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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.

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Insurance: The MVP of the Big Game

This year, the Cincinnati Bengals and the Los Angeles Rams will meet at the SoFi Stadium in Inglewood, California to compete for the ultimate football victory. While the players on the field and a love of the game are what attracts the crowds, insurance is one of the many moving parts that keep the game running smoothly - both in the stadium and on TV. Here are some insurance facts about the Big Game you might not have known: Insuring the Big Game is a multi-layered process costing hundreds of millions of dollars overall, but without it the game could not go on. Are you planning to host your own celebration for the Big Game this year? Share your game day plans with us in the comments below.

February 2022: Labor Market Pulse

While employment for insurance carriers and related activities has been on the rise for the past six months, revised BLS numbers* show average employment for 2021 was roughly 2.8 million, about 57,000 fewer jobs than originally reported. However, the tight labor market persists, and industry hiring is not keeping pace with its number of quits. This is evidenced by lower annual industry averages for both unemployment and jobs in 2021, compared to 2020. At the same time, wage increases were extremely high year-over-year. Overall, industry wages increased by 7% from December 2020 to December 2021. Life/health experienced a 6.5% increase and property/casualty experienced an 8.7% increase in that timeframe. As salaries rise and the war for talent continues, insurers must focus on ways to expand both their total rewards packages and their talent pools. To learn more about the industry’s hiring outlook, join us February 10 for a complimentary webinar analyzing the results of our Q1 2022 Insurance Labor Market Study. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector decreased to 1.7% in January.  The insurance carriers and related activities sector gained 4,800 jobs in January. At roughly 2.8 million jobs, industry employment decreased by approximately 2,200 jobs compared to January 2021. The U.S. unemployment rate increased to 4% in January and the overall economy added 467,000 jobs.   INDUSTRY HIGHLIGHTS On a year-to-year basis, December** insurance industry employment saw job increases in claims (up 16.1%), title (up 7.5%), agents/brokers (up 4.9%) and TPAs (up 1.4%). Meanwhile, job decreases were seen for life/health (down 4.6%), property and casualty (down 5.5%) and reinsurance (down 7.1%).  On a year-to-year basis, December** saw weekly wage increases in reinsurance (up 24.8%), TPAs (up 9%), property and casualty (up 8.7%), agents/brokers (up 6.6%), life/health (up 6.5%) claims (up 4.4%), and title (up 3.8%).      BLS Reported Adjustments: Adjusted employment numbers for December show the industry saw an increase of 4,500 jobs, compared to the previously reported increase of 3,100 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. *The BLS made its annual revisions on February 4, adjusting employment numbers for the past five years.* **The BLS 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 Strategies for a Successful 2023 Open Enrollment Season

Throughout the past few years, planning ahead for open enrollment and annual enrollment periods has become increasingly critical. Now, with the industry facing an incredibly tight labor market and organizations fighting an ongoing war for talent, securing the right sales agents early on is more important than ever to overall success. Last year, health plans shared a few of their lessons learned with us. As we enter 2023 OEP/AEP, this advice continues to ring true. The below checklist provides these and other best practices to help ensure your team is prepared to meet and exceed your members’ expectations this fall.Review past years’ talent strategies and potential scenarios. A consistent theme in recent years is the need to prepare for the unpredictable. Be thorough in your enrollment talent strategy, focusing on considerations and challenges that arose in past years, as well scenarios that could play out this year. Illness (of staff or their family members), isolation periods, school closures, lack of childcare and attrition are a few potential hurdles that can be mitigated with smart planning.Consider your current resources and areas where you may need additional help. Some managers may see an influx of work as a reason to increase current employees’ workloads. However, we’re currently in a candidate’s market; professionals have options and are not afraid to make career moves. Keeping employees satisfied, engaged and productive is key during busy periods. As you plan your strategy, be aware of your current employees’ individual needs and how you can help them perform at their highest standards. If you risk spreading your internal staff too thin, consider ways interim talent can help ease their workloads and help avoid burnout.Partner with a knowledgeable staffing partner in advance. Even if your needs are not solidified, begin talking with your staffing partner well ahead of enrollment season. When choosing a firm, consider their breadth and depth of experience, as well as their industry networks. Staffing firms that understand your business and unique challenges will be well-equipped to find the right talent to meet your needs, allowing you to remain focused on your larger business goals. Create a streamlined onboarding process. In the current environment, there are often many logistics involved in successfully onboarding a new employee. To avoid delays, make sure your larger team (staffing agency, legal, human resources, etc.), is prepared to quickly process onboarding forms. Gain an understanding of employees’ past and current licensures, and be prepared to secure and ship computers and other equipment. Keep in mind longer shipping lead times and any other potential barriers to getting employees up and running on time. Build strong connections within your team.Especially during heavy workloads, a sense of camaraderie is essential for maintaining positive morale and engagement. Consider ways you can create a sense of connection among team members who may be physically distanced from one another. This may be through healthy competitions, recognition programs and enhanced communications tools. Additionally, ensure you’re concluding temporary employees’ projects on a positive note, making it more likely high performers will return the following year.Continue to grow and learn. At the conclusion of 2023 OEP/AEP, schedule time to reflect on the success of your talent strategy. What worked well? What would you have changed? How can you better plan for 2024? By taking the time to review your performance, you’ll be prepared to fine tune your approach and continue achieving greater success each year.As the shortage of skilled and experienced workers continues to be felt across the industry, planning ahead can help mitigate stress on your core team, while providing optimal service to your members. To talk more about talent considerations for OEP/AEP, reach out to our team.

Episode 4: Sharing Key Talent Trends for 2022 – Insights from Jacobson Leaders

Host Greg Jacobson is joined by Jacobson colleagues to discuss the trends impacting insurers as they fine tune their talent strategies for 2022. From adapting management styles for long-term hybrid workforces to adjusting hiring processes to meet changing candidate expectations, there are several areas of consideration to remain competitive in today’s tight labor market. Download the full 2022 Insurance Talent Trends Guide at this link: https://content.jacobsononline.com/2022-insurance-talent-trends.

Compass 15.1 Generation Z: Attracting and Retaining the Youngest Members of the Workforce

This quarter’s Compass feature article explores the importance of engaging young talent and the different ways your organization can help them grow into future leaders. The newsletter also includes an overview of the industry's current labor market and recent executive-level job changes.

January 2022: Labor Market Pulse

While industry unemployment rose slightly at the end of 2021, the insurance carriers and related activities sector experienced six consecutive months of gradual job growth and reached a record high for annual average employment. Recent growth appears to be primarily driven by title, claims and agent/broker roles. The BLS also reported 407,000 job openings within the larger finance and insurance industry for November*. This is the industry’s highest level of open jobs in the report’s 20-year history, with the most recent decade reflected in the graph below. While we’re seeing a steady increase in employment and a high number of open roles, the level of quits within finance and insurance is also at a 10-year high. The Great Reshuffle persists, making it essential for insurers to continue evaluating their approach to recruitment, retention and engagement in 2022. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector increased to 1.9% in December.  The insurance carriers and related activities sector gained 3,100 jobs in December. At roughly 2.9 million jobs, industry employment decreased by approximately 800 jobs compared to December 2020. The U.S. unemployment rate decreased to 3.9% in December and the overall economy added 199,000 jobs.   INDUSTRY HIGHLIGHTS On a year-to-year basis, November** insurance industry employment saw job increases in title (up 8.6%),  agents/brokers (up 1.5%) and claims (up 1%). Meanwhile, job decreases were seen for reinsurance (down 4.1%), property and casualty (down 2.8%), TPAs (down 1%) and life/health (down 0.5%).  On a year-to-year basis, November** saw weekly wage increases in TPAs (up 6.1%), claims (up 3%), life/health (up 2.9%), agents/brokers (up 1.1%) and reinsurance (up 0.5%). Meanwhile, wage decreases were seen for title (down 4.1%) and property and casualty (down 0.7%).      BLS Reported Adjustments: Adjusted employment numbers for November show the industry saw an increase of 2,800 jobs, compared to the previously reported increase of 2,500 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. *November is the most recently available JOLTS information from the BLS. **The BLS 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.

Insights for Personal and Professional Success in 2022

As 2022 begins, it’s likely you’re reflecting on last year’s accomplishments and refining your goals for the new year. For many individuals, personal and professional aspirations are more intertwined than ever before, a result of long-term remote work, shifting priorities and continued unpredictability. Below, a few of our colleagues at The Jacobson Group share how they’re preparing for a successful year. We hope these insights provide inspiration as you set and adjust your own goals for 2022. Prioritize work-life balance. Samantha Banes, Recruiter: Working from home has many benefits, but I have learned it tends to make unplugging more difficult. To be successful, both professionally and personally, we have to give ourselves the breaks and rest we deserve. I’m going to commit to a couple hours each day with no screen time and instead focus on doing something productive for myself. Alison Wetmore, Assistant Marketing Manager: This year, I’m focusing on my work-life balance and ensuring my home office is inviting and inspiring. I am setting specific work hours and have been able to arrange my schedule to fit in workout time to help keep me healthy and boost my focus. Sarah Karvel, Engagement Director: I am setting myself up for success in the new year by being intentional in how I allot my time between my career and everything else that makes life special. This includes a daily commitment to not procrastinate (the temptation is real), which will alleviate stress for not only me, but my cherished colleagues as well. Joanne Merritt, Recruiter: I hope to work both remotely and in our downtown office in 2022. On the days I am working remotely, my goal is to get to the gym before work. I am also committed to strengthening my insurance knowledge and expanding my expertise within the industry. Embrace small wins. Jessica LaFountain, Supervisor, Researching and Recruiting: I’m reflecting on what worked well in 2021 and putting that into practice for 2022. I’m also focusing on taking time to recognize work wins, both big and small, whether that’s on my own or with my team. Ryan Jacobson, Recruiting Manager: I’m focusing on small goal setting! I’ve always operated by seeing the big picture and working toward the end goal, but I’m setting up smaller goals along the way to show movement and keep me on track this year. I did this on the personal side last year, with finally getting into working out (thanks, pandemic!) and I have seen a lot of results from taking things slower, while staying consistent. This has also improved my work-life balance by helping me be in the moment when I’m outside of work, instead of thinking about work 24/7! Stay positive and present. Catherine Prete, Senior Vice President, Operations: I like to start simple and strong with a positive mental mindset when planning for a new year. I am a planner by heart and trade, so I typically start by identifying short-term and long-term goals, necessities, and opportunities. I then think about resources and timelines. Once I have a broader view of what the next 12 months look like I create small plans to execute. I am fortunate to work with a really strong team of people that help me execute a lot of quality work. Although it might sound like this is specifically for my professional life, I honestly take a very similar approach to my personal life too. Start positive, plan well, be agile and end strong! Emma Olson, Contracts Administrator: I want to remember to step back and take a breather in 2022. I am also trying to find the small, everyday joys like the sunshine after a couple of dreary days, a really good cup of coffee in the morning or a good conversation with a friend. I also want to commit to being better about leaving work at work, even in a remote work environment. In addition, I plan to work on maintaining a productive atmosphere and strengthening my professional connections. Overall, I aim to focus on how I can do my job better and leave the spaces and people around me better than I found them! Caitlyn Zarlengo, Recruiting Manager: I plan to worry less about things that are out of my control, focus on what I can control and keep a positive mindset. Focus on what energizes you. Michael Faso, Recruiter: I plan to encourage and motivate myself and my entire team to get the best results possible not only for ourselves, but for the larger company. I want to make sure that this new year I’m focused on the right things to help myself grow personally and professionally. Judy Busby, Senior Vice President of Executive Search and Corporate Strategy: After the past two years we’ve experienced, this year is a time for doing more of what’s energizing. Put your energy where you can make the most impact to your organization. Research suggests when we do more of what we like, we contribute at a higher level and achieve better results. Here's to getting results AND being fulfilled in 2022! Whether you’re starting your first job in 2022 or progressing in your career, be mindful of what makes you most productive and fulfilled. By taking time to focus on how you can be most effective within your own career and personal life, you’ll be well-positioned for a successful 2022.

Talent Trends for Insurers to Watch in 2022

Entering 2022, we mark nearly two years of adapting to the effects of the COVID-19 pandemic. Shifting employee expectations and long-term virtual and hybrid work environments, along with a tight labor market, will all impact how insurers approach their talent strategies in the new year. Below are a few of the key trends we’re anticipating. To read more, download our complete 2022 Insurance Talent Trends Guide. Industry reshuffling continues. Insurance professionals will continue to make moves in 2022 as they evaluate their professional decisions and futures within their current companies. Unfulfilled employees won’t hesitate to move on, making it vital for leaders to focus on retention, engagement and development. The “War for Talent” rages on. In terms of recruitment, insurers will need to further expand their talent pools and be creative in defining the skills and qualifications necessary for a role’s current and future demands. Recruiting timelines will accelerate as hiring managers experience increasing pressure to make quick decisions and present competitive and tailored offers. Insurers prioritize DEI with increased accountability. Across all industries, organizations are being held accountable for their progress within diversity, equity and inclusion. Forward-thinking insurers are making DEI a business priority and putting the necessary resources, strategies and goals in place in 2022. Professional connections must be built and strengthened. It’s been nearly two years since many individuals have seen their colleagues in person, including newer hires who may have never met teammates face-to-face. Managers will need to be cognizant of how they are connecting their employees to each other, as well as to individuals in other departments, and be proactive about building strong working relationships. Corporate culture transcends physical office spaces. Rather than attempt to retrofit in-office cultures to the remote landscape, organizations are redefining how company culture can be experienced across different locations. Leaders must focus on their company values and determine how those values can best translate in a virtual or hybrid environment. Successful return-to-office plans are thoughtful and strategic. Individuals have become accustomed to working from home and have calibrated their habits and expectations accordingly. Leaders who plan to bring individuals back into the physical office – even on a part-time basis – will need to establish customized plans that fit employees’ current lifestyles and comfort levels, while also meeting the company’s needs. Management and leadership skills are prioritized. As the role of a leader evolves, soft and interpersonal skills are setting exceptional leaders apart and contributing to the overall productivity and satisfaction of their teams. Organizations will benefit from refreshing their leadership development programs and focusing on skills such as emotional intelligence, communication, critical thinking and coaching, in addition to technical knowledge. Flexibility reigns. Flexibility has been a key theme throughout the pandemic and will continue in 2022. Maintaining flexibility in everything from work schedules and locations to career growth and total rewards packages will be essential to employee satisfaction this year. While the industry will continue to evolve in 2022 and undoubtedly present unforeseen shifts and challenges, insurers that focus on employee needs and expectations, remain agile, and prioritize strong leadership will come out ahead. For more on what insurers can expect in the new year, view The Jacobson Group’s full 2022 Insurance Talent Trends Guide.

Episode 3: Prioritizing DEI: How Two Organizations Are Achieving Lasting Change

Diversity, equity and inclusion have been heavily discussed among insurers over the past several years. However, to make a lasting impact, leaders must treat DEI as a business priority and commit to cultivating an inclusive culture within all levels of the organization. In this episode, Brett Carter, managing director of The Jacobson Group, joins host Greg Jacobson to talk with two insurance leaders who have made significant strides within DEI, building it into their company’s culture and values. Ivy Kusinga, chief culture officer at Chubb, and Margaret Meister, president and CEO of Symetra, sit down with us to share how they’re achieving lasting change within their organizations.

2022 Insurance Talent Trends

As we near the two-year mark of COVID-19, many of the key themes for successful talent strategies remain from the previous year. Employers must stay agile and flexible, focus on engaging their teams, and strive to meet employees' changing expectations. Download our guide to learn about the trends we expect will have the most impact on the insurance industry in 2022.

December 2021: Labor Market Pulse

We’re closing out 2021 on a positive note, with a low unemployment rate and the addition of new jobs within the insurance carriers and related activities sector. This year has seen numerous shifts, including changing candidate expectations, an intensifying war for talent and continued reshuffling. The unemployment rate for insurance carriers and related industries remains low, with a slight increase in November to 1.4%. We’re also experiencing a significant amount of turnover in the larger finance and insurance industry. While this data is slightly delayed*, retirements and quits were high in September, reflective of “the Great Resignation.” Hiring has also accelerated within finance and insurance, contributing to the industry’s continued reshuffling. We anticipate this movement will persist throughout the end of the year. Insurers must continue to focus on monitoring employee needs and determining how to best meet their individual expectations in order to retain talent and avoid losing high performers to their competition. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector increased to 1.4% in November.  The insurance carriers and related activities sector gained 2,500 jobs in November. At roughly 2.9 million jobs, industry employment decreased by approximately 200 jobs compared to November 2020. The U.S. unemployment rate decreased to 4.2% in November and the overall economy added 210,000 jobs.   INDUSTRY HIGHLIGHTS On a year-to-year basis, October** insurance industry employment saw job increases in title (up 10.8%) and agents/brokers (up 1.7%). Meanwhile, job decreases were seen for reinsurance (down 3.4%), claims (down 3.3%), property and casualty (down 3.1%), TPAs (down 0.8%) and life/health (down 0.4%).  On a year-to-year basis, October** saw weekly wage increases in claims (up 3.6%), life/health (up 3.3%), TPAs (up 1.7%), agents/brokers (up 0.4%), reinsurance (up 0.3%) and property and casualty (up 0.1%). Meanwhile, wage decreases were seen for title (down 6.5%).      BLS Reported Adjustments: Adjusted employment numbers for October show the industry saw an increase of 3,800 jobs, compared to the previously reported decrease of 900 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. *September is the most recently available JOLTS information from the BLS. **The BLS 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.

Jacobson Employee Spotlight – Q4 2021

As we near the end of 2021 and continue to celebrate our 50th year providing talent to the insurance industry, we’re more thankful than ever for the dedicated individuals who are committed to helping our clients meet their talent goals. Below we highlight a few members of our team 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. SHELBY PUNKE Senior Recruiter, 6 years at Jacobson Hometown: Mokena, Illinois Alma Mater: Illinois State University Describe Your Role: As a senior executive recruiter, I perform outreach to recruit and screen candidates for executive and c-suite roles. I work closely with both a researcher and an engagement director on each search. What Motivates You? Knowing the work I am doing helps people with their careers Jacobson in Three Words: Supportive, Respected, Fun Ideal Weekend Plans: Spending time with family and my kids Bucket List Item: My husband and I love to travel, and want to see as many places as we can! Favorite Dessert: Brownie sundae Ideal Lunch Break: Eating outside and taking my dog for a quick walk on a sunny day! TANYA RINSKY Senior Account Manager, 2 years at Jacobson Hometown: Cincinnati, Ohio Alma Mater: University of Cincinnati Describe Your Role: I cultivate and maintain the growth of the organization’s health business while managing day-to-day engagement with clients. I work closely with our internal team to provide health organizations with the temporary staffing and subject matter experts solutions they need to effectively manage workload fluctuations, special projects and other short-term needs. Favorite Movie: The Birdcage Random Fact: I won three mock trial state competition awards in high school and was awarded MVP in my argumentation class in college. Ideal Weekend Plans: Heading to a different Chicago neighborhood to explore Best Piece of Advice You Were Ever Given: Trust your intuition. Bucket List Item: To drive cross-country to California Ideal Lunch Break: Running an errand, checking off a personal to do item MILENA WASINSKA Administrative Coordinator, 6 months at Jacobson Hometown: Czarna Bialostocka, Poland Alma Mater: Proud Rooseveltian (Roosevelt University)  Describe Your Role: I work in administration and operations. My team supports other departments with administrative procedures, reporting, etc. I also handle temporary staffing equipment returns and conduct monthly, quarterly and annual reporting on technology tools. Jacobson in Three Words: Diverse, Experts, Family Favorite Thing About Working at Jacobson: I love the diversity of Jacobson, we’re all so wonderfully different. Ideal Weekend Plans: On my back deck with something nice to drink, basking in the sun with my dog Bucket List Item: Visit Greece Best Piece of Advice You Were Ever Given: My grandma used to always say, “Be quiet and of a humble heart," probably because I was always too loud and proud. Jacobson Superpower: I will not say "no" to any challenge. For more about what makes Jacobson a great place to work, read our 50th anniversary post.