Recruitment rethink needed

by Gill Montia

Story link: Recruitment rethink needed

Search Consultancy, the UK’s fastest growing recruitment consultancy, is advising the insurance and financial service sectors that they need to rethink their recruitment strategies, if they are to secure the best candidates.

Many companies in the insurance industry view the Advanced Financial Planning Certificate (AFPC) qualification as an essential requirement for a paraplanner.

However, paraplanners (who undertake technical research), are currently in short supply and Search is urging insurers to consider the wealth of suitable candidates who may not have the traditional qualification.

The consultancy wants employers to look objectively at the skills that applicants possess, such as good experience of report writing, processing new business or general technical knowledge.

The shortage of AFPC qualified personnel has led to higher rewards for paraplanners, with reports of candidates being able to name their own salaries, within reason.

Meanwhile, the ifs School of Finance has reported that the average age of those gaining an entry level qualification in the insurance industry has fallen year on year since 2003, when the Certificate in Regulated General Insurance was launched.

In 2003, the average age of those taking the qualification was 40 and today it is 34, indicating that younger people are being attracted to a career in insurance.