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Just trying to gather some ideas of what others do as far as compensation packages for Producers/CSR's. I feel that the pay/compensation package that my agency offers is competitive for this area and I am trying to lean more towards commission packages for new hires. I am also considering instead of the traditional $1.00 hr raise for the salary based employees...maybe to mix things up a bit and instead of doing a raise offer a package for all CSR/Producers who are not currently commission based to get $10.00 Auto, $10.00 home...if a cross sell is made and they capture auto and home $25.00. I currently have some incentives that if they sell X number of policies than they get a bonus each week...also I will give them an hour paid time off in addition for certain policies.
What other ideas other than doing a 5% of the agencies commission or something like that. That can become a lot of work on the guy doing the commission statements. I am trying to avoid becoming payroll heavy and I would like to offer incentives to create more growth...
Just to kind of offer an idea of what I have is…
2 – Salary based employees – No commission (Paid good salaries/Health INS/ IRA/ etc.)
1 – Salary based employee (office manager) – 25% commission on Commercial Business (Paid Extremely good Salary/ Pay health INS for her and her family/IRA etc)
1 – Salary based – 25% commission on commercial Business (good salary / no health ins/IRA)
2- Commission Only Producers about 60% commission in their favor NB. 30% Renewals – both are kind of part time
2- Salary based/Commission Producers small base pays with 50% NB, 25% on Renewals
Depending on the produce the splits are a little different on the commissions but this is basically what I am offering now. What I would like to do is stop offering RAISES and find a pay for performance…Maybe set a company goal each month…
Issue X number of policies and each get a $250 bonus.
Another idea that has run across my mind is to change our health insurance plan which would save me about $600 a month to an HSA plan and give the raises as usual and let everyone know that they should contribute to their HSA plan…this kind of would be a was just about but at least they would get their raise…
Any IDEAS? Thanks for the feedback in advance…I love this forum…getting some great ideas here.
What other ideas other than doing a 5% of the agencies commission or something like that. That can become a lot of work on the guy doing the commission statements. I am trying to avoid becoming payroll heavy and I would like to offer incentives to create more growth...
Just to kind of offer an idea of what I have is…
2 – Salary based employees – No commission (Paid good salaries/Health INS/ IRA/ etc.)
1 – Salary based employee (office manager) – 25% commission on Commercial Business (Paid Extremely good Salary/ Pay health INS for her and her family/IRA etc)
1 – Salary based – 25% commission on commercial Business (good salary / no health ins/IRA)
2- Commission Only Producers about 60% commission in their favor NB. 30% Renewals – both are kind of part time
2- Salary based/Commission Producers small base pays with 50% NB, 25% on Renewals
Depending on the produce the splits are a little different on the commissions but this is basically what I am offering now. What I would like to do is stop offering RAISES and find a pay for performance…Maybe set a company goal each month…
Issue X number of policies and each get a $250 bonus.
Another idea that has run across my mind is to change our health insurance plan which would save me about $600 a month to an HSA plan and give the raises as usual and let everyone know that they should contribute to their HSA plan…this kind of would be a was just about but at least they would get their raise…
Any IDEAS? Thanks for the feedback in advance…I love this forum…getting some great ideas here.