Hiring Producers

KIA

Expert
24
Hi Guys,

I just wanted to get your input and advice on how you find and hire producers.

I am looking to hire a producer with an existing book of business, but am no so sure how to go about it.

I'd even be willing to hire a CSR on salary that would service my existing book and build their own to eventually take on a full producer role, but I have no confidence that this someone will be able to achieve this.

Maybe its my inexperience in hiring producers, but all I can imagine is either the employee gets comfortable in a CSR role and doesn't produce. Or the employee isn't successful at producing and moves on to a different job resulting in a waste of time/money for me.


Any thoughts or advice would be much appreciated.

Thank you!
 
Well in MA, most agency agreements with producers include a clause that the producers book of business is their own.

There are some caveats such as, not the entire book of business may be moved in the first year after leaving, or something similar, but a producers book is generally their own here.

Ideally I'm looking for a way to find a producer who is already employed and has a BoB, but would be interested in switching over. No clue how to find these people though.

I'm also open to any all suggestions/alternatives. I have never hired a producer before (only CSRs), and am completely green when it comes to sourcing such people.

I offer outstanding commission compensation for my CSRs as well, but they usually just get comfortable in the CSR role and don't produce - which is fine, I hired them to be CSRs anyway.

If i'm to be hiring someone in a producing role that has no book of business, i have several follow up questions:

How to structure salary incentives with commission compensation to get the person to produce?

What happens if the person doesn't produce or produce effectively enough? (I don't want to hire someone, waste time and money etc, just to have to fire them a year later)

What kind of support do you offer new producers? I currently produce through referalls and within an ethnic community where I have established my name. A new producer will have no such resoures and we do not purchase leads. Should we?

I apologize in advance if any of this sounds stupid, I'm just looking for any advice I can get in finding, hiring, and maintaining a good producer.


Thanks again!
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Maybe I can make my questions simpler.


What kind of resources and support do you provide new producers to help that person obtain new business?


Thanks!
 
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I would start by asking your current CSRs if they know anyone who may be interested or asking any fellow agency owners that you know if they know of anyone. Or, take an ad out in the local paper specifically stating that you are looking for someone with a certain number of years experience. If it's common in your state to leave a company with a BoB, it would certainly be possible to hire someone through the local newspaper who has one and is looking for a new agency to work through.

Otherwise, I wouldn't start off paying a salary to a first time producer. Just give them an office space with access to the internet, phone, and mentorship through you and a decent split on the commission. If you offer a salary right off the bat, they may get comfortable with that and not be hungry enough to go out and get clients. Where I work, I'm given office space, internet, phone, mentorship and access to the office manager with a 40% commission split (50% if the commission is over $5000) and I have to generate my own leads. You'll be able to decide within the first few months whether or not this person is a go-getter and worth continuing in your office.

Good luck!:yes:
 
I would never let a producer own their book, they can buy it if they want, but it is MINE!
 
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