Agency owners: Are you loyal to your producers?
Author: Loren Levitan - Licensed Producer
Publication Date: March 1, 2017
These days there is so much competitive pressure. Producers are often taking the heat for low conversions and an ever-dwindling book of business. Whether it is industry trends, the economy, or just a lack of enthusiasm, for some reason new customers are not being brought on. According to Leigh Branham, owner of Keeping The People Inc., an Overland Park, Kan., human resources consulting firm. “Employees are testing you to see how loyal you are to them, to decide if they’re going to stay.” We usually think of loyalty as it pertains to the customer, but how engaged you are with your producers directly influence how they engage with their customers.
In many cases, producers may not be getting the support or resources they need to perform at their highest levels. But often, the tools are there but the lack of recognition, both financially and emotionally, takes a greater toll on productivity. So, many agencies are looking for new and innovative ways to bring up the moral of their producers and let them know that they are appreciated, which helps increase their productivity and their moral. According to an article in Inc. Magazine, 9 Simple Ways You Can Make Your Employees Happy, gratitude and appreciation on an ongoing basis are one of the many ways to motivate and increase productivity. Gratitude and appreciation is a clear demonstration of loyalty in the minds of producers. According to Deloitte: Talent 2020, one of the top 5 retention incentives is support and recognition from supervisors or managers.
But how do you show support and recognize producers in such a way that is consistent, valuable, and does not take ongoing effort on your part? After all, as an agency owner, you’re busy and time is a precious as gold. Well, there are answers out there. Companies like MyStaffPrivileges.com have developed an easy and, more importantly, cost-effective way to reward and incentivize producers in and out of the office. MyStaffPrivileges.com has discovered that if you help producers in their everyday lives with everyday matters that are of great concern to them, their gratitude has no bounds and they start to perform at a higher level.
So, how does MyStaffPrivileges.com provide this ongoing show of gratitude and motivation? They do this by curating a group of exclusive, high-value benefits and bundle them together at a price which costs pennies per hour per employee but provides thousands in value. Here is an example of the types of benefits and value they provide.
- Telemedicine full-family coverage and no co-pays or deductibles
- $25 Restaurant.com Gift Card every month
- Full Family Legal Protection Plan – covered services and plan discounts
- Roadside Assistance for the Entire Family
- Home buyer/seller rebate – 20% rebate in broker’s commission when you buy or sell or both
- 3 Free Magazine Subscriptions a year and media center
MyStaffPrivileges.com provides these benefits at a cost which cannot be found in the open market and by bundling them together and not making you sign up for each one individually, they provide a valuable reward, incentive and show of gratitude to your producers. This package is only available for licensed professionals.
For more information click here.