Broker Roundtable | Internal Training & Development

As the insurance industry evolves, investing in internal training has become a cornerstone for cultivating talent and fostering career advancement. By prioritizing employee development, brokerages are enhancing skills and nurturing a culture of growth and leadership. Two leaders of prominent brokerages share details of their training programs and mentorship initiatives, showcasing how strategic investments in staff development empowers individuals and drives organizational success.

What programs or initiatives do you have in place to help employees advance their careers?

JM: It’s vital for employees to continually expand and improve their knowledge and skills to meet the ever-changing demands of the workplace and industry. We have an education policy that supports, endorses and encourages employees to challenge themselves with life-long learning. We commit to assuming the cost of enrollment, tuition and course materials, providing paid time-off for exams and exam prep, and rewarding employees for the successful completion of designation programs. We also have robust internal training resources available to all staff so they can elect to participate in training on any topic.

RR: We’re committed to fostering talent at every level. We offer robust support for those entering the broker channel and those seeking to advance their careers. Our Tuition Reimbursement Program encourages employees to pursue industry designations. Additionally, we collaborate with individuals to assess their strengths, weaknesses, opportunities and threats, transforming these insights into tailored professional development plans that drive targeted growth.

How does your brokerage use mentorship or coaching to develop future leaders?

JM: Effective mentorship and coaching is an integral part of our internal training programs. In our Commercial Solutions Department, we partner new brokers with a more tenured broker-mentor one-to-one. The broker-in-training and their mentor work closely together on any prospective client opportunities and the management of any of the mentor’s existing client relationships. In our Personal Solutions Department, we leverage the experience of our Team Leaders to coach and mentor each of their team members. They provide more hands-on coaching and mentorship for brokers-in-training, and provide support and guidance for more experienced brokers.

RR: In addition to our Training & Development Manager and Coaches, we have a Mentorship Program that pairs new brokers with experienced brokers from different office locations. This not only guides newcomers on best practices but fosters a supportive environment, allowing mentors to share insights and celebrate successes. This two-way learning process enhances overall team performance and cohesion.

What types of training and opportunities do you offer to ensure employees have the skills they need as a broker?

JM: We follow a training roadmap for the development of our brokers by providing information about our brokerage, our processes and practices, and our products and services. Brokers-in-training would then commonly attend the RIBO licensing course offered by IBAO. When they’ve completed the course, trainees dive into internal training on our resources and systems, workflows, insurer partners and many topics in between. Through the investment of plenty of time and effort, we’ve cultivated a library of comprehensive training materials and resources, and several practiced trainers that execute our role-specific training roadmaps.

RR: We offer a range of training options in-house, from short power sessions to two-hour RIBO CE-accredited courses developed by our experts. Topics include sharing best practices, delivering exceptional client service and tackling emerging industry trends. This ensures our brokers are well-equipped with relevant skills and confidence in their abilities. We also host bi-annual half-day forums and a week-long university program for select brokers to focus on enhancing sales and service capabilities. To further enrich our training, we partner with external organizations and insurer partners to offer additional certification opportunities.

How do you identify high-potential employees who can take on leadership roles?

JM: We’re big believers in promoting from within. Whenever seeking out leaders for our organization, we always start with current employees. The leadership team is focused on staying connected to our frontline staff to be able to identify and foster the skillset of those employees that demonstrate leadership potential. We’re also in the practice of asking employees if they feel we’re utilizing their full potential. This prompts management to start discussions about future goals, interests and aptitudes, which can help us identify and foster those individuals that have potential for leadership.

RR: Through open, transparent conversations with Branch and Division Leadership, we actively seek opportunities for employees to engage in stretch projects. For example, we’ve had team members transition to roles in underwriting, specialty, training, leadership and commercial. As long as they’re McFarlan Rowlands employees, we’re committed to supporting their personal growth. This approach allows us to build a strong case for future business needs while giving employees and our brokerage a chance to explore their fit and capabilities.

How do you ensure career advancement opportunities are equitable and inclusive?

JM: Job openings and opportunities for advancement are all posted internally for staff. All applicants for a role are given fair consideration. It’s our corporate policy to ensure staff are provided with meaningful employment that’s ethical and fair, and that Staebler follows the principles of dignity, independence, integration and equal opportunity.

RR: We ensure career advancement opportunities are equitable and inclusive by implementing a transparent application process for all positions. We’re committed to internal promotions, as demonstrated by the significant portion of our leadership team who rose through the ranks. Our focus on diversity has led to significant improvements in our workforce demographics.

What strategies do you use to retain top talent and ensure they’re motivated to grow with your brokerage?

JM: We have a genuine focus on quality of life, which not only attracts top talent but keeps them engaged in their role. It resonates with our employees that we’re always working to maintain and expand on our remuneration package and the benefits of working at Staebler in an effort to support the lives of our employees and their families. It resonates with employees that we support their professional development and career advancement, that we strive to be a good corporate citizen by giving back to our community, that we’re transparent and fair in performance evaluations and we reward exceptional performance. Our strategy is to support the quality of life of our employees so they can be engaged in being great brokers.

RR: We prioritize employee retention by providing opportunities for team members to explore areas that align with their interests and strengths. For instance, we’ve successfully restructured roles for team members who weren’t thriving, allowing them to flourish in new capacities while meeting business needs. We also conduct engagement surveys at regular intervals to gather feedback and continuously refine our growth initiatives, demonstrating our commitment to employee satisfaction and development.