insurance market insights
DESCRIPTION
An overview of trends in the Insurance market for Q3 2013.TRANSCRIPT
Marks Sattin 2013-2014
Insurance Market Insights
About Marks Sattin
• Established in 1988
• Three areas of specialisation; Insurance, Accounting and Banking & Finance
• Leading global specialist financial recruitment company – offices in Europe, Asia, Oceania and South America
• Our APAC offices provide recruitment solutions throughout the region, leveraging of our global presence and candidate network
• We pride ourselves on delivering outstanding levels of service, combined with quality candidates. Our loyal and exclusive clientele can attest to it.
• Part of the FiveTen Group of global companies:
Market Trends
Surveyed Candidate Profile
Gender
Age
Just over 15K Australian Finance, Banking and Insurance professionals contacted to give us their views on the employment market.
Source: Marks Sattin candidate survey
Market Trends
Surveyed Candidate Profile
Age
Source: Marks Sattin candidate survey
Despite double the number of females in the finance industry in their early career, they are under-represented from age 30. A key challenge for employers is how to retain females as they progress in their career.
Market Trends
Surveyed Candidate Profile
Seniority
Source: Marks Sattin candidate survey
In spite of the heightened attention paid to women in finance, women continue to be significantly under-represented in the upper echelons.
Demand For Candidates (SEEK)
Source: SEEK.com.au
Demand for candidates has decreased across all sectors since 2011.
Market Trends
If you were considering a new external job, what do you perceive to be an acceptable increase in basic salary?
Remuneration Expectations
Source: Marks Sattin candidate survey
Salary expectations are less predictable than 2012, with 1/3 expecting 5-10% and 1/3 expecting 16-20%.
Market Trends
What was your bonus in 2012?
Candidate Remuneration
How satisfied were you with your most recent bonus?
Source: Marks Sattin candidate survey
Female bonus’ were significantly less than males’.
How would you rate your current job security?
Job Security Perceptions
Source: Marks Sattin candidate survey
Job security is mostly unchanged from 2012, with approximately ¼ feeling insecure.
Market Trends
Job Seeking Behaviour
Source: Marks Sattin candidate survey
9 out of 10 candidates are either passively or actively keeping an eye on the market; candidate retention will be a key challenge if the market improves.
Market Trends
Have you ever lost interest in a role because the recruitment process took too long?
Recruitment Process
Source: Marks Sattin candidate survey
The cost of being too slow; speed to fill is a strong competitive advantage.
Salary Survey Guide Skill Set Specific
Annual Market ReportsClient/Candidate Annual Surveys
Market Landscape PresentationsIndustry vertical specific
‘Leadership Perspectives’ ForumsThought leadership and networking events
Marks Sattin – Value Adds
Source: Marks Sattin candidate survey