Targeted approaches needed to attract diverse talent: Panelists

NEW YORK – Companies need to be targeted in their outreach and partner with smaller colleges and HBCUs to recruit younger, diverse talent, panelists said Friday at the Business Insurance Diversity, Equity and Inclusion Institute’s annual DEI Leadership Conference.

Adapting recruitment strategies to appeal to diverse candidates is a “work in progress,” said Christina Mott, chief operating officer at Marsh McLennan Agency, the small and midsize brokerage unit of Marsh LLC.

“We have a diversity and inclusion council that’s made up of colleagues at all levels and we challenge them to think out of the box. One of the things they came up with was ‘let’s stop going to the same colleges and universities for recruitment,’” Ms. Mott said.

MMA also reviewed its job descriptions for entry-level positions, Ms. Mott said. “A lot of them said ‘bachelor’s degree required.’ We challenged the managers and were able to get that down from 57% in job descriptions to 20%.

Companies must ensure that diversity, equity and inclusion is embedded within the organization, said Stacy Johnson, director of talent and organizational development at Risk Strategies Co.

“Our DEI initiatives are woven into our programming because it is part of our culture and part of our value proposition for our associates,” Ms. Johnson said.

“When we talk about diversity for a lot of leaders, particularly in this industry, it is viewed as a male-dominated, Caucasian-led industry. So, we have to shift the mindset of these leaders,” she said.

Diversity is about more than just color, race, gender and LGBTQ+, Ms. Johnson said.

“There’s diversity of thought and experiences. When we look at diversity through that lens, it expands the programming we’re able to provide to our associates,” she said.

One of the recruitment challenges facing the insurance industry is that those in it don’t talk enough about the work that they do in a way that resonates with younger people, said Teresa Chan, director of the Master’s in Insurance Management program at Columbia University in New York.

“When somebody asks you what you do, what do you say?” Ms. Chan said.

“When I was working in the industry, I didn’t say, ‘I’m in insurance.’ That’s an easy answer. I would say, ‘Oh, I create products that help facilitate the financing of renewable, alternative energy projects,’” she said.

Companies need to go to where diverse candidates are cultivated, said Gregory Smith, a recent graduate from Georgia Gwinnett College.

They also need to be open to looking at smaller schools, Mr. Smith said. “During my internship, most of the students were from the University of Virginia, Clemson and Georgia Tech, these bigger schools,” he said.

Georgia Gwinnett College has about 12,000 students.

Change requires action, said Katherine Kyle, chief people officer at Builders Insurance Group, who moderated the panel session.

“You can’t just hear it and listen to it. You’ve got to really take a step,” Ms. Kyle said.