2023 Salary & Benefits Guide for General Insurance
Key Findings - 2023 Guide
This guide is intended to provide insight and guidance to employees and employers alike with regards to trends in the market, skills in demand, employee mobility and satisfaction across the workforce.
Our research explores a multitude of areas from macroeconomic factors through to the most sought after soft skills. Reviewing the past year, with its various challenges, this guide also provides insight into predictions and industry outlooks for 2023 and beyond.
Skills in Demand
Only 20% of employees feel a strong employer brand is important when looking for a new role, compared with nearly 30% of employers who feel that their brand is the most important element in attracting staff. This can give insight into why some ‘big name’ employers are struggling to attract talent as well as retain the talent they already have. Rather than brand being a reflection of prowess and success, organisations need to recognise that ‘Employer Brand’ could be perceived more as ethos and culture, and reassess how they project it to potential employees.
Many predict that 2023 will be the year of authenticity. Increasingly, employees are prioritising work/life balance, the location of a role and its benefits package over how challenging a role is or the employer’s brand. In fact, within our General Insurance data, employer brand was ranked as the least important factor when it comes to considering a new job.
Additionally, diversity and inclusion is becoming increasingly important when job hunting, with nearly two thirds of employees and 75% of employers stating that the diversity of an organisation attracts staff. However, nearly a quarter of employers said there was no opportunity for employees to support or contribute to the Diversity, Equity & Inclusion (DE&I) committees or steering groups within their organisation, and 57% said that they weren’t personally involved in diversity and inclusion activities. This could be perceived as employers simply paying lip service to initiatives in order to tick boxes, without really investing in positive change.