How insurers are winning the tussle for talent

People want fair compensation and benefits, they want flexible working arrangements, and, increasingly, they want to work for employers who are in tune with the major societal impacts of the day, such as diversity, equity, and inclusion (DE&I) and the green economy. If insurance employers can deliver that, then they may be able to tip the scales of what's being called the Great Resignation or the Great Reshuffle. Julia Lamm, principal and global workforce strategy leader at PwC US, and co-author of PwC's Top Insurance Industry Issues in 2022 report, believes that insurers can win the war for talent. She said many insurers are well-positioned to deliver the career prospects, culture, and workplace environments that current and prospective employees are demanding today. "One way that the insurance industry has been'progressive' in how they're tackling post-pandemic and the future of work is that the vast majority of insurance organizations have accepted flexible work arrangements [and] hybrid working models," said Lamm. "Most of my clients in the insurance space have decided to embrace hybrid working. They went through change management over the last two years and were forced to work remotely. They made investments in virtual technology and virtual collaboration tools […] which has been really exciting for the industry. "I think the opportunity that still remains for insurers is in defining a compelling value proposition for why people should come and work in the insurance space.