I just returned from IIABNYs NeXt Generation Insurance Professionals Annual Statewide Convention in Saratoga Springs. Being around so many young insurance professionals got me thinking about our industry and what it will be like in the next five or ten years. Several issues came to me immediately.

As I talk to various agents around the state, one item that comes up frequently is how hard it is to find new employees and to get them the training they need. If we are having a problem now filling the positions that exist, what will it be like in five or ten years as the baby boomers that currently are very active in our business start to retire and the pool of potential new hires shrinks dramatically? You can be sure of one thing " the competition for new employees is going to get worse.

Even if you are lucky enough to identify and motivate young people to join your business, you still will have the issue of getting them properly trained. What are the skill sets these new employees will need? Technology will continue to impact and change the way we do business and you can be sure that will involve significant training of both your existing staff and your new hires. How will the products we offer change as society changes and new issues arise requiring coverage? As consumers demand 24/7 sales and service, will individual agencies operate as they do today or will the traditional insurance agency change?

As you review the potential problems and issues looming on the horizon one thing becomes immediately clear: Those agencies that address this problem now and put in place the necessary planning to attract and train new employees will be the ultimate winners.

Agencies need to set in place plans to develop the young insurance professionals on their existing staff. They need to make sure their agency has well documented workflows for the various sales and service procedures they follow. Additionally, they need to create an internal orientation and training program that allows them to train new as well as existing staff on these workflows and procedures. It is important that agencies evaluate each of their existing employees to determine where they are in their professional development and then work out a plan to offer them training in the areas where they need it. For their young producers and sales staff, they may even want to institute a mentoring program where they are matched up with a very experienced person in the agency who can provide them with information and support that will help them to reach their goals.

They also need to be looking for creative ways to identify and encourage young people entering the job market to join their agency. Remember, independent agencies, as well as the rest of the employers out there, will have an increasing need for new employees and a shrinking pool of candidates to fill those openings. The competition for new employees will be fierce. Thats why agents and brokers need to start planning now on how they will be attracting these new employees and then properly training them to make them as effective and successful as possible.

As IIABNY member advocate and assistant vice president of member programs, Jamie Deapo acts as communicator between agent, company, and trade association. His 15 years of experience as an independent agent coupled with a background in underwriting and marketing for insurance companies has given him a well-rounded perspective. A daily dose of conversation with independent agents from every corner of New York helps him understand the issues and concerns of the day. Deapo is also the outspoken voice on IIABNYs Word on the Street Podcast. Listen to these candid conversations at www.iiabny.org, by clicking on the News link on the left-hand side of the homepage, then Newsletters and Publications and Word on the Street Podcast.