Ten Reasons Insurance Staff Look For a New Role

Losing talented employees is the worst - it's as simple as that. And the insurance world certainly isn't immune to this costly headache.

Last year alone, a huge 13.8% of UK workers and 44.5 million US employees voluntarily said "bye" to their jobs – and that's without accounting for redundancies and terminations.

A little turnover is inevitable in any industry. Even huge companies like Google and Apple have to deal with it. But for every insurance agency or small team, hanging onto your A-players is absolutely critical.

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Monster.co.uk estimates the average annual turnover rate sits at a concerning 15% across industries. This continuous employee turnover forces companies to dedicate significant time and resources towards recruitment, onboarding, training, and other potentially avoidable expenses.

From our experience talking to insurance professionals who've made a career move, some common reasons keep popping up. Spotting the signs someone is about to resign is one thing, but understanding the reasons behind it can help employers be proactive in addressing issues before they become resignations.

Need to retain your insurance staff?
Here are 10 issues that'll make them leave:

Lack of Career Growth

One of the most common drivers is a perceived lack of career growth opportunities. Insurance professionals are highly ambitious and constantly seeking new challenges and responsibilities. If they feel stunted or that there is no clear path to advancement, they will inevitably begin looking elsewhere.

Inadequate Compensation & Benefits

Salary is always going to be a major factor. Insurance roles require specialised skills that should be compensated accordingly. Failing to offer competitive pay and benefits will make it extremely difficult to retain top performers.

Toxic Workplace

A toxic workplace culture - unhealthy competitiveness, unethical behaviour, harassment, lack of work-life balance, etc. - is a fast track to high turnover. Insurance staff want a positive, respectful environment that values collaboration.

Limited Development & Training

Developing new skills is a must for ambitious insurance professionals. A lack of training resources or professional development opportunities will leave employees feeling stagnant. Providing clear paths for learning demonstrates investment in their careers.​

Poor Management

Incompetent leadership, micromanagement, lack of communication - employees don't leave companies, they leave managers. Strong managers who lead by example and advocate for their teams are critical.

Lack of Appreciation

Everyone wants to feel valued for their contributions. Simple recognition - praise, rewards, bonuses - goes a long way. Failing to appreciate hard work will inevitably cost you your best talent. ​

Disconnection from Company Values

Employees want to feel alignment with their company's mission and values. If insurance staff cannot connect with the organisation's core principles or feel they clash with personal values, it's difficult to be engaged long-term. ​

Limited Job Security

Economic uncertainty and lack of transparent leadership breed anxiety around job security - an issue pronounced in competitive insurance roles. No one wants to feel their job is constantly on the chopping block.

Burnout

The demands of insurance roles, coupled with increasing pressures and lack of work-life balance often lead to burnout. High stress, unrealistic workloads, and lack of support - these are the biggest culprits driving exhaustion and turnover. ​

Poor Work-Life Balance

Lack of work-life balance affects all professionals, but it is important in client-facing industries like insurance. Employees want to succeed, but not at the sacrifice of their personal lives and well-being. Promoting flexibility and reasonable time off makes a difference.