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Recruiting Financial Professionals During a Recession

Kathryn N. Reid, LLIF; Peggy McManus, Ph.D. 6/22/2021

Explore the impact an economic recession can have on the state of recruiting in the financial services industry by comparing the 2020 COVID-19 pandemic to The Great Recession of 2007.

Summary

Recent history of recruiting numbers for a group of agency-building companies shows a modest positive relationship between unemployment rate and the number of recruits — as the unemployment rate rises and talent becomes more readily available, companies are able to attract and recruit more financial professionals. This will report will examine this relationship by looking at two major events: The Great Recession and the COVID-19 pandemic.

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Meet the Project Director

Kathryn N. Reid, LLIF

As head of LIMRA and LOMA’s Talent Solutions, Kathy Reid leads a professional team of training and development experts to deliver global solutions to help member companies recruit, select, assess and onboard new talent. She is also responsible for advising domestic and international project teams, developing selection products, and consulting members on recruiting and selection process.

Reid joined LIMRA and LOMA​ in 1989 as a research analyst, rising through the ranks to assume her current role in 2008. An experienced facilitator, she works with companies to evaluate selection process effectiveness and to develop new approaches in recruiting and selection. Reid also has trained thousands of field leaders on how to best recruit, select, and retain top talent — as well as numerous field agents on how to hire sub-producers and office staff, and how to develop their own sales skills.

She earned a Bachelor of Science in economics from the University of Connecticut and a Master of Science in organizational behavior from the University of Hartford.

Vice President, Client Success
LIMRA and LOMA
KReid@limra.com


For more information, please contact KReid@limra.com.

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