There are a lot of good reasons to recruit and hire accomplished, energetic and results-driven producers. Certainly, the revenue they can generate for your agency is a primary reason, but there's more. Identifying good producers as a potential partner and future agency owner is another reason why agency owners need to take the time needed to recruit wisely. It's not as difficult as you might think. In fact, hiring good people can be easy – if you know what to look & listen for.
The average insurance agent today is over 50, and it's more obvious every year why we need to bring on a new generation into the insurance industry. I have seen a lot of things stop independent agency owners from creating their succession plan. TIME seems to be #1 reason – agency owners are busy retaining and growing their own book of business and have little time or skill in recruiting or training new producers. Let alone creating a succession plan. There is often recognition - when it’s too late - and agency owners realize that they want to retire in five years; have developed no management transition or employee replacement plans, and have little alternative other than selling out to banks or large conglomerates.
Here are some step by step ideas for finding a good fit for your organization:
#1. Instead of running an ad in the paper, consider asking your STAFF for RECOMMENDATIONS. Have them bring a list of 3 names of good people they trust to next week’s meeting. Along this line, make an announcement at the next Rotary, Lions, or community leads group meeting, or ask some of your largest/closest insured relationships. BE CLEAR about the kind of qualities you are looking for in a person. Try to interview several candidates if possible.
#2. CHARACTER COUNTS. Start with your agency values. Identify the qualities you value and respect. What kind of organization does your mission statement [or vision statement] say you aspire to be in terms of customer focus, leading edge approach(s), etc. In other words, start with who you say you are and what you say you want to be.
#3. INTERVIEW well. Ask your applicant(s) relevant questions pertaining to ethics and problem solving situations that you face in the insurance industry ~ questions that will tell you about this person’s judgment. One of my clients actually has a 10 question, timed test he gives all applicants. Have some of your key staff interview this person as well. Would they buy insurance from the person sitting across from them? Listen to your instincts (and your staff). Someone who is energetic, teachable and willing will likely give you more return than someone who has a polished speech or resume.
#4. Find TOOLS that can assist. There are a lot of testing products out there, and a couple that are best known. Try one that is simple and inexpensive first, before investing in the more costly ones.
#5. Establish a time-phased TRAINING program. Assign a “buddy” to the new hire based on personality and aptitude, not necessarily experience or years in the agency. Some of your most experienced staff are not necessarily the best teachers.
- Have your new hire sit with staff to learn about agency technology, input and communication.
- Then have a list of assignments on insurance companies – have them make calls to find out what each carrier is writing in your particular state (not the region) and what they really expect from a new employee.
- Talk about the importance of writing good business – and explain what “good business” means. Give specific examples.
- Create a simple flow chart of how insurance works, from the insured request to agency quoting process and carrier expectations. Explain the quoting process via automation vs. formal submissions. Talk about what should be in a cover letter to a carrier, and letters of engagement to potential customers.
- Assign seasoned producer ride-alongs.
- Ask the new hire to come up with a list of things they want to know, judgments they may be developing, and personal concerns.
- If the agency principal is unwilling or unable to train personally, assign a producer or manager that is.
- Track progress (activity) weekly.
For more information about leadership and succession planning executive level coaching and implementation of change initiatives, e-mail Brandie@powerhouselearning.com or visit www.powerhouselearning.com.