The industry is desperately worried about replacing the plethora of experienced insurance professionals that will retire this year. The loss of experience and know-how alone is frightening. Also of concern is the growing workload. As an industry, we’re all — or at least a huge percentage of us — are at job overload.
Many are begging bosses and managers in all walks to ease our burdens.
Don’t look at 2017 to be the year your pleas are heard. A survey from Pricewaterhouse Coopers (PwC) — who polled 1,379 CEOs in 79 countries — says:
• Just 41% said they’ll be adding personnel
That’s down from 49% saying they’d add staff in 2016 and 50% in 2015. The 2014 figure was 59%. Also, disconcerting — to employees that is — is the downward hiring trend when the growth outlook for insurance is getting brighter.
• 38% of CEOs are very confident of short-term revenue growth in 2017
• That’s up from 35% in 2016
That’s not all:
• 79% have organic expansion at the top of the planning for 2017
• 41% are going to do seek mergers and acquisitions this year
• 23% want to strengthen innovation capability to capitalize on new opportunity
PwC’s Bob Moritz who is the firm’s global chairman said, “Despite a tumultuous 2016, CEO confidence is moving back up — albeit slowly and still a long way from the levels we saw back in 2007. But there are signs of optimism right across the globe, including in the UK and US, where despite predictions of a Trump slump and a Brexit exit, CEOs confidence in their company’s growth are up from 2016.”
Source link: Insurance Business America