The Spark of Talent in a Blackout of Ambition

Original Content: Muy Segura

I recently read an article about “quiet quitting”, a trend which emerged in particular during the pandemic in the US and has prompted a lot of discussion among sociologists and HR experts. Thinking at some point in your life that you have to make a change is something which has crossed many of our minds (usually on holiday), although at least in my case it doesn’t last long when you weigh it against the satisfaction you get from your job.

But things are different now. Many people are contemplating this (and not just in the US). More importantly, those who are putting that thought into practice by actually taking a decision are younger people who have just barely taken their first fledgling steps in their careers. This is unquestionably worrying. It’s not burnout syndrome, it’s not people who have been stressed out or have invested a lot in their careers; it’s talented young people, perhaps the best educated generation, who are looking us in the eye and saying, “no, it’s just not worth it”. They are abandoning their career ambitions before they have even lit the spark and are stripping talent out of many organisations.

This is very difficult to grasp for today’s generation of leaders. The business community, and the insurance industry in particular, is locked in a struggle for talent that is sometimes unwilling to reproduce current models when faced with job offers which we see as competitive, attractive and thrilling. Now we need more and different things.

The insurance industry is an expert in risk management, a mantra we repeat in many of our presentations and meetings. And the talent blackout cutting across all industries is, from a global perspective, one of the biggest we need to address and with the imperative to drive engagement. We have to get our organisations, whether large, small or medium-sized, ready to work with new profiles with new demands (and yes, I say demands because this is very often the approach). They are the lifeblood our businesses – from large insurance undertakings to brokers, agents or intermediaries – will need. Even more importantly, we need to attract this talent to professions which have never even crossed their minds.

Against this background, what can we do? We professionals working in the insurance industry have to shoulder a significant responsibility for and commitment to the sustainability of our profession and start by changing the perception of the insurance business by dismantling taboos and preconceived ideas. We are certainly doing lots of exciting things on an organisational level which we should continue to explore: initiatives aimed at the successors of businesses and agencies; scouting talent in schools and universities; and tailoring our offers and addressing diversity in order to achieve far-reaching cultural change internally. These initiatives will undoubtedly be the key to our successful survival.

I can honestly think of few other industries where doctors, psychologists, engineers and salespeople all have a place. They are people with university or vocational training who have a vision that brings us together: to protect society. We need to overcome our complexes and talk openly about our purpose and what makes us different from other industries. We are not banks and we are not oil businesses nor food companies. We deal with the most prized intangibles for human beings: the future, trust and security. We have a huge asset at our fingertips which we need to showcase as ambassadors for our industry and win over the hearts of the new generations while maintaining the spark of talent in our organisations.

The content of this article reflects the opinions of the author concerned and not necessarily those of the AXA Group.