Talent. That’s what every organization looks for in their next employee. Yet sometimes there’s a shortage of the kind of talent your organization is looking for.
That’s particularly true within the insurance industry, which is expected to lose one-fourth of working insurance agents to retirement this year, according to a McKinsey & Co. study. The Bureau of Labor Statistics backs up that figure, citing that the industry will have over 200,000 open positions to fill and not enough applicants to do so.
The industry will have over 200,000 open positions to fill and not enough applicants to do so.
Yet many in the industry are beginning to see the value in engaging the services of remote workers to fill those staffing gaps. While there may not be an influx of new talent into the industry, there certainly is a wealth of talent that’s about to walk out the door.
That’s why a number of companies are re-engaging their retiring employees in work-from-home positions. Veteran employees may not be ready, or willing, to leave the workforce, but they’re looking to transition into retirement while still being able to contribute.
Why should you hire a veteran remote worker?
The reasons are myriad:
- Right-fit talent: By hiring a remote worker, you can select from a wide pool of candidates, no matter where they’re located. Finding exactly the skills you need is easier.
- Decades of expertise: A veteran employee comes with both talent and soft skills learned from a career in the industry.
- Focused output: You can specify what type of work your remote worker will do. That frees up your in-house staff to work on more customer-facing initiatives.
- Engaged employees: Retiring workers are there because they want to be. Sick days are reduced or eliminated, deadlines are met, and your remote worker needs little oversight.
- Cost: Veteran employees working from home come with no overhead and no need for benefits.
- Productivity: A Stanford/Ctrip study shows remote workers to be 13% more productive than on-site workers, working 9.5% longer than those based in the office.
Veteran workers too are benefitting from a phased-in retirement in a work-from-home position. Those benefits include:
- Better work/life balance
- Supplemental income
- The ability to continue contributing
- Work hours that fit within their desired schedules
- Remaining engaged and active without the commute
The insurance industry would do well to consider the value a veteran worker re-engaged in a work-from-home position can offer. The bang for the buck in terms of talent and knowledge make veteran workers an excellent solution to any staffing need.
Ready to learn more about how a veteran remote worker might solve your staffing needs? Are you a veteran insurance professional looking to pre-tire in a remote position?
Contact WAHVE Today
ABOUT THE AUTHOR
Sharon Emek, Ph.D., CIC, is founder and CEO of Work At Home Vintage Experts (WAHVE). WHAVE is a unique contract staffing talent solution that brings companies and pretiring professionals together across the country to meet their work needs, full-time or part-time. WAHVE’s areas of specialty are insurance and accounting. Companies get the right matched talent and vintage experts get to extend their careers working from home.