2010 Best Practices Study

Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000

Mgmt. Perspectives

New Producers

Profile

Revenues

Average

+25% Profit

+25% Growth

New Producer Hiring % of Agencies that Hired New Producers Last Year

Expenses

66.7%

75.0%

58.3%

Profitability

# of New Producers Hired Last Year

2.1

1.3

2.0

Employee Overview

Average Annualized Wages per Producer Hired

$56,125

$48,358

$53,023

Producer Info

Staff Service Info

Where New Producers Were Found

Technology

Outside of Industry (includes all study group responses) Other Sales ( advertising, agriculture, automobiles, franchises, manufacturing, office furniture/equipment, payroll/HR services, pharmaceuticals, real estate, telecommunications, temporary staffing ) Construction Education Financial Services ( accounting firm, banking, Healthcare Hospitality Information Technology Law Enforcement Lobbyist Management Consulting Military Non-Profits mortgage company, financial planning ) Delivery Services

Insurance Carriers

Appendix

“Successful” New Producers:

63.4% of producers hired over the last 5 years have met their production goals

2010 Best Practices Study

“It’s old news now I guess, but we just do much better with our producers if they know how to sell when they come here. We’d like to think we can teach people how to sell, but ten ex-producer candidates would tell you otherwise.”

Agencies with Revenues Between $5,000,000 and $10,000,000

112