Despite living in a period of economic uncertainty and under the threat of a looming recession, today’s job market remains highly competitive. At the same time, it’s become clearer than ever that for companies to succeed through times of economic turmoil and come out the other side even stronger, they need to be continuously investing in their future leaders: Gen Z.
From our surveys of top university recruitment programs, we’ve found that certain industries are more likely than others to make that continued investment in entry-level talent than others — like the insurance industry. In fact, we found that the insurance industry is among the top three industries that are the most likely to remain steadfast in their entry-level hiring from 2022 to 2023, or even increase their hiring goals. In other words, your competition has no plans to slow down when it comes to inviting new talent through their doors.
Fortunately, that talent pool only continues to grow. In fact, the number of students studying in fields such as economics continues to increase (by nearly 30% between 2010-2020) — which is promising seeing as the insurance industry has consistently grown 1.3% percent each year since 2018.
However, attracting Gen Z candidates to careers in insurance can be a challenge if you don’t know what this new generation of workers care about and want to see in their future employers. To help you drum up excitement about your opportunities for Gen Z internship and job candidates in insurance, we’ve compiled some data about what Gen Z wants in the workplace, and how you can leverage that data to strategically promote your insurance roles to top talent.
What we know about Gen Z (& how you can use it)
Gen Z cares about compensation
It’s no surprise that the economic downturn has put compensation at the top of the list for Gen Z candidates when it comes to workplace priorities. When we asked Gen Z candidates in 2023 about what factors would cause them to back out of an offer for another opportunity, a higher compensation was the most popular response. Specifically, 66% of candidates admitted that they would rescind their offer for a superior compensation package.
Working in insurance can be extremely lucrative, and those who grow within the industry can expect to earn competitive salaries — reaching higher than $172,500 annually for certain roles. And while pay differs based on role and company, Glassdoor reports that the average entry-level insurance job pays $51,979, which is a respectable salary for a new grad’s first role. If you’re looking to attract Gen Z candidates to careers in insurance, you’ll want to both put your best offer forward to protect yourself from reneges, as well as highlight the potential for candidates to earn higher salaries as they grow their careers.
To understand a little more about what salaries interns and entry-level workers are making across different roles and industries, read our benchmarking report on the Gen Z job search.
Gen Z cares about career growth and career alignment
Contrary to popular belief, Gen Z is a loyal bunch. Our data shows that over 60% of Gen Z candidates see themselves in the same role for 2.5 years or more — proving that this generation of employees is looking for long-term alignment and meaningful work. At the same time, this generation is also focused on career advancement, so while they are willing to invest in your company, they need you to invest in them as well. Specifically, we found that 72.2% of full-time candidates said they expect to receive a promotion in their first year of employment with a company.
The insurance industry specifically has plenty of opportunities for interns and entry-level hires to grow and advance, and ‘career-mapping’ when advertising positions to Gen Z candidates is key. When marketing your open roles — and during the hiring process — be sure to help candidates paint a picture of how they grow their career with you. Showcasing career development programs, mentorships, networking opportunities, and the ability to quickly move up the ranks by highlighting employees who have advanced are essential when targeting Gen Z job seekers.
Gen Z cares about workplace flexibility, but not necessarily fully remote opportunities
Gen Z workers are looking for meaningful work and financial stability, but also value flexibility in the workplace — to a certain degree. And that’s clear when it comes to how they prefer to work. Our data shows that the most preferred work setting for Gen Z candidates today is hybrid, with more than 60% of candidates saying they want the chance to both work from home AND go into the office. Looking closer, when we asked candidates if they preferred that they choose which days they go into the office in a hybrid setting or that their company designates their in-office days, more candidates chose the latter, signifying that they want some direction and guidance as they enter the workforce.
The insurance industry is in a great position to offer Gen Z hybrid work settings because of the nature of the industry and the work that’s done. A majority of the type of work than an entry-level candidate or intern might be doing, from customer service to sales, can oftentimes be completed online, from anywhere, making it an ideal field for hybrid positions.
Getting the appropriate offer in front of Generation Z is the best way to attract them to a career in insurance. It’s critical to provide flexibility, mentorship, professional development, and a fun, welcoming work environment — and by doing so, you can create a strong pipeline of talent for your company.
Best practices for attracting and marketing to Gen Z
Now that you understand what Gen Z wants in their future employers and how the insurance industry can use that data to better market their roles, it’s time to dive into some best practices for attracting this generation of workers.
Have an active online presence
Gen Z is composed of digital natives who are engaged with technology, so it stands to reason that having an active online presence can help you attract and retain Gen Z employees. In fact, we found that the most popular way that Gen Z candidates learn about new companies and open roles today is through research online. Staying active on social media, updating your website, and maintaining your blog (if you have one) are all ways to boost your online presence and show students you are actively looking for talent like them.
Offer a mix of virtual and in-person recruitment events
Because Gen Z prefers a hybrid work environment, it’s critical to apply this same treatment to your events strategy, and offer a mix of virtual and in-person recruitment events. Consider hosting live webinars alongside in-person campus visits to a select group of schools,, or even enlist a recruitment partner to help you organize events.
For tips, ideas, and best practices for hosting creative events, check out our guide on producing terrific candidate experiences: 100 Events & How to Do Them.
Provide a great candidate experience
The application process is a critical part of candidate experience and can make or break your chances of attracting Gen Z workers. Today, the biggest indicator of a poor application and hiring process is a lack of communication. And Gen Z told us that could be anything from not hearing back at all from a company if they are no longer advancing in the hiring process to not receiving timely updates (within a week) about their application status. And don’t think that a flaw in your hiring process will be hidden from other prospective candidates. It’s always a possibility that upset candidates will take to sites like Glassdoor to share their negative experiences.
The ‘candidate experience’ may be Gen Z’s first interaction with your brand — and should only stand to reaffirm their decision to move forward with you. To do this, make sure you provide updated, valuable information and are responding in a timely manner. Giving candidates the feeling of being valued and having an understanding of the applicants’ goals is key to landing top, young talent.
Reach Gen Z early
Reaching Gen Z early is essential to attracting and retaining young and diverse talent to the insurance industry. Employers should start connecting with high school students, first-year college students, sophomores, or even younger generations exploring different career paths to open their eyes to what you have to offer.
Brand recognition takes time, and one of the best ways to build relationships with Generation Z is by hosting informal events for underclassmen. Inviting these students to attend events that offer insights into the world of insurance can be a great way to get them interested in the field and your business. By doing so, employers are building a foundation for future talent and getting the word out about the benefits of an insurance career.
How RippleMatch helps candidates uncover your opportunities
RippleMatch is the recruitment automation platform changing how Gen Z finds work. By replacing job boards with matching and automation, RippleMatch eliminates the most time-intensive parts of the recruitment process for both employers and job seekers.
RippleMatch can help you build your brand & increase diversity
For employers and candidates alike, RippleMatch is the perfect solution for attracting top talent in the insurance industry. Our platform provides an easy and efficient way for you to expand your network and build brand recognition with early career professionals, and for students to understand why they might be a great fit for an industry they either have, or may not have yet considered. Plus, we can help you meet D&I goals by connecting you with our diverse candidate pool representing more than 180+ HBCUs and HSIs.
RippleMatch can help you manage applicant volume, and provide a seamless candidate experience
RippleMatch allows you to quickly sort through inbound applicants, identify top prospects, and create a more responsive candidate experience by:
- Automatically surfacing viable candidates and flagging those that are unqualified to reduce applicant review time by 70%.
- Unlocking analytics into your entire early career pipeline, no matter where a candidate was sourced from.
- Allowing you to respond to candidates in days — not months — and create an exceptional candidate experience that stands out from the competition.
RippleMatch can help you get the most out of your recruitment events
RippleMatch also offers a standout Events management system that allows you to:
- Capture every lead and engage the right talent at scale with the most intuitive platform for recruiting events.
- Turn RSVPs into hires. With a single source of truth for candidate information, follow ups are a breeze. Invite candidates to apply for the right jobs and keep in touch.
- Measure ROI by seeing which events lead to hires and where you are meeting diverse talent.
Recruiting top Gen Z talent in the insurance industry can be demanding, but it doesn’t have to be. By leveraging data on Gen Z and the right technology to help you scale your efforts, increase your impact for events, and provide an amazing candidate experience, your company can stand out from the competition and bring in promising candidates from a variety of backgrounds.
Interested in how RippleMatch can support your recruitment efforts? Book a demo today to learn more about our platform and why top employers are turning to us to recruit early career talent.
