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.

CULTIVATING THE AGENCY TEAM by Carol Hammes Use these ingredients to build and maintain an effective operation. Whether your agency's business plan includes growth from internal pr...

FEE VS. COMMISSION-DOES IT MAKE A DIFFERENCE? The following article focuses on the insured's perspective of fee and commission based broker remuneration. Understanding the philosophies of both can b...

ORGANIZING TO SUPPORT THE SALES EFFORT by Carol Hammes At some point, it becomes essential to step back from the situation and evaluate whether the organizational structure and job descr...

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...

SKILL SETS FOR A SUCCESSFUL RISK MANAGEMENT CAREER by Ben Schull What does it take to have a long and successful risk management career? Pamela Rogers, director of risk management for Sears, Roe...