Insights into the Insurance Talent Marketplace: Trends for 2019

Posted by Nikki St. Martin

2019.01_TalentTrends_teaserBLOG-1The insurance industry stands amid a rapidly evolving talent market. Insurers are now face-to-face with the rise of innovation, emphasis on corporate culture, push for inclusivity and growing temporary workforce. Is your organization prepared?

Here are top the nine insurance industry trends we expect to see in 2019:

  • Insurers Revisit Recruiting and Hiring Practices Amidst Candidate-Driven Market: The current candidate’s market requires insurers to reevaluate their recruiting and hiring practices in order to expand their talent pools and appeal to the top talent needed to succeed.
  • Salaries Reevaluated as Talent Market Competition Heats Up: Insurers must revisit their compensation plans to gain a competitive position in the challenging talent marketplace.
  • Talent Management Strategies Broadened as Temporary Workforce Continues to Grow: Understanding the value of a seamlessly blended workforce and making it a reality organization-wide yields endless benefits in terms of productivity and innovation.
  • Future of Work Calls for Soft Skills Proficiency: The future of work ignites a need for soft skills only humans can possess. Refining employees’ soft skills will be critical for insurers looking to stay competitive in the marketplace.
  • Evolving Industry Demands New Type of Leader: The evolving business reality requires a different kind of leader, one who can courageously and effectively navigate their teams through the challenges the transforming industry presents and inspire continued success.
  • Modernization Draws Attention to Retention Strategies: Insurers often find it challenging to motivate and retain employees during innovation. Organizations should focus on retaining and training their current employees to stay ahead.
  • Culture Seen as Long-Lasting Solution to Employee Benefits Focus: Merely implementing creative benefits as a means to improve retention and engagement is a temporary fix. A holistic approach to workplace culture will result in long-term value.
  • Emphasis on Diversity Influences Recruitment Plans: As it has now become evident that diversity is good for business, recruiting professionals of diverse backgrounds and perspectives must be a priority for insurers to stay competitive in today’s marketplace.
  • Human Resources Embraces Potential of Marketing: The candidate-driven market requires insurers to integrate the fundamentals of marketing into recruiting strategies to approach the candidate journey the way marketing professionals manage the customer experience.

Want to learn more about the top insurance industry trends anticipated in 2019? Download our full trends guide for an inside look.