- Candidate shortages proceed to be a prevailing difficulty available in the market, with smaller corporations discovering expertise acquisition troublesome as a result of funds restraints and serving as a major catalyst for M&A exercise throughout the business
- Worker pushback leads to 70% of corporations adopting a hybrid work mannequin, balancing time spent in-office with the flexibleness of WFH
- Candidates selecting to maneuver away from cities with a very excessive price of dwelling, relocating to extra reasonably priced areas
Vancouver, BC, March 15, 2024 – The candidate scarcity continues to form the job market within the insurance coverage sector and, whereas demand for expertise continues to develop, wage development has really tempered barely – not rising as dramatically as in years prior.
Nonetheless, smaller corporations are discovering it difficult to compete in opposition to bigger brokerages, as a result of tighter margins and fewer flexibility round compensation. This has been a catalyst for some notable mergers and acquisitions throughout the business.
A significant speaking level has been office flexibility. Employers desire to have their crew within the workplace, however the ensuing pushback from workers has resulted in a compromise, with a major variety of corporations (roughly 70% of our consumer base) adopting a hybrid work mannequin, in hopes of retaining present workers and attracting new expertise.
Lastly, insurance coverage professionals are on the transfer, with a gradual migration taking place as candidates relocate from high-cost cities like Vancouver and Toronto, selecting extra reasonably priced options equivalent to Alberta, Manitoba and Saskatchewan.
Affect Recruitment publishes the 2024 Wage Information: Insurance coverage Version to showcase these developments and supply present wage information for hiring managers in addition to business professionals.
Obtain a full copy of the 2024 insurance coverage wage information right here.
Concerning the Wage Information
Affect Recruitment’s 2024 Wage Information: Insurance coverage Version was created to function a sensible useful resource for insurance coverage corporations and insurance coverage professionals alike. The wage data displayed relies on profitable placements remodeled a twelve-month interval by Affect’s insurance coverage crew, who specialise in inserting insurance coverage professionals throughout Canada.
Their huge data of the Canadian insurance coverage market permits them to share up-to-date data on developments, market outlook, compensation and perks pertaining to the insurance coverage business.
About Affect Recruitment
Affect Recruitment is a forward-thinking company, pushed by the need to create viable alternatives for professionals and information the expansion of organizations.
Our expertise, experience and depth of business data are unparalleled within the recruitment area, and we’ve constructed our enterprise by creating significant connections that develop into sustainable, long-term relationships based in belief and mutual success.
A devoted level of contact, an unsurpassed understanding of your subject and our Licensed Candidate® System, essentially the most complete employer-candidate matching system in the marketplace immediately, mix to make us the best companion as you navigate an ever-changing hiring panorama.
For media inquiries, please contact:
David Prepare dinner
Vice President of Advertising and marketing
Affect Recruitment | AmbiMi
dcook@impactrecruitment.ca