25-27BPStudyCovers

NEW PRODUCER HIRING

AGENCIES WITH REVENUES OF:

MEDIAN

<$1.25M $1.25-2.5M $2.5-5M $5-10M $10-25M $25-100M >$100M

% of Agencies that Hired New Producers Last # of New Producers Hired Last Year Median Annualized Wages/Prod Hired # New Producers Hired Past 5 Years Producer Success Rate Past 5 years

0.0%

0.0%

0.0%

100.0%

100.0%

100.0%

100.0%

-

-

-

1.0

2.0

4.0

15.0

$12,000

$46,349

$50,000

$74,384

$75,000

$126,000

$95,420

-

-

-

1.0

2.0

4.0

15.0

23.0%

39.1%

34.9%

34.5%

33.8%

30.9%

29.2%

AGENCIES WITH REVENUES OF:

TOP QUARTILE

<$1.25M $1.25-2.5M $2.5-5M $5-10M $10-25M $25-100M >$100M

# of New Producers Hired Last Year Avg Annualized Wages/Prod Hired # New Producers Hired Past 5 Years Producer Success Rate Past 5 years

1.0

1.0

1.0

2.0

4.0

7.8

23.8

$59,311

$82,500

$82,305

$105,921

$101,875

$151,250

$133,383

2.0

4.0

7.8

23.8

1.0

1.0

1.0

N/A

100.0%

63.5%

100.0%

82.3%

83.8%

69.5%

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-2.5M $2.5-5M $5-10M $10-25M $25-100M >$100M

Recruiting & Development Techniques:

Recruiting: Targeted College Recruiting Efforts/Programs

16.7%

29.7% 32.4% 51.4%

12.7% 38.2% 63.6%

31.5% 57.4% 72.2%

50.0% 68.9% 85.1%

64.3% 73.8% 83.3%

72.2% 66.7% 83.3%

Use of Outside Recruiters

5.6%

Use of Social Media as a Recruiting Tool

38.9%

Assessment: Testing (Sales, Personality, Intelligence Capabilities, Call Reluctance, etc.)

50.0%

62.2%

72.7%

75.9%

77.0%

85.7%

83.3%

Development: Internship

33.3% 33.3%

37.8% 43.2%

29.1% 60.0%

50.0% 75.9%

54.1% 75.7%

76.2% 81.0%

83.3% 77.8%

Mentorship

Technical Training: Internal

72.2% 55.6%

86.5% 59.5%

89.1% 81.8%

96.3% 79.6%

93.2% 85.1%

95.2% 88.1%

83.3% 88.9%

External

Sales Training: Internal

61.1% 44.4%

73.0% 62.2%

69.1% 76.4%

92.6% 85.2%

89.2% 86.5%

92.9% 85.7%

83.3% 77.8%

External

Selling Structure: Required Specialization

27.8% 44.4% 27.8%

18.9% 32.4% 45.9%

20.0% 54.5% 63.6%

35.2% 59.3% 64.8%

32.4% 74.3% 77.0%

38.1% 85.7% 78.6%

38.9% 83.3% 72.2%

Team Selling

Assigned Accounts

Cross Category Comparison

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