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The Jacobson Journal: An Insurance Talent Blog

The Jacobson Group

Recent Posts

September 2022: Labor Market Pulse

Posted by The Jacobson Group on Sep 7, 2022 1:12:08 PM

The industry’s labor market remains strong with accelerating wage growth and continued low unemployment. Wage inflation for the industry is high, trending toward an overall 6.3 aggregate percent increase in 2022, compared to just 0.8 in 2021. This increase is even more pronounced for property and casualty carriers, which are trending toward a 10.5 aggregate percent increase, compared to -0.3 in 2021; and life and health carriers, which are trending toward 7.4, compared to 0.8 in 2021.

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Topics: Labor Market, PULSE

August 2022: Labor Market Pulse

Posted by The Jacobson Group on Aug 9, 2022 3:29:57 PM

Competition for talent continues, with job openings in finance and insurance reaching a record level of 401,000 in June*, surpassing January’s revised record of 376,000 (originally reported as 411,000) and contributing to an average level of 367,000 open roles for 2022 so far. Comparatively, the same timeframe in 2021 (January through June), saw an average of just 252,000 open positions.

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Topics: Labor Market, PULSE

Effective Leadership Development in an Evolving Climate

Posted by The Jacobson Group on Jul 26, 2022 1:54:39 PM

In today’s business climate, an organization’s vitality rests upon its leaders’ ability to evolve, rise to meet new stakeholder demands, and navigate shifting challenges and priorities. However, traditional career development plans have placed strong emphasis on an employee’s technical skills, overlooking the interpersonal and leadership skills that are necessary for success.

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Topics: Professional Development, Leadership

July 2022: Labor Market Pulse

Posted by The Jacobson Group on Jul 12, 2022 4:09:11 PM

While insurance unemployment continued to rise in June, the industry has added nearly 30,000 jobs since the start of the year. Within the larger finance and insurance category, job openings remain elevated amid a challenging recruiting climate. Additionally, pay continues to be relatively high for carriers although overall wage growth appears slightly slowed.

We’re continuing to see a realignment within the industry as insurers establish more finite parameters around long-term work environments and professionals evaluate their personal and professional needs. We invite carriers to share their expectations for the next 12 months by participating in our Q3 2022 Insurance Labor Market Study.

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Topics: Labor Market, PULSE

Recruiter Report: Job Hopping

Posted by The Jacobson Group on Jun 27, 2022 12:56:52 PM

The market has shifted in the past few years and recruiters and hiring managers are evaluating how they approach recruitment in order to remain competitive. Our team regularly talks with insurance leaders from around the industry, granting us a unique perspective on pressing talent topics. In this edition of “Recruiter Report,” we’re discussing the stigma around turnover and its place in the current market, answering the question, Is job hopping a deal breaker?

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Topics: Recruiter Report