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Jacobson Employee Spotlight - Q1 2024

Jacobson Employee Spotlight – Q1 2024

Each quarter we take time to acknowledge the incredible team members at Jacobson who drive our company's ongoing success. Their dedication to helping our clients achieve their talent goals is truly commendable. Below, we shine a spotlight on a few of our talented Jacobson team members and the roles they play. JESSICA KOSTUK Sourcer, 5 years at Jacobson Hometown: I grew up in Barrington, Illinois and now call Evergreen, Colorado home.  Alma Mater: Indiana University - Go Hoosiers! Describe Your Role: I support Jacobson's corporate talent acquisition. I help identify and recruit new employees to Jacobson across all internal functions. Favorite Show: "The Guilded Age" Jacobson in Three Words: Collaborative, Respectful, Experts A Professional Skill You Are Actively Developing: Active listening  You Are Happiest When You Are: Lounging at home with my kids, a nice glass of red wine in hand, and a steak dinner being prepared by my husband Advice For Newcomers to The Industry: Ask a lot of questions and be willing to learn from the ground up Favorite Food: Sushi or steak  What Inspires You to Excel in Your Role: My co-workers and manager, I have the unique opportunity to partner with many hiring managers at Jacobson and adapt to different processes. This allows me to continually learn from others. CAMERON EADIE Recruiter, 2 years at Jacobson Hometown: Lake City, Florida Alma Mater: University of Central Florida Describe Your Role: I am part of the interim experts team, serving as a recruiter within the temporary staffing department. Our goal is to swiftly address our clients' temporary staffing requirements while actively engaging with professionals within the insurance industry. What Inspires You to Excel in Your Role: My wife, my kids and my team here at Jacobson Advice For Newcomers to The Industry: Treat everyone you connect with the same way you would want to be treated. It helps build rapport, maintain better relationships and grow your network.  Favorite Food: Pizza all day, especially locally owned fresh pizza Last Show You Binge-Watched: I was one of the millions that binged "Suits" last year on Netflix. Highly recommend! If You Won the Lottery, What is The First Thing You Would Do? Our goal has been to: pay off our mortgage and send our kids to college debt free. We would also donate to charities close to our hearts. ANA VILLARREAL Administrative Specialist, 8 months at Jacobson Hometown: Chicago, Illinois Alma Mater: Northeastern Illinois University Describe Your Role: I work in the operations department as an administrative specialist. I am responsible for coordinating travel needs for our consultants. I also assist the office with any administrative tasks. Last Show You Binge-Watched: I just finished watching season two of "The Guilded Age" series. Jacobson in Three Words: Professional, Friendly, Committed You Are Happiest When You Are: With my family Favorite Restaurant: Carson's Ribs Random Fact: In March, I'm attending my first Bad Bunny concert with my sister and cousins. I'm super excited and having my family with me will make the experience even more enjoyable! View previous editions of our Employee Spotlight here. For monthly Employee Spotlights, follow our Facebook page. 

PULSE of the U.S. Labor Market - March 2024

March 2024: Labor Market Pulse

We’re closing out the first quarter of 2024 on a positive note. Unemployment for the insurance carriers and related activities sector slightly dropped to 2% and industry employment continues to grow – reaching a new record high in February. Job openings for the larger finance and insurance industry are the highest they’ve been since September 2023, which hit a record of 509,000 open roles, according to revised numbers from the Bureau of Labor Statistics. According to our Q1 2024 Insurance Labor Market Study, conducted in partnership with Aon plc, 52% of carriers are planning to add staff in 2024 and just 10% plan to decrease their staff sizes. While insurers are acting with more caution than we’ve seen in the past few years, the industry is continuing to grow. For more insights on what to expect this year, view our full results summary. AT-A-GLANCE NUMBERS INDUSTRY HIGHLIGHTS On a year-to-year basis, January* insurance industry employment saw job increases in claims (up 5.1%), reinsurance (up 3.7%), agents/brokers (up 2.5%), TPAs (up 1.9%), life/health (up 1%), and property and casualty (up 0.1%). Meanwhile, jobs decreased in title (down 3.2%). On a year-to-year basis, January* saw weekly wage increases across all areas: title (up 9.8%), agents/brokers (up 7%), TPAs (up 6.5%), reinsurance (up 5.9%), life/health (up 5.1%), property and casualty (up 4.7%), and claims (up 3.7%).   BLS Reported Adjustments: *The BLS Job Openings and Labor Turnover Survey report and reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.

Thank-You Notes: A Powerful Tool for Job Seekers

Thank-You Notes: A Powerful Tool for Job Seekers

In today's competitive job market, it's crucial to set yourself apart from other candidates in terms of qualifications and skills, as well as professionalism and follow through. One often overlooked – but powerful – gesture is sending a thoughtful thank-you note after an interview. Not only does this increase your likelihood of being remembered, it also provides an additional opportunity to express why you're the perfect fit for the role. Below are some key points to keep in mind to make the most out of this small but mighty tool: Act quickly.  Hiring decisions are often made fast, with multiple candidates in consideration. Aim to send a thank-you note within a few hours of your interview if possible (24 hours at the most). Handwritten notes are no longer the expectation; send your note via email to increase the likelihood that your message reaches the right person promptly. If you're unsure of the interviewer's email address, don't hesitate to ask the recruiter or individual who scheduled your interview for assistance. Personalize your message. Tailor your thank-you note to each person you met with during the interview process and mention the role, company and key details of your conversation. This could include highlighting a few points that resonated with you or hitting on specific aspects of the role. For instance, even a simple line such as, "I loved hearing about the great things you’ve been able to do at [Company Name], such as [accomplishment],” can help strengthen your connection and demonstrate you were engaged in the conversation.  Maintain a balance of enthusiasm and professionalism. While it’s important to stay professional, be conversational in your tone and express your enthusiasm and gratitude. Thank the interviewer for the opportunity to discuss the position and acknowledge they took time out of their schedule to do so. A simple “Thank you for taking the time to meet with me" can go a long way.  Reiterate and clarify your capabilities. In today's job market, it's not uncommon for employers to meet with several candidates. Your thank-you note is your chance to reaffirm your interest in the position and the company, as well as remind the interviewer of your key qualifications and the value you bring. Was there something you wanted to share but time didn’t allow? Did you feel you didn’t adequately express a certain skill or capability? This additional touch point offers the opportunity to solidify why you are right for the role. Edit and proofread. While your note shouldn't be too short or vague, be mindful of keeping it concise and impactful. Before sending, proofread meticulously for any typos or errors. You may utilize AI-powered proofreading tools like Grammarly for added assurance that you are presenting yourself in the best possible light. Here's a sample thank-you note template to get you started: Dear [Interviewer's Name], Thank you for the opportunity to interview for the [job title] position at [Company Name] earlier today. I thoroughly enjoyed our conversation and learning more about the role and the team. I am particularly excited about [something specific you discussed that interested you about the company or role]. I believe my [relevant skill or experience] makes me a great fit for the position and I am eager to contribute to [Company Name]'s success. If there is any additional information I can provide to support my candidacy for the role, I am happy to share it. I am looking forward to the possibility of joining the team. Thank you again for your time and consideration.  Sincerely, [Your Name] While a well-crafted thank-you note alone won’t land you the job, it is definitely a valuable way to stand out amid a sea of similarly qualified candidates. Even if you ultimately decide the role isn’t for you, being gracious helps build relationships with hiring managers and recruiters for future opportunities. For more insight on a successful and effective job search, view our recent blog on crafting a strong resume. 

Life and Health Job Outlook Improves for 2024

ThinkAdvisor explores insights uncovered in our Q1 2024 Insurance Labor Market Study. The article highlights increased optimism regarding hiring among U.S. life and health insurers, discussing roles currently in high demand.

Q1 2024 Insurance Labor Market Study Results Infographic

Q1 2024 Insurance Labor Market Study Results Infographic

The results of the first quarter iteration of the 2024 U.S. Insurance Labor Outlook Study are now available. The study, led by The Jacobson Group and Aon's STG Performance Benchmarking, examines insurance industry labor and hiring trends. View highlighted stats in our infographic.

Polling Results: How Are Professionals’ Job Expectations Evolving?

As workforce dynamics evolve, professionals’ priorities and expectations have also undergone shifts. Throughout the past few months, we’ve polled our LinkedIn audience on a number of talent topics, including their sentiments around exploring new roles, work flexibility and more. Consider the below information as you build out your own recruiting strategies in today’s landscape. With the "Great Resignation" behind us, we’re hearing an increasing number of insurance leaders share the challenges of recruiting passive candidates. However, 64% of professionals both actively and non-actively job-hunting said they are very likely to explore a new role and 17% said they were “likely” to explore a new opportunity. While some professionals may still be hesitant to make a move, there are several ways to ease candidates’ concerns and help them feel more comfortable learning about a new position and even accepting an offer. Over the past four years, many insurers have adapted to remote and hybrid work environments; and flexibility in work location remains key for job seekers. We polled hiring managers about candidates’ preferences, and 42% felt flexibility in work location is their top priority, surpassing monetary compensation (30%), flexible work hours (24%) and career development opportunities (4%). When we asked this same question in 2021, 42% said flexibility in work location was most important, followed by monetary compensation and career development (tied at 22%).  Asking employees to be in the office even once a week is posing a hiring challenge. A substantial 73% of employers polled find it more difficult to attract talent when requiring employees to come into a physical office once or more a week. While hybrid work may seem like a reasonable compromise between fully remote and fully in-person, it often still limits candidate pools to shrinking local markets, especially as many professionals have taken on remote positions with companies in other parts of the country. When it comes to relocation, candidates have varying preferences: 54% are open to moving for the right job, 32% are exclusively seeking remote roles and 14% are only looking for local opportunities. In order to avoid severely limiting your candidate pool, it’s important to first evaluate whether a role really must be performed in person. Then focus on how you can best communicate the attributes of both the role and organization to appeal to qualified individuals.  For more of our LinkedIn poll results, view our past posts on professionals’ expectations and  insurers’ insights on the talent marketplace. To share your thoughts in our future polls, follow us on LinkedIn. 

Aon and The Jacobson Group Reveal Staff Increase Trends in Insurance Industry

Reinsurance News examines the findings from our Q1 2024 Insurance Labor Market Study. Our co-CEO Greg Jacobson highlights the industry's stable unemployment rate and insurers' cautious hiring approach.

Q1 2024 Insurance Labor Market Study Results

Q1 2024 U.S. Insurance Labor Market Study Results

The Jacobson Group and Aon-Ward conducted a study to investigate hiring trends within the insurance industry. The following presents the findings of an insurance labor survey conducted in the first quarter of 2024...

Fewer Insurers Planning to Increase Staff in 2024

The Claims and Litigation Management Magazine covered Jacobson's Q1 2024 Insurance Labor Market Study, noting that while more companies plan to maintain current staff levels, technology and claims remain top priorities for growth across the industry.

Jacobson: Survey Shows ‘Significant Pause’ in Industry Job Growth

Carrier Management examines the findings from our Q1 2024 Insurance Labor Market Study. While the results reveal industry-wide optimism for revenue growth, our co-CEO Greg Jacobson noted an interesting shift in hiring trends.

Embracing Multigenerational Dynamics in Today's Workplace

Embracing Multigenerational Dynamics in Today’s Workplace

How you can help employees of all generations best communicate and work together? With hybrid and remote environments limiting relationship-building opportunities, effective multigenerational communication and collaboration can be a challenge. In this white paper, Judy Busby and Rachel McCollister share tips for building strong working relationships with your co-workers across all generations.

PULSE of the U.S. Labor Market - February 2024

February 2024: Labor Market Pulse

The insurance labor market remained stable throughout the first month of 2024. Notably, January hit a record high of 3 million jobs in the insurance carriers and related activities sector. Revised numbers* from the Bureau of Labor Statistics reflect the 2023 average monthly employment for the industry was 2.96 million – 34,000 more positions than previously reported. Additionally, industry unemployment dropped 1.1 points from December, to 2.3%. Meanwhile, the overall U.S. economy’s unemployment rate is 3.7%, marking 24 consecutive months under 4%. AT-A-GLANCE NUMBERS INDUSTRY HIGHLIGHTS On a year-to-year basis, December** insurance industry employment saw job increases in claims (up 7%), reinsurance (up 3.3%), TPAs (up 2.6%), agents/brokers (up 2.6%), and life/health (up 1%). Meanwhile, jobs decreased in title (down 2.8%) and property and casualty (down 0.2%). On a year-to-year basis, December** saw weekly wage increases across all areas: (up 7.5%), TPAs (up 6.5%), title (up 6.5%), claims (up 5%), life/health (up 4.4%), property and casualty (up 4.2%), and reinsurance (up 2.4%).    BLS Reported Adjustments: Adjusted employment numbers for December show the industry saw an increase of 4,100 jobs, compared to the previously reported increase of 4,500 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 2, adjusting current employment statistics (CES) numbers for the past five years. **The BLS Job Openings and Labor Turnover Survey report and reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.