Business for Sale
By: Mike McDonough
Mergers and acquisitions are changing the face of insurance and underwriting talent.
Buying has become a part of business. While most companies in the past built empires through slow growth, consumer support and aggressive business practices, today’s environment calls for mergers and acquisitions to move up in the corporate landscape. But it’s not just the capital and products that’s being sought after in these mergers. Talent is quickly becoming a precious commodity in certain industries, and when a company fails to find those skills on the open market, an acquisition can help bolster a dry talent pool.
If you can’t find em’, buy em
Experienced, well-trained older employees are hard to find. Most have been with a company for many years and no amount of money could convince them to leave the security and comfort of their current position to find a new one. So when a company sees its workforce aging out, it can be hard to find someone with 10+ years of experience to fill the gaps. By acquiring a company with an experienced workforce in place, they can bring in new revenue opportunities while replenishing their veteran staff.
The trick is training
In skilled positions like underwriting, a failure to train employees has led to an increased need to find high-level workers elsewhere. Instead of identifying talented individuals and cultivating their people to in-demand positions, companies are routinely counting on hiring and acquisitions to feed their talent pipeline. The real problem is that NO ONE is doing the necessary training, so those high-level employees simply don’t exist. And the ones that are out there have more opportunities than ever since they are in such high demand.
Asking for more, finding less
During this mergers and acquisitions storm, companies aren’t only looking for experience; they also need underwriters who are faster, more detailed and need minimal training to get started. But as demands continue to rise, availability remains low. Even if a company mergers to get the people they need, those employees may not have the skills to thrive in a fast-paced environment. Often it can feel like a business is looking for talent that doesn’t exist. After a merger, a company might realize that the corporation they bought was looking for the same employees due to impending retirements or a growing need.
That’s where we come in.
General Search and Recruitment specializes in finding the right candidates for our clients. That means pouring through resumes to find the perfect combination of talent, experience and personality. Whether you’re looking at a merger or acquisition, or just need an underwriter to round out your team, we can give you access to a more complete pool of candidates to fill your position in this competitive landscape.
Often a merger is a great way to grow your bottom line, but can still leave you with a talent pool that’s lacking. Let us help you supplement that talent and help your company continue to grow.
Contact us today and let us help you find the perfect person to join your company.