In a labor shortage in which insurers already struggled to hire, they are broadening benefits.
GEICO insurance has been including itself among the insurers working hard to boost their appeal as employers in a hiring environment that is highly competitive.
Insurers were already struggling to appeal to new applicants before the labor shortage began.
Over the last several months, GEICO insurance has been evolving and expanding the types of benefits available to its agents and other employees. Now it has rolled out a new education and growth benefit that is available nationwide every one of its more than 40,000 associates.
The GEICO Strive benefit provides the company’s associates with access to over 220 schools and other education providers. In this way, they can learn through classes, degrees, and certification programs as well as obtain career guidance and education counselling. The program involves partnerships with leading universities and colleges across the country. It offers online, in-person and hybrid classroom options. The benefit includes exclusive tuition discounts as well as other forms of savings.
The GEICO insurance education benefit pre-pays tuitions and fees so that reimbursement isn’t necessary.
Though it is mainly associates who will benefit from the education benefit, certain education partners have also agreed to extend select program discounts to immediate members of the associates’ families as well.
“GEICO is thrilled to launch this new benefit. We have always invested in associates’ education and growth—we’re now taking an already great benefit to a higher level,” said the insurer’s Assistant Vice President Marouf Ahmed in a recent news release from the company. “With increased starting salaries, our highly competitive benefits, streamlined hiring processes, and new hybrid work schedule, it’s never been simpler to change careers and join the GEICO team.”
The new education benefit is only one of many employment advantages it has rolled out recently in the hopes of appealing to applicants and reducing turnover. For instance, the insurer also recently rolled out a new hybrid work schedule that makes it possible for some associates to work from home for three to five days per week once their orientation is completed.
GEICO insurance also recently raised its starting salaries for a spectrum of different positions from sales to service and claims, across many of its regions.