The COVID-19 pandemic, unstable market, and other factors have made it more challenging for hiring managers to attract and retain talent – especially for small businesses seeking to increase their headcount while remaining resilient against whatever challenges are thrown at them.
However, this year's Insurance Business Australia (IB) top insurance employers showed that even small companies can provide benefits, compensation, and other features that attract and retain the best talent in the industry.
IQumulate Premium Funding (IQumulate) and GSA Insurance Brokers (GSA) are some of the businesses with 99 or fewer employees that made it to this year's list. So, what's their secret?
The IB team found that IQumulate deals with significant economic changes and instability locally and globally by enhancing its services, support, and product development to remain agile and adaptable. It also strives to differentiate its offering from competitors by improving efficiencies in service, delivery, and technology efforts.
When it comes to taking care of its people, diversity, and inclusion of women in leadership positions reflect the company's commitment to a fair and well-thought-out approach to its professional development beyond traditional roles. For example, IQumulate's head of sales for AU and NZ Elizabeth Lawry and head of operations Tricia Kopka hold long-standing positions in the company and occupy integral roles in strategic business decision-making and planning.
IQumulate also invests in education and people to attract and retain clients and the right talent.
“Through the ongoing pandemic challenges, IQumulate aspires to cultivate a great work culture with its hybrid office model, which aligns the needs of employees with the needs of the business,” the IB team found. “Active engagement and education opportunities for valued broker networks also ensure that IQumulate provides the best finance solutions and accreditation for brokers while supporting clients' business strategies and growth initiatives now and in the future.”
Meanwhile, GSA stood out among small insurance companies due to its ethos: encouraging personal and professional development and investing in talent.
“Staff training and development (including coaching and mentoring) is an important part of the company's benefits offering. GSA's culture and values shape the organisation, and the quality of its people enables the company to thrive,” GSA told IB.
Find out more about small insurance businesses that made it to this year's list and the rest of the winners by reading the IB Top Insurance Employers 2022 report.
