P R A D

need sufficient to justify the investment. However, in those cases it can be a very effective strategy, as the recruiter becomes embedded in the firm and has a complete understanding of the target producer profile. The internal recruiter’s role is largely lead generation rather than closing the deal once a candidate is identified. The recruiter contacts candidates, provides some initial information and then sets up an introductory meeting with one of the firm’s executives. In some cases, internal recruiters can be used to fill all types of agency positions, not just producers. Since producers typically comprise only 20%-30% of any agency’s employees, an inside recruiter can provide value far beyond simply finding producers. An internal recruiter’s skills can potentially be used to support client needs as well. One top performer reported that they offer, on a fee basis, their recruiter to clients for occasional search work. This allows for partial coverage of the recruiter’s compensation while making a valuable service available for important clients. There are many places to look for leads on potential candidates, but top performers search for leads in as many places as possible. A leading strategy is creating a strong internal referral pipeline by regularly obtaining candidate names from employees. Employees are the best initial screeners of the types of people that fit within the firm’s unique culture. Some top performing firms provide economic incentives for employees who refer candidates, reasoning that even a substantial referral bonus is still likely to be a fraction of what they would pay to an outside recruiter. In addition to internal leads, many top performers build friendly centers of influence outside of the insurance industry that understand the agency’s unique culture and care about its long-term success. These centers of influence are widely varied but frequently include local trade partners, clients, friends, fellow volunteers in non-profits, etc. Insurance carriers can be an excellent center of influence, especially specialty carriers, in finding experienced producers. Carriers often have a broader view of the producer landscape and can be a resource in identifying candidates that might fit within a firm’s unique culture. Maximize Lead Sources

Use of Social Media as a Recruiting Tool

Finally, the use of social media (LinkedIn and Facebook, primarily) was mentioned frequently as an increasingly useful tool to widen a firm’s exposure to candidates and pre-qualify them. Those engaged in building the recruiting pipeline reported significant use of social media. While social media by itself will not likely be a winning strategy, ignoring it completely probably isn’t wise either. The strategic use of social media can complement a firm’s approach to generating a pipeline of producers.

Using social media for recruiting 41%

Not using social media for recruiting 59%

Source: Supplemental survey

31 Producer Recruiting & Development Study