Many insurers are facing mounting skills shortages. Yet, investment in recruitment, training and career development often trails behind other financial sectors. The primary focus can often be short-term demands rather than securing the talent companies need to meet longer term strategic objectives.
Looking ahead, demographic shifts, evolving aspirations and accelerating globalisation are set to transform the shape of the labour market and could make it even harder for insurers to attract and retain good people.
In this competitive labour market, successful companies will need to develop a strategic approach to HR management capable of anticipating and responding to evolving business needs and workforce expectations. They will also need to identify and realise opportunities to differentiate benefits, career development prospects and other key aspects of their employment brand in home and emerging markets.