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2013 Best

Practices Study

Agencies

with

Revenues

Over

$25,000,000

175

Analysis of Agencies with Revenues Over $25,000,000

Key Benchmarks

Mgmt. Perspectives

Profile

Revenues

Expenses

Profitability

Employee Overview

Producer Info

Service Staff Info

Technology

Insurance Carriers

Appendix

Expenses

(as % of Net Revenues)

Average

+25% Profit

+25% Growth

Compensation Expenses

Payroll: Employee

52.0%

48.8%

54.7%

Payroll: “Non-Employee” - 1099 Producers/Temp Help

3.3%

1.4%

2.3%

Total Payroll

55.3%

50.2%

57.0%

Benefits: Payroll Taxes

2.9%

2.3%

2.6%

Benefits: Retirement

1.9%

1.1%

1.4%

Benefits: Insurance

3.2%

2.4%

2.7%

Benefits: Other

0.9%

2.1%

2.2%

Total Benefits

8.8%

7.9%

8.9%

Total Compensation

64.1%

58.1%

65.8%

Selling Expenses

T&E/Conventions

2.1%

2.0%

1.9%

Auto Expenditures

0.7%

0.3%

0.7%

Auto Depreciation

0.1%

0.0%

0.0%

Total Auto

0.8%

0.3%

0.7%

Advertising/Promotions

0.9%

0.6%

0.8%

Total Selling

3.8%

2.9%

3.4%

Operating Expenses

Occupancy Expenditures

3.5%

3.6%

3.5%

Occupancy Depreciation/Amortization

0.3%

0.1%

0.2%

Total Occupancy

3.7%

3.8%

3.7%

Office Equipment Expenditures

0.5%

0.5%

0.4%

Office Equipment Depreciation

0.3%

0.1%

0.3%

Total Office Equipment

0.8%

0.6%

0.7%

IT (Information Technology)

1.6%

1.5%

1.3%

IT Depreciation/Amortization

0.4%

0.3%

0.5%

Total IT

2.0%

1.8%

1.8%

Telephone

0.6%

0.5%

0.6%

Postage

0.3%

0.2%

0.2%

Supplies/Printing

0.6%

0.7%

0.5%

Dues/Subscriptions/Contributions

0.7%

0.5%

0.7%

Taxes/Licenses

0.3%

0.3%

0.3%

Insurance

1.2%

1.4%

1.1%

Professional Fees

1.2%

0.9%

1.1%

Bad Debts

0.1%

0.2%

0.0%

Outside Services

0.8%

0.9%

1.1%

Education/Training

0.3%

0.1%

0.2%

Miscellaneous

0.6%

0.9%

0.2%

Total Operating

13.2%

12.9%

12.2%

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