Sometimes we observe a workplace has around four generations of employees working under the same roof. It may comprise the silent goers, baby boomers, generation x and the millennials. In such a situation, it needs to be remembered that each generation has a unique characteristic, experience and strength that it imparts to the organization. These skills can be honed via a mentoring program within the organization. At present there is a great demand for mentoring programs with more than 75% of the fortune 500 companies implementing them for employee career development, knowledge sharing, diversified training and reverse mentoring.
Here is a look at how a mentoring program can be beneficial for an insurance agency:
Firstly, development of leadership can be initiated with the help of a mentoring program wherein one can consider a coaching approach in lieu of the regular formal classes and consecutive training, pairing senior leadership with the mentee. This will enable the older generation in the organization, who are in the leadership position to pass on the baton to the next generation, while they set their sight on retiring and sustained growth.
The successors have a lot to learn from the older generation as they prepare to pass on their paramount knowledge, skills and experience in the insurance field. These are crucial and invaluable resources required for filling in the succession plans and talent gaps in the insurance industry. The bottom line here is to set the stage for the millennials to make them understand the effects of insurance and risk management in a business.
Finally, assisting the senior executives with the help of mentoring programs to stay updated with the latest business technology and insurance process outsourcing trends can enable the senior employees to see the bigger picture of how technology can be the driving force behind the agency’s operations as well it client services and marketing management.
Mentoring programs have the ability to empower the employees of an organization as a critical aspect and strengthening their work connections as well as cooperation.