Survey results: working from home insights from actuarial professionals

The way we work has changed dramatically over the past few years, and actuarial professionals are no exception. While remote and hybrid working were once seen as perks, they are now fundamental to how businesses operate and how candidates choose their next role, with many seeing it as an essential element of modern workplace culture.

For employers, understanding what actuarial professionals expect from their working arrangements is vital. The right balance between office and home working can mean the difference between attracting top talent or losing out to more flexible competitors.

To shed light on these expectations, we surveyed 700 actuarial professionals about their ideal working patterns; speaking to attendees at the Institute and Faculty of Actuaries (IFoA) GIRO and Life Conferences. We then expanded our reach further, by sharing LinkedIn polls from our experienced actuarial recruiters. The results not only highlight what candidates want but also provide a roadmap for employers to refine their recruitment strategies and workplace policies.

What actuarial professionals want in a new role

One of the most recurring themes among actuarial professionals is the desire for greater flexibility. While some still appreciate the structure of a fully office-based role, the overwhelming majority are drawn to hybrid or remote working arrangements.

When asked about their ideal working week:

• 20% of respondents preferred not to work in the office at all.
• 28% wanted to be in the office two days a week, making it the most popular choice.
• 26% opted for one office day per week, closely following.
• Only 5% preferred the traditional five days a week in the office setup.

We have further broken the statistics down to highlight the key findings from the IFoA GIRO Conference and the IFoA Life Conference separately. You can download the full report now.

These findings reflect broader trends in workplace expectations, mainly that candidates increasingly prioritise roles that offer:

• Work-life balance: Flexibility helps them manage personal and professional commitments.
• Productivity: Remote working allows many individuals to perform better without office distractions.
• Inclusivity and accessibility: Hybrid models often accommodate diverse needs, making workplaces more accessible.

What this means for employers

For employers in the actuarial and insurance sectors, these preferences signal the importance of redefining workplace strategies to align with candidates’ expectations. Offering hybrid or remote options can significantly enhance your ability to attract top talent while retaining existing employees.

Balancing office and home working arrangements is not just about meeting candidates' needs – it’s also about ensuring the business thrives in this evolving landscape. By fostering flexibility, organisations can improve productivity, employee satisfaction, and diversity within their workforce.

Get the full report

To explore these insights further and see how they break down across the general insurance and life insurance sectors, download our comprehensive report. It offers a detailed comparison of current and ideal working patterns and actionable advice for creating workplace strategies that resonate with today’s actuarial professionals.

In 2023, we carried out a more in-depth survey looking at just what candidates want when it comes to a new role, as well as asking how satisfied they are with the support they receive from their employers.

Our survey group included more than 100 different job titles, covering around 35 job families within the actuarial profession, highlighting that different employers often use distinct job titles for the same type of role.

Take a look at some of the key findings:

• 51% said they feel more productive working from home than in the office.
• 75% said that switching to hybrid or home working has positively impacted their work-life balance. But...
• 63% say they typically work more hours at home than in the office.
• Also significant, 65% agreed that hybrid working has had either a slight or significant negative impact on new starters.

We also spoke to those surveyed about their employer’s response to the cost of living crisis, with 62% saying their employer has responded to the cost of living crisis and rising inflation rate.

• 72% said this came in the form of a percentage pay increase.
• 38% received a one-off payment.
• 13% were provided with non-financial advice or guidance.

To see the full report from the 2023 survey, you can download it now.

Contact and further information

If you wish to utilise any part of this data for editorial purposes, please credit Sellick Partnership at www.sellickpartnership.co.uk/.

To find out more about our insights into how actuarial employers can improve their recruitment offering and get access to the very best candidates, please take a look at our actuarial recruitment hub, or contact us on 0161 834 1642.