Luke joined RWA from July 2022 - July 2023. He has 10 years of graphic design experience creating marketing material and 7 years of direct marketing experience, most recently working as a freelance social media marketing manager. Luke’s role at RWA involved overseeing RWA's social media channels and assisting with the creation of e-learning and blog content.
Can Neurodiversity Give Your Insurance Firm a Competitive Advantage?
The term “neurodivergent” describes people whose brain processes, learns, and/or behaves differently from what is considered ‘typical’. Neurodivergent can include a wide range of conditions, such as autism, dyslexia, ADHD, anxiety, bipolar disorder, and many more.
It is estimated that 15%-20% of the world’s population is neurodivergent in some way, and neurodivergecy remains a largely untapped talent pool. However, businesses are starting to realise the benefits neurodiverse employees can bring. Between March 2021 and 2022, Google search results for ‘Neurodiversity at work’ increased by 120%.
Companies such as Microsoft and Google have been running neurodiversity hiring programs to take advantage of the unique skills and strengths neurodiverse employees can provide.
5 benefits of hiring neurodiverse staff
- Problem-solving
Employees who are neurodiverse think differently. They can receive, process and interpret information in a different manner and can approach problems and opportunities in ways others may not. Neurodiverse people often have higher levels of attention to detail which may result in these employees making fewer mistakes than their neurotypical counterparts, and is one of the many traits that makes neurodiverse employees valuable team members.
- Unique perspectives
Neurodiverse individuals often excel at certain tasks such as writing, data analytics, IT, and pattern recognition. If fostered, these employees can bring a different perspective to the workplace which can lead to innovation.
- Higher retention rates
If neurodivergent employees feel welcomed and included in their workplace, they are more likely to stay in their job. Autistic employees have a retention rate upward of 90%. Recruitment can be expensive and staff turnover can dramatically impact productivity. Goldman Sachs recently announced a neurodiversity hiring initiative, naming the ‘often higher retention rates’ as a key benefit.
- Improved company culture
It is a common misconception that autistic people are anti-social. Neurodiverse employees often find it easier to empathise and accept others' differences which allows them to fit into different environments. Employees who feel comfortable and supported in the workplace are also, often more productive.
- Company image
Developing a neurodiverse workforce can improve how an insurance firm is viewed in the eyes of its customers. Customers are 4 times more likely to purchase from a company if they believe the brand has a strong purpose and customer trust is a particularly important decision-making factor in insurance.
In next week's article, we will explain how insurance firms can make a neurodivergent-friendly environment. To make sure you don't miss it, sign up for the newsletter below and receive 3 high-quality articles directly to your inbox.