(upbeat music)
Together with The Network,
BCG surveyed about 3,000 employees
from the insurance industry
as part of our Decoding Global Talent series.
We uncovered four big themes.
First, preferences as to where and how people want to work
changed during the pandemic.
Second, relationships remain a vital part
of the workplace environment.
Third, new societal values gain in importance.
And finally, people from the insurance industry
are concerned about the future of their jobs
and are willing to learning new skills.
The shift to remote worked very well for most insurers.
Looking now into the future,
a full 94% of our respondents
want to continue working remotely
some or even all of the time.
In addition to that,
most of them would also prefer more flexibility
with respect to their working hours.
Employees from the insurance industry
are especially concerned about automation-
almost 50% fear to become redundant over the upcoming years.
The good news though is,
people are very willing to invest in up and reskilling.
71% of our respondents indicated their willingness
to invest in new skills.
This makes the insurance workforce one of the most willing
to invest in up and reskilling
in a cross-industry comparison.
Two things stand out that are quite unique.
First, relationships are absolutely key at the workplace.
This even increased compared to 2018.
Secondly, global issues increased in importance.
People care deeply
about their employer's environmental responsibility
and about diversity, equity, and inclusion.
50% of our respondents would even decline a job offer
if their employer did not match their own beliefs and values
in those topics.
COVID accelerated the digital
and the workforce transformations
many insurers had already started.
For the future, they now should define strategies
that help them retain valued employees
and attract new talent.
Develop a strategic perspective on your workforce
and on the skills required to fulfill the business strategy.
Invest in up and reskilling
to give employees the chance to develop those skills
needed in the future.
Take global issues seriously by developing real strategies,
ambitions, and KPIs associated with topics.
And finally, continue the transformation
to become a truly bionic company,
one that balances human capabilities and technology
and embraces new and agile ways of working.