Insights

Latest Insurance Talent Perspectives

The Human Element of AI Transformation

Discover ways to effectively navigate through AI transformation. Only 4% of companies say they’re creating real value from their AI investments. The key differentiator is how well organizations manage the human side of implementation. 

Download the white paper to explore best practices for taking a human-focused approach as you lead through change.

Recruiter Report: Find the “Perfect” Candidate

Finding top talent remains difficult in today’s labor market. However, holding out for the “perfect” candidate may mean losing out on high-potential individuals that would thrive in the role.

Read our blog post gain insights on redefining what the ideal candidate looks like and share how to take a realistic and future-focused approach to making the right hire.

Explore Our Full Thought Leadership Library

  • Reset

Taking Stock of Your Succession Plan in 2020

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? The industry, as well as its employment landscape, is continuing to evolve. Technology and automation are redefining roles, new roles are being created (such as “head of wearables” or “chief automation officer”), and Baby Boomers are retiring at a steady pace. In fact, CEO turnover is at the highest level in nearly 20 years and the majority of insurers would be unable to replace their CEO in the event of an emergency. In today’s fluid employment market, succession planning is much more involved than in the past and the best future leaders are not always an obvious choice. Organizations must account for a number of factors including new business goals, individuals’ personal aspirations and needs, and flight risks. A well-developed and comprehensive succession plan should look several years into the future and account for any critical roles and skillsets. Recently, our senior vice president of human resources, JoJo Harris, and senior vice president of executive search and corporate strategy, Judy Busby, penned an article on creating comprehensive succession plans that will contribute to long-term organizational success. They expounded on the following areas: Creating both a succession plan and a replacement plan. Planning for future goals and needs. Including your most critical roles in your plan. Involving employees in the process. Continually re-evaluating your needs. To learn more about putting these best practices into action, along with how prioritizing succession planning can help meet your business goals, retain top performers and lay the foundation for ongoing success, read the whitepaper, “Prioritizing Succession Planning for Long-Term Success.”

Prioritizing Succession Planning for Long-Term Success

In today's competitive market, succession planning is often delayed in response to more immediate business needs. However, now is the time to prioritize creating comprehensive plans that will contribute to long-term company success.

Insurance Kicks Off the Big Game

The Big Game is on everyone’s radar this week. No matter which team you’re rooting for, you can thank insurance for being a major player. From media liability concerns to personal injury coverage, insurance is an MVP in making the Big Game happen. Here are a few of the most interesting insurance facts for the biggest football event of the year. Insuring the big game is a massive financial and time-intensive undertaking. From advertising liability to prize indemnity, insurance makes the big game great. Have any interesting facts about Sunday's game? Share them with us in the comments below.

Resume Writing for all Stages of Your Career

As recruiters, we commonly get questions from candidates at all career levels around how they can improve their resumes. What should be included? How should employment gaps be handled? How can they best stand out from other well-qualified individuals? Everyone has resume anxieties at some point. However, a well-constructed resume is often the first step to getting your foot in the door at your dream company. It can also serve as a valuable professional development tool, enabling you to review your career roadmap, connect the dots within your story, and identify any experience gaps that may need to be addressed. Here are a few ways to compile a resume you’ll feel confident sharing, no matter where you are in your career. New Graduates and Entry-Level Professionals When applying for entry-level positions, it’s understood you may not have a surplus of applicable work experience. Instead, try to leverage your skills and convey your passion for the industry. The less experience you have, the shorter your resume should be; in this case, that likely means one page. Share your school and major, including your GPA if it is particularly impressive (such as graduating magna cum laude). Include specific courses only if they are outside of your degree and apply to the role. For instance, if you majored in finance, it’s understood you completed the necessary finance courses. However, if you took a relevant course outside of your major, such as a coding class, you may choose to include it. Extra curriculars can also be omitted unless they’re relevant to the role and/or demonstrate leadership qualities. For those seeking their first professional roles, gaps in employment history are standard and expected. Holding a summer job that ended when the school year began or interning for semester-long periods are common. When reviewing your work history, think through how your experience, even if it’s limited, relates to the types of roles you’re aiming to secure. For instance, if you seek a customer-service oriented role, draw a connection to how working at a grocery store built and strengthened that skill. Experienced Professionals As a mid- or late-career professional, approach your resume from the lens of the role you want, rather than your current role or past positions. For instance, if you are an underwriter who wants to move into project management, you will want to highlight different accomplishments and responsibilities than if you’re aspiring to a more senior underwriting role. When you’re established in your career, your resume can extend past one page, as long as the information you provide is still relevant and concise. Include key skills and areas of expertise, speaking to position highlights rather than a laundry list of responsibilities. If you performed the same task in multiple roles, don’t waste resume real estate repeating it under every position. Instead, include relevant projects, skills and business impact. It’s also not necessary to include what the actual companies you worked for do, unless you ran your own business. Be forthright with any employment gaps in your career history, rather than trying to avoid them. If your time off was related to professional development, such as training or pursuing an advanced degree, don’t hesitate to include that in your resume. Your goal is to introduce yourself to an employer and showcase well-edited, easy-to-read highlights. Those Reentering the Job Market In today’s employment landscape, it’s not uncommon for individuals to step back from their careers for a few months or years. Personal reasons, advanced degrees, health issues and sabbaticals all commonly come into play. However, reentering the job market can be daunting. In this case, the reverse chronological resume format may not be the most effective. Consider segmenting your resume by experience, rather than dates. Include a note in the summary section of your resume explaining that you are passionately seeking to reenter the workforce. Share how you have kept up with relevant skills during your time away from the industry. Be transparent with where you currently stand in your professional life and what you want your next steps to be. General Resume Best Practices While there are a few unique considerations for tackling your resume at different career stages, several universal best practices hold true: Keep it up to date. Your resume isn’t just a necessity for job applications. It can also be used for networking, internal career discussions, thought leadership opportunities and your own personal career mapping. By maintaining an up-to-date resume, you won’t be scrambling when you eventually need it. Tailor your resume to the role. As a general rule, you should have versions of your resume geared to each different type of position you are interested in. However, if your dream job becomes available, take some time tailoring it to that specific position description and aligning your experience and skills to those desired in the role. Connect your skills to the job. If there’s a particular position you are interested in, a cover letter can help connect your skills to the specific role. However, this can also be done through a summary section at the top of your resume. Include a short paragraph or bullet points to provide a snapshot of your skills, your experience level and where you want to be in your career. Edit your skills list. Keep your list of skills as relevant and targeted as possible. Leave off programs like Word, but do share proficiencies such as advanced Excel. Avoid listing vague skills such as communication and organization, instead sharing that you’re a green belt in project management or a member of organizations like Toastmasters. Make it reader friendly. People should be able to look at your resume and understand where you’ve worked, how long you were there, your title and your contributions. Focus on following a uniform and consistent format for readability. Include your education. Share your school and relevant certificates at all career stages. Recruiters may be looking for someone who holds a certification in a certain state and often use alma maters to source this information. Proofread. You’ve put a lot of time and energy into your resume. Don’t distract recruiters and hiring managers with typos and misspellings. Ask your friends, mentors and other trusted individuals to review and provide feedback on your resume. No matter where you are in your career or job search, there are benefits to a well-constructed, comprehensive resume. Take this a step further by refreshing your LinkedIn profile. And, if you’re updating your resume for a job search, here’s how to prepare for a stellar interview.

Compass 13.1: Prioritizing Succession Planning in the New Year

In today's competitive market, succession planning is often delayed in response to more immediate business needs. However, now is the time to prioritize creating strategic and intentional plans that will contribute to long-term company success.

Jacobson Employee Spotlight – Jan. 2020

Happy New Year! At The Jacobson Group, we’re focused on professional development but also on work-life balance. Each month, we ask our corporate employees to share a bit about their roles at Jacobson and who they are when they aren’t at work. Take a look at some recently featured individuals below, and view last month's edition of our Employee Spotlight here. JULIE DUNN Engagement Director, 1 year, 5 months at Jacobson Hometown: Roselle, Illinois Alma Mater: University of Illinois at Chicago Describe Your Role: I lead the internal search team and partner with clients for the duration of their executive search engagement.  Favorite Thing about Jacobson: I love working with an amazing team of supportive, intelligent, fun people who are genuinely the best in the business. Jacobson in Three Words: Inclusive, Expertise, Supportive Surprising Fact about You: I am an Ironman! Favorite Weekend Plans: I am an adventurer at heart, so I never know where I might end up! One weekend I'm hiking; the next weekend I'm at a winery.  DIANA SHAY Assistant Vice President and Client Development Manager, 13 years at Jacobson Hometown: Peoria, Illinois Alma Mater: Loyola University Chicago Describe Your Role: I work very closely with clients and candidates to make successful placements. There are so many moving parts that it's impossible to get bored or not feel challenged.  Favorite Thing about Jacobson: I enjoy the the growth potential and that no two days are the same. Being able to work on a variety of roles with different clients is something I really love.  Jacobson in Three Words: Challenging, Collaborative, Fast-paced Surprising Fact about You: I love to cook and entertain. I don't know how to prepare for fewer than 20! Bucket List Item: I would love to go to Capri, Italy, with my daughter. TIM FRYE Administrative Assistant, 1 year, 5 months at Jacobson Hometown: Bourbonnais, Illinois Alma Mater: Loyola University Chicago Describe Your Role: I answer the main phoneline, direct calls and organize meetings. I also handle anything from interacting with building management to ordering supplies and catering. Favorite Thing about Jacobson: It's a really great environment, and I like everyone I work with. It's relaxed enough that you can be yourself but disciplined enough that work gets done.  Favorite Music: Anything by Blondie Your Superpower: Consistently bringing in the best catering options on time, every time Surprising Fact about You: I have a podcast! It’s called Dumb Nerd Thing. Each episode, I interview someone new about whatever they are nerdy about, from The Muppets to Norwegian metal to "The Office" to the art of dance. There’s my shameless self-promo. PAIGE HOOVER Recruiter, 1 year, 4 months at Jacobson Hometown: Palatine, Illinois Alma Mater: Kendall College Describe Your Role: My job is to source, recruit and submit candidates to our clients who utilize a vendor management system. I compete against multiple agencies working on solutions for the same positions. Favorite Thing about Jacobson: The quarterly update meetings. It's great that we come together to hear about successes and all of the new and exciting things that are to come. Jacobson in Three Words: Niche, Growing, Exciting Favorite Movie: Moulin Rouge  Bucket List Item: I would like to take a cross country road trip in a Volkswagen bus. If you’re interested in joining our corporate team, check out our open positions here.

Q1 2020 U.S. Insurance Labor Market Study Results

The Jacobson Group and Ward Group conducted a study to investigate hiring trends within the insurance industry. The following presents the findings of an insurance labor survey conducted in the first quarter of 2020...

Five Considerations for Successfully Onboarding New Board Members

The boardroom is evolving as the insurance industry embraces the value of diverse and inclusive leadership. With this growing variety of backgrounds, experiences and skills among board members, comprehensive and effective onboarding processes are becoming increasingly vital.

Insurance Talent Trends to Watch in 2020

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.

Five Dos and Don’ts for Acing Your Next Interview

Interviewing for a new job often feels overwhelming. Unfortunately, that stress can show when you talk with a recruiter or hiring manager, leaving a less-than-perfect first impression. And though we’re currently in a candidate-driven market, you still need to outshine other individuals if you want to land your dream job. As a recruiter, I’ve interviewed hundreds of insurance professionals seeking to further their careers and I have identified several behaviors that set candidates apart. Here are my top five tips to help ease your stress and ensure you walk into your next interview prepared and ready to impress. Do research your potential employer. Looking at the company’s website and social media channels will give you a feel for its style and values. Read through the “about us” page, and look for its mission and vision statements. You should be up-to-date on any recent company news; read articles about the organization and review new press releases. If you know who will be interviewing you, check out their LinkedIn profiles, too. It’s also a good idea to look up key executives’ profiles so you’re familiar with their names and impact in the industry. Don’t wing it. To combat nerves and put your best foot forward, preparation is key. Having context for the conversations in your interview, such as recent product releases or new company initiatives, will help you craft well-developed answers and ask the right follow-up questions. This will demonstrate you’re a proactive, detail-oriented professional and will allow you to focus on building personal connections, not just navigating a minefield of unanticipated topics. Plus, doing some research ahead of time will make it easier to remember who needs to receive a thank you note. Do take a close look at the job responsibilities and requirements. Make sure you thoroughly understand what the company is looking for in the role and determine where your skills fit particularly well. You’ll want to call attention to these abilities and experiences, sharing specific facts and figures to support your successes. On the flip side, look into the areas you aren’t as skilled in and determine how you would fill those gaps. Do your work experience and relevant certifications make up for your lack of a post-graduate degree in your field? Be sure to plan how you can effectively communicate that to an interviewer. Don’t say you’ve accomplished things without offering hard facts to back up your related work history. Saying “I helped grow the business” is great; but you then need to follow it up with how. Were you instrumental in hiring the right talent to take on revenue-impacting projects? Did you lead initiatives that expanded business offerings? Share those details, using numbers where possible to help paint a clear picture of your experience. Do think through the questions your resume will prompt (e.g., if there are gaps in your job history or if it looks like you were abruptly let go). Be prepared to answer honestly. You don’t have to go into excessive detail, but you should put together a well-thought-out account of the situation, in case questions arise. Don’t speak poorly of past employers, no matter the circumstances under which you left a company. If you were let go from your last job, for example, you could explain how the company reorganized and reduced roles in your function. Though it may have been a shock, do not blame your previous manager for not recognizing your worth. Instead, take this opportunity to share the skills you bring to the table that your prospective employer could leverage. Further, explain how you can use those skills to impact the organization beyond your immediate department. Do make a good first impression: make eye contact, don’t slouch, and answer succinctly but completely. If you’re interviewing in person, be polite in the elevator and at reception, give the interviewer a firm handshake, and bring more resumes than you think you need. You never know who may drop in on your interview, and you want to be prepared with a resume for each person you meet. If you’re interviewing via videocall or phone, your personal presentation still counts. Dressing professionally, even when the other party can’t see you, puts you in an interviewing frame of mind and lifts your confidence, setting you up for success. Additionally, don’t forget to test your video software ahead of time; nothing sets the wrong tone for a video interview like malfunctioning software delaying your meeting. Don’t be late, but also don’t be too early. Perhaps you drove into the city and wanted to ensure you’d have enough time to park; however, showing up too early can put your interviewers in an uncomfortable position. They might be meeting with another candidate before you, for example, and you don’t want to impede on their goodbye and start your interview feeling awkward. If you’re more than 10 minutes early, find a nearby coffee shop and brush up on your notes instead of heading straight to the office. Do end the interview on a high note by asking thoughtful questions. This shows you’re invested in the role and committed to putting in the work necessary for success. If candidates don’t have questions, it often signals they aren’t very interested in the role or may be willing to take any job without fully understanding its responsibilities. You could ask for more details surrounding a particular job responsibility, for an overview of the company culture or just for next steps in the interview process. Don’t skip sending thank you notes. And make them personal, not just a template. Calling out something from your interview shows you were interested in the conversation (maybe include the link for that article you referenced or wish the interviewer well on an upcoming vacation). The important thing is to acknowledge the time taken out of the interviewers’ days and thank them for their consideration. Email is more than acceptable and should be sent within 24 hours of leaving the interview. You can always follow up with a handwritten thank you note to put yourself back on the radar when it’s received a few days later. What this all boils down to is preparation. If you take an intentional look at your resume and the position profile; think through the questions your interviewer may have and the ones you’d like to ask; and set yourself up to leave a professional impression, you’ll be ready to ace any interview.

Developing a Culture of Change to Support Modernization

As insurance organizations undergo modernization efforts, the ability to successfully manage change is becoming increasingly important. According to an Accenture survey, 63 percent of executives say that in the next three years, they expect job growth to be driven by intelligent technologies. The World Economic Forum estimates 75 million jobs will be displaced by technology, with 133 million net new jobs being created. Some reports even suggest 65 percent of children entering primary school will end up working in jobs that don’t exist yet. Technological advancements are not slowing down and employers are tasked with helping employees adjust to shifts in roles, responsibilities and processes. At the current pace of change, today’s insurers must do more than plan logistics around implementations. They must also prepare their employees psychologically and emotionally for modernization efforts to ensure continued engagement and productivity. Leaders must be empathetic to employee needs, while clearly communicating expectations and anticipated impact. At the same time, innovation is becoming a competitive differentiator and must be woven into a company’s corporate fabric. Recently, Jacobson’s Judy Busby, senior vice president of executive search and corporate strategy, and Jessica DeMars, vice president of talent partnerships, shared how to develop a culture of change with Insurance Journal. In their article, “How a Culture of Change Helps Modernization Efforts,” they outline the change curve and how employees typically react when faced with a major change. Similar to the grieving process, individuals often have an initial reaction of shock or denial, then disruption, followed by exploration and finally, rebuilding. The article discusses how to manage through change, ignite innovation and tap future leaders who have the right skills to continue moving the company forward. By encouraging new ideas and questions, inviting all employees to innovate, and facilitating structured discussions, organizations can increase innovation within their current workforces and attract empathetic and forward-thinking future leaders. Read the full article here.

Meet the Talent Trends Impacting the Industry in 2020

As 2019 comes to a close, there are a number of talent trends on the rise for 2020. Our team recently put together a 2020 Insurance Talent Trends Guide highlighting key themes on our radars and their potential impact on the industry. As you create your career resolutions for the new year, here are a few takeaways and how they may relate to your own professional journey. View the full guide and all 10 trends here. Employers adapt to a candidate-driven recruiting climate. In today’s market, we’re seeing incredibly low unemployment rates and more open positions than qualified individuals to fill them. As a result, hiring managers are tasked with creating compelling offers that resonate with top talent. Make sure you have a clear understanding of your motivators and desired non-monetary compensation (for instance, is the ability to work from home at the top of your list? Do you desire flex hours?) so that you are prepared to discuss what is important to you in an offer. At the same time, prepare questions ahead of time to help determine if a company and position is right for you throughout the interview process. Organizations evolve corporate culture to meet business and employee needs. Corporate culture is much more than offering open office environments, games and free snacks. Organizations are recognizing they must blend the needs of both their employees and their businesses to create corporate cultures that yield successful outcomes. Companies are adjusting outdated policies and evolving their cultures in order to attract the individuals necessary to meet their business goals. Focus on the value you bring to an organization, and the impact you’d potentially make on its corporate culture. Qualified talent pools are expanded by recruiting for skills, not experience.  Savvy insurers are expanding their candidate pools and looking outside of their specific specialties to recruit qualified talent with the right transferable skills. As you embark on your job search, consider roles that may be outside your immediate area of expertise. Think about your transferable skills and how they may make an impact in other areas of insurance. At the same time, human skills are becoming increasingly important. Showcase attributes such as accountability, negotiation, communication, problem-solving, coaching, leadership, emotional intelligence and more, focusing on key areas that are desirable across multiple positions and cannot be easily replicated by machines. Proactive diversity and inclusion efforts strengthen organizations. The insurance industry has committed to a more inclusive workforce, and is focused on issues such as gender balance, equity and justice, and belonging. Talk is shifting to action and insurers are holding themselves accountable, proactively measuring their progress, and working to shed light on gaps and weaknesses. Forward-thinking organizations are focusing on recognizing and combatting potential unconscious bias within their recruiting activities. Blind resume screenings are also becoming more common and job postings are evolving to feature streamlined lists of requirements and gender-neutral language to help level the playing field and encourage a multi-dimensional candidate pool. Balanced and inclusive workforces strengthen teams and should be a priority for everyone within the industry. To download the 2020 Insurance Talent Trends Infographic, click here.