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Staffing & Productivity: How Do You Measure Up?
STAFFING & PRODUCTIVITY: HOW DO YOU MEASURE ...

Staffing Smart
STAFFING SMART by Roy Phillips Agency profit...shops) to a high of 32 percent (overstaffing in action). If our example agency...

... are not currently being met well or at all. By doing this cost-effectively, we can achieve satisfaction and ultimately profit. We will begin with an industry with which we have knowledge and access: restaurants. &# 160 2. OWNERSHIP/FINANCIAL STRUCTURE. The structure adopted must be appropriate, legally and financially sound, and tax-smart. This step would also include the development of a perpetuation plan and development of working relationships to ensure productivity and security among the founders and partners. &# 160 3. MARKETING PLAN. Reaching your markets is critical. Your plan could be (1 ) distributed through a national restaurant association, (2 ) endorsed by the association as we approach clients accessed by the association's mailing list, (3 ) based on a systematic marketing campaign, and (4 ) staffed (internal and production) by people who are experienced in the restaurant business. &# 160 4. CARRIER CONTRACT AGREEMENT. Focus on finding carriers that demonstrate commitment, financial integrity, market stability, communication skills, and coverage flexibility. &# 160 5. ORGANIZATIONAL STRUCTURE. With operational and automation plans in mind, consider determining the organizational structure of the agency. &# 160 6. PRO-FORMA BUDGET AND OPERATING FINANCIAL PLAN. To find and allocate financial resources, you must know what is needed and whether the profit will support the endeavor. Why not do this earlier, you wonder? Because you can't plan income and expenses until you have described the sources of income and the necessary expenses of organizational and marketing activity. &# 160 7. CAPITALIZATION & FUNDING SOURCES. Determine ...

...fied and acquired.   10. STAFFING. Factors important would include: (1...accommodate carriers?   10. STAFFING. As your agency evolves into a ma...

... This content has not been rated yet. CompleteMarkets Editor , Judith Newman 4/30/2013 10:43:49 PM ALTERNATIVE WORK SCHEDULES: TRY FLEXTIME by Judith Newman Innovative work schedules that depart from the traditional five-day, nine-to-five' variety have been around now for over 20.. All Articles by CompleteMarkets Editor Comments (0 ) Life Insurance: Unlimited Opportunities This content has not been rated yet. CompleteMarkets Editor , Judith Newman 4/30/2013 12:00:00 AM Why don't all Property Casualty agencies receive at least 20% of their commission income from Life, Health, and employee benefits? ' This article will show you why this potential revenue source remains untapped by so many firms, and what to do about it. All Articles by CompleteMarkets Editor Comments (0 ) Staffing & Productivity: How Do You Measure Up? This content has not been rated yet. CompleteMarkets Editor , Judith Newman 4/30/2013 10:43:12 PM STAFFING & PRODUCTIVITY: HOW DO YOU MEASURE UP? by Judith Newman Is your agency overstaffed - or understaffed? How would you describe your agencys performance: Hi.. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... recommend to an ag.. All Articles by CompleteMarkets Editor Comments (0 ) Final Check: Protect Against Errors And Omissions This content has not been rated yet. CompleteMarkets Editor , Grace Bauer 4/30/2013 12:00:00 AM FINAL CHECK: PROTECT AGAINST ERRORS AND OMISSIONS by Grace Bauer Is only one employee accountable for each procedure in.. All Articles by CompleteMarkets Editor Comments (0 ) Should CSR's Sell? This content has not been rated yet. CompleteMarkets Editor , JoAnna Brandi 4/30/2013 12:00:00 AM SHOULD CSRs SELL? by Joanna Brandi Although most customer service reps don't like to sell, they love to help and to be useful. If you ask them if they would feel good if.. All Articles by CompleteMarkets Editor Comments (0 ) Staffing Smart This content has not been rated yet. CompleteMarkets Editor , Roy Phillips 4/30/2013 12:00:00 AM STAFFING SMART by Roy Phillips Agency profitability can start with well-trained, well-compensated customer service reps who know their jobs. Reasonable expense ratios can be the difference b.. All Articles by CompleteMarkets Editor Comments (0 ) 1 2 x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... of the insurance agency has changed dramatically, and the need for effective financial management has increased. Much of the accounting is done automatically by the computer, with the remainder handled by the accounting staff. The computer system is frequently managed by an Information Systems Manager. The financial manager may have responsibility for the accounting, automation, and/or administration departments, but his role has expanded significantly. With the amount and speed of change occurring and the significant pressure on profit margins, the financial manager is having to do much more than ever in the past. In the past, financial managers tracked the agency's overall performance. Today, operating performance is needed on every profit center, department, book of business, and producer. Decisions are made every day on marketing strategies, producer compensation, staffing, and so on. Consequently, detailed and accurate information is required on every aspect of the operation. With the pressure on profit margins, an agency must effectively manage revenues and expenses. As a result, the financial manager is not just tracking receivables, investment income, and expenses, but is also finding ways to negotiate better agreements with carriers, financial institutions, and other providers. He is not just keeping score-he is managing. For large agencies today, opportunities abound for acquisitions, mergers, or other strategic affiliations. The impact of these transactions on profitability, cash flow, taxes, operating performance, and agency value must be managed. In addition, there are challenges presented by fees versus commissions and by alternative risk-financing options, such as risk-retention groups, captives, traditional self-insurance ...

... Barrett This content has not been rated yet. As sales and marketing professionals continue conversations about increasing productivity, decreasing expenses, and boosting sales, the same comment is heard repeatedly: What this organization needs is a winner! From an agency perspective, that comment often translates into a wish for young, aggressive salespeople who are willing to work and sacrifice to establish themselves and build the book of business that every agency/brokerage principal is looking for. As a marketing manager, you have the biggest opportunity in the industry. Every company wants more production and fewer losses; what have you done to help? People in the field see how various agencies and brokerages operate and, just like consultants, can gather knowledge and help others. Most principals are looking for the magic bullet' answer to staffing woes, but there's a problem-not many young people entering the insurance industry. This diminution is reaching epidemic proportions as many principals approach retirement age and discover their firms aren't worth what they used to be. The industry is in a four- to seven-year glut of agencies and brokerages that need to be fine-tuned and adapted to new ways of thinking, and carriers who seize on that opportunity are the players of tomorrow. If you don't grab this particular bull by the horns, you're going to be left with an agency whose affairs you're forced to manage. As an insurance company representative, your greatest challenge is to develop a systematic approach to helping your agents and brokers identify and hire talented salespeople. Currently a handful of carriers are working with their agents to put mentor programs and sales campaigns in ...

... tried to solve this problem by 'staffing for growth,' adding more people in a...gure out whether there might be overstaffing in one area and a shortage of per...