41% of the global workforce is considering leaving their employer this year according to a Microsoft study

01 June 2022

2 minute read 

Our Environment, Social, Governance and Development Lead, Emma McAvinchey-Roberts, recently spoke to Modern Insurance Magazine about the future of wellbeing and recruitment within insurance...

"The pandemic has undoubtedly caused the biggest shift in working norms in most of our career lifetimes. It is really quite unsurprising that, after the turmoil many people have experienced, this has led them to question their working patterns and re-evaluate how they work, where they work and who they want to work for. This coupled with an increase in inflation and a significant increase in living costs means people want to work in businesses that can most fulfil them and meet their needs personally and professionally.

However, that does not mean all businesses will necessarily experience this turnover, the key is recognising what they provide to employees in the way of career development and progression, as well as the more traditional attraction tools of remuneration and benefits. Employers should be seeking to innovate all the time, with client solutions as well as employee ones. At Carpenters Group we pride ourselves on continuous improvement, listening to feedback and making changes to adapt and grow.

As ever, businesses need to ensure they have a clear strategy which is understood by their people so they feel part of the organisation and know how their role can fit in with the overall aims of the business. There are so many new opportunities particularly provided by the pace of change within technology in the insurance industry, roles that did not exist 12 – 18 months ago are now critical to continued success. Businesses must ensure they have knowledge leaders in place to support this pace of change and create new and innovative opportunities to attract employees and retain their existing ones.

At Carpenters Group we have re-evaluated our career pathways to ensure all employees have the opportunity to develop and be supported within their progression, which may include diversifying into different areas of the business. We have many apprentices going through a variety of different programmes including legal, customer service, IT and HR. This trend around apprenticeships and continual management development will continue as we focus on social mobility and ensuring we create opportunities to attract a diverse range of talent to our business providing people with stimulating career options to diversify should they wish.

In essence, there will only be a skills shortage in Insurance if we allow ourselves to get into that situation by lack of innovation and proactivity in responding to the changing demands of our clients and employees."

Emma McAvinchey-Roberts
Environment, Social, Governance and Development Lead
Carpenters Group

Credit: Modern Insurance Magazine