Community participation and volunteerism remain hallmarks of the broker value proposition, but statistics suggest B.C. brokers are less community-minded now than they were over a decade ago.
Statistics from the Insurance Brokers Association of B.C. (IBABC) show that 74% of brokers in B.C. at all levels reported doing some form of volunteer work in 2009. This was well above the average Canadian volunteer rate of 45%, as reported in a 2007 Statistics Canada survey.
But it is well below the 90% volunteer commitment level that B.C. brokers reported to their provincial association in 2001.
Broker partners were three times more likely to be more politically active than their employees or mangers, IBABC president Andrew Tablotney noted of the 2009 survey.
“As the people ‘with skin in the game,’ they have a better understanding of how public policy affects the prosperity of their business,” Tablotney wrote in the February 2013 edition of the B.C. Broker. “And they have the experience and confidence to meet and present their recommendations to elected officials – something that some people can find intimidating.”
But they are also retiring soon, industry demographic research notes.
Please see 'A 2007 study' on Page 2#pb#
A 2007 study by the Insurance Institute of Canada shows that the median age of a Canadian, male full-time insurance broker was 43 and the median age of a full-time female broker was 40. What will happen when these senior, politically-committed brokers retire?
“Is the brokerage industry also facing a volunteer leadership deficit?” Tablotney asked. “As an industry, perhaps we should be looking at continuity strategies – in other words, succession not just for our businesses, but for our professional advocacy and community contributions as well.”
A May 2012 Statistics Canada study shows that volunteers who had support from their employers contributed more volunteer hours than those who didn’t have such support. Some incentives that employers used to encourage volunteerism included:
• Donations (prizes, money, or in-kind services)
• Sponsorships
• Flex-time for employees to accommodate their volunteer work
The Statistics Canada study said volunteers gained work-related skills through volunteering – such as office, managerial, communication and interpersonal skills – that helped them succeed in their workplaces.
