In today’s job market, finding top actuarial talent is hard—but keeping them? That’s the real challenge.
We’ve all seen it: a talented hire joins the team, full of potential. But six months in, they’re disengaged—or worse, gone. Turnover isn’t just an HR metric. It hits morale, slows down projects, and costs way more than we like to admit.
But here’s the good news: a smarter hiring process can stop this from happening. Not by screening harder, but by hiring better.
What’s Really Behind Turnover?
Sure, salary matters. But most actuaries don’t leave just for a bump in pay. From what we’ve seen and heard from hundreds of candidates, it usually comes down to mismatched expectations or missing growth.
Some common reasons actuaries move on:
- The job isn’t what was promised. Maybe the role sounded strategic but turned out to be all reporting.
- No room to grow. Smart people want new challenges, and not just the same project every day.
- They don’t click with the team. Cultural fit still matters, even in technical roles.
- Leadership changes. A new boss can shift everything, and not always for the better.
- Burnout. Actuaries often work under pressure, and if there’s no support, it adds up fast.
What Does Better Hiring Actually Look Like?
It’s not just about hiring “the smartest person in the room.” It’s about hiring the right person for your team—and setting them up to succeed.
Here’s how to do that:
1. Be honest about the job.
Let’s skip the buzzwords. Actuarial candidates need to know what the day-to-day really looks like. Are they building models from scratch? Supporting senior actuaries? Juggling multiple stakeholders?
The more transparent you are up front, the less likely you’ll lose someone to “I didn’t realize this was the job.”
2. Go beyond the resume.
Tech skills are important, but long-term success for actuaries comes down to curiosity, adaptability, and communication. Ask about how they’ve handled unexpected challenges, not just which exams they’ve passed.
3. Give them a taste of the real work.
Consider a mini-case study or project during the interview process. You’ll see how they think—and they’ll see if they actually enjoy doing this kind of actuarial work.
4. Don’t underestimate culture fit.
It’s not just about whether they’re “nice” or “smart.” Think about how they communicate, how they solve problems, and how they handle ambiguity. Will they thrive on your team?
5. Make onboarding matter.
First impressions stick. When new hires feel supported from day one—with mentorship, resources, and a clear path forward—they’re much more likely to stay.
We’ve Seen This Work!
At DW Simpson, we’ve helped thousands of actuaries find roles where they don’t just land, they grow. And we’ve seen the difference thoughtful hiring makes in retention and team health.
Tools like our Actuarial Salary Survey Actuarial Salary Surveys – DW Simpsonhelp employers stay competitive. But just as important is asking: Are we hiring people who actually want what we’re offering?
Final Thought
You can’t control everything in retention. But you can control how you hire, and when you get that part right, it makes all the difference, not just in who you bring in, but in who stays and thrives.
Need a hand refining your hiring strategy? Or just curious what the market looks like these days? We’re always happy to chat, Actuarial Recruiting Firm – DW Simpson
Whether you’re hiring or exploring actuarial careers, DW Simpson is here to help. Browse actuarial jobs, explore compensation insights in the DW Simpson Salary Survey Actuarial Salary Surveys – DW Simpson, or connect with an expert actuarial recruiter today at DW Simpson Actuarial Recruiting Firm – DW Simpson.