• 27. Paying Profitable Base Salaries in Your Insurance Agency

  • Nov 9 2023
  • Length: 17 mins
  • Podcast

27. Paying Profitable Base Salaries in Your Insurance Agency

  • Summary

  • Make Each Team Member Profitable by Rewarding them for Retaining Your Renewal Book


    • Pay base salaries based on the amount of business each team member services / renews to create fair compensation, high employee retention rates, and long-term profitability.
    • Offer draws or advances against bonuses to attract talented individuals hesitant to work for commission-only. 
    • Evaluate each employee's profitability and their contribution to the agency's revenue.
    • Confirm that employees with base salaries generate enough renewals to make the agency & the owner a profit.
    • Paying a base salary to a P&C Rainmaker who only focuses on business acquisition (and does no service or retention work) can result in financial losses for the agency.



    START WITH THE eBOOK

    • Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them



    SCHEDULE A STRATEGY SESSION


    We’ll Discuss Your

    • Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?
    • Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal?
    • Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?
    • Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?


    Then, We’ll Discuss the Plan & Expected Results

    • Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.
    • The best way to help you achieve your goals, based on your style and time available to implement.
    • Your anticipated time investments & money investments.
    • What guarantees we can make


    Schedule a Strategy Session

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