The world was stuck in recession when Sheffield Haworth was established in 1993. Unemployment was at record levels and expected to get worse. (It did.) The Internet had yet to arrive as the widespread social phenomenon that it would quickly become.

Thirty years later we may be entering another period of global recession—with two big differences from 1993. The first is that talent shortages are widespread in developed economies. The second is the power that digital tools give us to extract a richer kind of understanding about talent—what it is, where it is, how to engage it and how to hold it.

If it is true that organizations are only as good as the people in them then the way through this uncertain moment is talent intelligence, the emerging science of tracking where the best are going, what motivates them and how they fit into an organization’s strategic plan.

In the next several years the booming demand for ‘fractional executives’ is going to accelerate around the world. Sheffield Haworth is positioned to lead the way for clients. 

Oli Templeton explains why…

ESG (Environment, Social and Governance) is one of the biggest priorities in the corporate world today. Certainly, as a talent and recruitment consultancy, Sheffield Haworth has seen a huge increase in ESG-related roles – and the demand for talent with ESG experience or qualifications.

ESG is so all-encompassing as a term that we could almost see it as unhelpful – especially when it comes to defining job roles and the corresponding skills required for them. After all, is a Head of ESG primarily responsible for increasing diversity and inclusion in the workforce? Or do they oversee reporting on the environmental impact of the supply chain? Or are they driving through a series of processes that will make their organisation a net zero carbon dioxide emitter by 2030?

We interviewed five ESG specialists from across the insurance market to get a deeper understanding of the ESG trends and opportunities and what this might mean for the future of the ESG talent market in insurance.

Part 1 of a two-part Sheffield Haworth special report on ESG

ESG (Environmental, Social, and Governance) has become a significant priority for the insurance industry in recent years. Despite this fact – and the fact that ESG is not a new phenomenon – many within the industry seem to be struggling to get to grips with it. Many firms are largely focused on the challenges and implicit negatives of ESG rather than the potential opportunities for competitive advantage, brand reputation, and increased customer loyalty.

That’s why my team and I set out to better understand the industry’s attitudes towards ESG. We began with this survey of industry experts to get a range of expert opinion on ESG challenges. This is part one of a two-part study. Part two will be a deep dive with selected experts from InsurTechs, carriers, and brokers to look at the potential opportunities and emerging market opportunities within ESG.

This survey is very much geared towards regulatory challenges, both in terms of compliance and reporting. Some of the trends highlighted in this report are likely to have a major impact on hiring trends for ESG talent in the years to come. I hope you find this report both useful and thought-provoking.

A Sheffield Haworth Publication featuring people news, industry updates, market trends and analysis

Quarter two has seen a continuation of the rise of private markets in Asia as alternative managers increasingly see the region as a key growth market and global investors appreciate the vast opportunities on offer. Across the year there has also been an increasing momentum within traditional firms to further expand or launch their private markets offering. The recent challenges fixed income has experienced and the poor performance of equities in many Asian markets has given further rise to private debt and other alternatives asset classes as both institutional and retail investors look to diversify their portfolios.

Some InsurTechs are finding it hard to attract the talent they need to grow, but there is one solution that can help.

Imagine that you are the founder of an InsurTech firm that has raised over $100m in your latest funding round. You’ve been around for a few years, and now this funding has put you on the map. You can supercharge your growth and hire the specific talent you need to lay the foundations for the future.

Then you notice a curious thing. Your employees are leaving in ever higher numbers. When it comes to attracting talent from insurance incumbents, it is more difficult than you thought. You try to recruit more diverse talent, but all your first choices end up accepting roles elsewhere.

Now imagine you’re the founder of another InsurTech that has also raised over $100m. Your employees are happy and share in celebrating your success. Attracting talent from insurance incumbents and more diverse talent from other industries is easy because people want to work for you. Your staff retention rate is high.

These two contrasting scenarios are real. We cannot name the companies, for obvious reasons. But they are based on real companies in the UK insurance industry that Sheffield Haworth knows well. One, because our Insurance practice is busy sourcing talent to work for them. The other, because our Insurance practice is busy placing talent from that firm to work in other companies.

What makes the difference between these two firms? Why is one so attractive to top talent, while the other keeps losing employees?

Are we any closer to widespread claims automation across the insurance industry, or are the barriers insurmountable? Experts from the InsurTech and incumbent worlds weigh in with their opinions.

We are delighted to publish the latest insight magazine featuring interviews with leaders across the technology sector. In this issue, we explore a wide range of topics including; the challenges of being a CEO, traits of an effective leader, the importance of being future ready, how transforming a business culture is everything, what needs to be done to attract and retain more women in the deep tech sector, imposter syndrome and balancing career risk versus reward.

The technology sector has proven very robust against the backdrop of the pandemic, current global uncertainty due to the war in Ukraine and the global supply chain challenges. While in recent months there has been a decrease in venture funding, PE transactions and IPO activity, there is still a strong demand for leadership talent and at SH Gillamor Stephens, we approach everything we do with the perspective of helping organisations and individuals achieve their potential.

Read the full magazine by clicking the link below.

Last year Sheffield Haworth published its first annual Insurance Outlook which explored key trends in the insurance market and their impact on organisations’ talent needs. The Insurance Outlook 2022 aims to give you the insights you need to help you attract and retain the right senior level talent to drive your business strategy this year, as we continue to see the power shift from organisations to people and the competition to attract new talent grows fiercer.

Over the last two years, disruption and change have dominated our industry. This year we analysed the data around 4.6 million insurance professionals globally to identify how the industry is responding and what we can expect to see over the next 12 months.