A host of questions, plan comparisons, and customers scrambling to make sense of their options can only mean one thing — open enrollment season. For companies handling these inquiries, having the right team in place can make all the difference. At Randstad, we get that your agents are the face of this process, and you need people who handle the volume and know their stuff.
In the race to get the best to support your customer's questions, you need the right hiring strategy to secure the talent you need. Various skills and certifications can influence your choice, but they also have a big impact on your talent search. Whether or not you hire licensed or unlicensed agents is one decision that will guide your strategy.
the benefits of a license
Open enrollment is crunch time for insurance providers and their clients. Customers across the nation are making choices for their healthcare, and it is essential for companies to have suitable agents on board to guide customers through their options.
Customers don't just want someone to read from a script. They want personalized and specific answers. When a customer has questions about switching from a high-deductible plan to a more comprehensive one, an unlicensed agent can offer basic information. However, a licensed agent is trained to talk specifics, make recommendations, and guide customers through coverage details, like how each option aligns with the customer's healthcare needs, lifestyle, and budget.
but there’s a catch
Licensed agents have done the work, passed the tests, and earned the legal green light to discuss and sell insurance. They can also reduce compliance risks for businesses and help build customer trust. Because of this, they can be much harder to source in today’s competitive market especially during the busy season.
With over 10,000 employers competing for talent, many companies find it hard to attract qualified candidates. The challenge lies in the number of candidates available for unlicensed positions — over 2.9 million unlicensed agents are competing for jobs. This saturation means that despite a large talent pool, it is essential to identify high-quality candidates who can provide exceptional customer service. The strict licensing process can also make potential applicants think twice about applying. Strong hiring practices like skills assessments and cultural fit evaluations can significantly improve your selection process.
market snapshot
Understanding the current job market is essential for making informed hiring decisions. Here's a snapshot of the landscape:
These statistics indicate that while licensed positions are projected to grow faster, the competition remains high for licensed and unlicensed roles.
trends impacting hiring
Several trends are influencing the hiring landscape for both licensed and unlicensed agents:
licensed agents
With over 10,000 employers competing for licensed talent, companies must adopt innovative recruiting strategies to stand out. More hires than job postings suggest that many positions are filled through promotions and upskilling, highlighting the importance of developing internal talent.
unlicensed agents
The competition in the unlicensed space is equally fierce, with over 81,000 employers looking to fill these roles. To fill these positions quickly, organizations resort to rushed hiring methods that could result in onboarding poor, unlicensed agents who fail to deliver quality service.
Successful agents — whether licensed or unlicensed — possess specific skills that set them apart:
licensed agents
- insurance policies
- insurance license
- life insurance sales
- marketing
- billing
unlicensed agents
- customer support
- outbound calls
- teamwork and collaboration
- customer relationship management
- billing
Recognizing and cultivating these skills during hiring can help organizations build a more effective workforce.
strategize for the strongest team
Because of the high demand for licensed agents, determining your organization's needs is essential when deciding between licensed and unlicensed agents. By closely managing where you need added support, you can build the most cost-effective team.
Even with a strategic hiring plan in place, you may still struggle to fill your open positions in a competitive job market. Below are some ways you can enhance your hiring process and attract qualified licensed agents:
examine compensation
Competitive salaries go a long way in attracting top talent, so look closely at your current compensation packages. How do they compare to industry standards? Keep pace with market rates to show potential hires that you value their skills and contributions. After all, attracting great people is more than just the numbers; it's about conveying that you value what they bring to the team.
offer better benefits
Offer unique or enhanced benefits that stand out in the job market, such as flexible work hours, wellness programs, professional development opportunities, or student loan repayment assistance. Beyond salary, benefits play a significant role in attracting and retaining talent.
embrace remote work opportunities
Though the pandemic is long gone, the demand for remote work continues to grow. Offering flexible work arrangements can make your organization more appealing to potential hires. By offering remote positions, you can expand your talent pool beyond geographical limitations.
adopt a skills-based hiring approach
Adopt a skills-based hiring approach. This allows you to focus on the specific competencies required for the role rather than solely on qualifications. This strategy opens up your candidate pool and can help you identify potential talent who may excel in the role with proper training.
upskill unlicensed workers
Invest in your current unlicensed workforce by sponsoring their licensing requirements. Upskilling unlicensed agents can help fill gaps in your organization while demonstrating your commitment to employee development, and it provides a larger talent pool to choose from. Providing support for licensing improves your talent pipeline and enhances employee loyalty and retention.
work with a staffing partner
If you are still struggling to quickly hire the staff you need, it may be time to turn to the experts. Because hiring is their specialty, staffing vendors like Randstad often have access to the latest technology and workforce management tools to expedite your search. Not only that, they have deep knowledge of local market conditions and a nationwide network of talent ready to activate whenever you need.
key takeaways
A strong employer brand, competitive compensation, and innovative hiring practices can help navigate this competitive landscape. By implementing these practices, you can build a skilled workforce capable of providing exceptional customer service during the open enrollment period and beyond.