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Labor Study Results Show Continued Optimism in Insurance Industry

Source: The Jacobson Group

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Posted on 21 Sep 2011

Employment in the insurance industry grew 1.45 percent over the past six months, surpassing the anticipated 1.3 percent growth rate. This was just one of the key findings of the 2011 Mid-Year Insurance Labor Outlook Study conducted by The Jacobson Group and Ward Group.

Proving to be a valuable industry tool, the survey collects data on revenue and hiring projections from insurance industry organizations. With 131 participating companies, the study revealed the highest amount of optimism in terms of staffing and revenue projections since its inception in 2009.

“The insurance industry’s growth has been tepid, though not jobless,” says Gregory Jacobson, chief executive officer of The Jacobson Group. “The industry offers a tremendous opportunity for growth and we should expect to see the job market heating up.”

The study’s highlights include the following:

• 44.4 percent of all companies plan to increase staff during the next 12 months.

• 75 percent of all companies surveyed plan to increase revenue in the next 12 months.

• The likelihood of companies increasing staff is up 14 percent since beginning of year. This trend was consistent in nearly every function except operations, which remained flat.

• Despite a reduction in permanent staffing and high unemployment, recruiting has remained difficult and difficulty has increased slightly over the past 18 months.

The next study will be conducted in January 2012. For more details on how to participate, contact Vince Albers of Ward Group at valbers@wardinc.com.

About The Jacobson Group:

The Jacobson Group is the nation’s leading provider of insurance talent. For 40 years, we have been connecting insurance organizations with professionals from the board room to the back room on both a permanent and temporary basis. We offer a variety of solutions including executive search, professional recruiting, RPO, temporary staffing, subject matter experts, and onsite and work-at-home operations support. Whatever the need or situation, Jacobson is the insurance talent solution.

About Ward Group:

Ward Group is the leading provider of benchmarking and best practices research studies for insurance companies.  The firm analyzes staff levels, business practices and expenses for all areas of insurance company operations to help companies measure results, optimize performance and be more profitable.  For more information about Ward Group, visit www.wardinc.com.


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