Successfully Managing a Multi-Generational Agency
Insurance agencies across the US are facing an unprecedented challenge as there are currently more generations in the workforce than ever before. As the retirement age rises, there are more workers, both full time and part-time, in their 60s, 70s and even 80s. At the same time, a new generation in their early 20’s is entering the insurance industry. Each generation has distinguishing traits and values that have been shaped by the experiences they have had during their lives.
When you have this many generations working side by side in your agency, conflict can arise. However, there are ways to overcome generational issues.
Help Employees Develop a Growth Mindset – Whether the employees on your team are new to insurance or are seasoned veterans, they will come with a certain level of knowledge, experience, and skills. When employees identify themselves by these things, they will be held back by a fixed mindset resistant to anything perceived as being new or different. However, when employees can embrace a growth mindset, they are more open and willing to learn new things and adapt more quickly to change. They are also more likely to accept mistakes and look at them as learning opportunities.
Promote a Culture of Collaboration – Every employee should have a desire and opportunity to contribute to the success of the agency. The more senior members of your team may bring a lot of wisdom and experience to the table, while younger employees may have more technical skills. Bringing everyone together, blending and highlighting the unique talents of each person creates a winning experience. Not only does the agency allow each person to contribute based on their strengths, but it is also an excellent way for employees of all ages to learn from one another.
Personalize the Employee Experience – Employees want to feel valued regardless of age. However, how an employee perceives value may differ by age. A “one size fits all” approach does not work across generations. Whether it’s benefits options, work schedules, or professional development and career goals, each employee is going to have different needs depending on what stage they may be at in life. Having the capability within your agency to customize according to individual needs will help build stronger relationships between leadership and employees.
It can be a challenge to manage such a wide span of ages and generations within your agency. However, creating a culture at your agency that recognizes the value of all individuals and what they contribute will help drive success for your employees and your organization.
