Insurance industry offers ‘strongest hiring prospects’

Insurance industry offers ‘strongest hiring prospects’ | Insurance Business

Insurance industry offers ‘strongest hiring prospects’
New research has highlighted the insurance industry as the strongest sector in Australia for prospective job seekers.

The Manpower Employment Outlook Survey for the second quarter of 2015 noted that the insurance, finance and real estate sector offered the “strongest hiring prospects".

The research, compiled by workforce solutions company Manpower, noted that the insurance industry offers an 18% net employment outlook compared with other industries which barely passed the 10% mark.

Lincoln Crawley, managing director of ManpowerGroup Australia and New Zealand, stressed that the results show strong growth in job prospects in the insurance industry thanks to key industry changes.

"Finance, real estate and insurance remains one of the best performing sectors,” Crawley said.

“The Financial Services Inquiry and recommendations that were handed down earlier this year have put a spotlight on insurance, financial advice and superannuation. We’re seeing larger companies beef up their risk and compliance teams due to the increased focus on the sector."

The research found that the good outlook for the industry was higher than when compared with the previous year.

“With a Net Employment Outlook of +18%, employers anticipate the upbeat hiring pace to continue in the April-June time frame. Hiring prospects are two percentage points stronger when compared with the previous quarter and remain relatively stable year-over-year,” the report states.

“Employers in the Finance, Insurance & Real Estate sector expect the most dynamic second-quarter hiring pace.”

Crawley noted that the insurance sector is bucking the trend of many other areas of work for the coming quarter.

"Low growth, falling wages and lower consumer confidence coupled with uncertainty about Federal Government leadership is causing many Australian employers to throttle down their hiring plans for Quarter 2 or stop them altogether.

"There are some bright spots. However, we’re not seeing clear signs that hiring activity will gain any additional traction in the next three months, and employers are expecting to contend with another year of certain uncertainty in Australia," said Crawley.