Industry struggling to obtain and retain staff, report says

Industry struggling to obtain and retain staff, report says | Insurance Business

Industry struggling to obtain and retain staff, report says
Insurance managers will struggle to find claims staff in Sydney this year, and inflexibility over requirements and people opting to stay in the roles in the short-term will exacerbate the problem.

This is according to international recruitment consultancy business Robert Walters’ Global Salary Survey. Yesterday, Insurance Business reported on major cities Melbourne, Adelaide and Brisbane.

On disclosing its findings for Sydney, the survey found that in 2013 experienced claims assessors, qualified financial planners and para planners were continually in demand and moving between organisations.

This year we expect these themes to continue but insurance managers may struggle to find claims staff – inflexibility over requirements and people progressing from these roles will exacerbate the shortage.  This will be particularly the case in life insurance.It recommends that managers offer employees a transparent and finite career path and are more flexible in who they are prepared to recruit.

“We’ve found that providing timelines and examples of progression attracts people more effectively than promises of a higher salary.”

One of the largest increases in recruitment activity in 2013 was in insurance. This was offset somewhat by reductions in the presence and headcount of accounting functions locally, as centralisation into the main Asian hubs of Singapore and Hong Kong increased. The vast majority of large organisations restructured or improved processes in some way, which shook up job descriptions and highlighted where staffing needs to change in 2014.

This year, as more process-driven roles are rationalised, the focus will be on hiring value-add professionals. Companies will therefore want candidates who can communicate on a more commercial level and partner with the business they represent, while capital and funding experts will also be needed to drive forward new finance policies.

The survey says that long and cumbersome recruitment processes can have a huge impact on an employer’s brand and therefore managers should ensure roles and processes are signed off internally.

Finance in Perth encountered an extremely challenging year in 2013 due to a slowdown in the mining sector and many projects moved from construction to production. This dramatically reduced the number of new roles available, and many people working or looking to work in mining were forced to look elsewhere. The growth sectors in Western Australia are healthcare, aged care and oil and gas.