Investing in professional development may be one of the best retention strategies for insurance industry employers, according to results from CLM’s October 2025 Enterprise Research Benchmarking Survey, which found that 83% of professionals believe it should be a top priority for leaders who want to help early-career professionals advance. The survey, which was conducted to study the effects of professional development investment on employee retention, collected responses from 145 insurance and risk management employees across “all insurance roles, job levels, ages, and company types” and excluded professionals in non-insurance roles.
To Stay or Go?
Significantly, 39% of employees indicated that strong support for professional development encouraged them to remain with their employers. This ranks ahead of convenient commute or location (25%), regular recognition for contributions (29%), and trust in leadership (38%); and behind competitive compensation and benefits (65%), supportive manager relationships (61%), career advancement opportunities (56%), remote/hybrid options (49%), manageable workload (48%), engaging role (44%), strong alignment with company culture (44%), and organizational stability (43%), according to the report.
When it comes to why professionals choose to leave an employer, however: “Limited career path and low compensation were the main reasons…with each being selected by almost 50% of respondents,” the report states. “Twenty-five percent of respondents also mentioned that limited support for professional development was a key factor in deciding to leave,” which signifies the importance of professional development in decisions roughly on the same level as factors like limited recognition (16%), distrust in leadership (30%), and poor manager relationships (33%). Although it is not the primary factor in the decision to leave a company, it holds weight for many respondents.
When asked directly whether lack of professional development support influenced respondents to leave an employer, “58% of respondents said that [it] negatively impacted their experience with an employer. [Thirty-five percent] of respondents went further, saying that they have left or considered leaving a job due to a lack of professional development support.”
An employer’s commitment to professional development has a significant impact on employee retention, the survey found, with 88% of respondents indicating that it would have at least a moderately influential impact and only 12% indicating it would be only somewhat or not at all influential.
Types of Professional Development Support
The top three most common types of professional development support provided by employers were financial support (75%); access to external resources (58%); and access to internal training programs (57%), according to the report. The least common type of support was paid study time at work (21%).
“When comparing what support was received by those satisfied (Q8=very or extremely satisfied) and those dissatisfied (Q8=not at all or somewhat satisfied) with that support, those who were dissatisfied received comparatively less support overall; those who were dissatisfied primarily received professional development through internal training; and those who were satisfied were almost three times more likely to have access to external resources, like The Institutes (TI),” the report explains.
“Designations and certifications were the most valued professional development formats, followed by conferences and webinars,” respondents indicated. “Less structured formats, such as coaching or participation in membership organizations were less valued, but still important to around 30% of respondents.”
Drivers of Professional Development Decisions
When asked what factors business decision makers consider when making professional development decisions, 78% of respondents indicated that employee interest in professional growth is the deciding factor, followed by current performance (71%), and specialized skills or expertise needed for the role (69%). “Professional development is intended to advance higher performing employees who are interested in continuing their professional growth, rather than improve shortcomings of lower performing employees,” states the report.
When deciding whether to send an employee to a professional development event opportunity, role relevance was the top driver at 65%, followed by leadership potential (63%), and prior performance/merit (52%). “This further indicates that professional development is used primarily to further strengthen a team’s highest performers.” The least likely drivers were DEI/representation goals (4%).
A large portion (42%) of business decision makers surveyed were unsure of the budget for professional development per employee. Of those who knew, there was a wide range of responses, from less than $250 (7%) to $5,000 or more (11%). The majority, however, spend over $1,000 per employee.
Senior vs. Early-Career Perspectives
There is a perceived disconnect between leaders and early career professionals, according to the report. “[Forty percent] of respondents agreed with the idea that there was a disconnect between what leaders want for young professionals and what young professionals want for themselves when it comes to professional development,” the report states. The trend held true when comparing responses between leaders and young professionals; however, “there was little variation in responses from the two sample groups to the following questions, indicating that, at a high level at least, leaders and young professionals are aligned, regardless of what perceptions are.”
The vast majority of respondents (75%) indicated that early-career professionals should prioritize designations and certifications to advance in insurance, followed by attending industry events (46%); risk/claims litigation fundamentals (45%); and cross-functional rotations (42%).” Significantly less emphasis was placed on developing leadership skills, speaking at events, or publishing articles.
When asked about what role leadership should play in developing early career professionals, 83% of respondents indicated that leaders should prioritize funding for professional development, such as courses, designations, and events, highlighting the value of education among those surveyed. Leadership training, public speaking, and publishing were again prioritized last.
Likelihood to Pursue Professional Development
Sixty-three percent of respondents who were in claims, litigation management, or staff counsel were asked about their professional development in the next 12 months; however, the results varied by sample group, with 91% of respondents from TI planning to pursue professional development, while only 42% from CLM plan to do the same. “Of those who are planning to complete professional development in the next 12 months, 47% were either likely or very likely to consider using CLM.” As the insurance industry continues navigating changing workforce expectations and a talent crisis, investment in professional development can be used as a solid retention strategy.