empowering companies through knowledgetitle microsoft powerpoint - labor outlook webinar feb 2010 w...

Empowering Companies Through Knowledge®

February 11, 2010

Empowering Companies Through Knowledge ®©Copyright, 2010. All rights reserved. Do not distribute without permission.

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About Ward Group

• A consulting and analytical firm specializing in the insurance industry and the leading provider of industry benchmarking and best practices services for U.S. and Canada

• Expertise in staffing level analysis and expense management

• Annual evaluation of the financial performance of industry

• We help insurance companies measure results, optimize performance and be more profitable

Jeff Rieder, CPA, CPCUPresidentWard [email protected](513) 746‐2400 (direct)


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About The Jacobson Group

• For nearly 40 years, The Jacobson Group has been committed to providing staffing and search solutions that drive the success of insurance organizations nationwide:

– Professional Recruitingcandidate‐sourcing services for all organizational levels and disciplines on an exclusive basis

– Executive Search and Selectionproven search and selection methodology for executive‐level assignments on a retained basis

– Strategic Solutionshigh caliber interim and consulting talent for staff augmentation and project‐based needs

Greg JacobsonCo‐CEOThe Jacobson [email protected](312) 884‐0407 (direct)


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Study Objectives

• Analyze current labor trends and future staffing expectations

• Segment companies by industry, size and outlook to determine factors affecting staffing expectations

• Provide independent perspective on market trends and considerations for strategy and staffing plans


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Unemployment Rates

Source: U.S. Bureau of Labor Statistics


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Participant Profile


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Revenue and Staffing Expectations


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Staffing Plans for 2010

Increase likely indicates companies anticipate improving market conditions. Largest increases since July 2009 were noted in Sales and Marketing activities.


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Staffing Plans By Industry & Breadth


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Staffing Plans – By Employee Size


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Revenue Outlook

Percentage of Respondents Expecting Changes


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Recruiting Challenges Still Exist

On a scale of 1 – 10 (10 being most difficult), companies responded that positions are still moderately difficult to fill.

Actuarial positions were most difficult to fill (particularly for L&H companies), followed by executive positions.

Operations positions were considered the least difficult to fill. Accounting dropped 7/10ths of a point from the 2009 study to become the next least difficult.


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Likelihood of Increasing Staff By Function

On a scale of 1 – 10 (10 being most likely), Technology and Sales/Marketing positions are most likely to be added.

Compliance positions were the least likely to be increased for the 2nd year of study.


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Reasons for Increasing Staff


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Likelihood of Decreasing Staff By Function

Companies remain 3 times less likely to decrease staff than add staff. On a scale of 1 – 10 (10 being most likely), Underwriting and Operations positions were most likely to be decreased.

Actuarial and Compliance positions were least likely to be decreased.


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Reasons for Decreasing Staff


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Notable Trends – 2009 to 2010


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Summary


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Summary

• Fewer staff reductions are expected and substantial layoffs are not expected. Only 13% of companies expect staff decreases in 2010, compared to 22% in 2009.

• Sales/Marketing additions have grown the greatest (possibly in anticipation of better market conditions in 2010 and related expansion strategies).

• Recruiting is slightly easier for most positions in 2010 versus in 2009.

• Recruiting for technology positions remains a challenge, particularly for regional carriers. In addition, actuarial and executive positions are still difficult to fill across all segments.

• Only 11% of companies are making staff reductions due to declining business volume – most reductions are due to automation improvements.


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Projection

We predict a 1.96% increase in industry employment for 2010, creating 26,500 new jobs.


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Staying Informed

Our next survey will be conducted July 1 – 15, 2010.

For information on how to participate, please

email [email protected].

Thank you for your participation!

Questions?

empowering companies through knowledgetitle microsoft powerpoint - labor outlook webinar feb 2010 w...

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