It is unfortunate that the majority of agencies still do not have Non-Compete and Non-Piracy Agreements with producers and other key employees. Three things can happen without these agreements…and two…
An Employment Agreement protects both the employee and the agency. Owners would be wise to re-negotiate Employment Agreements with existing and/or new employees, with a legitimate form of consideration to…
This question comes up frequently with respect to payroll taxes, to benefits programs and to workers compensation rules. This is obviously an important issue, the results of which can cause state…
Many people think restrictive covenants are used primarily to restrict producers from stealing agency information. I feel it is imperative for you to have some sort of written confidentiality agreements…
During the soft market, most agents continued to grant salary increases and permitted their profits and personal incomes to erode each year. However, prudent agents implemented Incentive Compensation Programs (ICP)…
Does your agency have a formal compensation and reward system in place? Is it working the way it should? Is there a way to tie productivity and compensation together so…
Some agency owners attempt to maximize profits by minimizing producer commissions. What they don’t realize is that “sharing the wealth” with the producers who can grow the agency actually enriches…
Incentive Compensation is a compensation method in which employees achieve increased compensation (raises) for increased productivity. It teaches employees the shocking truth about growth and profitability – we can only…
When you mention employee evaluations in most insurance agencies, the owners begin to fidget, admitting that they do them sporadically, if at all. Too often, they admit that they give…
Many agencies have provided levels of financial security for their producers (owners and employees) by guaranteeing them a salary, draw (with no financial pressure for returns if not earned) or…
