Pump Up Your Insurance Career in this New Era. Here is How!

The great resignation



In August of this year, 4.3 million people quit their jobs across the country. September saw 4.4 million more people quit their jobs (BLS). The “Great Recession” is a real thing driving employers crazy.  If so many jobs are open, how do you use this information to excel your insurance career?  For one, your current employer needs you and if you like them, read this article.  In the event you are ready to quit, you have more options today that almost guarantee you find the right career fit.

People are quitting their jobs for all kinds of reasons. Many don’t want to return to the office. Others are leaving poor work environments. Many took time to discover new skills, start businesses or completely change careers. With the most robust job market (maybe ever), people quit their jobs without a plan B. This was unheard of pre-pandemic and is causing many employers to lose sleep.

The insurance industry has a more significant “resignation” issue. The 400,000 insurance workers who have been retiring for years are finally riding off into the sunset. Many who were supposed to retire in the “great recession” ended up staying to revitalize their investment portfolios. One good thing that came out of COVID is the stock market and home prices have all set record highs. A lot of great people are going to be exiting the insurance industry.

On top of that, many insurance companies who have had their employees working from home are calling them back to the office. Workers who don’t want to return and have claims, underwriting, sales, or customer service skills are finding they can quit and find jobs that fit the way they want to work. For example, many people from northern states moved to Florida (where we are located) since they could work from home. Once their employers started calling them back to the office, they declined and quit if moving back was the only option. They could leave because many insurance companies are hiring remote workers. 

The remote worker with insurance skills can get a job in any state. No relocation is needed. Indeed, not all jobs are remote, but many insurance companies used the pandemic to identify what jobs can be remote and implement technology to help 

monitor, motivate and measure their work from home employees. Right now, insurance companies with remote options are winning.

So what does this all mean for your insurance career? It means there may never be a better time to consider a position change, but only for the right reason. Here are some things to think about:

  1. Ask for a raise.   If you like your current job but want to make more money, there is no better time to do that than now. Insurance companies will do what they have to keep you. If you have a great job, don’t interview with other insurance companies before asking your current company for a raise. If you get an offer from a competitor, you will receive the counter offer the minute you put in your two-week notice. You can save a lot of time by just asking, assuming you like your job!
  2. Ready for a Promotion?  With many people retiring and leaving the insurance industry, many higher-level positions are opening up. Do your managers know you want to escalate your career? If not, get the meeting scheduled. If you know you need some additional training, most insurance companies will also pay for that. There is a ton of openings.
  3. Remote Jobs.  If you have decided that you want to work from home, you may have hit the jackpot. When searching for remote jobs, pick cities like New York, Los Angeles, or Dallas and see if you can find these types of insurance jobs. You may get big-city wages, too, even though you don’t even work in that state. This is a huge win.
  4. Office Job Are Abundant.  Many insurance workers don’t want to work from home. If you fall into this category, with so many people not ever wanting to go back into an office environment, this has opened up some great job opportunities in physical locations (just like the old days 20 months ago). Employers who need your skill sets are also ready to pay you more, provide more flexibility than usual, and make sure you are safe while in the office.

The insurance industry has excellent jobs. There may not ever be a better time to boost your career, no matter if you want to stay remote or go back to the office. Insurance employers need you and are making many changes to recruit, retain, and keep you safe.

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