If you are in the business of hiring an Actuary, you most likely understand that Actuarial hiring is far different than hiring for other areas within the insurance industry because the skillset is so highly specialized. Attracting and retaining talent is now more challenging than ever.
The Actuarial community is small, and therefore it is important that your company has a reputation for being a great place to work. Companies sometimes have issues with morale, high turnover, and meeting competitive compensation and benefits expectations. These challenges are difficult to navigate. DW Simpson will be your Public Relations arm in the marketplace, thereby helping your company develop a reputation as being a great place to work for Actuaries. If you have had some morale issues or compensation challenges, we will have the ability to address the candidate’s concerns directly. If your company has a great reputation, great! We will spread the word.
The job market is tight, and even tighter in the Actuarial talent pool. Candidates often receive multiple offers and, more often than not, the future employer who does the best job at courting is the one who will attract the best candidate. This requires even more effort than what has been needed in the past. DW Simpson assists in the courting process, and can do most of the courting on your behalf. We will manage expectations, provide updates (and non-updates) to both you and the candidate, coordinate seamless and timely interviews, provide guidance to you on how to help the candidate have a positive interviewing experience, and negotiate a positive and successful hire for your company.
The Actuarial skillset is so highly specialized, it is often difficult to see where there might be a fit, and therefore good candidates can get passed over. Job portals are often ineffective and can become “black holes” where the candidate gets lost, feels unseen, or does not receive a response. While social media might attract a large number of candidates, they are not often the most qualified ones. And not everyone has time for social media – Actuaries often work 50+ hours per week and are studying for exams; and if they’ve finished exams, chances are they have a lot of responsibility and do not have the time to spend applying. For 33 years, DW Simpson has been solely dedicated to Actuarial recruiting and has the expertise and relationships to present you with the candidates who are the best fit for your position – both in their skillset, as well as their soft skills. Further, we have the ability to provide you with candidates that you would not have had the opportunity to interview. We are in touch with Actuaries who may not be actively looking to change jobs, but would be open to interviewing and ultimately moving for the right position.
There is a monetary value that can be assigned to an open Actuarial position and you want it be filled as swiftly as possible. When you break down the salaries of those charged with hiring into an hourly, billable rate, you will find your company is often losing money, and the Actuary is spending their time on recruiting rather than on their area of expertise. As an HR or TA, you have a lot of other recruiting, as well as all of your additional responsibilities. DW Simpson’s recruiters get positions filled quickly due to our relationships, state-of-the-art and extensive database, and the resources we have built through many years of serving the world of Actuarial recruiting. This is our area of expertise and what we do all day long, with the highest cumulative tenured recruiters in the industry. While search firms’ fees can seem expensive, after factoring in all the variables, this is a worthwhile expense.
By Patty Simpson
DW Simpson Actuarial and Analytics Recruitment is here to serve you and make your hiring process quick, seamless, and successful. Please feel free to contact me with any questions or additional information at patty.simpson@dwsimpson.com