P R A D

The collective responses to these questions should begin to provide each firm with a picture of where the primary strategic focus should be on hiring. As stated previously, the feedback provided supports being opportunistic and open to hiring from any source; but, as a primary focus for the majority of hiring, firms will increase their odds of success by playing to their strengths.

From the interviews with the most successful firms, we also received some additional insights on how they have determined their primary focus for recruiting and hiring:

• Although some firms have “sworn off” college recruiting, many still find it fruitful and will use intern programs to help make better choices. Frequently, firms will place the new hires in an account executive or account handling position for a few years before allowing them to sell. • There is a clear appeal to hiring young men and women who have work experience, especially when they have sold a complex product on a business-to-business (B2B) basis. The target age is most frequently in the 25-30 range. • Those with insurance experience but no direct sales experience have also proven to be good candidates for many agencies. This is especially true in employee benefits with carrier employees who have supported the sales efforts of agents and have great technical skills but no direct sales experience. • Experienced insurance salespeople continue to be most highly valued. Candidates that have the greatest potential to be hired are producers working for agencies where there has been a “disruption” (i.e., a change in compensation plan, new leadership, change in ownership, etc.). Those agencies that have much to offer producers (better compensation, ownership opportunities, better tools and resources, etc.) have focused on pursuing producers working in firms that are not in a position to match those offerings. Based on what each firm has learned from their own experience (the good and the bad) and the experience documented here from many of the leading firms in our industry, it is vitally important that every firm develop a strategy and plan that establishes who each firm needs to be pursuing. Answering the questions listed in this chapter will help firms narrow their focus and determine their sweet spot.

Once firms establish which candidate pools are best suited for them, they can start building and focusing recruiting, training and development efforts in such areas.

Recognizing that opportunities will likely come along in other candidate pools, each firm should consider in each candidate pool the characteristics and qualities that will be best suited for them. Establishing these parameters in advance will better position firms to respond to opportunities in all areas when they come along and will help build a pool of high quality candidates.

27 Producer Recruiting & Development Study