The staff at Salvatore's insurance company had been overworked and understaffed for months. His employees were facing burnout, and he knew he needed to act fast.
He was hosting a booth at the college's career fair. Several students left their email addresses to be contacted for internships or entry-level positions.
"This is a good start," he said to himself as he looked over the list.
An older woman approached his table.
"Hi, I'm Salvatore, owner of Salvatore's Insurance Inc. Are you a student?"
"No," the woman smiled. "My name is Kristin. The company I work for has a booth here as well."
"Neat. Who do you work for?"
"I work for a national recruitment agency. How long have you had your own business?"
Salvatore's jaw nearly dropped. "Over two decades but I'm looking to recruit some new employees. Is that something you could help me with?"
"Absolutely. Here's my card," Kristin said.
"Thank goodness you came over here," Salvatore said. "When can we set up a meeting?"
"How about after this event?"
Unlike the wider economy, the insurance industry has maintained stability during the 2020 pandemic. In fact, the overall insurance industry in the United States is experiencing increased demand for front line staff positions. However, even with US unemployment rates reaching all-time highs, the insurance industry continues to face difficulty filling positions. Experts suggest that staffing will increase, albeit at a slow pace.
Several departments within the insurance industry are looking to hire, including technology, underwriting, and analytics. Insurance companies may need to offer additional incentives, such as flexible work, increased pay, or improved benefits, to attract new hires. Current insurance clerks could benefit from these incentives as well, which could reduce staff turnover. Insurance companies may also hire more recruitment officers to help expand recruitment efforts.
Footnote: Insurance Journal, “Insurers Say They’re Having Trouble Recruiting New Employees,” Insurance Journal, September 2, 2020, https://www.insurancejournal.com/news/national/2020/09/02/581043.htm