The November 2022 edition of Captive Insurance Times featured an article that addressed the need for young talent in the captive industry entitled “Circumventing the Void: How Can the Captive Industry Attract New Blood?”
In the article, Captive Resources’ Chief Executive Officer, Nick Hentges, offered his insights on the topic. According to Hentges, the “talent drought” described is more of a marketing issue. He explained what organizations like the Captive Insurance Companies Association (CICA) are already doing to address the issue with initiatives like NEXTGen and Amplify Women.
To hear more insights from Hentges on the topic, download the PDF below or click on this link to visit the Captive Insurance Times website to read the full article.
So how much of this is really a talent ‘crisis’ or ‘drought’? Or is it rather the case that the captive insurance industry needs to do more to attract the young talent that surely exists? Nick Hentges, CEO of Captive Resources, says yes. “I disagree with the premise that there is a talent drought,” he says.
“The captive industry needs to do a better job of marketing itself and competing for the best talent. If you have a good product or service and build a great culture, you will attract talent.”
Hentges says that Captive Resources spends a “tremendous” amount of time planning for transition well in advance — attracting, hiring, and training new talent. Importantly, Hentges says that the company provides new talent with opportunities to develop, grow, and evolve.
“The best way to not have a hiring crisis is by keeping the colleagues you have hired happy, challenged and fulfilled.”