We've all heard the age-old adage, "innovate or die."

In today's rapidly changing and evolving business world,innovation and creativity have become anindustry mandate. Insurers are facing a new reality, driven byemerging disruption, rapidly changing technology risks, anever-shifting web of compliance demands, continued globalizationand evolving marketplace conditions.

Faced with increased pressure to innovate, create and adapt, theinsurance industry is tasked with embracing a mindset of constantevolution. However, creating an organizational culture that fosterscreative thoughts, cultivates fresh ideas and quickly adapts toindustry changes can be challenging. The first, and arguably mostimportant step, is to fill the professional ranks with individualswho are highly innovative and creative. Finding talent with the critical skills neededto thrive in a rapidly evolving industry requires insurers torethink their current recruitment and engagement strategies.

Build a culture of innovation

Attracting and retaining inventive thinkers requiresorganizations to develop a company culture that promotes andembraces innovation. One key to creating the right environment isto highlight your organization's acceptance of new thoughts andideas. Consider introducing "unstructured" time for employees toinnovate and create. Solicit feedback and insights from allemployees on crucial business concerns. Embrace and celebratebrainstorming and idea sharing. Promote an "open door" policy foremployees to share their ideas with management — no idea is too bigor too small. Put a process or program in place for ideasubmissions and make sure to follow-up and follow-through.

Companies may also want to look at developing more formalinnovation programs. This can include internal award or recognitionprograms focused on innovation. Encourage employees to submit theirideas for new products and improved processes. Top submissionsshould be rewarded and forward-thinking ideas instituted throughoutthe organization. This system of public recognition shows thatorganizations value the ideas and input from their employees, andwelcome professionals with creative ideas. In addition, they go along way towards highlighting a company that "walks the innovativetalk."

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Employers must rethink their traditional recruitment methodswhen it comes to hiring technology-savvy workers. (Photo:Shutterstock)

Be a thought leader

Creative professionals want to work at organizations on thefront-line of emerging trends. Insurers should work to position themselves asthought leaders and innovators. This is a critical part of settingyour organization apart from the competition.

Encourage staff to attend conferences and forums focused oninnovation and industry changes. Provide speakers at local andnational events who can discuss the ways your company is drivingand championing innovation.

The company may want to consider hosting local events includinglunch and learns, TEDx-type forums and interactive sessions. Targetpotential candidates by presenting information and topics thatalign with their interests. Invite employees to share theinnovative projects they are working on or provide insights intodeveloping programs. Make sure to invite members of the public,professional organizations and even local students. Companyrecruiters should be on hand to connect with potential prospectsand network with attendees.

Embrace positive publicity

In order to find innovative and adaptable talent, insurers needto establish themselves as forward-thinking competitors. One way tostand out is to ensure you are promoting your wins and making yourorganization's innovative programs front and center.

Company web pages and social media are great platforms to highlightyour organization's work. Many of today's forward-thinking,progressive individuals are highly active on social media and viewit as an integral part of the job search process. Insurers who failto engage in social media are falling behind the front runners inthe race for talent. It is important to note that social networkscannot be static—your social media presence needs to be up-to-date,engaging and interactive. Make sure to highlight your work oncutting-edge and creative projects. Provide details on recentactivities and include employee testimonials to broaden yourexposure and provide real-life insights.

Build career interest around the advancements your company isinvolved with. Publicize recent projects and business developments.Share accolades and successes. Make sure to highlight examples ofinnovative ideas your organization is undertaking. Developing adigital presence focused on embracing new tech and ideas will helpto build your organization's reputation as an innovator andincrease interest among today's top talent.

Innovative companies looking for non-traditional employeesutilize unique strategies. (Photo: Shutterstock)

Rethink traditional recruitment

Today's organizations need to get creative with their recruitingstrategies in order to find success. Gone are the days ofsuccessful recruitment using traditional, passive practices.

Company representatives need to go where professionals are. Bestrategic about attending conferences and conventions that alignwith your focus and provide you with an opportunity to network.These events provide unique opportunities to connect with newprospects.

Organizations may also want to consider inviting potentialtalent to participate in hosted case competitions. Designed toencourage out-of-the-box thinking, case competitions are a uniqueway to interact with and recruit creative, innovative and talentedbusiness professionals.

Case competitions focus on an organizational business problemthat needs to be solved. Companies present their issue, market tothe community and invite attendees to present their solutions.Individuals and groups are provided the opportunity to showcasetheir recommendations in a structured format that serves as a sortof "informal" interview. Companies utilizing this solution havehired entire teams of competitors based on their presentations.This practice serves as a unique and creative way to bring in greattalent that your organization may have overlooked in itsrecruitment search.

Insurers may also want to revisit their referral programs tohelp find potential candidates. Nearly 50% of organizations now report employee referrals as their topsource of quality hires. Current employees have a unique insightinto your organization that enables them to pinpoint talent thatwill fit within your company culture. They serve as an endorsementof your organization as an employer. Referrals have also been shownto result in employees who are faster to hire, perform better andhave lower turnover — resulting in increased efficiency andproductivity.

Cutting-edge insurance organizations understand that innovationis the key to success in today's rapidly evolving business world.At the forefront of this movement is the need for talented,creative employees. Regardless of the strategy or tactic,recruiting and engaging adaptable and innovative professionals willbe vital to staying competitive in today's market.

Oyauma Garrison ([email protected])is senior vice president of The Jacobson Group, a leading globalprovider of talent to the insurance industry.

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