Insurers losing experienced workers

According to the Chief Economist at Desjardins Insurance Group, there is a growing exodus of Canadian highly skilled workers that is leaving businesses scrambling for replacements, as there are not enough trained younger workers to take over.  The Great Retirement is gaining speed with experienced workers leaving to retire early, resulting in a significant loss of human capital and knowledge.  

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​The pandemic has worsened this trend with workers deciding to retire earlier to make up for lost time during Covid by choosing to travel and spend more time with family.  Currently 20% of the Canadian work force is over the age of 55 and that percentage will increase in coming years due to limited birth rates and low immigration levels.

Many of the G7 countries are experiencing the same but to a greater degree than Canada.  As a result, most countries are looking to retain their older experienced workers longer but with non-traditional approaches such as hiring part time experienced workers to assist in bringing along the younger workers.  Canadian Insurance Mutual Professionals works with known experienced insurance talent that work on a project or part-time basis, to fill the gaps needed for experienced personnel. 
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In an effort to increase the amount of talent available, CIMP has recently begun a working relationship with WAHVE Canada (Work at Home Vintage Experts) to access additional experienced insurance talent for projects or short-term replacements.  WAHVE’s value proposition is the ability to source seasoned candidates (over 55 years old) that are screened for digital skills and insurance experience.  Check out WAHVE Canada at https://wahve.com.

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