172 / 191
2010 Best
Practices Study
Agencies
with Revenues
Over $25,000,000
172
Analysis of Agencies with Revenues Over $25,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Where New Producers Were Found
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,
mortgage company,
financial planning
)
Delivery Services
Healthcare
Hospitality
Information Technology
Law Enforcement
Lobbyist
Management Consulting
Military
Non-Profits
“Successful”
New
Producers:
62.4%
of producers hired over
the last 5 years have met
their production goals
Average
+25% Profit
+25% Growth
New Producer Hiring
% of Agencies that Hired New Producers Last Year
100.0%
100.0%
100.0%
# of New Producers Hired Last Year
12.6
29.8
7.2
Average Annualized Wages per Producer Hired
$102,192
$84,000
$98,347
New Producers
“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.”