The insurance industry stands amid a rapidly evolving talent market. Insurers are faced with the rise of blended workforces, diversity efforts, mental health and automation. Is your organization prepared?
Discover the top ten insurance talent trends we'll see in 2020 below.
1. Employers Adapt to a Candidate-Driven Recruiting Climate
By uncovering candidates’ motivators, hiring managers can create more compelling offers that resonate with top talent. Did you know 61.6 percent of insurers plan to increase their staff sizes in the next year?
2. Proactive D&I Efforts Strengthen Organizations
Insurers must be intentional about combatting unconscious bias and taking actionable and measurable steps toward a more inclusive workforce.
3. Organizations Evolve Corporate Culture to Meet Business and Employee Needs
In today’s environment, employers need to adapt their corporate cultures to recruit and retain the individuals who will help them reach business goals. In the past five years, one in five Americans left positions due to company culture, which resulted in an estimated turnover cost of $228 billion.
4. Management Techniques Evolve to Accommodate a Blended Workforce
Employers must adjust management styles to seamlessly incorporate a variety of employment types into their human capital strategies.
5. Employers Address the Stigma Around Mental Health
Employers must be proactive in equipping their leaders to manage potential mental illness, while navigating its challenges. Did you know 61 percent of workers say their productivity is impacted by their mental health?
6. Qualified Talent Pools are Expanded by Recruiting for Skills, Not Experience
In today’s candidate-driven market, it’s imperative insurers open their talent pools to include professionals of other relevant backgrounds.
7. Insurers Focus on Remote Staff Management and Engagement
Forward-thinking insurers who are seizing work-at-home’s potential must also develop comprehensive guidelines to set their employees and teams up for ongoing success.
8. Automation Requires a Human Touch to be Most Effective
Forward-thinking insurers who are seizing work-at-home’s potential must also develop comprehensive guidelines to set their employees and teams up for ongoing success. A third of workers are anxious about what automation means for their jobs.
9. Training and Development Becomes a Top Priority
Professional development, training and reskilling are crucial for building a strong and engaged workforce that is ready to meet business goals.
10. Organizations Realize the Impact of Strong Succession Planning
By prioritizing succession planning and developing comprehensive plans, insurers will have the right individuals in place to guide their organizations into the future. Did you know CEO exits are at their highest levels in at least 17 years?
Want to learn more about the top insurance industry trends anticipated in 2019? Download our full trends guide for an inside look.