2022 ImpACT Meeting - Session 8C: Help Wanted! Actuarial Staffing Models and their Benefits and Pitfalls Recording

The Great Resignation of the Post-COVID-19 era has affected nearly every major industry and profession over the past year. The actuarial profession, which has historically been a beacon of stability,is also impacted. Actuaries are leaving their positions at higher rates than ever before, demanding increased pay and benefits, more flexible hours, and the ability to work remotely. Ever-increasing demand for actuaries due to constantly evolving regulatory and business needs has widened the gap between the demand for and supply of actuarial work. What innovations are available for actuarial employers looking to bridge this gap?Get ready to listen to a panel of specialists on actuarial staffing models. The panel will discuss direct hiring, staff augmentation with consultants, independent contracting, and offshoring / outsourcing. The panel will explain how employers might pursue these options as well as the costs and benefits of each. Learn more about how current employees can benefit from various staffing models while avoiding common pitfalls; for example, how to engage and work effectively with offshore resources.
By attending the session, you will be able to:
- Understand actuarial staffing models, the costs and benefits of each, and how to begin their implementation.
- Understand some of the challenges in working within each staffing models, as well as strategies for ensuring efficient and smooth processes, even in cases where co-workers are sitting across the globe.
TRACK: Spearheading innovation through change