Most of our agency clients tell us they have a hard time finding producers. They want to know where to look and how to bring them into the agency. It is not an easy task to find someone who is experienced from an
other agency, especially someone who can come in free-and-clear with a book of business and easily fit into the agency’s culture. Every agency is different, has different levels of support staff, different markets, training, computers, perks, and contracts.
The following are some of the ways an agency can find good people and be successful in this endeavor from our experience in working with thousands of agencies over the past 35-plus years.
Promote from Within
We have interviewed so many agency staff from countless agencies who feel resentful that owners and managers often look outside the agency to bring in managers
and new producers. They may be account managers who have worked in the agency for a long time and know the customers, underwriters, and the agency’s processes and procedures well.
Often, we are told they do not have an avenue to move up in the organization, nor are they ever asked at performance review time. It is just “assumed” that they are not interested or willing to move up.
They also have a big fear that if they did move into sales, they would have to go on straight com
mission. With this concern, even if they have a sales personality and could handle most commercial lines or benefits call-ins, they won’t accept the job.
Watch More Image Part 2 >>>
The answer can be a different role, a role that some agencies call an account executive (AE). AEs can handle existing books as producers do but are not expected to bring in new clients. They are usually expected to cross sell the ex
isting account with other coverage lines, such as umbrellas, EPLI, fiduciary responsibility coverages, b
usiness interruption, cyber, and more. Most can do this if they have taken some CSR and CIC courses and have a good manager to learn from.
The key is to properly compensate them for this work. Most AEs that have this type of position are compensated on a percentage of the book they handle as a sala
ry, usually in the 20% to 25% range. AEs still have CSRs to delegate to for clerical tasks and operate more as a producer on their accounts. If they cross sell or bring in new accounts, they should receive commission for this outside of their salary.
In most agencies, personal lines sales are handled by the CSRs/account managers and not specific producers.
