February 22 Breakfast Meeting: "Bridging & Leveraging Talent -- Not Forgetting Generation X"

As baby boomers prepare to exit the workforce, the biggest challenge our industry faces is the "talent gap." By 2018, 25% of the insurance workforce is expected to retire, creating a potential deficit of 400,000 jobs in our industry. The current pool of talent is not sufficient to meet this pending talent gap -- which underlies the importance of not only attracting, but also retaining top talent.

With organizations having moved to more flat structures, there are fewer career ladder progression opportunities. A generation of early Millennials and late Gen X's (in their late 30's to 40's) with 10-15 years work experience are seeing fewer growth opportunities and may be caught in the limited annual salary merit pool cycle for their company. This group may be at the highest risk for organizations with respect to talent retention. These workers have made a commitment to the industry and are looking for professional and career growth support from their organization. Of course, the individual must also take control of building their own brand to secure their own future.

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