HRM

Recruitment in Insurance Industry

Recruitment in Insurance Industry

Introduction

Recruitment is the set of actions implemented to find a candidate to meet the needs of an organization in a given position. The essential steps are the identification of a vacancy and the determination of criteria that the applicant should address the selection of the method of recruitment, assembly of a set of candidates and finally the selection of appropriate candidates. Recruitment process identifies interested qualified candidates to fill vacancies (Steel, 2006, 16). The recruitment process begins and ends the search when receiving applications for employment. This produces a pool of applicants, which will then new employees. The process of selection is considered regardless of recruitment. Job descriptions are essential tools provide the information base on the functions and responsibilities including each vacancy. In this paper, we are going to discuss recruitment in the insurance industry, but that we will give an introduction about the insurance industry.

Insurance Industry

The insurance industry is an active area, diverse and rapidly expanding in the global economic landscape. The insurance sector is also a rather unique perspective on the operating mode of its business, as companies and insurance companies have specific management practices appropriate to the nature of their activity, which is, remember, able to anticipate the risk to be able to provide (Elwood, 2006, 7).

Recruitment in Insurance Industry

With growing business industry, demand for newer and talented staff is also increasing among the companies with each passing day especially in insurance companies. Every firm follows its respective rules and procedures while recruiting newer staff, but one aspect that remains common among all companies are the current trends that the companies today are following for recruitment procedures. December 31, 2010, insurance companies employed 145,150 people. With a volume recruitment record of over 14 000 people (almost 10% of the workforce), Insurance confirms its attractiveness, even in times of crisis. A study conducted, research and knowledge arm of TimeJobs.com revealed nearly 60% of organisations believe that errors made during the initial recruitment planning and process stage leads to high attrition. Almost half of the organisations surveyed said that the limited pool of talent available to choose from is one of the key barriers to effective recruitment (Dipboye, 2002, 22). This is the start of the year, and it is a good time to put cap and reflect our thinking on the job demands and recruitment in the insurance industry.

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