P R A D

Success Rates of Mentoring

63%

63%

61%

61%

60%

55%

51%

44%

All Producers

Hired from Outside the Industry

Hired from the Insurance Industry with No Sales Experience

Hired in their 20s or 30s

Success Rate with Mentors

Success Rate without Mentors

Source: Supplemental Survey

Most often, mentoring is provided by senior producers and sales leaders. There is an ongoing debate about whether or not producers should be compensated when they serve as a mentor. The data indicates that 60% of firms provide no compensation for mentoring. Based on our interviews, many of the firms that do not compensate producers for mentoring believe that mentoring is simply one of several “good-citizen” behaviors necessary to qualify a producer for agency leadership and/or ownership. On the other hand, 40% of firms do compensate producers for mentoring. Among those, the most common approach is to allow the mentoring producer and his/her mentee to split commissions on accounts they produce together.

How are Producers Serving as Mentors Compensated?

Other Compensation 8%

Receive Salary / Bonus 14%

Split Commissions on Accounts 18%

No Compensation 60%

Source: Supplemental survey

41 Producer Recruiting & Development Study