Excellent sales professionals are the backbone of any good insurance business. Which means you need to hire people that will stay with your business as long as possible. In the same way that it can take years to build a book of business filled with long-term customers, employee retention takes time but pays dividends for years to come.
Just like you approach a customer as an investment, your approach to hiring should be geared toward building relationships which are more valuable in the long term. Increasing your employee retention by just five percent can double your profits because of the compounding referrals-and-renewals effect.
Retention becomes more important when you consider that it can take up to two times an agent’s salary to replace them.