Insurance Industry Aging Workforce
Workers will be 55 or older according to the u s.
Insurance industry aging workforce. Finance insurance and real estate industry toolkit 2 finance insurance and real estate industry overview the u s. An aging insurance industry embraces flex workers theres a crisis unfolding within the insurance industry and it will touch nearly every carrier and agency large or small. Have an aging workforce and are facing. Workforces are aging quickly and the insurance industry in particular is especially affected by this.
With nearly 400 000 employees expected to retire from the insurance industry workforce within the next few years according to the u s. While their exemplary experience and contributions to all industries. According to the u s. By 2024 one in four u s.
The impact of the aging insurance workforce. In fact the aging workforce is an industry agnostic problem that many companies are facing as the boomer generation looks toward retirement. Few regions should be as concerned as atlantic canada and saskatchewan when it comes to the aging profile of the industry s workforce the insurance institute of canada noted in its recently. Yet although many companies are making it a primary.
Aging insurance industry seeks to replenish its ranks with young recruits. In fact their numbers in the workforce are expected to increase 2 annually. Bureau of labor statistics bls classifies. Noting that roughly one quarter of the insurance industry workforce will be older than 55 in 2018.
Here are five factors small and mid sized insurance companies should pay attention to concerning america s aging workforce. Older generations are not going anywhere soon. Department of labor more than double the rate in 1994 when 55 plus workers accounted for just 12 percent of the workforce. Preparing for an aging workforce.
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