Changing Insurance Series

The Changing Face of Insurance: Career Management for GenXers and Millennials
Contributed by Martin E. Murphy, CPCU

In our last installment of The Changing Face of Insurance, we discussed career management for baby boomers and traditionalists. If you are one of the younger members of the workforce, you realize that at this point in your life, your career goals and obstacles are much different than those of the older generations. However, you too require a career management plan that is tailored to your specific needs.

Your professional goals may include launching your career (millennials) or moving into management and executive-level positions (GenXers), while balancing your work life with your personal life. Like your more experienced colleagues, you need to develop and continually update a multi-step plan for career management. However, because of your age and experience levels, you may have other challenges with which to contend.

1. Understand how you are perceived by the older generations.

Unfortunately, as a younger member of the workforce, you have several barriers to break through as you climb the career ladder. You must not only prove your experience and abilities, but also overcome any unfair stereotypes associated with your generation. By understanding what you are working against, you can create an action plan to break through the stereotypes.

How is your generation perceived?

GenXers (born 1964-1976)

Members of Generation X have no loyalty to their employers. Show your employer that you care about your company and your work. In interviews, make sure you have plausible reasons prepared for why you left a particular position and demonstrate your desire to grow within one company.

GenXers only cares about themselves and are not team players. Evaluate your ability to work with others. Are you able to accept others' opinions in a positive way? Take some time to focus on this aspect of your work life and appreciate the collaborative results you achieve by working in a group setting.

Members of Generation X are slackers and whiners. Instead of complaining, turn those ideas into constructive suggestions for improvement.

GenXers are cynical towards their jobs. Put a filter on your sarcasm and negative comments. Your positive mindset will be outwardly reflected.

Generation Y/Millennials (born 1977-1995)

Millennials are unable to accept failure. Recognize that unless you fail, you won't be successful. Don't feel defeated or make excuses for why something didn't work out. Accept that you failed, learn from it and move on.

Generation Y is full of job-hoppers. Emphasize that you are now ready to settle down and grow with one company. You've been taught not to put up with less than you deserve. However, in entry or lower-level positions, you do have to work your way up the ladder. Working hard in a not-so-great position might eventually land you your dream job.

Millennials are attention-seekers who constantly need praise. Understand that for baby boomers and traditionalists, no news is often good news. If your manager has not given you feedback for a project, it is probably a good sign. While it is great to be rewarded for a job well-done, don't expect to be patted on the back every step of the way.

Millennials have a sense of entitlement. Show your employer or potential employer that you are ready and willing to work hard. Younger generations have a reputation for expecting success rather than working for it.

2. Now that you have the power to break through the barriers put upon you by the older generations, recognize how you can rise to the top in your career.

Brand yourself.
You are your brand. Your personal brand is your opportunity to make a name for yourself that distinguishes you from all of the other young employees. Your personal brand should make others aware of your character, strengths and personality. Additionally, your personal brand will be a force that influences the decisions, attitudes and actions of others. Make sure that your personal brand is genuine and accurately displays who you are and what you stand for. Don't try to play a role - hiring managers can see right through it.

Create a 30-second introduction.
Imagine you are stuck in an elevator with the human resources director of your dream job. He or she asks what you do for a living. What do you say? While this is an extreme situation, too often young professionals are caught off guard with that very simple question. Having a 30-second commercial or "elevator speech" will ensure that you are prepared when someone asks what you are all about. Script your 30-second introduction, and tailor it for every audience you may encounter. Run it by a few trusted individuals to make sure it will leave your contacts with the right message.

Pump up your resume.
The main purpose of a resume is to convey who you are, what you have done and the value you bring to the table. Therefore, you want your resume to leave a positive first impression, command attention and intrigue the reader into wanting more. If you are a member of Gen Y, you may not have a lot of work experience. Make up for this by listing related experiences and responsibilities. Demonstrate that your strengths and accomplishments are transferable to the position and the company - but don't exaggerate your past position! What is the next step after you create the perfect resume? Revise, revise, revise!

Prepare for the interview.
As prepared as you may be to talk about yourself and your accomplishments, keep one question in mind: what are employers looking for? It's not as complicated as you might think. Employers are asking themselves three things: 1) Can you do the job? 2) Will you do the job? 3) Do we like you?

Prior to the interview, run through this quick check-list:

Research both the company and its industry.

Be up-to-date on current events.

Be prepared to answer behavioral interview question with examples.

Know your strengths, weaknesses and accomplishments.

Know your resume and how your skills apply to the particular position.

Remember that qualifications are most important, but don't neglect the importance of personality and corporate fit. When you are responding to interview questions, it's okay to take a moment to compose an answer. When you do answer the question, relate what you did in the past to the new position. Give concrete examples, and respond with simple, on-point answers. Don't talk negatively about your current or past companies and managers. This is your time to sell yourself. It may feel awkward, but if you don't tell the interviewer why you are qualified for the position, who will?

After your interview, make sure to thank the interviewer. Be proactive and ask what the next steps are in the application process, as well as for his/her business card. If the selection process is in the final stages and you know a thank you card might not arrive in time by mail, write a thank you email directly following the interview.

3. Reevaluate your career goals as necessary.

It's likely that your career goals will change from month to month. Take some time at the beginning of each month to re-evaluate your goals. Add new accomplishments to your success stories journal. Update your resume and conduct a quick job search. At the beginning of each year, do a full-fledged personal assessment and realign your goals as appropriate.