Continuing a trend that’s persisted for several quarters, the latest Insurance Labor Market Study from Jacobson Group and Aon finds a big gap between the percentage of carriers expecting to boost top lines and those anticipating staff growth.
The latest installment of the semi-annual collaborative study of insurance carrier hiring expectations, based on a January survey of insurers that employ just over 200,000 people (mostly property/casualty), finds that nearly three-quarters of survey respondents (74%) expect to growth revenue in the coming year. At the same time, just 55% expect to grow staff to support their biggest businesses.
While the 19 percentage point gap between those two figures is actually below the 25 and 27 percentage point gaps of the two prior surveys, Jeff Rieder, partner and head of Strategy and Technology Group Performance Benchmarking at Aon, drew attention to the recent persistence of the low-to-mid-50s percentage on the staffing side.
Speaking during a webinar last week, Rieder noted that survey results, which date back to 2009, have historically s