1、More Industry Insights2024Insurance Talent Trends INSURANCE TALENT TRENDSAs we near 2024,the insurance labor market is slightly slowing,punctuated by widely publicized industry layoffs.Leaders are facing lingering challenges around remote and hybrid work,as well as pushback on return-to-office plans

2、.Were seeing a focus on the employee experience,professional development,innovative talent strategies and more as leaders plan for successful futures in the evolving business climate.The new year will be largely about reaching a balance that meets organizational needs,while also respecting individua

3、ls priorities.We hope you find the following trends and insights valuable as you consider your own talent strategies.Please dont hesitate to reach out if our team can be of assistance in the new year.Wishing you a successful 2024,Gregory P.Jacobson,Co-Chief Executive OfficerG.Jacobson Richard L.Jaco

4、bson,Co-Chief Executive Officer2024010203040507The employee experience is a significant differentiator.Workplace flexibility finds a balance between employee demands and business needs.Organizations become more strategic around long-term hybrid work.Training and development are key areas of focus.Co

5、llaboration is more intentional and deliberate.Creative talent solutions help accommodate a variety of needs.2023 The Jacobson Group206Retention and engagement remain challenging.More Industry Insights2024 Insurance Talent TrendsProviding employees with a sense of belonging and purpose will be essen

6、tial to remain an employer of choice in 2024.However,research from Forrester suggests next year will see a drop in investment in areas such as DEI,training,flexibility and perks.Regardless of potential budget cuts,investing time and energy in the employee experience cultivates engaged and productive

7、 employees while also directly impacting the customer experience.Identifying and providing employees with the right resources,support and feelings of empowerment will be key success factors,even amid potential financial constraints.THE EMPLOYEE EXPERIENCE IS A SIGNIFICANT DIFFERENTIATOR.More Industr

8、y Insights 2023 The Jacobson Group42024 Insurance Talent Trends 2023 The Jacobson GroupEver since remote work became widely adopted in 2020,its been highly unlikely professionals will willingly return to the restraints of the pre-COVID workplace.However,many insurers have begun implementing return-t

9、o-office strategies and recruiting for in-office positions.As the business world evolves,theres no one-size-fits-all workplace and all professionals have their own preferences around where and how they choose to work.It will be important to find a balance between employee demands and business needs.

10、Those who can provide parameters that are intentional and purposeful,while offering as much flexibility in hours and location as possible,will come out ahead in terms of securing and retaining top talent.More Industry Insights2024 Insurance Talent TrendsWORKPLACE FLEXIBILITY FINDS A BALANCE BETWEEN

11、EMPLOYEE DEMANDS AND BUSINESS NEEDS.68Virtual work has also fundamentally shifted local talent pools.In 2024,insurers who plan to be hybrid long-term will need to establish strategies for replenishing and building both their internal and external benches of local talent.Insurers asking employees to

12、come into the office even once per week are limiting themselves to local candidates,yet still competing with organizations across the country for this talent.In the past few years,professionals have increasing taken jobs outside of their local market,often for more pay and the opportunity to work fu

13、lly remote.To remain successful in 2024 and beyond,insurers must acknowledge and accept these limitations,while focusing on developing their internal employees.Internship and trainee development programs can also attract new college graduates who are more open to making a geographic move and can bui

14、ld a career with the organization.More Industry Insights2024 Insurance Talent TrendsORGANIZATIONS BECOME MORE STRATEGIC AROUND LONG-TERM HYBRID WORK.2023 The Jacobson Group 2023 The Jacobson GroupMore Industry InsightsFor some organizations,training and development programs have taken a back seat th

15、e past few years due to more immediate priorities.Moving into 2024,the consequences from this lack of investment will become more of an issue for two core reasons:the ability to keep up with the evolving business landscape and employees expectations around professional growth.Artificial intelligence

16、 and machine learning are progressing at a rapid pace with some studies estimating workforce productivity will increase by up to 37%in the next few years making it necessary to reskill and upskill employees to best work alongside these and other advancements.Insurers must identify the human strength

17、s necessary to complement new technologies and begin ingraining them into their training and development programs.2024 Insurance Talent TrendsTRAINING AND DEVELOPMENT ARE KEY AREAS OF FOCUS.102024 Insurance Talent Trends12With employees working across various locations,the ability to effectively col

18、laborate has been a struggle for some organizations in the past few years.However,as a decline in communication,innovation and camaraderie become prevailing risks,insurance leaders are working to best recreate and reestablish a culture of collaboration.Defining clear expectations and guidelines for

19、collaboration,while providing the right tools and support,will be essential.For those with remote teams,it will also be critical to help bolster working relationships by facilitating connections and visibility throughout the company,while encouraging ongoing listening and knowledge-sharing at all le

20、vels.More Industry InsightsCOLLABORATION IS MORE INTENTIONAL AND DELIBERATE.2023 The Jacobson GroupWhile 2023 didnt see the level of job-hopping that became infamous in 2022,insurance professionals continue to explore opportunities that better meet their personal and professional goals.The labor mar

21、ket may appear to be slowing,yet the demand for insurance talent remains high especially in areas such as technology,claims and underwriting.Carving out time for candid conversations around employees career aspirations and goals should be a top priority to ensure their needs are being met to the bes

22、t of the companys ability,while identifying any flight risks.Along with individualized retention plan development,succession plans should also be revisited on a frequent basis.The pace of change has accelerated while lengths of tenures have shortened,making active succession and contingency planning

23、 key for preventing severe gaps in service and workloads.More Industry InsightsRETENTION AND ENGAGEMENT REMAIN CHALLENGING.2023 The Jacobson Group142024 Insurance Talent TrendsThe current market is making some insurance leaders hesitant to move forward with heavy investments in new positions and pro

24、jects.As new priorities and challenges come to the forefront in 2024,flexible talent solutions will be invaluable.This may include employing fractional executives to fill leadership gaps or carry the company through a specific challenge or growth initiative.It could also mean creatively leveraging s

25、kill sets to expose current employees to future opportunities and lateral moves.Those who are most innovative and future-focused with their human capital strategies will see the greatest long-term returns.More Industry Insights2024 Insurance Talent TrendsCREATIVE TALENT SOLUTIONS HELP ACCOMMODATE A VARIETY OF NEEDS.2023 The Jacobson Group162024 Insurance Talent Trends18FOR MORE INFORMATION,CONTACT:The Jacobson Group+1(800)466-Copyright 2023.The Jacobson Group.All rights reserved.