The Placement Scheme
The Lloyd’s ex-military placement scheme offers veterans the opportunity of a work placement in the most advanced insurance market in the world. The placement has two objectives: firstly, to bridge the knowledge and experience gap of candidates by providing access to on-the-job training and a route to possible employment opportunities in the firms looking to hire.
Secondly, we actively engage with hiring managers in the market to discuss the benefits of recruiting ex – military talent whilst addressing any perceptions or perceived limitations of military personnel. Success against these objectives allows us to achieve our goal of identifying and curating tailored opportunities for ex-military to find employment in the London and wider insurance market.
What’s in it for me?
The scheme has been running for over five years and during that period we have had an 80-90% success rate in candidates on the scheme securing roles in the industry. This is directly as a result of individuals being able to showcase the skills that they bring to prospective employees.
The scheme normally runs over eight weeks with all participants starting on the same date. Participants will be placed in either one company for the full duration, or two different companies for four weeks each; this will depend on the firm’s availability and prospective opportunities. Where possible, we will try and align individuals to placements that match where they want to be (i.e. project managers into project management roles) but this may not always be possible as we appreciate that many applicants might not know where they see themselves fitting, and the opportunities may not map across. If you have a particular interest, please indicate this on the application form.
What’s in it for hosting companies?
In the time that we have been running the placement scheme, over 100 veterans have been employed across the insurance industry into roles where they might not have necessarily been considered for. These individuals have demonstrated the skills and attributes that veterans bring to prospective employers over a relatively short placement and have gone onto to succeed in the industry across a wide variety of roles. Candidates are extremely self-sufficient, proactive and keen to be adding value from the very beginning of a placement; they will be able to hit the ground running with minimal support and many candidates have picked up complex projects during their placements.
Advantages of Employing Veterans
1. Quick Learners: Service leavers have the proven ability to learn new skills and concepts quickly. They can enter your workforce with identifiable and transferable skills, proven in real-world situations. They can contribute to productivity from the get go.
2. Leadership: The military trains people to lead by example, to motivate and inspire. Service leavers understand the practical ways to manage behaviours for results.
3. Teamwork: Service leavers understand how genuine teamwork grows out of a responsibility to one's colleagues. The Forces’ culture emphasises a blend of individual and group productivity and responsibility…and trust. The military also encourages understanding of how all group members contribute to an overarching objective.
4. Diversity and inclusivity: Service leavers have learned to work side by side with individuals regardless of diverse race, gender, geographic origin, ethnic background, religion, and economic status as well as mental and physical capabilities. They have the sensitivity to cooperate with many different types of individuals.
5. Performance under pressure: Service leavers understand the rigors of tight schedules and limited resources. They have developed the capacity to know how to accomplish priorities on time, despite tremendous stress. They know the critical importance of staying with a task until it is done properly.
6. Respect for procedures: Service leavers have gained a unique perspective on the value of accountability. They can grasp their place within an organizational framework and take responsibility for subordinates’ actions. They know how policies and procedures enable an organization to thrive.
7. Integrity: Service leavers know what it means to do "an honest day's work." Prospective employers can take advantage of a track record of integrity, often including security clearances.
8. Conscious of health and safety standards: Thanks to extensive training, service leavers are aware of health and safety protocols both for themselves and the welfare of others. Individually, they represent a drug-free workforce that is cognizant of maintaining personal health and fitness.
Host a placement
2022 Placement Scheme
We are now taking applications for the next placement scheme, which will run from May to July 2022. Places on the scheme are competitive but we are always seeking a diverse range of candidates to fill the range of opportunities that there are in the Market – irrespective of your military experience, there are roles for everyone and the application process ensures that candidates from different backgrounds are represented.
Prospective candidates will be invited to participate in a virtual interview process, which will be followed by a remote assessment centre designed to test candidate’s motivation and aptitude for a variety of roles within the industry. Applicants will be informed of the outcome of the process no later than April 2022, and successful candidates will be given the opportunity to meet their prospective placement company prior to the placement commencing, to allow them to shape outcomes and discuss expectations. Lloyd’s will conduct a briefing for all applicants early in 2022 to explain the process, but any questions on the process should be addressed to firstname.lastname@example.org.
Applications for the placement scheme will close on Monday 31st January 2022.
Support during the placement
During the placement scheme, you will be allocated a mentor who will support you throughout the process (and hopefully beyond).
Your scheme will start with an Induction which will provide you with an insight into Insurance, Lloyd’s and the Lloyd’s market. We will also host a welcome drinks to introduce you to your fellow participants, key members of the scheme and your mentor – all of whom will be on hand to assist you throughout your placement.
How many positions are there?
This is wholly dependent on the number of opportunities at supporting firms, but we usually take around 12 candidates per scheme, although we are looking to increase this for 2022.
The majority of placements will take place in London, however there may be opportunities in some of the regional offices; if you have a strong preference or are unable to conduct a placement in London, please indicate this on your application. You should assume that your placement will require you to be in the office five days a week, and it is likely that an element of social interaction after hours will be expected.
All Regular Service Leavers/Veterans that have left the Armed Forces within two years are eligible, providing that you have the right to work in the UK.
Will I be paid?
If you are still serving at the time of placement, you will not be paid in line with MOD regulations. For those who have left the Military, this will depend on the role you are performing and the company you are placed at; this will be clarified during the selection process.
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