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InsuranceJoe asks, " So I cant start a discussion thread because the system thinks this is spam so this is why I am posting here.
We are struggling to determine what to pay personal lines producers? We have a system that pays 50% on all new business and anywhere between 25-35% on renewals. Producer is 100% responsible for all things new business (quoting, issuing, getting signed apps, etc). For renewals, the account managers re-market accounts and provide suggestions to producers whether or no to move the renewals to another carrier.
Based on these percentages, should the work-load on the renewal be more or less for the producer. What about on new business?
My worry is that if a producer is capped and continues to produce every year, but cant make more money than they did they prior year, they will be looking elsewhere for another job that pays more if they reach a ceiling at our agency.
Any insight as to what other agencies pay would be helpful. Thanks
Here is the Answer: There are two very difficult things to do in Business. Find Good People and Retain Good People.....If they are that good. They will bail!
We are struggling to determine what to pay personal lines producers? We have a system that pays 50% on all new business and anywhere between 25-35% on renewals. Producer is 100% responsible for all things new business (quoting, issuing, getting signed apps, etc). For renewals, the account managers re-market accounts and provide suggestions to producers whether or no to move the renewals to another carrier.
Based on these percentages, should the work-load on the renewal be more or less for the producer. What about on new business?
My worry is that if a producer is capped and continues to produce every year, but cant make more money than they did they prior year, they will be looking elsewhere for another job that pays more if they reach a ceiling at our agency.
Any insight as to what other agencies pay would be helpful. Thanks
Here is the Answer: There are two very difficult things to do in Business. Find Good People and Retain Good People.....If they are that good. They will bail!
