A new report from the International Cooperative and Mutual Insurance Federation (ICMIF) has found that cooperative and mutual insurers are successfully attracting and retaining talent from younger generations.
Based on responses from 23 member organisations, ICMIF pointed to a wide range of initiatives and programs that have helped to position the mutual/cooperative model as “employers of choice” for millennial and gen z talent.
The report also discussed the emerging challenges for cooperative/mutual employers and suggested approaches for managers wishing to attract younger employees.
“This latest strategic report from ICMIF, The next generation of mutual talent, presents many inspiring examples of how cooperative/mutual insurers are using initiatives and innovative programmes to attract, retain and develop millennial and Gen Z employees,” said Shaun Tarbuck, Chief Executive of ICMIF.
“Talent attraction and retention are inherently linked, with many of the various examples from our members featured in this report, acting as a tool for both. The better the culture for employee engagement and development, the more likely potential talent will be attracted to join an organisation.”
The report’s coordinator Ben Telfer, Vice-President, Business Intelligence, ICMIF, also commented: “We are delighted to publish the first research report from the ICMIF Young Leaders Forum. Not only is it great to share some of the unique intelligence on best-practice strategies with our members, but also to conclude the first piece of collaborative research by this group of Young Leaders.”
“We hope that the practical examples and insights presented in the report will help senior leaders within the ICMIF membership with the global challenge of millennial employee attraction and retention and provide a source of inspiration for other young professionals,” Telfer continued.
“Many of the initiatives in the report were created and led by young professionals to proactively aid their own engagement and development and that of their peers within their respective organisations.”
