2010 Best Practices Study
Analysis of Agencies with Revenues Over $25,000,000
Mgmt. Perspectives
New Producers
Profile
Revenues
Average
+25% Profit
+25% Growth
New Producer Hiring % of Agencies that Hired New Producers Last Year
Expenses
100.0%
100.0%
100.0%
Profitability
# of New Producers Hired Last Year
12.6
29.8
7.2
Employee Overview
Average Annualized Wages per Producer Hired
$102,192
$84,000
$98,347
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:
62.4% of producers hired over the last 5 years have met their production goals
2010 Best Practices Study
“We have come to realize that we need to put as much or more effort into recruiting new talented employees as we do into going after new business. This is only logical - a talented new producer is much more valuable than a single new account.”
Agencies with Revenues Over $25,000,000
172
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