The Automatic Insurance Agency

27. Paying Profitable Base Salaries in Your Insurance Agency


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Make Each Team Member Profitable by Rewarding them for Retaining Your Renewal Book


  • Pay base salaries based on the amount of business each team member services / renews to create fair compensation, high employee retention rates, and long-term profitability.
  • Offer draws or advances against bonuses to attract talented individuals hesitant to work for commission-only. 
  • Evaluate each employee's profitability and their contribution to the agency's revenue.
  • Confirm that employees with base salaries generate enough renewals to make the agency & the owner a profit.
  • Paying a base salary to a P&C Rainmaker who only focuses on business acquisition (and does no service or retention work) can result in financial losses for the agency.



START WITH THE eBOOK

  • Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them



SCHEDULE A STRATEGY SESSION


We’ll Discuss Your

  • Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?
  • Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal?
  • Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?
  • Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?


Then, We’ll Discuss the Plan & Expected Results

  • Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.
  • The best way to help you achieve your goals, based on your style and time available to implement.
  • Your anticipated time investments & money investments.
  • What guarantees we can make


Schedule a Strategy Session

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The Automatic Insurance AgencyBy Wade Galt, CPCU, CLU