Starting September 12, insurance firm Zurich UK will adopt a new hiring process. The firm explained that they are scrapping their competency-based interviews in favor of strength-based assessments.
This ensures that candidates will be evaluated thoroughly despite their race, age, college or university, and background.
Additionally, the firm promised to help identify candidates who may not match the criteria for one role but may be better suited for another area of the company.
Through a new online assessment portion — developed by Zurich UK and HR tech company Cappfinity — candidates will be offered a “realistic insight” into what it is like to work within Zurich and the greater insurance industry.
Moreover, Zurich will also ensure that each applicant, whether successful or not, receives detailed feedback to help them on their career journey. The company is also doing away with group interviews from its recruitment process to support neurodiverse applicants.
Zurich head of talent acquisition Michelle Ransome said, “We really want to create a level-playing field for all graduates to ensure we genuinely attract the best person for every role.”
According to the insurer, the lack of internships and work placements during the pandemic left graduates with less real-world experience than previous generations.
“Candidates from disadvantaged backgrounds, as well as recent graduates hit by lockdown, may not have had the same opportunities and life experiences as others,” added Ransome.
And it does not stop there. Zurich also announced that its actuarial team is launching an industrial placement program for 2023, where five graduates will complete a year at Zurich in pricing and reserving. The insurer noted that the conversion rate from internship to the graduate scheme is an impressive 82%.
And this decision may be for the best, especially as young applicants get increasingly frustrated and anxious over their chances of securing a job due to their lack of real-world experiences.