If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate.

CALCULATING AGENCY VALUE by Roy Phillips When buying or selling an agency, be sure the price is right: base the value on projected pre-tax profit and an expert's opinion. ...

Very few employees will leave your agency simply for more money. They will usually have other valid (to them) reasons that, when also combined with a higher salary, push them to seek employment elsewhere. If a review of the compensation survey results (from another Middleton letter) confirmed that your agency is paying people within a reasonable range of 'average,' the level of compensation should not be of major concern. What you do have to worry about is how you are paying those dollars and how your management philosophy and style complement the overall compensation administration plan.

IS EMPLOYEE OWNERSHIP RIGHT FOR YOUR AGENCY? PART II by Carol Hammes Offering your employees the opportunity for agency ownership can help attract and retain quality people. Sooner or later,...

PERPETUATION PLANNING: PLANTING PEOPLE by Al Diamond Make human assets the most important resources in perpetuating your agency. A Chinese prove...

PRODUCER COMPENSATION AND THE IMPACT OF VESTING AND OWNERSHIP by Carol Hammes There are probably no two hotter topics for insurance agency principals than producer compensation and ag...

RESPONSIBILITIES AND REWARDS OF AGENCY OWNERSHIP by Carol Hammes Not everyone is cut out to be an agency owner. Some of the best producers and service reps either do not want to tak...

SHARKS WANTED: HIRING GREAT SALESPEOPLE by Chris Burand Find the best sharks and train them to be even more effective predators. We dont want the people who ...

THREE WAYS TO LOWER YOUR AGENCY VALUE by Bill Schoeffler and Catherine Oak When you sell your business, heres what youre really selling. When agency owners sell thei...

WHAT MAKES A GREAT OWNER? by Catherine Oak If the role of an owner was treated like any other position in an agency, what would the job description look like and what are the key characteri...