Over the past few years, our economy has been plagued by a recession, but countless new studies suggest we are gearing up for a turnaround. Still, we’ve been told this before. However, thanks to new research on insurance company trends, many employers in this industry are looking to recruit more in 2012. So, should we hold out hope this time?
Overall, the insurance industry appears to be showing major improvement. According to Insurance Journal, more than half of insurance companies intend to hire more employees. Career Builder and Harris Interactive even mirrored these predictions when considering other industries. Thus, it would seem that employers are finally returning to their pre-recession hiring cycles. In the first quarter of 2012, one-third of employers were hiring and many were expecting a 30% new-hire increase during the second quarter.
Insurance staffing continues to be a niche market because of the challenge of finding the right candidate for the job. On the one hand, that makes job growth in the industry even more exciting, but it can also be daunting to many carriers and TPA firms. Many employers find it difficult to hire new personnel using internal resources because they must find a suitably qualified individual, with the right designations and adequate experience. After a natural disaster occurs, insurance staffing explodes by deploying catastrophe adjusters and claims adjusters within 24 hours. This is where insurance staffing companies step in to take the headache out of the time-sensitive recruiting process.
Insurance job growth is just the thing our country needs to get out of the slump. Could this be the end of our recession? Perhaps. As some employers gain confidence and momentum in rolling out the welcome mat for new employees, some are not willing to act so fast. With an increase in taxes and the supposed tighter government budget, many financial experts predict we will slide backwards rather than launch forward. Reports may state that temporary employment is on the rise, but there are still doubts. For instance, 19% of insurance carriers surveyed revealed they would actually be decreasing their staff in the next 12 months. Nonetheless, that still leaves 32% of those surveyed saying they will recruit in 2012.
So, if you are in the market for an insurance job in 2012, this is looking like a good year for you. Do you think the American economy is finally on its way up? Comment on our blog and let us know your thoughts.
Check out these articles for more information:
Insurance Journal: 51% of Insurers Expect to Increase Staff in 2012
CareerBuilder Job Forecast Survey
U.S. Employment Growth Seen Rebounding From Slump