The growth of a successful insurance agency depends on the efforts of high-quality, productive insurance agents that have the ability to win over new customers while still supporting your existing customers. But how do you find and hire insurance agents for your agency? Should you rely on insurance recruiting agencies or take on the challenge yourself? When you find potential agents, how do you know which ones are going to be able to take your business to the next level?
Why recruit insurance agents?
Recruiting insurance agents is the key to building a successful agency. Every quality insurance agent you recruit helps to boost your agency’s selling capacity. As a top producer, you are limited to how many people you can actually meet with and close a deal with on a daily basis. By recruiting high-quality and productive insurance agents and adding them to your team, you can increase your selling capacity exponentially, growing your agency much quicker.
What to look for in an insurance agent?
As you begin your insurance agent recruitment process, you must understand what your agency needs in terms of an agent and what skill sets agents will need to meet those goals. Here we take a look at some of the top insurance qualities and skill sets you may want to consider.
The insurance industry is all about sales and closing the deal, so it is essential that any insurance agency recruits have a strong history of sales and business experience. While a history of selling insurance may be beneficial, it is much easier to teach the ins and outs of the insurance industry to someone that already has a proven track record in sales.
The insurance industry is all about selling trust and building relationships with your clients. Success in this industry relies on an honest character and being open with clients to help establish long-lasting relationships that, in the end, will create the backbone of your business.
Able to handle rejection
In the insurance industry, every agent is going to hear the word “no” regularly. Good agents will have the ability to handle this rejection with a positive attitude and move on to the next lead without skipping a beat.
When looking for a top agent, you want to find someone that isn’t willing to settle for the bare minimum but rather a go-getter that works hard to meet goals, both personal and agency-specific.
An agency sees the greatest success when its agents work together as a team. You want to find agents that are willing to collaborate and work with other agents to meet the goals of your agency.
Where to find potential hires
College campuses and insurance licensing schools
Online job sites
Tips for retaining agents
1. Recognize top employees
Employees who know they are valued are often more motivated to perform for their company, as well as less likely to look for other employment opportunities. Recognizing top performers, whether through awards, promotions, or pay raises, shows them how important they are to your business.
2. Fair compensation and incentives
Offering new agents average or above average wages from the start and awarding them with raises when they are merited is an important factor when it comes to retaining top agents. If their efforts are above and beyond what you expected, rewarding them with a raise, without them asking for it, will go a long way. In addition, offering occasional incentives can help to motivate agents to increase productivity and reach specific sales goals.
3. Supply agents with quality leads
4. Offer flexible work schedule
5. Have an open-door policy
Build your business with the right agents
Insurance agent recruitment can seem like a challenge, and you may not hit the mark the first time out. Chances are you may hire the wrong agents in the beginning, but as you grow and learn, you will quickly be able to determine which agents will truly fit your team and agency.
As you grow your agency and add more and more agents, adding a quality customer relationship management (CRM) platform can help you better manage your leads and customers, while also making team collaboration easier. At Better Agency, our CRM fits the insurance industry because former insurance agents designed it. To learn how we can help, schedule a call with us today!