Insurers, banks still
in hiring mode

Despite the economy, a few
industries are able to remain stable

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By Lyn Danninger
ldanninger@starbulletin.com

In spite of the economic downturn and fallout of jobs following Sept. 11, at least two industries in Hawaii -- insurance and banking -- seem to be weathering the storm, remaining relatively stable and in some cases, expanding.

The total number of jobs in the combined finance, insurance and real estate industry was nearly unchanged during November -- a period when the state shed 3,600 jobs and the unemployment rate climbed to the highest level in two years, according to figures from the state Department of Labor and Industrial relations.

The state's largest health insurance company, Hawaii Medical Service Association, has seen an increase in job applicants in recent months and fewer people leaving, said Cliff Cisco, HMSA vice president.

"We have seen a higher level of applicants coming in, also the turnover rate is lower than last year, especially for the latter part of the year," he said.

Cisco notes the quality of applicants has also improved in recent months.

"A lot of talented people are applying," he said.

Likewise at Island Insurance Cos.

"We've have had a number of unsolicited people come in and apply for jobs and a number of inquiries," said company President Linda Gilchrist.

At First Hawaiian Bank, Senior Vice President of Corporate Communications Gerry Keir notes much the same pattern.

"We are hiring when there is turnover in customer service positions but I wouldn't say we're expanding," he said. "Also the amount of turnover has been less than normal."

But at GEICO, one of Hawaii's largest auto insurers, not only has the quantity and quality of applicants improved, the company has been expanding.

"We've probably hired about 15 people in the last two months, said Tim Dayton, president of GEICO. "I've been really impressed with the quality of applicants we ended up hiring."

Dayton attributes part of the increase in applicants to a perception of stability in such industries as banking and insurance.

Stability, security and job growth potential are high on the list of many job applicants, especially since Sept. 11, he said.

"We're not seasonal or cyclical based on the economy," he said. "People generally seem to be very serious about finding a stable job that offers some career growth, so we've been very fortunate."