CHANGING ENVIRONMENT MAKES HIGH VALUED AGENCIES EASIER TO RECOGNIZE by Robert Smith Stories are starting to circulate around agency/brokerage meetings, 'Did you hear what the ABC or XYZ Age...

CLUSTERS - ARE THEY RIGHT FOR YOU? by Val Jordan As an independent agent, you know that it's becoming increasingly difficult to find products and services. Carriers have incr...

COMBINING INCENTIVE COMPENSATION WITH EMPLOYEE EVALUATIONS by Al Diamond An effective Incentive Compensation Program will benefit your staff - and your agency. An Inc...

COMPENSATING PRODUCERS by Harry Brooks, CPCU, CLU There probably is no subject in the field of insurance agency management that is discussed as frequently, but on which there are su...

COMPENSATING THE INSURANCE AGENCY OFFICE STAFF by Harry Brooks What should you be paying your agency office staff members, other than producers? It is not a sufficient answer to say...

COMPENSATING YOUR SALES CENTER COORDINATOR By Darren Clevenger One of the most critical factors that can make the difference between an average sales center coordinator and a great ...

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.

The determination of adequate compensation levels for the staff is one of the most difficult issues...

One of the most common questions we hear during consultation involves compensation for owner/producers, existing producers, and new producers. The principal question is how much and how to pay for production that compensates salespeople fairly and gives them incentives for continued growth.

The answer is complex because the same compensation models don't fit all producers.

Change — it’s inevitable. A recent article stated that “change is not progress; change is the price we pay for progress.” As consumers, we all want more, better, less costly stuff than we have today. As providers of products and services, we feel that we’re already doing more with less and shouldn’t be expected to sacrifice again. Maxine, the cartoon character, summed it up best when she said, “change is good, as long as I can do what I’ve always done.”