I'm developing an agent compensation plan for my P&C agency.
The licensed agent role compensation is as follows:
-1099 pay
-100% new business first year,
-100% new business AND 30% renewals of their sales each year following.
Is this a good plan?
Are most agents 1099? I was 1099 at another agency with 6 agents (we all were 1099)...
I'd love your input!
Oh, and how do you keep track of their renewals? Can this be done without agency management software through the carrier's websites?
The licensed agent role compensation is as follows:
-1099 pay
-100% new business first year,
-100% new business AND 30% renewals of their sales each year following.
Is this a good plan?
Are most agents 1099? I was 1099 at another agency with 6 agents (we all were 1099)...
I'd love your input!
Oh, and how do you keep track of their renewals? Can this be done without agency management software through the carrier's websites?