New Producers: 2/3 of Insurance Agencies Not Hiring Enough

11 Jan New Producers: 2/3 of Insurance Agencies Not Hiring Enough

The average age of shareholders in insurance agencies is 2.2 years older today that it was 5 years ago.  The average age of producers is 2.1 years older than it was 5 years ago.  It all points clearly to one conclusion… Insurance Agencies are not hiring enough new producers to survive.

In fact, according to the study published by Reagan Consulting, it's not just 10% or 20% of the agencies that are under-hiring, it is 55-60% of insurance agencies are under-hiring.  For those agencies, the proverbial handwriting is on the wall…. you have no future. Your agency is guaranteed to die, decease, go away, blow-up, merge, be acquired.

To change that trend is simple, although not easy.  It's like losing weight…. simple- eat fewer calories and burn more through daily exercise.  Net result, you lose weight.

Finding, Hiring and Developing New Producers is simple….

1. There are a lot of young people, age 25-30 (over 10 million in the USA) and many of them want what you have.  Find them – they are virtually everywhere.
2. Develop a simple but powerful story to engage them, it's called Recruiting. Tell them about the money, the freedom, the potential for ownership in the insurance business.  Get them visualizing that it could be them.  Show them a picture of your partner's second home.  Tell them about how the successful people live, their lifestyles, their homes, cars, vacations…. (it's is a good gig for those that are successful)