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Retaining Key Employees - Planning for Growth & Profit

Retaining Key Employees - Planning for Growth & Profit


 

As a leading national recruiter to the insurance agency/brokerage industry not a working day passes without being asked about recruiting, hiring and keeping quality producers, sales leaders or practice leaders.

Over the next few weeks, we will send out three email newsletters that speak to this topic. The information presented comes from discussions with Top 100 brokers (Business Insurance) and have been reinforced by third party sources including the Harvard Business Review (2011).

The three emails newsletters will include:

  • Finding key people to drive agency growth.
  • Retaining key employees.
  • The hiring process and use of recruiters.

10 IDEAS FOR RETAINING KEY PEOPLE TO DRIVE AGENCY GROWTH & PROFIT 

  

1. Initially hire for key positions when the person will fit your culture.

 

2. Have a career development program for all key positions.  

 

3. Communicate your business strategy and goals and get everyone to feel ownership.

 

4. Have mentoring program for every key person and future leaders.

 

5. Make your firm the best place to achieve personal and business success.

 

6. Have a formal program to recognize accomplishments and reward results.

 

7. To the extent possible have some ways to individualize rewards for significant accomplishments.

 

8. Communicate and reinforce the culture of your organization.

 

9. Understand what drives the Boomer, Generation X and Generation Y employee. There are differences.

 

10. Do exit interviews to understand why a key person is leaving and minimize future departures.

 

To discuss any of the points in length, please feel free to call Neil Huson, EVP, The Rogan Group at 520-546-1484 or Dan Rogan at 800-440-0082.