The Staffing Crisis in Insurance

65% of those who resigned from a job in the past two years left the industry entirely.

The Insurance Industry is a wonderful market that looks after the welfare of families and the businesses they work in. We have pretty much every role discipline you can think of. We should be the destination of choice and yet we aren’t and have been rubbish at attracting people and now people are leaving in droves.
We are at a point of crisis, with soaring employee dissatisfaction, high turnover and cost to recruit, low productivity and a huge wellbeing challenge. The world has changed and fast, option, expectations and simplicity of movement is creating huge opportunity for employees, with so many being historically underserved they are using the window to hop for the promise of more money and flexibility. Businesses are caught and paying the cost.
We have gone through a paradigm shift and are searching for answers in old solutions. A point of crisis is where new answers are born but we can’t navigate crisis individually or with piecemeal approaches to solve symptoms. The McKinsey report is a great way of categorising the reason people leave but it’s not a solution. We have to come together, it’s a time for unity, collaboration and answers.
I’ve worked across industries and I’m passionate about the insurance market. I’m keen to recruit a group of forward-looking CEO’s/Exec and HRD’s to panel a discussion regarding the real root causes and the steps we can take retain, grow and attract talent to our industry. It’s costing everyone dearly and only the very few are benefiting. Existing approaches are creaking and old processes in new technology won’t cut the mustard.
2023 is going to be very tough for many, but if we can take some positive steps, I think we can source more energy and efficiency in our people by looking after them in a different way.
Please contact me and see how C-Coach can help.