In response to the skills shortage, Zurich Financial Services Australia has launched a cadet program to source and develop the next generation of employees for the financial services sector.
The program will provide financial assistance to school leavers looking to commence tertiary studies in a relevant field, while gaining practical work experience at Zurich.
Successful candidates will generally undertake a four to six-year program with Zurich, integrating both part or full-time work and study.
Zurich undertook a successful pilot with two cadets earlier this year, and has now selected 11 final-year high school students from the Sydney metropolitan area to join the cadetship program in 2009.
The cadets will work in Zurich's investment, life risk and general insurance business divisions.
Each cadet will also be allocated a mentor, in most cases the direct manager, who will further assist them in their progress.
Offering this program enables Zurich to secure talented young people and guide them towards a long-term career path with the organisation, Zurich chief executive David Smith said.
"There is a severe shortage of new talent entering the financial services industry. This will continue to diminish as the baby boomers retire, leaving huge gaps in knowledge and experience," he said.
