Happy Managing Ideas
Article: HS/0001 |
16 April 2012 |
Ideas that give You SHAKTI
Why Agency Recruitment?
A fundamental question that seeks a fundamental answer. The prime motivation for an agent is to earn money. The next most important reason why an agent continues in an agency career long after his monetary needs are satisfied is the recognition that comes with high performance. So the agent who has built up a sufficient base of renewal commissions will loose his motivation to get new business unless he is one of the top performers and has experienced a great deal of professional recognition that comes with top performances.
This can be seen in any agency team across the country. Corporate Club members of LIC, TOT qualifiers, etc. will continue to perform even if their financial needs are satisfied. But most others will not be keen to work hard for new business. An agent who has just joined the agency career if he has a desperate need to earn money will work hard to get new business. But an agent who has joined to try out his luck at earning money will give up after a few months.
This means…
How unit productivity drops |
||||||
1st month |
2nd month |
3rd month |
4th month |
5th month |
6th month |
|
No. of agents Recruited |
10 |
10 |
10 |
10 |
10 |
10 |
Active in market visits during the first month |
10 |
10 |
10 |
10 |
10 |
10 |
Active in market visits in the second month |
6 |
6 |
6 |
6 |
6 |
6 |
Active in market visits in the third month |
4 |
4 |
4 |
4 |
4 |
4 |
Active in market visits in the fourth month |
3 |
3 |
3 |
3 |
3 |
3 |
Active in market visits in the fifth month |
2 |
2 |
2 |
2 |
2 |
2 |
Active subsequently |
? |
? |
? |
? |
? |
? |
Typically in a 6 month period if you are recruiting 10 agents every month, with a regular drop out after each passing month you will be lucky to have 8 – 10 agents who are willing to work. While you may think that your team size is 60, your agents think otherwise. If you have been managing a team for many years and if over the period your unit productivity has not been increasing, the chances are that it is because you have not attended to recruitment activities on a daily basis.
It is for this reason that you have to recruit agents regularly. Recruiting agents is a daily activity and is not a one-time activity conducted once a year or once a month.
If every day you work to recruit new agents, over a period of 2 – 3 years you will have a team of 20 to 30 agents – all good producers. Otherwise you will have to depend on just 6 – 10 agents for the new business. And if these 6 – 10 agents in turn depend on 50 – 60 customers as their prospect base, your team performance is going to take a hit.
Decide NOW that you will work to recruit agents on a daily basis.
Happy Selling! N. Ashok Kumar ashok@insurancesales.in Mobile: +91 98 600 59 397 |
SHAKTI is an acronym denoting strength. From the SHAKTI tools of IIST you will get the strength to learn, to improve, to excel and to master the science and art of selling life insurance. The full form of SHAKTI is Skills Habits Attitude Knowledge Training Interventions. Learn the selling skills and working habits, develop an attitude to excel, and acquire the knowledge of life insurance and products. Give yourself the SHAKTI to succeed in life.
