Innovation Project Summary Cookhouse LabS
The urgent need to attract and retain young talent
Millennials are not interested in a career in insurance… so how do we #BridgeTheGap and make insurance more attractive to this generation?
Understand why Millennials have such a negative perception of the insurance industry and what we as an industry have to start doing to become appealing to young talent.
Understanding millennials’ concerns about work in the insurance industry
SAY & DO
THINK & FEEL
Exploring the thoughts and emotions of young people when it came to job search methods, desired benefits, and office culture expectations.
We are not doing enough to invest in attracting and retaining young talent.
The focus of our sprint became: How might we create a culture of collaboration and inclusiveness that fosters security and growth that will help attract, retain and make young talent feel valued.
Our team ideated 59 different ways to #BridgeTheGap in 5 minutes and voted on a single idea to develop and test.
NEXTGEN DISCOVERY PROGRAM
The solution is based on a 5-month program designed to attract and retain young talent by engaging the young hires from day one and inviting them to work with other departments in the organization. Students will be recruited from non-traditional programs of study as well, including Arts and Geography, and will be paired with Mentors through a matching process. Young talent will select 5 areas of interest to rotate through during the program. At the end, the employees will provide feedback on the department that they are most interested in working at.
The employees’ experience will be overseen by a dedicated Advisor (guidance counselor) who will meet regularly with the young talent. The program will work to retain young hires beyond the average 2-year job stay.
More Co-creation Sprints
We also offer intro sessions that provide insurance professionals with the opportunity to experience our Cookhouse Labs methodology and a sneak peek at what it’s like to co-create and collaborate with our global community. If you are not a Cookhouse Labs member and are interested in finding out more, check out our membership benefits!