NIBA / Special Feature
Should I stay or should I go? Of course, getting people into the sector is one thing – creating an environment in which they want to stay is another altogether. Shanks says the retention conversation is just as important as the one about attraction – and in many ways the two are inextricably linked.
BROKERS BY AGE
30% 35% 25% 20% 15% 10%
31%
28%
19%
11%
11%
“People stay where they can see a future,” she says.
5% 0%
18-29 30-39 40-49 50-59 60+ Age
“That means clear career pathways, access to learning, supportive managers and a workplace culture that treats development as a shared responsibility rather than an individual burden. In a profession like broking, retention is also strongly tied to whether people feel their work is meaningful and whether they are trusted to grow. “From ANZIIF’s perspective, professional development has a central role to play here. When people can build capability in a structured way, gain recognition for that growth, and connect learning to career progression, they are more likely to remain engaged. Mentoring is another important piece, particularly in a profession where so much value sits in experience. “The best retention strategies are often not flashy. They are practical: good leadership, investment in capability, flexibility, and a clear sense that people are building a career, not just doing a job.” Tackling the perception problem A perennial problem for the industry has been perception. Insurance can occasionally be the butt of jokes, sometimes used as an example of a dull desk job, and consequently maybe not seen as a ‘cool’ career to aspire to. Media coverage of the sector too is often negative – creating a perception problem. “The media is always quick to jump on the insurance industry, and it’s an easy target at times,” says Francis. “The ‘risk’ side of things is perhaps more enticing, and it’s interesting to see many brokers now
BROKERS BY EDUCATION LEVEL
30% 35% 25% 20%
31%
23%
19%
15%
15% 10%
10%
5% 0%
Year 12 or below
Certificate III/IV
Qualification Diploma or Advanced Diploma
Bachelor degree
Post Graduate
27% Part-time share
47% Female share
44 Median age
positioning themselves as risk advisors to their clients. I think that’s such an opportunity to focus on the risk aspect, helping businesses and clients mitigate risks, fighting to get better outcomes for clients every day, rather than just placing insurance – then it potentially becomes more appealing.” What’s certain, however it’s positioned, is that insurance offers an incredibly rewarding, stable career path that
positively impacts the community, the nation and the world.
By telling the stories of individuals who’ve achieved great things, and how insurance has helped mitigate risks, protect valuable assets and the role it’s played in recovery after significant events, we can build a stronger sense of purpose, impact and meaning – which is essential to attract younger people into a world you often only truly appreciate once you’re on the inside.
44 / INSURANCE ADVISER JUNE/JULY 2026
Made with FlippingBook Digital Publishing Software