The Finance, Insurance and Real Estate Services Sector provides individual and commercial insurance, mortgage, real estate and investment services to individuals, households, and businesses. Examples include insurance companies, real estate firms, stockbrokers, investment dealers, mortgage brokers and security and commodity exchanges
Employer One is a workforce development survey of businesses in Prescott-Russell. Results were from 64 employers in the Finance, Insurance and Real Estate Services Sector in PR as of May 20, 2015.
64 employers in the Finance, Insurance and Real Estate Services Sector responded to the Employer One Survey
Over 20% indicate they will be hiring the coming year.
Employers rely on word of mouth, the company’s website and employment centres to recruit new employees.
They indicate little problem in finding suitable job candidates.
Finance, Insurance and Real Estate Services employers value written and verbal communication customer service, customer service, and the ability to work independently most highly.
Technical Skills are of importance to these employers.
- Of the 54 businesses who responded, 11 (20%) plan to hire in the next year.
Labour Force Supply
- While over 35% of 54 responding companies indicated they had hired in the past year, 6 (33.3%) of 18 responding companies indicated positions that were difficult to fill. Over 76% of employers indicated that the availability of workers locally was either good or excellent. This would indicate good labour market supply.
Hiring in the past year
|Occupational Groups where hiring took place in the past year||Hiring planned in the coming year|
|Occupational Group||Full Time||Part Time|
|Business, Finance and Administration||15||1||9||10||15|
|Sales and Service||2||0||0||0||14|
|Natural and Applied Sciences and Related Occupations||0||0||0||0||0|
|Education, Law or Social, Community & Government Service||0||0||0||0||0|
|Arts, Culture or Recreation||0||0||0||0||0|
|Trades, Transport and Equipment Operators and Related Occupations||0||0||0||0||0|
|Natural Resources, Agriculture and Related Production Occupations||0||0||0||0||0|
|Manufacturing or utilities||0||0||0||0||0|
|Occupations in demand between October 2013 and May 2015 in PR (# of positions)|
|Administration Assistant||3||Financial Advisor||2|
|Customer Service Representative||3||Insurance Broker||1|
|How do you rank the availability of workers locally?||47||responses|
- Over 52% of employers rely on word of mouth, the company’s website and employment centres fill openings.
|What recruitment methods are used to fill open positions?|
|Word of Mouth||8||22.2%||Other||3||8.3%|
|Company’s Website||6||16.7%||On-site Job Posters||2||5.6%|
|Employment Centres||5||13.9%||Recruitment Agency||2||5.6%|
|Unsolicited Resumes||4||11.1%||Recruitment at Schools||0||0.0%|
|Online Job Board||3||8.3%||Job Fairs||0||0.0%|
- 28 of 44 or over 63% of respondents supported the training of their workers.
|Technical Training Requirements (# of multiple responses)|
|Customer Service||13||Legal assistant||1|
|Personal Financial Services Advice (PFSA)||5||Mandatory CPD requirement||1|
|Policies & Procedures||5||Office Clerk||1|
|Insurance Broker||3||Personal Lending and Mortgage (PLM)||1|
|Administrative Assistant||2||Real Estate Law and Administration||1|
|Advertising||1||Sales & Service||1|
|Corporate Mandatory Training and Testing program (CMTT)||1||Tax Preparation||1|
|Evaluator||1||Certificate in personal banking examination (CPBE)||1|
|Essential Skill Requirements|
|Computer Skills||6||French Language||1|
Source and Barriers to Training Existing Workers
- More than 39% of employers rely on University training for workforce development.
|Source of Training||No.||%||Barriers to training||No.||%|
|University||39||39.0%||Awareness of training support||90||64.3%|
|College||19||19.0%||Productivity Loss During Training||7||5.0%|
|Vendor Specific||15||15.0%||Trained Employees Lost to Competitor||7||5.0%|
|Private Trainer||13||13.0%||Training not Available Locally||6||4.3%|
|Professional Association||2||2.0%||Awareness of Existing Programs||5||3.6%|
|On the Job||1||1.0%||Distance to Travel for Training||3||2.1%|
Top Competencies of Current and Future Workers
|Competency||Current Employees||Future Employees|
|Written and Verbal Communication||27||15.8%||24||13.2%|
|Self-motivated / Ability to work independently||21||12.3%||21||11.5%|
|Analytical Problem Solving||20||11.7%||21||11.5%|
|Dedication and Motivation (Work Ethic)||17||9.9%||17||9.3%|
|Teamwork / Interpersonal Skills||10||5.8%||12||6.6%|
|Willing to Learn||9||5.3%||17||9.3%|
|Creativity / Entrepreneurialism||4||2.3%||7||3.8%|