every point in the hiring process. But if it does not align at every step – from job postings and interviews, to onboarding and training programmes – potential new recruits will detect inconsistencies and become disengaged in the process. If you make a promise about your organisation during the hiring process, it’s critical that this comes to fruition when that person starts in their role. Delivering on employee expectations will go a long way in building trust, and making your existing employees brand ambassadors.
Encourage Free Speech
Some insurers prohibit their employees from talking about the workplace on social media. Given the sensitivity of their work, it’s often deemed too much of a risk. But prospective candidates place greater trust in the things your existing employees say about your company, rather than the things you say about yourself. Allow your employees to speak freely, but educate them on what’s expected in terms of tone, content and appropriateness.
Arm Employees With The Brand Message
In many places, ‘what do you do?’ is a popular conversation starter. Transform your existing employees into a mini-army of brand ambassadors that ‘sell’ your organisation to their friends and family, by making sure they understand the essence of the employer value proposition. Some people are natural ambassadors, but others will need a little help in briefly and effectively articulating key messages. Offering talking points can be very effective.
Building a robust talent pipeline is an increasingly complex task. But by underpinning your candidate attraction efforts with an effective employer brand at every touch point, you can ensure your organisation stands out from the crowd in a competitive market.
Learn more about how we can help you to enhance your employer brand – visit Recruitment Process Outsourcing.
This article is an extract from our guide The Future of Insurance Recruitment. To download the full guide, please click on the link below.