Just two percent of recent college graduates want to work in the insurance industry. That’s a finding from a recent Accenture Strategy report, “Are you the Weakest Link? Strengthening Your Talent Supply Chain.”
By comparison, finance/banking, scored 10 percent, while 11 percent wanted to snag one of those anchor desks or other communications spots. A mere 4 percent sought a career in the energy sector.
Increasing the talent pool looks even bleaker for carriers and large brokers, since only 15 percent of those polled said they wanted to work for a large company.
Demand for talented insurance newcomers keeps increasing. The Bureau of Labor Statistics anticipates the insurance industry will add 200,000 new jobs within the next seven years, and the rapidly retiring baby boomers will make attracting new talent that much more important.
Accenture Strategy’s 2015 college graduate survey also found the new (2015) and recent (2013 and 2014) graduates to be practical in their pursuit of STEM – science, technology, engineering and math – degrees and in taking internships. However, only about half the 2013 and 2014 graduates have full-time jobs and almost half believe they are underemployed, so the reality hasn’t quite met up with their hard work and high expectations.
Insurers need STEM graduates for a broad variety of positions, but many graduates reject the industry without understanding its opportunities or the important role it plays in protecting so much.
To read the study and learn more about attracting recent college graduates, click here.