The industry’s labor market remains strong with accelerating wage growth and continued low unemployment. Wage inflation for the industry is high, trending toward an overall 6.3 aggregate percent increase in 2022, compared to just 0.8 in 2021. This increase is even more pronounced for property and casualty carriers, which are trending toward a 10.5 aggregate ... September 2022: Labor Market Pulse
The insurance labor market continues to evolve. Insurers are undergoing a realignment, as they establish how their businesses will operate long-term, following the disruption of the pandemic. At the same time, the talent shortage persists and an already challenging recruiting climate is compounded by shifting employee expectations, hybrid environments and reestablished priorities. It’s necessary for ... Recruiting Amid the “Great Realignment”
The industry is in the midst of one of the tightest labor markets many have ever experienced. Job openings have peaked in the past few months, voluntary quits are high, and we’re continuing to see an industrywide realignment as both professionals and employers assess their long-term needs and desired working environments. The results from our ... Q3 2022 Insurance Labor Market Results: Opportunities Abound
Competition for talent continues, with job openings in finance and insurance reaching a record level of 401,000 in June*, surpassing January’s revised record of 376,000 (originally reported as 411,000) and contributing to an average level of 367,000 open roles for 2022 so far. Comparatively, the same timeframe in 2021 (January through June), saw an average ... August 2022: Labor Market Pulse
In today’s business climate, an organization’s vitality rests upon its leaders’ ability to evolve, rise to meet new stakeholder demands, and navigate shifting challenges and priorities. However, traditional career development plans have placed strong emphasis on an employee’s technical skills, overlooking the interpersonal and leadership skills that are necessary for success. As insurers respond to ... Effective Leadership Development in an Evolving Climate
While insurance unemployment continued to rise in June, the industry has added nearly 30,000 jobs since the start of the year. Within the larger finance and insurance category, job openings remain elevated amid a challenging recruiting climate. Additionally, pay continues to be relatively high for carriers although overall wage growth appears slightly slowed. We’re continuing ... July 2022: Labor Market Pulse
The market has shifted in the past few years and recruiters and hiring managers are evaluating how they approach recruitment in order to remain competitive. Our team regularly talks with insurance leaders from around the industry, granting us a unique perspective on pressing talent topics. In this edition of “Recruiter Report,” we’re discussing the stigma ... Recruiter Report: Job Hopping
As the candidate’s market continues, insurers are adapting their talent plans to best meet the needs of their employees and customers. A low unemployment rate and high number of open insurance roles have given candidates the upper hand in terms of recruitment, with job seekers often receiving strong offers from multiple companies. As organizations recalibrate ... Optimizing Your Contingent Labor Program in Today’s Economy
We’re proud of our employees at The Jacobson Group and know they are what fuels our success. This quarter we shine our Employee Spotlight on three dedicated individuals. Get to know them below. View previous editions of our Employee Spotlight here. For monthly Employee Spotlights, follow our Facebook page. TONY CAÑAS Client Advisor, Insurtech, ... Jacobson Employee Spotlight – Q2 2022
Industry unemployment remains low, and while May saw a decrease in employment compared to April, insurance has gained more than 17,000 new jobs since the start of 2022. Movement persists with both quits and job openings remaining high. As comfort levels increase, in-person conferences and networking events are picking up pace across all industry sectors, ... June 2022: Labor Market Pulse
Insurance unemployment remains low, job openings are at an all-time high, and organizations have record-breaking hiring goals. Even if you’re not actively job searching, it’s likely recruiters are reaching out to share potential opportunities with increasing frequency. While we’re currently in a candidate’s market, how you handle these interactions – regardless of your intent to ... Remaining Professional in a Candidate’s Market
The talent landscape continues to shift and present new challenges for insurance leaders. From the abrupt adoption of remote work and a focus on contingency planning at the start of the pandemic to the current “Great Reshuffle” (and potentially “the Great Regret”), ongoing evolution and real-time learning have been key themes throughout the past two-plus ... Insight on Today’s Pressing Talent Questions