global recruitment specialists
General insurance career advice
How to make the most of 2014 - advice for general insurance professionals
Daniel Hurley, Recruitment Consultant at Reed Insurance in Southampton, highlights the key trends that will affect the general insurance jobs market in 2014.
Encouraging growth in the insurance jobs market
We've witnessed an encouraging amount of growth in the insurance recruitment market across the last part of 2013, and the last three months in particular have been the busiest I've experienced since starting in recruitment in 2008.
Insurance jobseekers have a large number of options open to them currently, with an increasing number of vacancies for trading underwriters, commercial account handlers and claims handlers within both large and relatively small organisations, whether these be insurers, brokerages or claims management firms.
Although salaries have been static recently, we are starting to see signs that 2014 may prove to be a turning point. What is particularly encouraging is the fact that smaller businesses are offering increasingly competitive packages. This demonstrates a growing market confidence that is good news for employers and jobseekers alike.
Increase in number of insurance jobs & growing employer confidence
Within the £18-35k bracket, we've seen increased demand and movement across the board, whether that be in the greater number of opportunites for those moving into their second insurance job or the increased number of senior account handler vacancies.
What's particularly noticeable is that companies are now increasingly willing to take on less experienced staff with a mid- to long-term plan for their development. Clients of mine who have historically recruited on an ad hoc basis are now looking to grow their teams definitively with multiple new hires and a 5-year plan for the development of each.
There should be increased depth and breadth to the variety of opportunities available to insurance professionals in 2014, so, if you're looking to progress your career, the upcoming year is the time to do it. With more and more companies looking to hire jobseekers that they can develop over time, it's well worth doing your research and making sure a prospective employer's vision and plans align with your own.
Confidence within the £50k+ market
While historically we have seen a large number of £50k+ jobseekers registering with Reed Insurance because they are facing, or have just experienced, redundancy, we are now finding that a greater number in this bracket are looking for a new job of their own volition. This confidence in the market from the higher end of the pay scale should make those in the mid- to senior-range feel confident too.
We are also finding that companies are now slightly more inclined to take a risk on a high level jobseeker, offering positions to those for whom they have no pre-determined need but who they feel could bring added value to the business. This makes 2014 a good year to send out speculative applications.
Want the latest Insurance news & views? Read InsuranceConnect »
Make 2014 the year to progress your career
In 2014 there is a better chance than ever that, if you are looking to progress your career, the options will be there for you. This means it is more important than ever to be sure in your next steps. If you're looking to move elsewhere, be sure that this is what you want to do and research as much as possible so that you know where you want to be.
If you've been thinking about making any move to progress your career - whether that's growing your skill set, studying for a professional qualification, or moving to a new employer - but have been holding off, take courage from the fact that the market is looking up and make 2014 the year to make that push.