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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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Engaging Seasoned Industry Talent

In today's market, many organizations are so focused on attracting and growing millennials and Generation Z, they forget to harness their older employees; wide knowledge base and skill sets. By embracing the diverse workforce, they can be best positioned to benefit from the unique skill sets and talents all employees have to offer.

Committing to Strategic Professional Development

Professional development is a vital component of employee engagement, retention and career satisfaction. Training magazine found U.S. companies spent about $87.6 billion on training and development in 2018. Amazon alone recently announced it’s investing an average of $7,000 per employee for voluntary training programs. As companies begin to reinvest in employees’ individual growth, it’s important these initiatives also contribute to larger business goals. Taking a strategic approach to employee development is a key success factor in today’s evolving, candidate-driven market. Helping employees set and reach individual goals not only results in more successful insurance leaders, it also creates the opportunity to improve operations, enhance productivity and ensure overall business goals remain a priority. Employee development should aim to achieve goals and master skillsets that add organizational value. Intentional development programs also enable employees to gain a better understanding of the areas in which they thrive, along with those where there’s room to improve. Gartner suggests that if all U.S. companies trained managers to focus on strengths, the number of engaged workers in the country would double. By strategically aligning employee development to team, department and company goals, organizations can most effectively create a skilled and focused workforce that moves business forward. In our recent white paper, Judy Busby, senior vice president of executive search and corporate strategy, highlights the importance of taking a strategic approach to professional development. She shares a few best practices for creating written individual development plans that enable all employees to contribute to achieving larger business goals: Establishing SMART goals. Providing employees with visibility into their progress. Holding employees accountable. Continuing to move employees forward. Read “Taking a Strategic Approach to Professional Development” to learn more and to download a complimentary individual development planning worksheet.

Compass 12.4: Engaging Seasoned Industry Talent

This issue's feature article discusses how insurers can embrace the diverse workforce and consciously engage their seasoned employees. By doing so, they can be best positioned to benefit from the unique skill sets and talents all employees have to offer.

Reimagining Corporate Culture to Engage Employees

Published in Insurance Journal Company culture should be much more than surface-level perks. Businesses now offer employees gym memberships, fully-stocked fridges and dry-cleaning services among other benefits. However, a thriving company culture, distinguished by transparent leadership and staff involvement, can be much more impactful for employees.

Looking Outside MPL in the Competitive Labor Market

This article was originally published in the Fourth Quarter 2019 issue of Inside Medical Liability magazine, MPL Association. Copyright 2019. Posted with permission of the MPL Association. In the current employment climate, defining transferable skills and translating those skills to medical professional liability is key to maintaining a strong and viable talent pool. By doing so, companies will be able to drive future organizational success.

A Board’s Guide to Executive Compensation

It is important to recruit and retain executive talent through attractive compensation. By re-imagining compensation programs to ensure they align with companies' overall goals and values, boards can set the stage to build a strong executive team.

Creating a Stand-Out LinkedIn Presence: Tips from a Recruiter

LinkedIn has become more than just a social networking platform. It is an important tool in building your professional brand and showcasing your expertise and background. Whether or not you’re actively looking for a job, it’s likely recruiters—as well as potential clients and candidates—are checking out your profile, making it imperative you are thoughtful about your online presence. In addition, LinkedIn can serve as a valuable professional development tool, opening you up to thought leadership content, new ideas, potential mentors and other industry connections. No matter how you use LinkedIn, it’s important to have a strong profile that highlights your accomplishments and areas of expertise. Here are a few ways to make sure you’re putting your best foot forward and reaping all of the platform’s benefits. Create or refresh your LinkedIn profile. First things first. In today’s connected, social media-driven environment, not having an online presence could be a red flag, especially for recruiters. If you do nothing else, create a profile with your photo, current and past positions, and education. If possible, use a professional-looking photo of just you (no selfies, pets or half cropped-out friends and family). Aim to connect to at least 100 individuals; this shouldn’t be too difficult as LinkedIn suggests potential connections based on your alma mater and employment history. Even if you already have a profile that meets these criteria, take some time to make sure your information is still relevant and current. If you’ve neglected LinkedIn for the past few years, it’s likely time to give your profile a refresh. Build out the basics. Once you’ve created a profile, provide additional information on your background, previous positions and accomplishments. Unlike a standard resume, you have the freedom to share a bit of your personality on LinkedIn. Talk about your roles and accomplishments in the first person. Make sure to also include professional designations and any continuing education programs you’ve completed or are currently undertaking. If you’re a remote worker and located in a city different than your employer, share that as well. Be clear and strategic. Especially as you advance in your career, there’s no doubt you could include a laundry list of past responsibilities. However, think about your profile from a strategic standpoint; where do you want to be in the next five or 10 years? What information is relevant in helping you get there? If your position descriptions get too long, make sure you consider what aligns to your future goals and leave out anything that will be a distraction. If you are looking for a new job, think like a recruiter and use common, searchable terms. Additionally, make sure your title and summary are clear and provide concise information about what you do and where you want to be. Highlight accomplishments and projects. When adding descriptions to your experiences, don’t simply copy and paste a job description. Instead, opt for around five bullet points that share your accomplishments and demonstrate your leadership capabilities. Make sure to include any systems you helped implement or other relevant special projects that may be outside of your day-to-day responsibilities. Think of these descriptions as easy-to-read highlight reels and include numbers and stats to quantify impact. Show your work. LinkedIn enables users to upload files, post photos and share links. By providing tangible multimedia content, you’re giving your network and potential employers a better understanding of your past projects and achievements. Use this feature to your advantage and share examples of work you’re most proud of, when possible. Create an eye-catching summary. The first thing someone will see when viewing your profile is your summary. This should be professional, but also show off your personality. This is a great place to highlight special skills and accomplishments that may not fit elsewhere on your profile, or to share long-term future aspirations. Review your account settings By clicking on “Me” in the top LinkedIn navigation, you’ll have the option to view your account settings and privacy. First, set a custom url that includes your name and is easy to share. Next, take a moment to review your settings and ensure you’re comfortable with the amount of information provided to other professionals. You’ll be able to adjust what information is public, who can see your updates and contacts, how you appear when viewing others’ profiles and more.   Join groups. There are many benefits to joining LinkedIn groups. They help you connect with other individuals in the industry and provide a platform for sharing ideas and advice. Join groups that match your interests and actively participate in them. In addition to building your industry authority, you’ll be showcasing your expertise to potential employers and recruiters. Even if a recruiter doesn’t find you through a search, they may be involved in the same groups as you, helping them gain a better understanding of your interests and career path.   Engage with your network. You have a profile, you’re involved in groups and you have a healthy list of connections. The next step is to take a few minutes every day or so to engage with your network. Comment on posts, share articles and offer your expertise. With a minimal amount of effort, you can stand out from the crowd, while also staying in touch with your network and updating them on your current projects and passions. Leverage job search features. There are a variety of features and tools available on LinkedIn to help you connect with recruiters and land your next role. For instance, if you are looking for a new position, you can alert recruiters by noting this in your account settings. Most recruiters, both on the corporate side and within staffing firms, use LinkedIn to help find potential candidates. There’s also a job search function on the platform, where you can proactively search for positions, along with more advanced options to directly message recruiters. LinkedIn is an important tool, whether you’re embarking on a job hunt or looking to build your professional network and brand. By being thoughtful about your profile, sharing strategic content and engaging with your network, you’ll ensure you are adequately demonstrating who you are and where you’re aiming to be as a professional.

Jacobson Employee Spotlight – Oct. 2019

As a talent-focused organization, The Jacobson Group is dedicated to our employees and their professional development and growth. In fact, we were recently named a Best Place to Work in Insurance by Business Insurance. Get to know a few of our corporate employees as they share a bit about themselves and their roles. KESHIHA BATHANI Executive Recruiter, 4 months at Jacobson Hometown: Woodridge, Illinois Alma Mater: Loyola University Chicago Describe Your Role: As an executive recruiter, my job is to recruit and connect with prospective candidates. I also assess their qualifications and compatibility for Vice President level roles and above.  Favorite Jacobson Event: Employee Appreciation Lunches Jacobson in Three Words: Hardworking, client-driven, insurance-specialized Favorite Dessert: Warm chocolate chip cookies a la mode Bucket List Item: Traveling and exploring all the wonders of the world JASON DEGRADO Senior Recruiter, 2 years, 6 months at Jacobson Hometown: Frankfort, Illinois Alma Mater: Purdue University Describe Your Role: I match consultants with the right project, based on both their background and the clients’ needs. Favorite thing about working at Jacobson: The ability to impact and change lives. Nothing beats hearing how excited our consultants get when we help them land that new job. Best piece of advice ever given: Never stop fighting; never give up. Those were my grandmother’s last words to me and they have pushed me through many tough or challenging times. Favorite Movie: National Lampoon’s Vacation series Superpower: Ability to match people with job opportunities before they even interview for the role. Can I tell the future? Who knows. RAVEN NOLE Senior Travel Coordinator, 4 years, 3 months at Jacobson Hometown: Joliet, Illinois Alma Mater: Trinity Christian College Describe Your Role: As a senior travel coordinator, most of my time is spent working with our consultants and corporate employees to book travel. My days also include tasks such as administration, customer service and accounting.  Jacobson in Three Words: Friendly, Flexible, Collaborative Favorite Thing About Jacobson: I really like that Jacobson allows so much flexibility for their employees. The flexible work hours and work-at-home program are so family-friendly. Jacobson also has a great work culture, which you don’t find often in workplaces. Favorite Music: I love all kinds of music. It doesn’t matter what genre. If I like the song, I’m going to listen to it. Superpower: Right now, it’s being pregnant. I have a new appreciation for the human body. If you’re interested in joining our corporate team, check out our open positions here.

How to Avoid Spooking Your Candidate

Insurance recruiting can be a delicate balance. On one hand, you’re trying to learn more about your candidate and express interest. On the other, you don’t want to seem as if you are desperate to fill a role, or the position itself is undesirable. As we approach Halloween, it’s time to take a step back and make sure you’re not “spooking” your candidates. Don’t ghost them. One of the biggest turnoffs for candidates is a lack of feedback. Ensure you’re providing feedback at all stages of the recruiting process, from the initial resume submission to a phone screen to the in-person interview. Two-way communication is expected and helps keep candidates engaged and interested in your company and position. If they don’t hear back in a couple days, it’s likely they will lose interest and move on to other prospects. Keep interviews to a minimum. In the not so recent past, many companies were asking candidates to come in for numerous interviews with a variety of individuals from hiring managers to teammates and potential subordinates. Be conscientious of candidates’ time and recognize most are leaving work and rearranging their schedules to interview. Two or three interviews, including phone interviews, should be the absolute maximum. If you’re bringing an individual into the office, be smart about how their time is spent and schedule short meetings with multiple people, if needed. Put your best benefits forward. It is easy to deliver a standard, boilerplate list of company benefits. However, this could mean key items are getting overlooked. Understand what is important to candidates and which benefits will have the most allure. Ensure these are listed first, and highlight specific benefits that may be relevant as you get to the know an individual candidate’s motivators. Sell them on the opportunity. In today’s candidate-driven market, the tables have turned. It is up to the employer to sell candidates on a position, team and organization. Make sure your most impressive employees are put in front of candidates. They should be prepped with key talking points and company highlights to share, while also working to uncover candidates’ motivators and needs. Individuals should leave an interview feeling excited about the position, wanting to work with their potential team and knowing why the company is an outstanding place to work. Don’t be too rigid. Today, even the most conservative office environments have loosened up. Most professionals are looking for companies that understand the importance of flexibility and are committed to work/life balance. Strict hours and defined breaks may have prospects running in the opposite direction. If your company or team offers no flexibility in terms of hours or work location, it may be time for a change. Keep up the momentum. Top candidates are often talking with multiple companies at the same time. If your candidate experience pales in comparison, interviewees may decide the role is not worth their time, or that you’re not serious about moving forward. Dragging the interview process out too long is a common offense. Keep up the momentum and realize candidates are evaluating opportunities and companies at every point within the recruitment and interview process. Highlight career development opportunities.  Most individuals, especially members of younger generations, are looking to grow within a company. If your organization offers career development opportunities, make sure you discuss them. Additionally, the role they’re interviewing for may not be where they ultimately see themselves. Share potential growth opportunities throughout the interview process and discuss career paths as necessary. This shows a commitment to employees and their long-term career goals.   Make your first offer your best offer. In today’s market, a lackluster offer may offend top candidates, especially if they’ve been upfront with their expectations around compensation. It’s likely candidates will receive and review multiple offers throughout their job searches; make sure yours stands out and keeps them excited about the role. Additionally, make it as comprehensive and compelling as possible, highlighting the specific perks and benefits that meet their individual needs. Avoid “haunting” them. No matter how well the interview is going, or how natural the conversation seems, avoid inadvertently telling horror stories to your candidates. These include sharing that a role has been open for a year, it’s a revolving door of employees or you’ve made a handful of turned down offers. Don’t talk negatively about colleagues or departments. If the role would involve relocating, don’t casually bring up astronomical housing costs. Of course, while these topics shouldn’t be brought up willingly, do be truthful if a candidate specifically asks about them. By following these guidelines, you can help ensure candidates are running away from haunted houses this Halloween and not your company. To learn more about the candidate-driven market, read our recent white paper, “What Does the Candidate-Driven Market Really Mean for Insurers?”

Boardroom View 1.3: A Board’s Guide to Executive Compensation

This issue's feature article explores the importance of recruiting and retaining executive talent through attractive compensation. By doing so, boards can set the stage to build a strong executive team.

How to Prepare for Any Type of Interview

Congratulations, you’ve been selected for an interview! As most professionals know, simply showing up is not the next step. It’s time to review your resume and qualifications, research the company, and align your transferable attributes and experiences – not to mention polish up on your interview skills. Proper preparation can help calm your nerves, side step any avoidable mishaps and enable you to put your best foot forward. Interviews have also changed quite a bit in the past several years. Social networking tools provide candidates with a wealth of information on interviewers and companies (and vice versa); video interviews have become increasingly popular; and cultural fit is being taken into higher account when evaluating candidates. It’s likely you will encounter three main types of interviews during a job search: phone, video and/or in-person. Below are a few ways to make sure you’re ready to ace any type of interview. Phone interviews A phone interview is often the first step in securing an in-person interview. This will likely be with either a recruiter or a hiring manager, depending on the company. While phone interviews are commonly driven by a series of questions, approach them like you would if you were meeting the individual for coffee. Ask follow-up questions and actively engage in the conversation. Exuding confidence is important in all interview situations, but even more so on the phone, where body language and facial expressions are not visible. Remain professional, but bring your full personality to the conversation. Phone interviews are often short; this is your time to shine and demonstrate why you are the right candidate for the job. Take a few deep breaths before the call and remind yourself to be direct and talk slowly. It’s likely the interviewer will be taking notes and trying to accurately capture your responses. At the same time, this means you may not receive much immediate feedback and pauses may occur. If you’re answering an initial call from a recruiter – whether from the hiring company or a recruiting firm – know that a first impression is a valuable part of the interview process. If you’re not expecting the call and are unable to talk, ask if you can connect later that day. If you’re not interested in the position, be gracious and ask to be kept in mind for future roles that are more in line with what you are looking for.   Video interviews Video interviews have increased in popularity throughout the past few years. It’s likely you will encounter this type of interview at some point, if you haven’t already. They enable candidates to meet with a variety of decision makers and teammates, regardless of travel schedules or geographic locations. Unlike phone or in-person interviews, video interviews require additional technical preparation. This may mean downloading and testing a specific video software and ensuring your computer microphone and speakers work correctly. Think about what will be in the background of your call and ensure it is neutral and professional. Additionally, consider the lighting and time of day to make sure you are well lit, rather than in a shadow. Call a friend, or a recruiter if you are working through a staffing firm, to test out your audio and video clarity prior to the call. While video interviews may seem informal, dress as you would if you were meeting the interviewer in person. You can also be a bit more animated in video interviews (without going over the top), as people tend to look more still than they think on video. In-person interviews When you are brought in for an in-person interview, a few different factors are at play. It’s possible you will meet with more than one person. Additionally, it’s likely you have already had a video or phone interview, meaning your qualifications are a match and they want to learn more about you. If you are working with a recruiting firm, ask the recruiter about the individuals you will be meeting prior to your interview. Check them out on LinkedIn and do your background research. Knowing your audience is an advantage and can help you connect on a deeper level. For instance, you may have gone to the same college or perhaps you are involved in similar charity work or other activities. While it’s important to be well-groomed, show your personality if possible. Check in with your recruiter to see what expected interview attire is for the company. If you never wear a tie, and the company has a more casual dress code, you may be more comfortable in a button down and jacket. If you prefer pants, don’t feel like you must wear a dress or skirt to be in “interview attire.” Look professional, but don’t sacrifice your comfort. All interview situations Of course, a few tips are applicable to all interviews, no matter the format: Be honest and candid about what you are looking for as far as compensation, career growth and other factors. If a position is not right for you, recruiters and hiring managers may keep you in mind when the perfect role does become available. Be on time. If you are going to be late for an interview, no matter the format, let your recruiter know as early as possible. Follow up. In today’s fast-paced recruiting environment, sending a thank you email the same day or morning following (depending on the interview’s time) is standard. This enables you to reiterate your interest, thank the interviewers for their consideration and share any relevant follow-up details. Keep the conversation going. If you didn’t get the job or a final interview, don’t take it personally. Show appreciation for being considered. Let the recruiter or hiring manager know you’d be interested in future positions that might be a fit. Maintain professionalism. From the first time you speak with a recruiter onward, you are building relationships and showing who you are as a professional. Even if you are not interested in the role or it’s not the right time for you to make a move, refrain from burning bridges. Taking time to prepare before an interview can mean the difference between a stellar connection and stumbling for answers. You’ve earned this opportunity, now is the time to let your personality, skills and aptitude shine.

Insurance Labor Study Results: The Candidate-Driven Market Continues

We recently completed the Q3 2019 iteration of our Semi-Annual U.S. Insurance Labor Outlook Study, and the results are in! The study, conducted by The Jacobson Group and Aon plc, collects revenue and hiring projections across the insurance industry. Below are a few highlights from the latest results; make sure to download the full results summary, webinar and slide deck for additional insights and commentary. We found positive staffing expectations overall. Sixty-two percent of companies plan to increase staff in the next year, with 9.3 percent of companies foreseeing more than 20 percent growth. This is largely driven by the life and health verticals, as 85 percent of these companies expect to expand their workforces. However, the industry has been growing notably faster than anticipated. Just 3.5 percent of insurance carriers planned to increase their staff sizes by more than 20 percent between July 2018 and July 2019, compared to 10.5 percent that actually did. It’s possible growth could again surpass expectations. The Q3 2019 study found technology, claims and underwriting talent to be in the highest demand as companies look to expand. The life and health sectors are particularly interested in growing their technology staffs, as are commercial lines carriers, while personal lines companies are focusing more on claims roles. The majority of organizations across all verticals expect to maintain their use of temporary employees, with 13 percent planning to leverage more interim staff in the coming year. While most insurers are looking to hire, they continue to face a candidate’s market driven by mass retirements and nearly non-existent unemployment. According to the Bureau of Labor Statistics, the insurance industry’s unemployment rate landed at 2.2 percent in August, compared to 3.7 percent for the overall labor market. Additionally, since its employment low in April 2011, the insurance carriers sector has added 117,900 new jobs, putting further strain on companies struggling to find qualified talent for the roles they need to fill. To stand out among other individuals looking to capitalize on the candidate-driven market, learn how to prepare for any type of interview; consider brushing up on your leadership skills; and subscribe to The Career Catalyst (on the right side of this page) to be the first to read our exclusive insights into career management, professional development and more.