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Talent 2020: Surveying the talent paradox from the employee perspective
The view from the Insurance sector
Based on a global talent survey across five industries, this paper looks at the specific findings from the insurance sector and how they may effect the industry.
Insurance firms need to ask themselves the fundamental questions of the talent paradox: Are employees truly satisfied? Or are they simply accepting their fate by “making do” with their current employers because of a difficult job market?
This report highlights the key talent trends in the insurance sector and their possible impact on the organizations. Some key findings:
- Insurance employee respondents reported a strong intent to stay with their employers, which is in line with other sectors and an improvement from 2011. All sectors, including Insurance, emphasized the importance of meaningful work and sound leadership as key to their retention.
- Respondents in Insurance were less likely than those in other sectors to be concerned with workforce reductions; therefore, employee attrition in Insurance is more likely to be self-generated.
- Significantly less career movement was noted in Insurance versus other sectors. This absence of movement was noted as a potential source for turnover.
These results combined with lower marks in retention and HR/Talent efforts provide a clear outline of focus areas that Insurance employers should consider within their talent strategies for 2013 and beyond.