Despite current workforce trends, it is still possible to attract more talent than your agency needs. Hiring and retaining talented Insurance Producers is a huge factor in the overall business process. Hiring to retain and train a person for a long term working relationship is very time consuming and requires leadership and commitment. This article covers some helpful hints, as well as external links, to help you retain a success workforce and encourage success.
Retention Tips
Hiring successful Insurance Producers that will enable you to maintain and grow your insurance business is just the start, next you have to keep them. For businesses to avoid the costs of high turnover (i.e. time and productivity), here are a few tactics to retain employees:
- Offer a competitive benefits package that fits the needs of your employees such as health and life insurance, a retirement-savings plan, flextime, and telecommuting. This shows the employees that you recognize and care about their lives outside of the work environment.
- Provide some small perks such as free bagels on Wednesdays or company provided lunch during monthly meetings. It might seem insignificant to you, but employees will appreciate it and may be more likely to stay.
- Use contests and incentives to help motivate employees and make them feel rewarded. These types of programs can keep employees focused on goals and excited about their jobs.
- Promote from within whenever it is possible. This gives employees a clear path of advancement and conveys that hard work and dedication does not go unrecognized.
- Encourage employee development through on the job training or tuition reimbursement to help further an employee’s education and value to the company.
We at SIS understand how important it is to retain employees. Through our shared experiences, we have learned that a dynamic way to retain employees is to spend time focusing and improving the company culture, training programs, and incentives. Don’t underestimate the importance of effective managers. Effective managers communicate clear expectations to the employee, share the big picture of what constitutes success, and provide frequent feedback to ensure the employee feels valued. In essence, developing effective managers will in-turn lead to a well-developed staff.
Aside from providing a solid software to help agencies run better, we aim to provide assistance in key business initiatives such as those described in this blog. For more information, please feel free to contact us at 800-747-9273 or [email protected].
