Assets/BlogsRetaining the Next Generation of Insurance Talent

Retaining the Next Generation of Insurance Talent

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An increase in employee retention by only five percent could double your agency’s profits.

That’s a bold claim, but it makes sense when you consider that it takes an agent several years to develop a book of business extensive enough that renewals and referrals are coming in on a predictable basis.

As it stands, employee turnover in the insurance industry averages around 10 percent, making employee retention an important piece of the puzzle of increasing overall customer retention. In short, the longer an insurance employee works for you, the larger their book of business becomes — and the more contract renewals, customer referrals, and profits your agency sees.

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