Moving into 2023, insurers are continuing to navigate new shifts in employee behaviors, a persistent candidate’s market, decisions around long-term work environments and balancing organizational needs with employee expectations. Below are a few of the key trends we’re anticipating. To read more, download our complete 2023 Insurance Talent Trends Guide.
Successful talent strategies are future focused.
As the industry’s pace of change accelerates, focusing on the skills required to meet future needs and aspirations is essential. This includes recruiting for transferable skills and approaching employee development through a future-focused lens.
CEOs respond to changing economy.
Numerous situations are possible as we enter a potentially tumultuous year. However, the decisions leaders make now will impact their performance not just in the event of an economic slowdown, but for many years later.
The need for upskilling and reskilling is emphasized.
Savvy insurers are expanding and refining their employees’ skillsets to best support emerging needs and support the organization’s future goals. This includes leveraging talent in creative and non-traditional ways, and considering lateral and interdepartmental moves.
Industry reacts to pay transparency mandates.
More states are adopting pay transparency laws and it’s likely others will follow suit in 2023. While this is a positive step toward reducing bias and closing the gender pay gap, insurers will need to be transparent and strategic in their approach to compensation.
Virtual hiring is embraced long term.
Throughout the past three years, professionals have come to appreciate the flexibility and ease of holding meetings – including interviews – through screens. Becoming comfortable extending offers without ever meeting an individual face-to-face is essential for effective future recruiting.
DEIB strategies are no longer optional.
For several years, DEI has been at the forefront of industry talent conversations; yet, there has been minimal change in representation. In 2023, weaving DEI and a sense of belonging into the company’s guiding values will be essential for achieving lasting change.
Broad and comprehensive succession planning becomes more important than ever.
The workforce is aging and voluntary quits are high; yet the majority of carriers don’t have written succession plans in place. In today’s climate it’s essential to focus on clearly defined succession plans that take a broad look at the organization and extend to middle management and even crucial individual contributor roles.
For more insight on these trends, view our full 2023 Insurance Talent Trends Guide.
