Professional development is a vital component of employee engagement, retention and career satisfaction. Training magazine found U.S. companies spent about $87.6 billion on training and development in 2018. Amazon alone recently announced it’s investing an average of $7,000 per employee for voluntary training programs. As companies begin to reinvest in employees’ individual growth, it’s important these initiatives also contribute to larger business goals.
Insurance recruiting can be a delicate balance. On one hand, you’re trying to learn more about your candidate and express interest. On the other, you don’t want to seem as if you are desperate to fill a role, or the position itself is undesirable. As we approach Halloween, it’s time to take a step back and make sure you’re not “spooking” your candidates.
This piece is co-written by Tony Cañas, Client Advisor, and Sandy Zupancic, Vice President.
Insurers are facing a challenging recruiting climate, driven by mass Baby Boomer retirements, a low unemployment rate and continued job growth. There are currently about 250,000 open roles in finance and insurance alone, and not enough qualified individuals to fill them. Insurers that have been operating with lean workforces or tackling unforeseen workloads will likely feel the impact of this candidate-driven market at some point: overworked employees, lack of time for long-term projects and inadequate resources to modernize antiquated systems, to name a few.
The results from our most recent Semi-Annual U.S. Insurance Labor Outlook Study are now available! The study, conducted by The Jacobson Group and Aon plc, uncovers revenue and hiring trends within the insurance industry. We are highlighting key data points from the Q3 2019 results, and you can download the full results summary, webinar and slide deck for additional insights and commentary.
As the insurance industry adopts new technologies and undergoes modernization efforts, accounting and finance departments have much to gain. Automation is allowing for reduced processing times, increased efficiency and higher service levels. More redundant tasks within bookkeeping and data entry are being taken over by artificial intelligence, and machine learning is identifying patterns and streamlining customer interactions.