Attracting top-tier talent to cyber insurance
A mission statement shouldn’t just be about the business, but about people and community as well, said Jonathan Weekes, senior vice president and cyber practice Leader at HUB International, talking at Intelligent Insurer’s Cyber Risk & Insurance Innovation USA conference in Chicago.
Weekes believes cyber talent needs to be redefined to enhance expertise sustainability and said the audience should explore innovative ideas to tackle talent recruitment challenges in cyber teams, such as reconsidering job prerequisites and tapping into a wider and perhaps unconventional talent pool.
Widen the sources of talent
“We have to start looking at non-traditional places and bring in more people from tech and cyber into our industry,” Weekes stated.
“What about other potential places? Are we going to construction conferences or healthcare conferences and speaking to CISOs at these companies to bring them in to contribute to our knowledge in these spaces?”
Ensuring loyalty was another topic, together with strategies to reduce turnover and retain a solid cyber team despite intense rivalry and poaching between companies.
Weekes touched on the importance of prioritising in-house training for underwriters and brokers, and stressed that continuous learning would help avoid the depletion of internal expertise.
“Transferable skills are a great way to develop our teams, and a good way to retain them,” Weekes said. “If people feel that they’re supported, and prepared and equipped with the tools necessary to move up in their career, they will stick with us.”
He added a caveat: “One thing I do say, though, is that ‘if I pay for this, you’re sticking around for a year, and if you quit before that year, you’re paying me back’.
"We can’t be completely ridiculous, and just give them whatever they want.”
Diversity and belonging
Discussing the pivotal role of workplace diversity, Weekes identified more ways to enhance hiring: promoting exclusive recruitment practices and cultivating a sense of belonging within the organisation that inspired others to join—and remain.
“Companies say they have a diverse workforce, but what roles are you putting them in? Do you have a bunch of employees from minority groups, but they’re only in administrative roles?” Weekes questioned the audience. “That’s a diverse workforce, but it certainly isn’t inclusive.”
“Diversity, equality, inclusion and belonging should be treated as the foundation of our talent acquisition strategy, and its anchor,” he continued.
“If people feel they have a place at a company, and that they belong there, they’re going to stick around.”
Overall, the audience was urged to cultivate a robust industry ecosystem by building a resilient workforce, avoiding practices that hindered competitiveness and adopting a more inclusive and supportive culture.
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