Unfortunately, The economic climate does not provide for expansion of salaries or even employment. Those that have a job should be thankful and looking for an increase is probably not going to happen. For producers at least they have the ability to give themselves a raise if they get out and hussle.
For those that do not understand, there is and always has been a supply and demand factor with employment and salaries. Right now if most agencies are getting multiple resumes from prospective employees and people are willing to work for nothing then employers are not eager to increase compensation when they can replace the employees so easily and cheaply.
Remember this when you hear the political class warfare argument that is coming in the next election. I think we can all agree that there is basic economic tenets at play, When the businesses do well the employees will do well. When the employers are doing poorly then employment and salaries are reduced or stagnant. Fact not opinion.
Thank you Jim, you are now the 1 millionth person to remind us working folk in insurance that “we should be happy we have a job and that there are 100 people standing on the door step waiting to take our jobs for less than 1/2 of what you are making.” I just hope you know that you get what you pay for.
One would think that during these times that you would look at your support staff and say, “gee, they are still providing the great service they always have, they have a great retention on their book, their customers are happy as are their producers, and they stick it out with me as a loyal employee and have not asked for much.” A loyal employee will stick it out with their employer, try everything to retain the business, even listen to stupid remarks about being happy they have a job.
During these hard times, a loyal employee hopes for only one thing. A Loyal Employer.
I can agree to saying that out of all the industries I have been associated with finding effective employees and keeping them satisfied without draining your bank account is easier said than done here in the insurance agency business.
Having survived and thrived for Forty Three years as a recruiter for brokers large and small, I can only comment on what I have been priviledged to witness. Discount my observations at your own peril.
Over the years, I’ve learned to seek to deal with brokers who treat their people well. Do they necessarily treat them well because they are simply great and wonderful people? Maybe, but most realize it’s SMART BUSINESS. Right now, there is a definate uptick in job orders coming in; I hear it from my competitor’s as well. People who have been let go and took your positions under duress… trust me, most of them are now looking.
Like it or not, these people are important. If you have recently outsourced services, you might just irritate the client enought to make it easier for your competitor to quote their business.
In short, salaries are going up as new opportunities become available.
The old adage in this business is if you want to get a decent raise then you have to change jobs. Never a pleasant prosepect.
Plus I have always loved it when the agency pricipal gets a new luxury car, takes a few nice vacations, etc. and then you hear from your boss: “no raise this year, sorry. Economics… blah blah blah…”
Tragically loyalty to your employer is no longer in the vocabulary of the working American – because none of us are foolish enough to think we are nothing more then a $$ on the payroll ledger. So everyone is out for themselves and greed eventually seeps in, maybe bend a few ethical rules and next you have a epic economic melt-down…
But i am probably just jaded by my 20+ years in the business.
Employee compensation is a rough item to handle. Salary or Hourly ? I believe in hourly payroll plus a percentage of new biz written
( mine or theirs) for my CSRs to maintain motivation through any economic situation. Raises are based on performance of duties NOT duration of employment. I am a very loyal employer as is the rest of my agency management.
I believe in working on an even field and respectfully with my work associates and they have extensive leeway in work hours, lunch hours, etc. as long as their job duties are accomplished and up to date. Your do your job, I will do mine. I don’t pay for your Facebook, Shopping, and Day-trading on my nickel ! My only rule is
“Don’t make me your “Boss” because I make irrational decisions!”
Unfortunately, The economic climate does not provide for expansion of salaries or even employment. Those that have a job should be thankful and looking for an increase is probably not going to happen. For producers at least they have the ability to give themselves a raise if they get out and hussle.
For those that do not understand, there is and always has been a supply and demand factor with employment and salaries. Right now if most agencies are getting multiple resumes from prospective employees and people are willing to work for nothing then employers are not eager to increase compensation when they can replace the employees so easily and cheaply.
Remember this when you hear the political class warfare argument that is coming in the next election. I think we can all agree that there is basic economic tenets at play, When the businesses do well the employees will do well. When the employers are doing poorly then employment and salaries are reduced or stagnant. Fact not opinion.
Thank you Jim, you are now the 1 millionth person to remind us working folk in insurance that “we should be happy we have a job and that there are 100 people standing on the door step waiting to take our jobs for less than 1/2 of what you are making.” I just hope you know that you get what you pay for.
One would think that during these times that you would look at your support staff and say, “gee, they are still providing the great service they always have, they have a great retention on their book, their customers are happy as are their producers, and they stick it out with me as a loyal employee and have not asked for much.” A loyal employee will stick it out with their employer, try everything to retain the business, even listen to stupid remarks about being happy they have a job.
During these hard times, a loyal employee hopes for only one thing. A Loyal Employer.
Jim appears to be from Walker’s administration.
I think you should replace your employees “easily and cheaply” Jim. And let us know how that works out.
I can agree to saying that out of all the industries I have been associated with finding effective employees and keeping them satisfied without draining your bank account is easier said than done here in the insurance agency business.
Having survived and thrived for Forty Three years as a recruiter for brokers large and small, I can only comment on what I have been priviledged to witness. Discount my observations at your own peril.
Over the years, I’ve learned to seek to deal with brokers who treat their people well. Do they necessarily treat them well because they are simply great and wonderful people? Maybe, but most realize it’s SMART BUSINESS. Right now, there is a definate uptick in job orders coming in; I hear it from my competitor’s as well. People who have been let go and took your positions under duress… trust me, most of them are now looking.
Like it or not, these people are important. If you have recently outsourced services, you might just irritate the client enought to make it easier for your competitor to quote their business.
In short, salaries are going up as new opportunities become available.
The old adage in this business is if you want to get a decent raise then you have to change jobs. Never a pleasant prosepect.
Plus I have always loved it when the agency pricipal gets a new luxury car, takes a few nice vacations, etc. and then you hear from your boss: “no raise this year, sorry. Economics… blah blah blah…”
Tragically loyalty to your employer is no longer in the vocabulary of the working American – because none of us are foolish enough to think we are nothing more then a $$ on the payroll ledger. So everyone is out for themselves and greed eventually seeps in, maybe bend a few ethical rules and next you have a epic economic melt-down…
But i am probably just jaded by my 20+ years in the business.
Employee compensation is a rough item to handle. Salary or Hourly ? I believe in hourly payroll plus a percentage of new biz written
( mine or theirs) for my CSRs to maintain motivation through any economic situation. Raises are based on performance of duties NOT duration of employment. I am a very loyal employer as is the rest of my agency management.
I believe in working on an even field and respectfully with my work associates and they have extensive leeway in work hours, lunch hours, etc. as long as their job duties are accomplished and up to date. Your do your job, I will do mine. I don’t pay for your Facebook, Shopping, and Day-trading on my nickel ! My only rule is
“Don’t make me your “Boss” because I make irrational decisions!”