If You Were To Hire

[nyc2phi]

If you were a one man shop and was looking to hire your first employee, what role would you have them fill and what would you have them do?

I am thinking about bringing someone in on a part time basis to help out and ease my self into managing someone.

Not sure if it should be more of a CSR type of role or someone to help with marketing.

Anyone have some insight?

 

[Rearden]

If you were a one man shop and was looking to hire your first employee, what role would you have them fill and what would you have them do?

I am thinking about bringing someone in on a part time basis to help out and ease my self into managing someone.

Not sure if it should be more of a CSR type of role or someone to help with marketing.

Anyone have some insight?

What two or three roles that you perform are most critical to your continued growth and profitability?

What two or three roles that you perform are easiest to outsource and train another to do?

 

[nyc2phi]

All great questions and this is exactly what I am hung up on.

I'd love to have someone in here to help with marketing and setting appointments. Telemarketing businesses, do my mailers, help me work leads, etc.

But then again a big issue of mine is servicing my book as a one man shop. Policy changes, endorsements, making sure my management system is up to date, and also someone to pick up the phone when I'm not in office.

I think the marketing would be easier to teach but just not sure which of the two is more important

 

[CaptiveGuy]

All great questions and this is exactly what I am hung up on.

I'd love to have someone in here to help with marketing and setting appointments. Telemarketing businesses, do my mailers, help me work leads, etc.

But then again a big issue of mine is servicing my book as a one man shop. Policy changes, endorsements, making sure my management system is up to date, and also someone to pick up the phone when I'm not in office.

I think the marketing would be easier to teach but just not sure which of the two is more important

My first hire was a part-time admin to process the policy changes, mortgagee updates, answer the phone, and take down quote information. This will free you up to market and quote business.

When your budget allows, get a licensed CSR to do all of those functions and also sell personal lines policies for you so you then can focus on commercial or not be tied to your office at all. You can also train the admin to take quotes and get her licensed.

I'd start with someone part time to do the remedial tasks to save money first then get them licensed and increase their pay.

 

[Rearden]

All great questions and this is exactly what I am hung up on.

I'd love to have someone in here to help with marketing and setting appointments. Telemarketing businesses, do my mailers, help me work leads, etc.

But then again a big issue of mine is servicing my book as a one man shop. Policy changes, endorsements, making sure my management system is up to date, and also someone to pick up the phone when I'm not in office.

I think the marketing would be easier to teach but just not sure which of the two is more important

I sell final expense and run an agency training final expense agents.

My three critical activities that return the greatest on my investment of time are:

1) Presenting to final expense prospects, and
2) Interacting with my agents to help them sell their final expense prospects, and,
3) Developing and implementing my agent-marketing program to generate new agents in my agency.

Every other activity I aggressively find someone else to do.

For me, appointment-setting and follow-up gets outsourced. Web design work gets outsourced (most of it at least).

Next is getting a part-time assistant to scrub, submit, and manage my new business.

My point is this; I do the activities that provide the highest return for the limited amount of time that I have. And for sales people, that usually involves selling in appointments, and for agency managers, it is finding, identifying, and nurturing the talented agents to become top producers.

 

[nyc2phi]

Seems like you both agree that delegating someone to do office type work (admin) would be the best route to go.

What kind of compensation would a part-time admin find acceptable?

Appreciate all the help.

 

[insurance1822]

I started out paying a family member $15/hour under the table to do mortgagee changes, lienholder changes, answer simple billing questions (they typically had to call the carrier for answer) and handle all my new business paperwork (mailing out forms, cancelling previous insurance etc.)

It will free you up big time. Once I hit about 600 PIF is when I kinda needed it to keep selling. Now I'm much bigger & also need to hire somebody. I just DO NOT want to deal w/ hiring, training, managing & all that crap.

I keep saying I just want to write business & not do anything else. The problem is...well....now you know!

 

[CaptiveGuy]

I started out paying a family member $15/hour under the table to do mortgagee changes, lienholder changes, answer simple billing questions (they typically had to call the carrier for answer) and handle all my new business paperwork (mailing out forms, cancelling previous insurance etc.)

It will free you up big time. Once I hit about 600 PIF is when I kinda needed it to keep selling. Now I'm much bigger & also need to hire somebody. I just DO NOT want to deal w/ hiring, training, managing & all that crap.

I keep saying I just want to write business & not do anything else. The problem is...well....now you know!

Amen, that's the worst part along with payroll taxes. Sales and growing the book is easy, the hard part is continuing to grow and managing the "owning a business" part.

Side note, Liberty Mutual terminated all of their CSRs effective April 2016 so they will be looking for work next year. Reach out to your local LM office they will be trained and ready.

 

[insurance1822]

Amen, that's the worst part along with payroll taxes. Sales and growing the book is easy, the hard part is continuing to grow and managing the "owning a business" part.

Side note, Liberty Mutual terminated all of their CSRs effective April 2016 so they will be looking for work next year. Reach out to your local LM office they will be trained and ready.

In what states?

 

[dainsuranceboy]

Hire from the local community college with someone with an Associates in Marketing.

They can do all the above and at a minimal cost. As you grow, they grow in experience and ability. Training them for the licensing isn't incredibly extensive. Start off the pay at something comparable on the low end of industry standard (so probably $11-12) and offer upon completion of licensing and 12 months of employment it'll go up to (XX per hour).

Hopefully they will become an 'office manager' type.

I'm a big believer or hiring 'interns' from the local college but I'm a rather new minted college graduate so that's why. You can pay a 10 hour a week marketing intern $9 an hour and get some good quality. Because that intern can then lead to part time work which can lead to full time.

My opinion:
- Hire CSR/Office Manager all in from the local community college or 4 year with smaller salary and after 12 months increase it substantially for loyalty but also experience they'll gain.
- Try to find a commission only producer to assist in your shop; even if its just personal lines. If they can prove they can produce (XXXX) dollars after 2 months offer them a draw/salary of 3/4 the average + commission.