Insurer Prudential Singapore will hire up to 500 financial consultants next year, including around 200 mid-career individuals selected for a new talent management programme.
The recruiting drive comes amid growing awareness of the importance of insurance, the firm said yesterday.
Chief agency officer John Soong noted: "As one of the largest insurers in Singapore, we want to offer support to both mid-career job seekers and young people who face limited employment opportunities in this tough climate.
"We are also expanding our agency force to meet rising demand for medical and protection solutions, as the pandemic has brought into sharp relief the importance of insurance."
The company is investing $1 million in the talent management programme, which starts in January, to groom mid-career job seekers in financial advisory. The two-year training programme will include a year-long competency and skills course that will cover areas such as technical training, product knowledge, leadership development, effective communications and social media content creation.
Participants will get a monthly allowance of up to $10,000 pegged to relevant work experience for the two years.
Mr Soong said: "For mid-career individuals, this is an opportunity for them to reinvent their careers.
"Our programme has been designed to help eligible candidates fast-track their insurance careers by equipping them with critical technical and practical knowledge as well as the necessary soft skills. They will also benefit from mentoring by a team of agency leaders."
Fresh graduates who join the firm as financial consultants will also undergo an in-house training programme covering topics such as financial planning, plan construction, financial needs analysis, investment and retirement planning.
They will receive a monthly transition allowance for the first two years to help them kick-start their careers in insurance.
Prudential has recently hired job seekers who switched from other industries to be financial consultants.
Ms Camelia Soh, 25, joined in June after being a Singapore Airlines cabin crew member for five years.
"I decided to be a financial consultant as it gives me the job security that I'm looking for," she said.
"In the last few months, I've learnt so much about the insurance business from my mentor and through the various training sessions. The knowledge and skills I gained are really useful in building my career, and I do see myself in this job for a long time."
Fellow financial consultant Clare Mo, 43, joined in July when the travel agency she had worked at for more than 10 years was forced to downsize.
She said: "After I was let go by my company, I was at a loss. Should I wait for the tourism industry to recover, switch to teaching or join the civil service?
"In the end, I chose to be a financial consultant as I could see it as a long-term career, and it is more aligned with my interest in helping people with their protection needs and retirement planning. I also learnt to appreciate the importance of financial planning, especially in times of crisis."
Mr Joseph Fu, 23, joined Prudential after he had to close his digital marketing agency due to the pandemic. He said: "Being a financial consultant is like being my own boss again. I set my own goals and decide how to grow my business, while picking up essential skills that will help me succeed in my long-term career."