Insurers & Agencies Optimistic — More Hiring, Fewer Layoffs


The Jacobson Group and Aon’s, Ward do a semi-annual look at insurance employment. It appears that most companies doing business in insurance will be doing some hiring in the next 12 months.


The Semi-Annual U.S. Insurance Labor Market Study said 72% of companies and agencies are going to add to staff. The last study was done in July of 2021. It had 58% of insurers going to be hiring. So the news is good.


76% of small businesses (those with fewer than 300 employees) will add jobs

67% of medium businesses (300- 1,000 employees) will hire

71% of large businesses (more than 1,000 employees) are going to add to staff


Just 3% of insurers and agencies — of any size — say they will not be hiring, or will be reducing staff.


Meanwhile, only 3% of businesses said they anticipate decreasing staff in the same time frame.


Most of the companies surveyed think business in the next 12 months will be very good:


82% expect revenue to grow in the next year

61% expecting revenue to grow will be the reason they increase hiring

52% will hire to fix understaffed areas of the business

41% will hire because of expanding business


Jacobson’s CEO Greg Jacobson said the big problem these businesses will have hiring new people is the specialized nature of insurance.


In terms of acquiring and retaining insurance talent, were in the most competitive environment many of us have ever experienced,” he said. New roles and opportunities are emerging, job openings are near an all-time high, and retirements are accelerating. As insurance leaders evaluate their talent strategies, flexibility in all areas is essential for long-term success.”


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