The insurance talent landscape is shifting. Many senior-level employees are nearing retirement, Millennials and GenXers are moving into leadership positions, and members of Generation Z are securing their first jobs. Along with these demographic shifts, technology is redefining roles, making today’s desired leadership skills much different than those of even 10 years ago.
It’s no secret we’re currently experiencing a candidate-driven market. Overall U.S. unemployment is at a near-50-year low and within the insurance industry, there are more job openings than qualified individuals to fill them. As the war for talent continues and Baby Boomers retire, many insurers are challenged with recruiting new leaders in an increasingly competitive market.
Odds are you have probably heard my colleagues or me talk in length about the insurance talent crisis. You have likely also heard us discuss the importance of upgrading salaries, culture and more in order to recruit and retain top talent. Were you listening? And more importantly, have you pivoted your strategies as a result?
Follow along as I debunk eight popular insurance talent myths. Then take action to gain an upper hand in securing the best talent.
The insurance industry stands amid a rapidly evolving talent market. Insurers are now face-to-face with the rise of innovation, emphasis on corporate culture, push for inclusivity and growing temporary workforce. Is your organization prepared?
Written by Joanne Turner, Assistant Vice President, and Blake Grimm, Client Development Manager
The future of healthcare is upon us and it’s offering a chance for payers to lead the industry through innovation and expansion. Global healthcare spending is projected to reach $8.7 trillion by 2020. Organizations are continuously finding smarter and more innovative ways to deliver efficient and effective patient care. The unprecedented growth commands additional job opportunities. According to the Bureau of Labor Statistics, the healthcare industry is expected to add four million new jobs and account for approximately a third of total job growth by 2026.