Recruiting beyond the risk averse: Modernising graduates’ perception of insurance is a report based on a survey which explores the aspirations, goals, and motivation of business students looking at careers in insurance. In an environment of relentless Volatility, Uncertainty, Complexity and Ambiguity (VUCA), the report aims to uncover underplayed strengths and address weaknesses in order for insurers to better attract talent.
Globally, the findings show that insurance is not a popular career destination for business students and that the industry may not be attracting talent with the creative or innovative skills to safeguard its future success. In South Africa, insurance is more popular with business students than in most other countries surveyed. However, its popularity is falling and is much less popular than other business sectors.
To attract graduate talent, insurers should do better at exploiting their strengths, which they currently underplay. Understanding the mind-set of business students and their attitudes to insurance is a first step, and this report explores these issues.
The key findings of the survey include:
- Security is sought more than innovation or exciting products
- Insurance-inclined students want to develop and be experts
- Work-life balance declines in importance, but still the top career goal
- International opportunities provoke little interest amongst the job security-conscious insurance-inclined
- Seeking friendly colleagues, but not team-work
- Financial strength, prestige ranked ahead of ethics and social responsibility