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Latest Insurance Talent Perspectives

Building and Maintaining a Strong Employer Brand

In today’s competitive labor market, a strong employer brand is a key differentiator in recruiting top talent, reducing costs, enhancing the candidate pool, and retaining high performers by instilling pride in their roles and company. 

View our latest white paper for tips to ensure your company represents itself as an employer of choice.

Q3 2024 Insurance Labor Market Study Results

The Jacobson Group and Aon conduct a Semi-Annual Insurance Labor Market Study to examine industry hiring and revenue trends and projections. The findings of our Q3 2024 iteration reflect a relatively stable labor market, with modest job growth.

Download the results to explore 2024’s staffing forecasts and hiring plans for the insurance industry.

Combatting the Finance and Accounting Talent Shortage

Faced with a shallowing pool of emerging talent and a workforce nearing retirement, finding qualified accounting and finance professionals has been an intensifying challenge for the industry. A comprehensive multi-prong approach is necessary to cultivate a workforce that can meet evolving demands and ensure operational continuity.

Read our blog post for insights on staying ahead of the growing finance and accounting talent crisis.

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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.

Boardroom View 1.4: Five Considerations for Successfully Onboarding New Directors

This issue's feature article discusses how onboarding plays a vital role in the effectiveness and impact of a new board member. There are a few important considerations to ensure an effective and comprehensive onboarding experience.

2020 Talent Trends

The insurance industry is faced with a quickly evolving talent market. To adapt to this new marketplace, insurers must utilize blended workforces, inclusive hiring practices and human-focused automation. By acclimatizing to these new trends, companies can prepare for the future of work and thrive in 2020.

Jacobson Employee Spotlight – Dec. 2019

At The Jacobson Group, we’re dedicated to our employees and their professional development and growth. Each quarter, we present the Bravo Award to one of our hardworking employees. The award recognizes individuals who have exemplified outstanding performance, service, and commitment to our core values and goals. This quarter, we presented this award to Kelly Hudak, lead recruiter. Get to know Kelly and a few of our corporate employees from across the company below. View last month's edition of our Employee Spotlight here. KELLY HUDAK Lead Recruiter, 11 years at Jacobson Hometown: Muskegon, Michigan Alma Mater: The University of Notre Dame Describe Your Role: I focus on filling interim roles for our clients. Finding the right candidate for the right client at the right time is a bit like marketing.  Favorite Thing about Jacobson: My favorite thing is the candidates. I love hearing about their experiences and working to find them their next great fit. Jacobson in Three Words: Adaptable, Integrity, Teamwork Surprising Fact about You: In my four years at Notre Dame, I never missed a single home football game. Bucket List Item: I would love to travel through Ireland.  TAYLOR DEVER Client Advisor, Life, 3 years, 6 months at Jacobson Hometown: Grand Rapids, Michigan Alma Mater: Hope College Describe Your Role: I provide life insurance companies with temporary support when they don't have enough talent to handle their workloads. I work mainly with actuarial clients, but I do a lot of underwriting, compliance and operations work as well. Favorite Thing about Jacobson: It would have to be the summer outing. It's great to have everyone come in and spend time together in a non-office setting.  Jacobson in Three Words: Inclusive, Flexible, Unique My Superpower: Making dad jokes Surprising Fact about You: I want to go back to Sevilla, Spain, where I studied abroad in college. PARKER SMITH Business Development Coordinator, 9 months at Jacobson Hometown: Columbus, Ohio Alma Mater: Columbia College Chicago Describe Your Role: I maintain existing relationships with current clients while simultaneously building new relationships with prospective clients. I also manage and set up meetings and conference calls to connect my team with individual businesses, leaders and health plans. Favorite Thing about Jacobson: I love being able to work with such thought-provoking and engaging colleagues. Also, the work-from-home flexibility is a HUGE perk. Surprising Fact about You: When I was 8 years old, I won second place in a statewide Oreo-stacking contest.  Favorite Movies: All of the Shrek movies Bucket List Item: I would like to hike the Rainbow Mountain (Vinicunca) in Peru. CHAD RECORD Assistant Vice President, Life, 9 years at Jacobson Hometown: Lemont, Illinois Alma Mater: University of Illinois at Chicago Describe Your Role: I grow Jacobson's brand in the life insurance space by providing consultants to organizations with complex business challenges.  Favorite Thing about Jacobson: Our employee appreciation summer outing is the best. Whether it's at an arcade, a White Sox game or simply a bar, it is summertime in Chicago and you can't go wrong. Jacobson in Three Words: Patient, Adaptable, Committed Surprising Fact about You: I am a huge sci-fi fan. Bucket List Item: One day, I am going to visit Japan. BRETT CARTER Engagement Director, 4 months at Jacobson Hometown: Joliet, Illinois Alma Mater: Augustana College Describe Your Role: As an engagement director, I help connect our valued clients to highly qualified, top talent and create mutually beneficial partnerships and wins for everyone involved.  Favorite Thing about Jacobson: My favorite thing is how nice everyone is. People genuinely care how you're doing and treat you like a part of the family, even if you're new. I also like that there's free coffee. Surprising Fact about You: I used to be a junior zookeeper.  Favorite Movies: Any movie with Bill Murray Superpower: I possess the uncanny ability to make people crack up laughing. If you’re interested in joining our corporate team, check out our open positions here.

Tips for Staying Relevant, No Matter How Seasoned Your Career

The insurance industry is evolving at a rapid pace and new ideas, tools and technologies abound. In today’s volatile climate, an ongoing commitment to learning and professional development is crucial to stay competitive; however, formal programs are often catered more to young professionals who are starting out in their careers. While continual growth and improvement is important at all career stages, seasoned employees often have to be intentional about seeking out these opportunities. If you’re more tenured in your career, there are a few best practices for continuing to grow professionally and remaining relevant now and in the future. Commit to lifelong learning. As you journey down your professional path, embrace ongoing learning and growth. This may mean attending industry conferences and bringing back best practices and insights to your team. Or, it could be working toward a new designation—no matter your level or age—and ensuring existing designations don’t lapse. Continually seek out ways you can expand your knowledge base, no matter how small. Spend a few minutes each day catching up on industry news. Familiarize yourself with the experts and thought leaders in your specific area. Read their books and blogs. Listen to their podcasts on your way into work. By routinely absorbing information, best practices and news, you’ll be at the forefront of what’s happening in the industry and seen as a valuable resource. Get to know your strengths. No matter where you are in your career, it is important to understand and own your strengths and gifts, while recognizing where skill gaps exist. If you’ve identified a growth opportunity in an area you think would make you a better professional, talk to your manager, human resources or a trusted colleague to help develop an action plan to build that skill. For example, if public speaking makes you uncomfortable, consider joining a local Toastmasters chapter. If it’s not easy for you to walk into a room and introduce yourself to strangers, uncover ways to gain confidence in that area. This could include starting with smaller groups, or developing fail-proof conversation starters. Build your network. It’s likely you’ve acquired a substantial network throughout your career. Cultivate these existing connections and seek out ways to further expand your professional rolodex. Actively participate in networking events and associations–whether they are local, regional or national. This is more than attending a cocktail hour or occasionally skimming emails; join committees, participate and be seen as a true thought leader. By continuing to nurture and grow your network, you’ll not only have a wealth of resources at your fingertips, you’ll be better able to provide guidance and assistance to your colleagues and others within your network. Have a social media presence. Social media is a key aspect of building a personal brand in today’s always-connected environment. Most individuals you come into contact with—be it professional connections, potential clients or colleagues—will seek out your social media profiles to learn more about you, your background and your role. Make sure you have a presence that best represents you and your personal brand. Also, while you don’t have to constantly post, take some time every few days to respond to messages and requests or comment on your connections’ recent activity. Social media is here to stay and it’s important to find the right balance of online and in person networking. Volunteer for task forces and committees. If you are willing and able to take on new projects and opportunities, raise your hand and let your manager or others within leadership know. This may mean joining task forces or committees or taking on leadership positions within modernization efforts. In addition to networking internally, you’ll likely become an expert on new systems and technologies and viewed as an early adopter who others can go to with questions. More seasoned employees may be inadvertently overlooked for these types of responsibilities, making it even more important to speak up and play an active role. Mentor younger talent. Whether formal or informal, these relationships provide an opportunity to connect with younger generations on a personal level. Not only will you be able to share your experience and insight, it’s likely you’ll get to know yourself better in the process. Afterall, one of the best ways to learn is to teach and individuals often feel they gain more from mentoring than they give. Engage with recruiters and vendors. Even if you aren’t actively looking for a new role, taking periodic calls from recruiters can help expand your professional horizons. These conversations enable you to learn what’s happening in other companies and provide a chance to help someone in your network. Approach vendors in a similar way. While you don’t need to take every sales call, view them as an opportunity to learn about new tools, platforms and technologies in the industry. Down the road, your department may have a need for a specific type of resource and you’ll already have an understanding of what’s available. Leverage your experience. While the industry is changing and new skills are required, don’t lose site of the value of your professional background. Leverage your experience and arsenal of transferable skills. More seasoned employees have a wealth of learnings from on the job experience. While specific circumstances may have changed, historical knowledge and storied insights can set you apart. In today’s work environment, it’s important to proactively commit to growth, especially later in your career. By being open to change, continually working to learn new and hone existing skills, and networking both within your company and the industry, you’ll be set up for long-term success.

Maximize Your Holiday Job Search to Minimize New Year Stress

Many people on the job hunt think they should take a break during the holidays because “no one is hiring,” but that couldn’t be further from the truth. Just as you’re able to take some time to think about your next professional steps, insurers often use this slower season to strategize on hiring needs. Because of this, the hiring market doesn’t really slow down between Thanksgiving and December 31. In my experience as a recruiter, scheduling screening calls is often easier during this time of year, as everyone’s calendars tend to be more open. Here’s how you can be ready to put your best foot forward, maximize your time off around the holidays and start the new year on your way to a new job. Refresh Your Resume With holiday time off built into your schedule, it’s a good time to polish up your resume. Oftentimes, professionals don’t work on their resumes unless there’s a timely need, such as a pressing application or informational interview. By proactively reviewing your resume now, you won’t have to scramble if a recruiter reaches out or your dream job opens up. Make sure your current position and responsibilities are up-to-date (and those of past roles if it’s been awhile since you last visited your resume). Include major accomplishments, completed courses and professional training, and company milestones you helped meet. You never know when you’ll need a complete view of your work history, so take this time to catch yourself up. Update Your LinkedIn Profile Similarly, many candidates forget to keep their LinkedIn profiles current, even when they’re routinely adding to their resumes. This is often the first touchpoint for recruiters considering you for new positions. Now is the time to ensure your work history, profile summary and headshot accurately represent you. If you’re active in any insurance associations or charitable organizations outside of work, don’t hesitate to include those in the accomplishments section of your profile–this gives recruiters a wider view of your cultural fit within a company. Catch Up on Industry News While you have some downtime and are transitioning from the relentless go, go, go of the pre-holiday season, take your work-focused mindset and put it to good use. Find out what you’ve missed in the insurance industry this year by reading articles from key industry publications, catching up on industry comings and goings, and looking into industry hiring and revenue expectations for the year to come. This is also a good time to brush up on function-related skills. Consider taking an online course to make sure you’re at the top of your game. Set Professional New Year’s Resolutions Once you’ve updated your  work history and made sure you know what’s happening in the industry, set aside some time to set intentions for the coming year. Put yourself on the right path by reflecting on the past year from both personal and professional standpoints: think about what you’ve accomplished, consider what goals you had (Did you meet them? What were the difficulties?), and lay out some goals for the next year. Think about any particular challenges you’d like in a new role. Whatever you do, set clear, concrete goals and hold yourself accountable (or find someone who will). Reconnect with Your Network The insurance industry is fairly small, so maintaining connections is key. The holidays could be a good time to strengthen those relationships while you and your contacts have coinciding time off. This may be as simple as reaching out to grab coffee. Consider how you can help your connections achieve their own professional goals, pass along relevant articles you read and start conversations that may guide you on your job search. Despite having extra free time in your schedule, don’t make the holidays all about cramming in phone calls and resume updates. Remember to spend time with family and friends, and embrace work-life balance. Taking a break is necessary both personally and professionally, so power down your computer at times and turn off your phone notifications. Work and the job search will always be there when you log back on. Jacobson wishes you and your family a happy holiday season!

Seven Tips for Recruiting During the Holiday Season

The holiday season is a unique time of year from a recruiting standpoint. On one hand, professionals are often on a break from their current jobs and may be evaluating their long-term professional goals. Conversely, potential candidates and internal staff often have conflicting schedules, making it difficult to coordinate interviews and keep momentum going. As this year’s holiday season kicks off, there are a few things employers should consider in terms of their hiring strategies. 1. Adjust your expectations. With end-of-year projects, 2020 planning, vacation time and holidays, the upcoming months have their own set of challenges and competing priorities. As a result, talent strategies must be approached a bit differently. Level set expectations with your team to account for non-work days (including employees’ personal vacation days) and extended timelines. Recognize that posting a job the week of Thanksgiving may not yield a new hire in December. However, attracting top talent, arranging interviews and establishing strong connections is very much a possibility. 2. Plan ahead. Planning is key to ensure your recruiting efforts maintain momentum during the holiday season. Align with your team and all stakeholders involved in a search. Especially if you are looking to fill a role immediately, it’s important you know which days your team members are available for interviews and commit to a tentative process and timeline. Talk through what is realistic with your team and plan goals accordingly. You may also consider using an insurance recruiting firm to assist with certain roles, or leveraging a temporary staffing partner to help fill any gaps in employment. 3. Acknowledge it’s still a candidate-driven market. While it may be the holiday season, it’s not the time to put off conducting interviews and making job offers. October unemployment was at 1.7 percent for insurance and the Bureau of Labor Statistics most recently reported there are 262,000 open jobs in finance and insurance. Your competitors aren’t on hiring freezes these next few months; they’re actively recruiting top talent. If you’ve found a stellar candidate, don’t wait until after the holidays to extend an offer. It is likely they’ll have already accepted another role. 4. ...But be respectful of candidates’ schedules. No matter how pressing an opportunity is, don’t call candidates on the actual holidays themselves. For instance, while many companies are open on Christmas Eve and New Year’s Eve, that is not the right time to be reaching out to schedule an interview. Wait until the day after the holiday and understand if candidates are unable to talk right away due to existing vacation schedules and family responsibilities. Exceptions to this rule may include presenting a candidate with a job offer or sharing other pertinent news, as long as the timeline has been agreed upon in advance. 5. Exercise flexibility. Whether you’re flying a candidate in for an interview or working around your team’s internal schedules, it may be necessary to get creative. For instance, if a key decision-maker is out of the office, schedule a Skype interview instead of postponing an in-person conversation. Also consider meeting before or after business hours, recognizing many individuals are juggling their current roles, children home from school and holiday coordination. Be understanding of personal obligations throughout the holiday season and try to accommodate candidates with additional options and flexibility. 6. Freshen up your job postings. The end of the year is a time when many individuals reflect on their careers and their next professional steps. Additionally, many who are looking for a change are using their time off as an opportunity to browse job postings and consider their options. Repost your high priority jobs so they stand out at the top of the list, rather than looking stale or out of date. Take a look at your existing position descriptions and ensure they are compelling and not overwhelming from a requirements standpoint. Consider making adjustments so they focus on specific skills, rather than experience, to broaden the talent pool. 7. Promote your brand. Make sure your employment brand is visible and accessible during the holiday season. If you’re advertising jobs on social media sites such as LinkedIn, make sure your posts are updated and active. Showcase your company culture by sharing highlights from company parties, charity events and social gatherings across all your social profiles. Many job seekers are honing their company research when they have time away from their current positions. By having an enticing brand, you can help attract individuals to your current openings and also build your talent pipeline moving into 2020. While the holiday months bring their own challenges, there are plenty of opportunities for those who adjust their talent strategies accordingly. With realistic expectations, early planning and a flexible mentality, it’s possible to attract the right talent in time to help ring in the new year.

How to Keep Employees Motivated During the Holidays

The holidays seem to arrive earlier every year. Before you know it, your employees will be inundated with out-of-town guests, holiday travel, meal planning and gift shopping. Get ahead of the distractions with these tips to make sure your team stays on task for a productive holiday season. Set Project PrioritiesDuring the holidays, employees may take vacation time in addition to company-wide days off, potentially impacting end-of-year projects. Remember to take time off into account when creating project plans; preparing for those extra days early on will help your team successfully complete projects without added stress. Setting precise and measurable deliverables, especially as we enter the holiday season, will ensure staff members stay productive. Start planning with your team now to prioritize projects and then break those projects into smaller, achievable tasks with clear deadlines. Employees’ input will be vital in setting realistic, manageable goals. This will help you identify gaps in resources and set your team up for continued success when you get back up and running in January.Consider Flexible Work ArrangementsSome insurers are still reluctant to implement work-at-home (WAH) or flexible work arrangements, though they’ve become more common. However, even small gestures such as closing the office a couple hours early or allowing your employees to work from home one or two days around the holidays can strongly impact their motivation and morale. Your staff will feel more capable of managing both work and personal obligations, giving them more time to enjoy the season and helping them return to work refreshed. For organizations that have embraced WAH arrangements, well-defined policies are essential to success. Kids home on school break could be a distraction, for example, but parents can better set physical and time-based boundaries with your help. Drafting guidelines around remote work environments and expected work hours will give your staff the structure they need to maximize productivity. Specific considerations may include your preferred method of communication for quick updates versus more in-depth brainstorms or meetings, how many check-ins you expect per day, and whether your employees should let their managers know when they’ve started their day and when they’re getting ready to log off. OvercommunicateOnce essential tasks are prioritized and flexible work arrangements are set, make sure to communicate those expectations and schedules to any involved team members and stakeholders. Overcommunicating during this time will ensure no loose ends are left for the new year. Precise, written communication establishes an accessible record of expectations, but phone or in-person follow-ups are advisable to verify everyone is on the same page. While determining priorities is a necessary first step, straightforward communication is also an essential part of the process; clarity and alignment will ensure coverage for essential day-to-day tasks and a smooth project path. Overcommunication is important when initially sharing project expectations and creating back-up plans for out-of-office coverage but also extends to team-wide time management. During this process, help your employees learn to accurately communicate their workloads so they can better manage their time and delegate when appropriate. Additionally, ensure your team knows who will be physically in the office, remote or on vacation in the weeks surrounding the holidays. Share each employee’s active work hours and any preferred communication methods so no one struggles to connect while working against the clock.Plan for Talent GapsEven with the best prioritization, flexibility and communication, last-minute demands may arise while your employees are away from the office. After all, insurance needs don’t take days off, even for the holidays! Promote team alignment and cross-departmental collaboration to fill in the gaps, and rekindle your relationships with insurance-focused staffing firms to cover any additional needs. Staffing firms stay connected to skilled talent so they can provide the consultants you’re looking for at a moment’s notice. Finally, do your best to accommodate employees as they balance work and personal needs. Just as you may be dreading that visit from Aunt Josephine or struggling to find a gift for the neighbor who grabs your newspaper while you’re out of town, your employees also deal with these holiday troubles. It’s up to you to set the tone for work around the holidays, help alleviate unnecessary office stress when possible and of course, to celebrate with your team!

The Actuarial Mid-Level Talent Gap: An Update

It’s no secret the actuarial world has been facing a mid-level talent gap. In a white paper last year, “The Actuarial Talent Challenge: Combatting the Mid-Level Gap,” we examined some of the causes for this gap and ways insurers were working to close it. As we near the end of 2019, we’re taking a fresh look at the trends impacting the actuarial world and this still very relevant talent challenge. Recruiting actuaries for mid-level roles has been difficult for the past several years. There are multiple reasons these individuals, with eight to 15 years of experience, are scarce compared to their younger and older counterparts. Often mid-level professionals are in dual-income relationships, have already laid down roots in their communities and/or have young children, making moving for new roles difficult. In other cases, they may have specialized in a specific area, and their experiences seem difficult to translate across departments. Some may have moved to other industries and taken similar roles during the recession, causing further impact. While the talent gap is showing few signs of letting up, there are ways companies can combat this hurdle by being creative in structuring their departments and flexible in optimizing their teams and talent. Reexamination of Roles and DepartmentsOne of the most noticeable shifts we’re seeing is organizations having unique needs, creating different reporting structures and working to better define actuarial roles. Some companies are flattening their departments, while others are maintaining more traditional models. A number of organizations are working toward more centralized structures, while others are more dispersed. At the same time, they are examining roles and reassigning projects that are out of scope, such as moving ownership of self-built systems over to IT. This creates case-by-case challenges, as there is no one-size-fits all solution for best managing today’s actuarial teams.Soft SkillsAs organizations reimagine their actuarial roles, there’s a need to determine the specific skill sets that are necessary for future success. Automation has impacted all areas of the industry. As modernization projects progress and companies leverage artificial intelligence, new sets of skills are in demand. Soft—or human—skills are separating the good from the great actuaries, as they are able to better translate data and most efficiently leverage systems and teams. Organizations that once only looked at specific experiences and specialties must focus on individuals’ soft skills, both from a recruiting and training perspective. By recruiting for skills over specific experience, insurers will be exposed to qualified individuals they may have once overlooked, while also benefiting from attributes only humans can master. PrioritizationAs the echoes of the last recession dissipate, it’s common for organizations to want to tackle multiple projects that were previously put on hold. Actuarial leaders must determine their top priorities and then build agile teams that align with those areas of emphasis. This may mean being more creative and flexible than ever before. According to the Bureau of Labor Statistics, actuarial employment is expected to grow 20 percent between 2018 and 2028. By prioritizing their unique needs, actuarial leaders can strategically hire and develop the right talent to achieve their department and business goals. Remote WorkThis year, we’ve seen a great increase in remote hiring. Video conferencing, group messenger apps, online project management platforms and shared documents are just a few of the tools making remote work a seamless option. While the right mid-level candidates may not be available within a reasonable commute, telecommuting options enable organizations to hire qualified professionals, regardless of geography. Work/Life BalanceThere’s an abundance of young actuaries vying for entry-level roles; organizations need to focus on growing and retaining that talent to eventually fill the mid-level gap. Reflect on what your company is offering that would make it enticing for mid-career individuals. For instance, by embracing work/life balance and flexibility in hours and work location, organizations can foster work environments that make it easier to balance personal and professional obligations. Alternative SolutionsAs organizations combat the mid-level gap, they are leveraging a variety of alternative talent solutions to augment their actuarial workforces. In the past several months, many companies have looked to offshoring for actuarial functions. Currently, the impact of offshoring has been limited to entry-level positions and has seen mixed reviews. While it could potentially bleed into mid-level roles as insurers become more comfortable incorporating offshoring into their talent strategies. However, while offshoring can complement existing solutions, it presents its own challenges, such as different time zones, morale issues and turnover. Insurers are also increasing their use of subject matter experts as gig workers, who can lead and support new projects on an as-needed basis. As insurers redefine roles and organizational structures, these individuals can them help maintain performance levels, while working toward larger goals.As an industry, we’ve done a fantastic job encouraging young talent to seek out actuarial careers. By further developing this talent, understanding the needs of mid-career professionals and looking into non-traditional talent solutions, insurers can help eventually close the talent gap. In the meantime, actuarial leaders can mitigate its impact by reexamining their teams, prioritizing projects and taking a flexible approach to department structures.

Jacobson Employee Spotlight – Nov. 2019

At The Jacobson Group, we’re dedicated to our employees and their professional development and growth. Each month, we highlight a few of our corporate employees from across the company as they share a bit about themselves and their roles. Get to know these individuals below. View last month's edition of our Employee Spotlight here. ALEC DATOLI Client Development Manager, 7 months at Jacobson Hometown: St. Charles, Illinois Alma Mater: Elmhurst College Describe Your Role: As a client development manager, my goal is to help our clients make a successful placement. I focus on being a readily available, professional consultant who aids and supports the client with all of their sourcing and hiring needs. Favorite Thing About Working at Jacobson: My favorite part is my colleagues. I get to work with such smart, energetic and inclusive people everyday, which has made my transition into a new company a lot easier.  Jacobson in Three Words: Thought-Provoking, Collaborative, Fun Favorite Dessert: Grandmother's homemade pecan pie Surprising Fact: I once ate three meals in three different countries in a single day. NADA IBRAHIM Recruiter, 1 year, 6 months at Jacobson Hometown: Cairo, Egypt Alma Mater: University of Illinois at Chicago Describe Your Role: As a recruiter on the talent delivery team, I partner with our clients to recruit for various interim openings and opportunities.  Favorite Thing About Working at Jacobson: I love our work environment and culture. My favorite event is our annual meeting because I get to connect with all of my coworkers. Surprising Fact About You: I can sing "You've Got a Friend in Me" in Arabic. Best Advice: Always ask when you don't know. Ideal Lunch Break: I'd make a stop at the taco truck and then take a walk in the park. CECILIA MWAYA Recruiter, 4 years at Jacobson Hometown: Lusaka, Zambia Alma Mater: Baptist Bible College Describe Your Role: As a recruiter, I partner with our clients to identify long-term matches for their organizations. There's never a dull moment. Fun fact: I am the only recruiter in the company who has worked for all three divisions, and I love them all.  Best Piece of Advice Ever Given: Never be afraid to go after what you want. It may not be easy, but it's always worth it. If you don’t try and just stay where you are, you’ll never know what you are capable of achieving. Favorite Thing About Working at Jacobson: I help facilitate our "lunch for a lunch" service event. I love it because we come together to make lunches for local homeless people.  Favorite Music: Currently the ever enigmatic Lizzo and all things '70s slow jams Superpower: I am the queen of bargain hunting. If there’s a coupon for something, I've got it. DEVIE SMITH Manager of Accounting, 11 years at Jacobson Hometown: Lithonia, Georgia Alma Mater: The University of Georgia Describe Your Role: I truly love my job as manager of accounting. My day-to-day involves general ledger management and financial statement generation. I also manage the financials and payroll of the organization, which allows me to work with all of my coworkers.  Jacobson in Three Words: Family, Collaborative, Open Favorite Event at Jacobson: I love our Vegas celebrations as a large group! Surprising Fact About You: I was born in Riyadh, Saudi Arabia, and lived there until I was 8 years old. Bucket List Item: I would like to go parasailing at some point.  If you’re interested in joining our corporate team, check out our open positions here.