Hiring Help.

Discussion in 'General Insurance Agent Discussions' started by BShem08, Sep 10, 2017.

  1. BShem08
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    BShem08 New Member

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    I am opening my office at the start of 2018. There is a large push to hire a few team members

    I will be a captive inheriting a book of business.

    My question is at first while I'm trying to produce and have greater profits, is it necessary to hire anyone?

    Or should I put in the man hours and work my butt off at first and fly solo?

    Any help would be greatly appreciated!
     
  2. leevena
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    leevena Guru

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    You probably need to add much more info to your post.

    First I would ask you to clarify the comment about there being a push to hire people? If this is coming from the company I would think they may be on to something and you may want to consider it.

    The other is do you know how much work there would be for this person. I mean if there is a reasonable expectation of 5hrs or more per day you may be getting in over your head.
     
  3. BShem08
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    BShem08 New Member

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    So I guess what I'm trying to ask is as someone who has been in the insurance industry for over 2 years now, but first time as an agent, is it possible to shoulder the burden on your own while you build your book and make sure you have more coming in then going out? Is that a wise decision to man the ship alone until you figure out what type of hire you need and how long you need them for?

    One of the biggest parts of my training is how to recognize talent. So I guess that is what I meant when I said there is a push to hire someone.
     
  4. VolAgent
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    VolAgent Guru

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    You missed a key part of Lee's response.

    Where is the push to hire coming from, you or the company? If it is from the company, odds are you won't be allowed to run the office solo. For instance, Allstate, State Farm, etc. have mandatory minimum hours, someone has to be there and answering the phones then. So it would be extremely difficult to do yourself if you plan to be out marketing at all.

    If it is just yourself, then sure you can do it solo. It certainly is more work, but there is less overhead too. A trade off you have to be comfortable with.
     
  5. BShem08
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    BShem08 New Member

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    So the push to hire is coming from the company.

    I've read many many hours on here and it seems as though many independent agents do it on their own. I'm just wondering can it be done being a captive agent or is it more wise to hire someone.

    Commission based income is a question mark. So I figure it might be a good idea to put in the long hours(which I'm willing to do) and start solo while I figure out what I have coming in compared to what I have going out.

    Thanks for the help.
     
  6. VolAgent
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    VolAgent Guru

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    It appears you need it her it put bluntly.

    If you seriously think they will let you open your doors without hiring staff, you are sadly mistaken.

    Farmers was the only one and that was when everyone started in the Reserve District Manager's office. I believe they have gone more like State Farm and Allstate in how they start offices.

    The only ones I have ever seen run by the agent with no staff were the losers. I have seen some with just the staff member and the agent was no where to be found. These were all long-time agents on a completely different contract than what you will get.
     
  7. leevena
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    leevena Guru

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    I agree, let me see if I can explain it differently.

    1. If you are required to have another staff member then it is the end of your question, go hire one.

    2. If you are not required to have another staff member then consider the following; a) how much time will you need to devote to these activities, b) what is the cost of your time, c) will this negatively impact your primary responsibilities and if so what is that cost, and finally, d) what is the cost to hire someone.

    Hope this helps.
     
  8. dabiz
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    dabiz New Member

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    Are you purchasing the book from the captive company? How big is the book and as another stated what is the contract you are signing and does it state you must have one?

    If the book you are getting is service heavy you will spend most of your day servicing and that doesn't grow a book, but could kill it. So if you want to grow and will have immediate service needs, hire someone so you can produce. And as a captive you may have to quote quite a big depending on your market because you only have one bride.

    You really should seek SECESSFIL agents in your area with the captive company and speak with them.

    I left Farmers over 5 years ago, there were always re quoting, discounts falling off, system issues, email down you name it. If I did not have staff I may have run to Haiti. So research and ask tough questions before you get totally in.
     
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