Search CompleteMarkets

... of different but simultaneous contests: some monthly, others quarterly, and at least one that's annual. Include service and support personnel in the spoils as well. Rewards can range from a traveling trophy or a weekend in a nearby city, to a cruise or a ski trip. Criteria for winning could be the producer or team with the largest percentage or commission growth, the highest number of new accounts, or any other measurable item that can be tied to sales success. Many agencies have instituted sales programs that don't seem to ... of employee a retention-based reward structure might be more effective. Give CSRs who enjoy sales the title of Customer Service Agent and reward them for expanding and selling new accounts. It's important to keep the agency's operating budget in mind when setting up incentive programs. The average insurance agency spends 21% -24% of total revenues on office payroll — excluding payroll taxes and other employee benefits. This is up several points from just five years ago. If you already have salaries that are at 25% or more of revenues, your ... book or in the agency itself. The best way to provide equity in the book of business is to set up a deferred compensation plan while still maintaining ownership of expirations with the agency. If the agency's perpetuation plan calls for bringing producers into ownership of stock or partnership interest, the vested deferred compensation amounts can be traded for equity interest in the agency. When you're developing a long-term producer relationship remember that money isn't the only motivator. People have unique needs. The more that the agency can do to meet those needs, ...

...organizational, and time management skills and develop a training program to f...any bonus trip, a 4 or 7 day cruise or ski trip, a monetary bonus. Criteria fo...