As insurers aim to stay competitive in the challenging and volatile labor market, strategic succession planning and clear employee development opportunities are essential. Recently, The Jacobson Group conducted a study to better gauge the industry’s succession planning readiness. Below we highlight a few of the study’s key findings.

The results from the Q1 2020 iteration of the Semi-Annual U.S. Insurance Labor Outlook Study are now available! Conducted by The Jacobson Group and Aon plc, the study has uncovered the insurance industry’s revenue and hiring trends for 11 years running. We’re highlighting key statistics from the latest results below. You can download the full results summary, recorded webinar and slide deck for additional insights and commentary.

As we enter a new decade, most professionals are reevaluating their career paths and setting career goals. This may mean taking on continuing education courses, getting in line for a promotion or even evolving their management strategies. However, it is important that leaders also think about the future of their organizations. When is the last time you took a thorough look at your succession plan? Is it up to date? Have your organization’s goals and needs shifted since its initial creation?