Increased business volume across industry sectors is the biggest contributor to an expected swell of hiring where fifty percent of all companies plan to increase staff over the next 12 months, leaving industry employment growing at the fastest rate since the recession began.
The study’s participants included 112 companies, 62 of which are regional and 50 national or multinational. Of those, 87% were property & casualty, 11% were life & health and 2% were reinsurers. The average number of employees of all the participants was 2,755 but, as the study found, that is expected to grow.
The likelihood of companies increasing staff is up 4.5% since July 2011 making that the greatest percentage of companies anticipating an increase in staff since the study began in July 2009.
Revenue growth is expected among many of the companies surveyed; 69% plan to increase revenues in the next 12 months. In direct correlation with the revenue growth, 51% plan to increase staff for that sole reason.