Hays Insurance - July 2010
Hotspots
As the insurance market improves, there has been a significant increase in demand for There is a shortage of quality skilled candidates in niche areas of the local market, such as Brokers and Claims Managers in professional/financial lines and Claims Assessors in the life space.
A skills shortage also exists within the broking industry, creating a constant need for good Commercial Brokers and a high level of competition for talent.
Claims is also an area of need. Recent storms in several states have created a lot of movement in this area, with claims professionals now more comfortable to consider new positions. They are also seeking higher salaries.
The coming quarter
Following market stabilisation and an increase in the number of companies specialising, we expect to see a steady increase in hiring activity.
Executive recruitment
Executive recruitment activity is evident in the Broking market. Skills required by employers include new business acquisition and strategic business and product development.
Employer trends
In response to rising areas of demand, employers are considering overseas candidates, particularly at the senior end of the market, and are considering recruiting entry-level staff who they can up-skill. Employers are also happy to hear about speculative candidates rather than wait for a need to arise. If a solid candidate who could add value to an organisation is available, an employer will often find a way to add them to their business.
In order to appear attractive to candidates, employers are improving benefit packages to differentiate themselves from competitors. Salaries are increasing in line with the competition for commercial broking skills.
Recruitment timeframes are shortening as employers compete for candidates.
Candidate trends
There has been an increase in senior level candidates who are interested in pursuing new opportunities, particularly as more jobs become available and confidence increases. Candidates are also looking to move into areas where they have not previously specialised in order to diversify their experience and skill set.
