P R A D

Other Support and Oversight Techniques Used to Support Producer Development (% of Firms Doing)

85%

Pipeline of leads/activity is carefully monitored

Client Relationship Management (CRM) system used actively Lead generation assistance (purchased leads, telemarketing, etc.)

60%

35%

Source: Supplemental survey

Customizing the Training and Development Program

The variety of training and development methods used impact different producers in different ways. We repeatedly heard from top performers that a haphazard, make-it-up-as-you-go approach needs to be replaced by coordinated programs that are intentional and proactively managed. Several firms attributed their recent advancements in producer recruiting and development to the significant investment they have made in their development programs. As was noted on page 25 of the study, there are generational differences between the various producers that will potentially be hired. The most effective training and development plans for each generation will tend to be different and should be tailored to recognize each specific generation’s core values, work ethic, assets and liabilities, interaction style, and motivation. We have included in the addenda of this study a brief comparison of the differences between today’s major generation groups (the generational differences). We encourage a more in-depth analysis and understanding of these generational differences and how they can be best addressed in their development and management.

Now that we have addressed five of the six Critical Success Factors, we will turn our attention to owning and leading the strategy for producer recruiting and development.

44 Producer Recruiting & Development Study