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2007 Best Practices Study | Agencies with Revenues Between $1,250,000 and $2,500,000 | Producer Info
Agencies with Revenues Between $1,250,000 and $2,500,000
Appendix
Insurance
Carriers
Technology
Service
Staff Info
Producer
Info
Employee
Overview
Financial
Stability
Revenues/
Expenses
Executive
Perspectives
Profile
Producer Information
Where New Producers Were Found
Outside
of Industry
36.7%
Directly From
College or
Graduate
School
23.3%
An
Insurance
Carrier
10.0%
Another
Insurance
Broker
30.0%
New Producer Hiring
Average
+25% Profit
+25% Growth
% of Agencies that Hired New Producers Last Year
26.7%
*
*
# of New Producers Hired Last Year
1.4
*
*
Average Annualized Wages per Producer Hired
$45,830
*
*
Future Hiring Plans
Average
+25% Profit
+25% Growth
% of Agencies That Plan to Hire a New Producer
During Current Fiscal Year
56.7%
50.0%
25.0%
Number of Producers to be Hired
1.1
1.0
*
“Successful” New
Producers
69.8%
of producers hired over the
last 5 years have met their
production goals
“Recognizing the importance of the ‘people’ thing, we’ve given our
President marching orders – his job, first and foremost, is to
network and recruit. We think we can do just fine if we focus on
filling this building with the right people.”
*Insufficient Data
“Outside of Industry” includes other sales (technology, golf,
pharmaceuticals, food, uniforms), IT consulting, hospitality, fund-raising,
banking, manufacturing, telecommunications, environmental, non-profit,
and trucking
*Insufficient Data