We really enjoy reaching out to insurance companies from across the country to ask them questions about how their hiring looks in 2014, what type of jobs are you hiring for and some of the challenges you are experiencing in finding talent. (Download at www.greatinsurancejobs.com/whitepaper)
This year, the employment outlook for the insurance industry looks great. It is by far the most positive report in the last six years with over 10,000 jobs open and more than 18,000 forecasted. 42% of insurance companies stated that hiring would be better in 2014 than it was just a year previous. Download the report and it will break all this down for you by sector and jobs.
Also uncovered from insurance companies are many of the challenges they are having finding and hiring qualified job seekers. Over 90% of the surveyed companies told us that unqualified job seekers are applying to their jobs which are wasting a lot of their time. For those who hire, you know exactly what we are talking about. The question is why does this keep happening? If you talk to jobseekers, they apply because they don’t want to take the chance that you may see something in their background that will get them an interview. Since technology makes applying easy, these job seekers may be applying to numerous jobs at the same company. For all insurance companies, this is driving you crazy. To help minimize this going forward you may consider “knock out” questions, better job descriptions, salary information in the job descriptions, more targeted niche job advertising and more descriptive job titles.
The survey also found other challenges insurance companies, brokers and third party administrators are having:
1. Finding technology talent (exempt) for numerous full time positions around the country.
2. Dealing with the retirement issue in the insurance community. (Average age is 54.)
3. Funding recruiting events at colleges. Funding training programs.
4. Finding great sales professionals at all levels. Most brokers looking for producers.
5. Finding actuaries.
6. Limited salary grades that are not competitive. Companies lose staff because they can’t pay them as well and are challenged with putting together a strong compensation package once they do identify talent they want to hire.
Feel free to download the entire survey and share it as you like. After years of analyzing this information, one thing has never changed and that is the desire of insurance companies to find and hire the best and the brightest. I sense from this information that as the economy continues to improve, the war for this talent is only going to get harder. Let me know what you think -firstname.lastname@example.org.