Having an ever-growing team of motivated agents is the ultimate dream for any agency manager. But the truth is, high turnover rates remain a key concern for most agencies. If you’re facing this challenge, consider these 5 strategies to help with your recruitment drive:
5 Ways to Attract More Insurance Recruits for Your Agency
1. Be selective with your candidates
While no specific educational background or work experience is required for someone to become an insurance agent, it’s still highly advisable to know your candidate’s history. Candidates who show a tendency to job-hop may not be a good idea if you’re looking at agent retention. You can get to know your candidates’ employment background better through platforms like LinkedIn and Jobstreet.
Implementing a minimum criteria list for your agency’s candidates sends across the message that you’re serious about developing an efficient and dynamic team. It sets your agency apart from the rest, and illustrates to candidates that they are in for a challenging yet highly rewarding experience throughout their employment at your agency.
2. Turn budget-conscious prospects into new recruits
It probably comes as no surprise that “I can’t afford it” is one of the most common answer given by prospects when they are pitched an insurance plan. When your team is met with this response, treat it as an opportunity to add a new member to the team. You already know they are facing a shortage of funds, now offer them a solution. Ask them if they would be interested to join your team and make some extra money every month.
Most will be hesitant to even consider joining at first, so you will need to ensure that every concern is addressed. Walk them through the whole process, from the trainings available to the earning potential. You could always suggest that they start on a part-time basis first – it gives them ample experience on the job, but without as much commitment as a full-time position would require.
3. Meet the needs of your current agents
If you want to attract quality recruits, you need to make sure that your current agents are well taken care of. Be a responsible mentor to your team, and ensure that necessary training and support are provided. It is important for your team to feel like they can be open and honest with you, no matter the issue.
When agencies do not take good care of their agents, it shows. Candidates can easily find out if your agency has an exceptionally high turnover rate, or if the team is unhappy with your management style – and they will most definitely think twice about joining such a team.
4. Offer a recruitment incentive for your agents
Having a strong, dedicated team of agents is beneficial to you in more ways than you know. From a recruitment point of view, you may notice that these dynamic personalities are likely to socialise with other similarly driven individuals. Tap into this opportunity by offering incentives to agents who successfully recruit their family and friends.
This recruitment strategy is likely to be more successful when you make recruiting an integral part of the team’s training sessions. Teach them the best ways to reach out to their peers.
5. Throw interesting recruitment parties
We can all admit that attending an insurance recruitment talk does not sound like a whole lot of fun. But what if your candidates were coming for a, say, coffee workshop instead? There is a real need to relook the way recruitment drives are done. Candidates today are savvy and selective, so you will need to really appeal to them if you are serious about getting them to join the team.
The best way is to offer something of value to them, which could be an event that is relevant to their interests. You can plan interesting events every month or so, from photography classes to art jam sessions, and you will most likely have better turnouts. On the event day, mingle with the attendees and find an appropriate time to talk to them about career options at your agency.
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