Leading recruitment firm Hays
has revealed its outlook for hiring prospects in the insurance industry for the coming months.
The Hays Quarterly Report
outlines specific industry trends the company expects to see between now and June, and the outlook is positive despite the competition.
“The insurance market in Australia is buoyant and many companies are looking to promote suitable people from within to create more positions at a junior level,” the report states.
“It's a competitive market for candidates at the moment and candidate levels are always increasing. We're also seeing a lot of candidates strengthen their skills by engaging in online courses to deepen their understanding and qualifications in certain areas they may not have as much experience.”
Even with a competitive market, job-seekers are expecting higher wages in the broker business, according to the report.
“Candidates’ salary expectations are increasing, especially for general Broker/Account Business Development Manager roles, where remuneration is expected to be around $110,000.”
The report highlights temporary roles in claims departments as a key area of growth within the industry as well as “more senior leadership and BDM roles” which will become available as the economy recovers.
In the broker business, the Queensland market is one to watch with negotiating ability a highly sought factor.
“A number of companies in the Queensland market are seeking Distribution Managers and Insurance Executives. This is stirring up movement among the upper tier Brokers and Insurance Managers seeking other job opportunities,” the report notes.
“In-house Executives and Broker Business Development Managers with the ability to negotiate with underwriters are also being sought.”
Geographically, candidates that are willing to make interstate moves to Western and South Australia will benefit from a growing market in the region but the Sydney arrivals are increasing competition.
“In terms of candidate trends, people are looking to make interstate moves to Sydney at the moment due to the belief that there are more opportunities in the city than there are in others.”
Job-seekers are also utilising LinkedIn with increasing frequency as they look to further develop their resumes.
“Candidates are enhancing their LinkedIn profiles and gaining advice on the formatting of their resumes.
“More often than not, an opportunity for career progression or for a new challenge will push them to further develop themselves in an environment that is no longer comfortable.”