A new report from recruitment giants Reed is claiming that confidence has returned to the insurance jobs market, as over a third of workers (39%) set their sights on new roles for 2013 and job opportunities continue to rise year-on-year.
The Reed Insurance 2013 Salary and Market Insight canvassed the attitudes of 1,500 employers and employees, also suggested that job security is strong with three quarters (77%) of the insurance sector feeling secure in their employment, sparking confidence to look for the next role.
There were some areas of concern, including responses to questions about stability within the workforce. One third of insurance workers (33%) said the workforce at their organisation was ‘unstable’, against an average of 16% across the jobs market as a whole.
Nevertheless, Ian Bull, Divisional Manager, at Reed Insurance, commented: “The jobs market is a good indication of the mood of business and the increase we have seen in insurance job opportunities over the past year indicates confidence in the sector. Insurance employers are feeling confident to invest in talent and it is encouraging that this has now translated into confidence for workers to look for new roles too.”
The report also highlighted that half (50%) of insurance employers are worried about staff moving on to seek better opportunities, despite 57% of employees saying they are satisfied in their current role. In response to this, employers have increased the financial rewards given to employees, with bonuses up 39% and pay rises up 30%.
Ian Bull continued: “While it is clear some insurance sector employers are concerned about losing talent, it is important to remember that a buoyant jobs market presents opportunity. Employers wanting to hold on to talent should ensure they are investing in staff – through training and promotion opportunities – and those that are looking to recruit can be confident that the available talent pool has widened.”