The current talent landscape can appear bleak for the insurance industry, as the so-called “Great Reshuffle” shows no signs of abating. The shortage of talent, compounded by workplace changes brought by COVID-19, means insurance companies must challenge their own practices when it comes to recruitment and retention.
For Vancouver-based APOLLO Insurance, these trends have driven a more global approach to hiring and its people culture. “Post-pandemic, our talent pool has expanded now that we are mostly a digital work environment. We're thinking more globally. We’re thinking about how to create a cohesive culture remotely,” Chloe Lyons (pictured), director of recruitment at APOLLO, shared with Insurance Business.
As an insurtech, APOLLO must adapt slightly different strategies for attracting talent since it needs to appeal to brokers and underwriters as well as engineers. Lyons said the key is focusing on a target audience and their career motivations.
“We make [our recruitment process] very candidate centric. That really is the key right now in this very competitive market: ensuring time is valued and feedback is timely, and that we are condensing and streamlining as much as we possibly can,” said Lyons.
Following through with job updates and listening with intent to understand a candidate’s needs are small but impactful ways to create a positive experience, according to Lyons. “Those little touches go a long way to make that human connection. I like to have a transparent conversation around compensation, for example,” she added.
“Listening seems basic and simple, but it's critical: using that throughout the recruitment process to make sure that we are listening to and meeting their needs and consider what drives them. That's where also you can bring in the value: really listening to what motivates individuals to understand how APOLLO can contribute to their career goals, or what they're looking for in terms of an organization and the culture.”
Lyons stressed the importance of aligning with individuals that share the company’s vision – a responsibility that falls not just on recruiters and HR professionals, but the organization as a whole.
“At the end of the day, it's about authenticity. That's one thing that has come out of the pandemic: more than ever, people are looking for that authentic experience, that authentic culture and company to work for where they really feel like they're making an impact,” Lyons said.
Authenticity may still sound like a trendy buzzword, but it’s something younger generations entering the workforce are keyed into, Lyons said: “When we look at Gen Z, there are studies that show that they prefer almost to not work at all rather than be in a job they're unhappy with. But that just shows us all the importance of having valuable work. It's not just about bringing the right people in, but the right people in the right seats on the bus, essentially.”
When it comes to cultivating its work culture remotely, Lyons said considering employees’ needs remains a priority as APOLLO scales its organization.
“People want that flexibility. They also want growth opportunities, and they want to be challenged. They want to understand what a company’s diversity and inclusion strategies are. They want to have a seat at the table and have a voice in the direction of the organization that they're in,” she observed.
APOLLO’s employee- centred policies include unlimited paid time off, empowering team members to create the balance that works best for them, according to Lyons. Quarterly growth snapshots, instead of the traditional mid-year or annual approach to performance management, also aligns better with APOLLO’s fast-moving growth and provides team members with better opportunities to stay on track with their goals.
“We want to make it clear from the beginning how important they really are to us. And then we work closely with managers to address any pain points that puts retention at risk,” Lyons shared.
“We try to do things a little bit differently, but at the end of the day it closely aligns with who we are as an organization, versus just doing what's always been done. I think what sets us apart in terms of our culture is that we are creative, and we're willing to think outside of the box and try everything once.”
