2017 Best Practices Study

AGENCIES WITH REVENUES OF:

AVERAGE

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

% of Agencies that Hired New Producers Last Year # of New Producers Hired Last Year Avg annualized wages per prod hired # New Producers Hired past 5 Yrs Producer Success Rate past 5 years

20.0%

42.4%

46.8%

67.4%

90.5%

97.4%

1.3

1.3

1.4

1.9

2.6

6.8

$41,279

$51,021

$63,533

$72,860

$79,349

$97,396

1.0

1.0

3.0

4.0

9.5

23.0

66.3%

59.2%

56.9%

56.9%

58.9%

58.5%

AGENCIES WITH REVENUES OF:

TOP QUARTILE

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

# of New Producers Hired Last Year Avg annualized wages per prod hired # New Produceres Hired past 5 Yrs Producer Success Rate past 5 years

* *

2.0

2.2

3.3

5.3

14.7

$93,781

$125,288

$134,038

$137,229

$162,588

4.0

4.0

4.0

4.0

4.0

4.0

100.0%

100.0%

97.1%

91.6%

80.9%

81.2%

AGENCIES WITH REVENUES OF:

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

Recruiting & Development Techniques:

Recruiting: Targeted college recruiting efforts/programs Use of outside recruiters

* *

31.8% 36.4%

25.0% 25.0%

31.0% 50.0%

38.1% 61.9%

61.5% 69.2%

Use of social media as a recruiting tool

18.8%

54.5%

46.9%

69.0%

78.6%

87.2%

Assessment: Testing (sales, personality, intelligence capabilities, call reluctance, etc.)

62.5%

81.8%

81.3%

88.1%

90.5%

84.6%

Development: Internship Mentorship

*

40.9% 59.1%

31.3% 78.1%

42.9% 92.9%

50.0% 83.3%

59.0% 97.4%

68.8%

Technical training: Internal

75.0% 81.3%

81.8% 63.6%

84.4% 84.4%

95.2% 83.3%

90.5% 88.1%

89.7% 82.1%

External

Sales training: Internal

68.8% 75.0%

77.3% 72.7%

78.1% 84.4%

95.2% 88.1%

92.9% 81.0%

94.9% 69.2%

External

Selling structure: Required specialization

18.8% 43.8% 20.0%

22.7% 72.7% 54.5%

21.9% 56.3% 55.3%

28.6% 76.2% 65.2%

28.6% 83.3% 66.7%

43.6% 89.7% 71.8%

Team selling

Assigned accounts

*Insufficient Data