As the country's population grows more diverse, large corporations know they must have a workforce that reflects that diversity. In an effort to meet that goal, insurance carriers, like Prudential and MetLife, are going back to college to scout and hire qualified candidates.
Since 2007, Prudential has partnered with Hampton University in Hampton, Va., on a business case competition. From that collaboration, Prudential has made eight hires from the university since 2008, according to Toni McDaniel, director of diversity recruiting for Prudential in Newark.
The firm has also launched an actuarial program in conjunction with Atlanta's Spelman College. "We're really excited about that because it's a field where you don't find many diverse individuals," McDaniel says. (Both Hampton and Spelman, a women's college, are considered HBCUs, or historically black colleges and universities.)
In its college recruitment efforts, Prudential has shifted its approach a bit. Instead of targeting juniors and seniors for internships (and possible full-time future employment), it wants to tap students earlier in their college careers.
"We are actually starting to bring them onboard as freshman and sophomores," McDaniel says. "We want to get Prudential out there to younger, diverse individuals so when it does come time for them to accept a full-time position they will consider us."
Likewise, MetLife takes the college route in recruitment. Michael Vietri, executive vice president, individual distribution, for MetLife in New York City, says the firm has partnered with the American College to produce an annual Conference for African-American Financial Professionals, now in its sixth year.
"Six years ago, we had about 45 or 50 people there. This year we had close to 400," Vietri says.
Similar to Prudential, MetLife runs an internship program with the American College as well as Clark Atlanta University, a historically black college in Atlanta.
Multi-pronged approach
Beyond college campuses, Prudential and MetLife employ a multi-pronged approach to building a diverse workforce. Both have partnered with African-American professional organizations, such as the National Association of Black Accountants and the National Black MBA Association.
Prudential is present at job fairs and has used social media in its recruitment efforts as well.
MetLife, according to Vietri, also works closely with the Urban League and other community-based organizations. "As a company, that gives us an honest recruiting advantage," he says.
