SIX STEPS TO CREATING PRODUCER ACCOUNTABILITY Marsh Berry - Viewpoint Zack Pittman, Marsh Berry VP
Are you holding your producers accountable? According to MarshBerry’s 2022 Insurance Brokerage and Compensation Study – the answer is no. In 2021, roughly 75% of validated producers wrote less than $100,000 in new business.1 However, 70% of firms noted that the only recourse in their firm for not meeting sales goals was to put producers on a Performance Improvement Plan, while nearly 20% of firms reported that there were no consequences for not meeting sales goals (with the exception of eventual job loss). Firms that are evaluating producer performance, transitioning non-producing producers out of roles where they’re not successful, and reacting swiftly are more likely to reach growth goals.
