Credit: BullRun/Adobe Stock The insurance industry is in the midst of a talent crisis. According to the Bureau of Labor Statistics, in 2022, it was second-to-last in national industry rankings for recruiting new talent. Attracting and retaining talent is a concern across all industries, with 10.8 million job openings and only 5.7 million unemployed workers, according to the Bureau's 2023 report. In my 25 years in insurance and technology, I've witnessed multiple hiring trends; however, this is a uniquely challenging time for the insurance industry.
|An aging workforce
Hiring top talent is a particular problem for insurance companies. Most of our workforce is either at or quickly approaching retirement age. Nearly half a million insurance employees plan to retire in the next few years, according to the U.S. Bureau of Labor Statistics.
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