Workers' Compensation Adjusters and Former Adjusters: Our Industry Needs Your Feedback!
Written by: Nikki Jackson, CPCU, ARM, CDMS
The workers' compensation industry faces a talent shortage, and companies are struggling to attract and retain claims professionals. Much of the seasoned talent is becoming limited as the population ages and the trend in working-age declines (Osterland, 2021). The Great Resignation, which began in 2021, has also disrupted the talent pool, with a staggering 2.9% of the US population quitting their jobs (Reexamining Retention Strategies, 2021).
The talent shortage in the workers’ compensation industry impacts many stakeholders along the claims journey, including the administrator, employer, injured or ill employees and their families, providers, and a host of other vendors and representatives (Barnes-Cook, 2021). Insufficient staffing often leads to high caseloads, which results in poor outcomes caused by delays in compensability decisions, medical treatments, and payments (Ceniceros, 2010). The delays throughout the life of a workers’ compensation claim may increase the days an injured or ill employee is out of work, stall recovery, and welcome unnecessary litigation. Ultimately, this impacts the total amount spent per claim and can derail an employer’s workers’ compensation program. Workers' compensation carriers and third-party administrators can maintain manageable caseloads by attracting and retaining new talent. In a recent survey, employee retention, recruitment, and development were cited as the number one priority for stakeholders in 2022 (Demberger, 2022).
If you are a current or former adjuster, you can help our industry by...
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