Insurance Hiring Trends
One recruiting trend evolving since mid-2018 is the lengthening timeline for recruitment. Many talent procurement searches that normally would take 30-90 days, are more commonly expanding to 6 months and even one year or more depending on the niche. The timeline currently can be triple that required just 3 years ago. Companies should be aware of this and avoid waiting until the last minute to begin their search for talent.
Several of IRES’s talent procurement projects initiated between 2018 and early 2019 took well over one year to conclude and many peers in trade organizations report the same findings. The reasons are varied. Competition is at an all time high. Compensation demands have increased. Publicly traded companies are often hamstrung by the inability to offer necessary sign-on or hiring bonuses needed to win over candidates acceptance
Some companies are encumbered by a slow process causing hesitant candidates to abort.
Here are the top 5 causes that prohibit companies to conclude successful hires quickly.
Potholes To The Corporate Recruiting Process
- Human Resources Limited Availability Causing Delays Arranging 1st Interview
- Excessive Initial Interviews Instead of Single Consolidated
- “Wild Card” Management That’s Not Relevant to Hiring
- Non-Existent Offer Remuneration Preparedness
- Lack of Compensation Negotiation Capabilities