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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.

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Stay Interviews: A Checklist

High industry turnover and quiet quitting are further compounding existing talent challenges, making it more important than ever to keep employees engaged and fulfilled. However, while most leaders understand the importance of building employee loyalty – especially among top performers and high potential individuals – few have formal retention plans in place.  Stay interviews are a valuable starting point for guiding individualized retention plan development. Unlike job interviews or exit interviews, these conversations help identify what employees value about their roles and address areas they feel are lacking. This provides a chance for managers to proactively make changes before individuals become disengaged or seek out other opportunities. Below is a checklist to help guide these conversations and ensure you’re uncovering the right information to effectively retain your top talent.  Set the stage for open and honest dialogue. One of the key success factors for stay interviews is fostering clear and transparent communication. Enter these conversations with an open mind and a goal of better understanding your employees’ motivators, any shifts that may have occurred since you last spoke, and ways that you as a manager can help them feel more valued and fulfilled at work. Consider providing the questions you’d like to cover in advance, giving employees time to reflect and prepare thoughtful responses.Determine (or reaffirm) the employee’s “why.” A retention plan’s success is dependent on identifying and supporting the areas that make an employee feel fulfilled at work – their “why.” Use the stay interview to ensure you’re aligned on what motivates them and makes them feel most satisfied with their role and the company. This will vary based on an individual’s personal and professional values, and may change over time.  Potential questions to ask:  What gives you fulfillment within your work?  What do you look forward to each day? What gives you a sense of accomplishment? What motivates you?Identify what keeps them at your organization.Asking employees what they like about their position and the company can help you better understand how their “why" plays out in the day-to-day. It also provides tangible guidance for providing more exposure to the areas they enjoy and projects that match their interests. Potential questions to ask:  What keeps you here? What do you like best about your job? Are you getting what you need from the organization?  Do you feel valued? If given the opportunity, what would you like to do more of?  Less of? When do you feel most rewarded and recognized?Understand what would make them take a new role. Conversely, inviting open conversation around why an individual would potentially leave can help avoid surprises down the road. This is also valuable in recognizing any needs that are not currently being met and enabling you to identify similar opportunities and areas of development within your organization.  Potential questions to ask:  What would tempt you to leave?Is there anything you feel is missing in your role?Are you challenged?What are your long-term and short-term aspirations?Are you able to find your desired work/life balance?Welcome feedback. Provide individuals with a chance to share how they feel about these discussions and ask if they have any ideas for making them more effective moving forward. This may include insight on frequency, location or even topics they think would be valuable to cover. Encourage them to bring ideas or concerns to you at any time, even if it’s not within a scheduled stay interview or one-on-one. Follow up. After completing your discussion, capture your notes and take time to reflect on what you learned. It’s likely there are some things – even if they’re small – you can immediately change to impact an employee’s job satisfaction. Other areas may involve additional stakeholder buy in, and it’s likely there are some things you are unable to change. Communicate with individuals about steps you are taking as a result of what they shared, letting them know they are heard and supported. Revisit these conversations every quarter or six months to check in, gauge progress or shifts, and realign. The information gained in stay interviews is invaluable for aligning with employee expectations and creating a desirable work environment. Keep in mind this is not a comprehensive list of questions (and not every question must be asked in each conversation), and it is meant to be adapted to be most relevant to your specific team and situation. For more information on building loyalty among your employees, view our recent whitepaper, “Retaining Top Talent in Today’s Competitive Labor Market.”

January 2023: Labor Market Pulse

Despite a sense of economic uncertainty, the insurance labor market does not seem to be cooling in the new year. The industry ended 2022 with roughly 40,000 more jobs than the start of the year and 10 consecutive months of wage increases. Voluntary quits and job openings within finance and insurance had slight dips in November*, but remain high.  The unemployment rate for insurance carriers and related activities saw a notable increase of 2 percentage points from November to December, yet the industry’s average unemployment rate for 2022 is just 1.9%, compared to an average unemployment rate of 3.7% for the overall U.S. economy. Given what we are seeing, it would be surprising if the insurance unemployment rate stays this elevated. It’s important for insurers to remain future-focused and flexible, emphasizing talent retention and long-term priorities in 2023. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector increased to 3.5% in December.  The insurance carriers and related activities sector gained  3,800 jobs in December. At roughly 2.8 million jobs, industry employment increased by approximately 39,600 jobs compared to December 2021. The U.S. unemployment rate decreased to 3.5% in December and the overall economy added 223,000 jobs.   INDUSTRY HIGHLIGHTS On a year-to-year basis, November* insurance industry employment saw job increases in agents/brokers (up 3.5%), TPAs (up 2.2%), property and casualty (up 1.7%),  and life/health (up 1%). Meanwhile, job decreases were seen in claims (down 12.2%), title (down 9.1%) and reinsurance (down 0.4%). On a year-to-year basis, November* saw weekly wage increases in property and casualty (up 10.1%), agents/brokers (up 5.9%), life/health (up 5.8%), TPAs (up 3.9%), reinsurance (up 2.4%), and title (up 1.5%). Meanwhile, wages decreased in claims (down 0.9%).       BLS Reported Adjustments: Adjusted employment numbers for November show the industry saw an increase of 1,500 jobs, compared to the previously reported increase of 3,800 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. *The BLS JOLTS report and reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.

Talent Trends on Our Radar in 2023

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.   

Episode 9: Succession Planning: Future-Focused Strategies

Job openings have reached record levels and voluntary quits remain high within the insurance industry. However, 38% of insurers do not have any succession plans in place, according to a recent study conducted by The Jacobson Group. In this episode of The Insurance Talent Podcast, Jacobson's senior vice president of executive search and corporate strategy, Judy Busby, and managing director, Mike Abate, share the study’s highlights and discuss the industry’s succession planning readiness, as well as how organizations can take a comprehensive and future-focused approach to their plans.

Taking Charge of Your Professional Development

The start of a new season is often a time for goal setting and reflection. In the post-pandemic reality, many individuals are focusing their goals on what brings them joy and fulfillment – both in their personal and professional lives.  As you solidify your career aspirations, ensure you’re thinking strategically about how you’d like to grow and advance. If your current role is feeling more like a job than a career, now is an ideal time to rethink how you’re approaching your growth and remaining motivated. The following best practices can help focus your energy in the right areas and enable you to take charge of your professional development. Take ownership.  Even if your organization offers training or other development opportunities in house, you are ultimately responsible for your professional trajectory. Consider your career a business and think of yourself as the CEO. In this position, it is up to you to create an executable strategy to effectively reach your goals. This means seeking out and understanding the tools and opportunities available to you, not just within your immediate role, but throughout the rest of your organization and externally. Leverage your network, seek out additional insight and educate yourself on the skills needed to get to the next level. Then, set realistic timeframes and expectations for meeting your goals. Commit to ongoing improvement.  No matter where you are in your career, there will always be ways to learn and improve. Continually identify areas for growth and new skills to master in order to be prepared to take action when opportunities arise. Think comprehensively and be open to stepping outside your current role’s parameters to sharpen your skills in other areas that can have a long-term impact on your success – such as emotional intelligence or virtual leadership. As a bonus, bettering yourself as a professional often goes hand-in-hand with your personal development, positively impacting relationships and interactions in all areas of your life.  Vocalize your aspirations. Career advancement and professional development don’t typically happen by accident or coincidence. Even if you are excelling in your role, it’s unlikely you will be automatically approached with a promotion or new opportunity. Share your goals and interests with your manager and other trusted individuals within you organization. Initiate conversations around being considered for new projects, suggest areas where you might be an asset and seek out ways you can gain more exposure within your organization. Your career path does not need to be linear or traditional. In today’s evolving environment, you may identify new areas of opportunity and even recommend how your role could be adjusted or reimagined to better fill the organization’s needs.  Prioritize accountability. It can be easy to set goals at the beginning of the year and then lose sight of them due to competing priorities. As a result, accountability is essential for following through on even the best laid plans. While your manager and other individuals on your team may be helpful in discussing your progress, ensure you also have a neutral third party invested in your growth, such as an external mentor. A trusted individual who is outside your organization can hold you accountable for your progress and provide unbiased insight, while serving as a sounding board for adjusting or reprioritizing your plans.  Reframe your mindset.  As you think strategically about your growth, consider if anything could derail your ability to meet your goals. Sometimes, what holds people back is their own fear of failure, and even fear of success. If this seems like a potential hurdle, focus on how you can make the greatest impact, rather than what’s at stake for you as an individual. This is also helpful if you’ve reached a plateau or need clarity around your next steps. Ask yourself questions such as, what can I do to be a better use in this organization? Or how can I have a greater impact in society? Shifting your focus can help alleviate your doubts and help you feel like you’re working toward a greater mission. Be your own advocate. In some cases, your current organization may not be able to provide the growth opportunities you desire. If you have been honest and vocal in your career conversations, improved your skills and taken all the right steps to advance, it may be time to consider moving on if there are no signs of results. Tough conversations may come into play at this point; however, a good manager and leadership team won’t try to hold you back or make you feel guilty for considering opportunities they know they can’t provide.  By taking an intentional and proactive approach to professional development, you’ll be positioned to make strides in the future. Openly communicate, take ownership for your growth and don’t forget to celebrate your accomplishments along the way!

Recruiter Report: The Pros and Cons of Holiday Recruiting

The holiday season can be a unique time for recruiting. However, while there are often challenges in terms of scheduling and time off, there’s also an opportunity to recruit top talent in a less competitive market. Whether you are looking to fill a position within the next few weeks or considering holding off on new searches until after the holidays, there are multiple factors to take into account. In this edition of Recruiter Report, we focus on the timeframe between Thanksgiving and the new year, answering the question, what are the pros and cons of recruiting during the holidays? Professionals may be more willing to speak with recruiters. The end of the year can be an introspective time for many individuals. Often workloads are lightening up and professionals are reflecting on the past year, as well as considering their next steps careerwise. This may present an opportunity to have future-focused conversations with individuals who are not typically open to discussions around making a move.   There is less competition. Hiring often slows toward the end of the year. This can work to your advantage, as fewer companies are actively recruiting and there is less risk of another company beating you to an offer. While you may see fewer candidates, it’s possible one of them is the right individual for your position. With less recruiting noise, they’ll be able to give your role more focused attention than they might at other times of the year.  Candidates are often more receptive to accepting an offer. The holidays are commonly a “feel good” time for many professionals, bringing renewed optimism and energy. If individuals have been unhappy within their role or have been considering making a change, it’s a chance for them to start the new year fresh and with a sense of anticipation.  Individuals may be delaying professional decisions until after the new year. While many individuals are actively setting professional goals this time of year, others desire to disconnect and focus on priorities outside of work. Taking vacations, visiting family and juggling school holiday schedules may take precedent over interview opportunities. However, these same individuals may reach out later, once they are back in a career-focused mentality. Scheduling is often more difficult. With company holidays and staggered personal vacation time, it can be more difficult to coordinate interviews and even internal hiring discussions this time of year. Be as efficient as possible in your planning, leveraging virtual interviews and limiting unnecessary meetings. Consider how you’ll approach possible hurdles that could slow down the hiring process, such as being ready to make an offer even if your human resources contact is out of office.  Bonuses and paid time off may be on the line. Depending on the candidate’s current company, they may be sacrificing a year-end bonus or accrued paid time off if they leave. Ensure you’re understanding any hesitations early on to avoid an offer being unexpectedly derailed, especially if you’re able to counteract this potential loss with a signing bonus or additional PTO days.   Additional Considerations In addition to acknowledging the pros and cons of the season, there are a few best practices that are even more essential during the holidays.  Be upfront and honest with your communication.  Regardless of the time of year, clear and consistent communication is key. In initial conversations, be clear about when you anticipate filling a role, especially if it is after the first of the year. This can help clear up any concerns a candidate may have around existing year-end plans and holiday travel. At the same time, be straightforward in asking about their motivation for taking a new role, especially if you’re at risk of the candidate getting a counteroffer or changing their mind.  Be respectful and realistic when it comes to an individual’s time.  Remember candidates are people with families and outside responsibilities. Be respectful of their holiday time and avoid making unrealistic requests in terms of interviews. For instance, if you usually ask individuals to travel to your physical location, consider allowing interviews to temporarily take place virtually. Be clear on next steps and follow up accordingly to avoid any ambiguity.  Don’t disregard top talent, even if you’ve seen limited candidates.  For some, it may be difficult to feel comfortable extending an offer if you’ve interviewed fewer candidates than usual. However, as a rule in today’s market, if you’ve found someone who is right for the role, don’t wait to make an offer. During the holidays, this is even more important, as timeframes can tend to drag and individuals who were once excited about a new position can become stressed and frustrated. If possible, try to extend an offer and secure acceptance prior to taking your own extended vacation.  Depending on your organization’s needs and your team’s ability to be responsive and efficient throughout December, recruiting during the holidays can have many benefits. Be cognizant of the potential downsides of holiday hiring and be as open and transparent as possible with candidates. Here’s to successful recruiting through the end of the year and beyond!  For more insight on current recruiting issues and trends, read past editions of Recruiter Report here. 

Polling Results: How are Organizations Navigating the Current Talent Marketplace?

Organizations are continuing to navigate new challenges and enter uncharted territory as we move toward 2023. To help leaders gain a better understanding of the current talent marketplace, we’ve polled our LinkedIn audience on a number of timely talent topics. Below is a compilation of the results and a snapshot into the industry’s take on a variety of issues. As insurers aim to expand their talent pools, focusing on a candidate’s skills over experience is becoming more common. 57% of organizations have placed more emphasis on recruiting for skills in the last year than they previously did. In the candidate’s market, recruiters and hiring managers have had to re-evaluate how they approach recruitment in order to remain competitive. While job hopping may have previously been seen as a red flag, 26% of respondents noted it does not impact their hiring decisions. 68% said they would ask the candidate to explain and 6% shared they would immediately pass on the individual. With a competitive labor market and high demand for top talent, many insurers are experiencing a rise in counteroffers. 45% of respondents noted they have been successful in countering a counteroffer from an individual’s current employer while 41% shared they have not. Counteroffers have become more common as organization’s aim to retain their talent. However, while preventing incumbent employees from leaving often seems like a win, their success in terms of long-term loyalty is debatable. 65% of respondents feel counteroffers are only successful in retaining employees short-term.  The industry is experiencing continued movement across all professional levels; however, just 12% of individuals feel their organization is prioritizing succession planning and 70% say their organization is not. Despite a challenging labor market, 76% of professionals shared their organizations do not have formal retention plans in place. To read more on these topics, view our Recruiter Report blog series. Follow The Jacobson Group on LinkedIn for more insurance industry insights and to share your thoughts in our future polls.

Jacobson Employee Spotlight – Q4 2022

It's hard to believe 2022 is already coming to an end. Here at Jacobson, we’re grateful for our team members and know they’re the key to our company’s success in the new year and beyond. Below we highlight a few of these individuals and their roles.  Learn about more of our Jacobson colleagues by viewing past editions of our Employee Spotlight here. For monthly Employee Spotlights, follow our Facebook page. BRESHAWN TRIMBLE Accounting Coordinator, 6 years at Jacobson Hometown: Chicago, Illinois Alma Mater: Chicago State University  Describe Your Role: I started as the payroll coordinator, but I am currently the accounting coordinator. I handle accounts payable and process the temporary staffing payroll. Favorite Dessert: Carrot cake Jacobson in Three Words: Motivating, Flexible, Progressive First Concert: Nelly Favorite Thing About Working at Jacobson: My favorite thing about working at Jacobson is the work-life balance. Best Place You Have Ever Visited: The Michigan Wolves football games with 106,00 people. When You Grew Up, You Hoped to Become: A lawyer One Thing You Are Grateful For: I am grateful for my village/family. MARCI ZIEMBA HR Generalist, 3 years at Jacobson Hometown: Rzeszow, Poland Alma Mater: Roosevelt University Describe Your Role: As the HR Generalist, I am lucky enough to get to meet and interact with every single person here at Jacobson! I take care of new hire onboarding, corporate training, policies and procedures, and employee benefits. Favorite Dessert: I'm a huge sucker for a warm brownie or cookie. Jacobson in Three Words: Inclusive, Collaborative, Caring One Thing You Are Grateful For: I am grateful that I am surrounded by such supportive people in my life - both personally and professionally. First Concert: My first ever concert was "Just 5," which was a Polish boy band from the late '90s. My grandma took my brother and me, and it's a memory I'll never forget.  Best Place You Have Ever Visited: I would say it's a tie between Greece and Aruba.  How Do You Stay Motivated While Working from Home: I am SUCH a planner, so I always keep my daily to-do list up to date. I also love to break my day up by taking a quick workout or walk outside. When You Grew Up, You Hoped to Become: A forensic scientist or a Realtor Want to join our team? View our corporate careers page here. 

2023 Insurance Talent Trends

It's hard to believe 2023 is almost here. From continued talent realignment to the increasing need to upskill and reskill employees, we're already seeing a number of interesting trends that will impact the insurance industry next year. Download our guide to learn about the trends that will have the most impact on the industry in 2023.

December 2022: Labor Market Pulse

The insurance industry is closing out 2022 with low industry unemployment and a high level of open finance and insurance positions. Despite ongoing economic uncertainty and a pending recession, insurance remains a candidate’s market as we enter the new year.  Voluntary quits remain elevated within finance and insurance; however, retirements saw a decline from 13,000 in September to just 3,000 in October*. Organizations are contemplating how to best move forward and it’s likely we’ll continue to see ongoing reshuffling in early 2023, as more permanent plans and expectations are enforced, further impacting employee-employer relationships.  AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector increased to 1.5% in November.  The insurance carriers and related activities sector gained  3,800 jobs in November. At roughly 2.8 million jobs, industry employment increased by approximately 43,100 jobs compared to November 2021. The U.S. unemployment rate remained at 3.7% in November and the overall economy added 263,000 jobs.   INDUSTRY HIGHLIGHTS On a year-to-year basis, October* insurance industry employment saw job increases in agents/brokers (up 3.8%), property and casualty (up 2.1%), TPAs (up 1.7%), and life/health (up 0.7%). Meanwhile, job decreases were seen in claims (down 8.2%), title (down 7.3%) and reinsurance (down 1.5%). On a year-to-year basis, October* saw weekly wage increases in: property and casualty (up 9.7%), TPAs (up 7.4%), life/health (up 5.4%),  agents/brokers (up 4.7%), reinsurance (up 4.7%), and title (up 3.6%). Meanwhile, wages decreased in claims (down 5.5%).        BLS Reported Adjustments: Adjusted employment numbers for October show the industry saw an increase of 10,200 jobs, compared to the previously reported increase of 9,400 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. *The BLS JOLTS report and reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.

Health Highlights: Q4 2022

The health insurance industry continues to evolve, as insurers strive to best meet changing member needs and provide a holistic member experience. Now, as many health plans aim to grow their Medicare Advantage business, the ability to effectively deliver on these initiatives has become a key differentiator. According to the Kaiser Family Foundation, there are 3,998 Medicare Advantage plans available for the 2023 enrollment period. On average, a Medicare beneficiary can choose from 43 Medicare Advantage plans, compared to just 20 plans five years ago. As Medicare Advantage open enrollment approaches, insurers are working to stand out in a highly competitive market. Our team is ingrained within the health insurance space and has frequent conversations with industry leaders about their current areas of focus. Here are a few considerations and trends of note: Increased InnovationCurrently, 45% of seniors enrolled in Medicare are enrolled in Medicare Advantage, and that percentage is expected to increase to more than 50% by 2025. There’s an opportunity for health plans to gain market share, making it important to be progressive and creative within all areas of the business. This has led many health plans to prioritize innovative technology and solutions to attract and retain an increasingly complex and diverse population, while also enhancing member satisfaction and encouraging preventive care throughout members’ entire healthcare journeys. In turn, reaching these goals has a positive impact on multiple key success indicators, such as NPS and HEDIS.We’re seeing a lot of focus on technology, analytics and marketing roles, as health plans determine how to best integrate data and create a personalized experience, while effectively communicating with their members’ caregivers, doctors and family members. Offering the right tools, including intuitive apps, online portals and streamlined communication platforms is essential. Individuals are assessing how they feel at each touchpoint and won’t hesitate to move on if they feel their needs can be better met elsewhere. Tight Labor MarketThe insurance industry’s unemployment rate is just 1.5% and our recent Q3 2022 Insurance Labor Market Study found 61% of life/health insurers are planning to add staff in the coming months. However, there is limited available talent within the health insurance space, often hindering insurers from meeting their hiring goals. Given that individuals with Medicare Advantage experience are highly sought after across all functional areas, these broader hiring challenges are further compounded. Health insurers must adapt their approach to recruiting to stand out from their competitors. This includes revamping position descriptions to resonate with a broad audience and highlighting the organization’s unique attributes. Additionally, recruiting for transferable skills and potential over specific technical experience is critical for expanding talent pools and remaining future-focused. Today’s accelerated pace of hiring has made it essential to quickly understand what a candidate values and efficiently communicates how the organization can meet their needs and contribute to their longer-term goals. Along with competitive compensation, flexibility remains key for most candidates, even as some insurers bring employees back into the office. Emphasis on Employee Retention and GrowthAt the same time, the reshuffling of talent continues and managers must be proactive and intentional in retaining their current workforce. An organization’s employees are its competitors’ candidates and are likely being actively recruited in the current climate. Increased regulations, pricing transparency, burnout and abundant job opportunities can all contribute to disengagement, making it necessary for managers to have candid retention and professional development conversations with their employees. By taking an intentional approach to employee retention, insurers can uncover individuals’ goals and motivators, better aligning rewards and longer-term career progression. If possible, providing additional training on emotional intelligence and management skills can help grow future leaders from within. This also provides plans with the opportunity to uncover areas where outside talent or project teams may be needed. Comprehensive Data and Creative AnalyticsNot surprisingly, technology roles are the most in demand of all functional areas, according to our Q3 2022 Insurance Labor Market Study. However, life/health insurers also consider technology positions the most challenging to fill. In fact, recruiting difficulty for technology within life/health hit its highest level in our study’s history. Health plans have access to more comprehensive data points than ever before. Having the right talent in place to capture, interpret and strategically leverage this information is vital. This extends from understanding members and their needs when they call in, to identifying emerging health trends and capturing broad information about external factors that may impact a population’s health.In the highly competitive Medicare Advantage market, the right talent enables you to lay the foundation for ongoing success. Effectively recruiting and retaining these individuals can lead to a seamless, holistic and innovative member experience, helping plans stand out among an increasing number of options.

Compass 15.4: Comprehensive Succession Planning for Future Success

This quarter’s Compass feature article explores best practices for effectively approaching succession planning beyond the executive ranks. The newsletter also includes an overview of the industry's current labor market and recent executive-level job changes.