Talent Crunch Getting Tighter, Broker Survey Shows

Written by
David Gambrill

Apr 5, 2022

Apr 5, 2022 • by David Gambrill

Photo credit: Vitalii Vodolazskyi/Adobe Stock

Finding qualified talent is the biggest challenge facing almost seven out 10 Canadian brokerages right now.

And the talent crunch is getting even tighter. Sixty-nine per cent of brokers report finding qualified workers their biggest challenge – a 7% increase over when the pandemic began two years ago, according to Canadian Underwriter’s 2022 national survey of more than 250 brokers.

“Finding qualified workers is a real challenge,” one experienced broker in a large brokerage commented. “Training and promoting from within works well, but replacing the position at the lower level isn’t always so easy either. This is an industry reputation issue, and we can do more to fix that as an industry. But the real problem is the demographic disruption every industry is facing.

“Treat your people well. Opportunities for them in our business are like a city bus, another one comes by every 20 minutes.”

Of the brokerage principals identified in the survey, 63% of men and 85% of women identified recruitment as the biggest challenge facing their brokerages right now.

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