Today's workforce spans five generations, each with distinct values and work styles. In insurance broking, a multigenerational team can drive innovation, but only if managed effectively. According to Deloitte's 2024 Global Millennial and Gen Z Survey, 53% of younger workers cite purpose-driven work and flexibility as top career motivators, while experienced Baby Boomers value stability and knowledge-sharing opportunities.

Key Challenges:

• Diverse Motivational Drivers: Career expectations and engagement priorities vary greatly across generations.
• Communication Barriers: Misalignment in communication styles between generations can create workplace friction.
• Skills and Knowledge Transfer: Ensuring the seamless exchange of expertise between senior staff and younger hires is critical for continuity.

Strategies for Success:

Immediate Actionable Points:

1. Offer Customised Benefits: Address generational needs with tailored offerings such as phased retirement, career coaching, or flexible schedules.
2. Implement Cross-Generational Mentoring: Foster an environment where knowledge is exchanged through structured mentorship programs.
3. Encourage Dialogue: Launch feedback loops (surveys, focus groups) to identify generational challenges and improve cohesion.

Long-Term Strategic Moves:

1. Personalised Development Plans: Build generational-specific learning pathways that cater to career ambitions across age groups.
2. Promote Diverse Teams: Develop cross-functional, multigenerational teams to solve complex problems and leverage unique strengths.
3. Upskill Leaders: Train managers to bridge generational gaps effectively by understanding varied expectations and work styles.

Summary of Advice:

To effectively bridge generational gaps in insurance recruitment, prioritise tailored approaches that address the needs of each age group. Implement customised benefits, mentorship programs, and communication channels to improve cohesion and knowledge transfer. In the long term, focus on personalised development plans, promoting diverse teams, and training leaders to manage multigenerational dynamics successfully. By fostering collaboration and understanding, you can create a more innovative and cohesive workplace.

To discuss strategies on how best to achieve the above, please reach out to your Cavendish Maine consultant, who would be delighted to talk through the various ways these can be achieved.