More about finding and keeping great employees.

People do things for their own reason. I never run out of opportunities to remind myself and others that this is true. Frustrated business owners tell me, "My staff just doesn't care."  The unstated part of that is "...about my business the way I care about my business."  Well, of course not. But there are things they care about. Plugging into those things is how you keep people engaged. I'm not talking about personal things. Most employees don't expect the boss to try to solve their personal problems. I am talking about the kind of things that make work feel like accomplishment. From BNET, here's a neat little story that makes a BIG point about what motivates people. 

Planning for Improvement

If you and your team are hunkered down waiting for the market or the economy to turn around, you may have a long wait. Now is the time to look for opportunities. You can have your best year ever! 

Focus! Focus! Focus!  Plans often fail because too many issues are addressed at one time, not because there is anything inherently wrong with them. How does the coyote eat the buffalo? One bite at a time! There is always a lot to do. So to ensure that you and your team stay focused, identify those things that are imperative to fulfilling the vision of your business. Ask, “What conditions must exist for us to be who and where we want to be?” Think in terms of necessary and sufficient. Concentrate your efforts on the most important issues or Critical Success Factors. Tackling your goals one at a time, you will find your business plans much easier to achieve. 

For most businesses, Critical Success Factors center around people and product. What about your organization – your staff – is critical to your success? What must they be able to do well to ensure your competitive advantage? What about your customers is critical to your success? What are their expectations and how can you exceed them? What about your product/service is critical to your success?  If insurance is just another commodity, what sets you apart? A clear understanding of what is most important makes it possible to set realistic, achievable, smarter goals.

Success breeds success. Improvement generates more improvement. With every achieved goal, your (and your team’s) confidence grows. These incremental successes will inspire and encourage you and your team. You have the knowledge, experience, drive and enthusiasm to achieve your vision. You can have your best year ever!

Finding & Keeping Great Employees

Is it a buyer’s market for employers when unemployment is in the double-digits?  Is finding and keeping the best employees easier when so many people are feeling vulnerable? No. And no. 

Challenge the assumptions. Now more than ever, it’s important to take good care of your employees. You might be working with fewer numbers, so your team needs to cover more territory. If somebody leaves, you want it to be the right people who stay. 

At bare minimum, to engage your employees in your business, you need to ensure your employees have meaningful work to do, and a vision for how that work fits into their world in a meaningful way. Good employees also need the tools to do the job, which includes more than just hardware and software. And good employees expect and deserve respect. 

Of course, you need to pay a fair wage. Don’t assume that you’ll be able to hire quality people for below-market salaries. Don't expect your best employees to help you achieve your financial goals if you're unwilling to help them achieve theirs. It's disrespectful. But it’s not just about the money. Take this fun quiz to discover what is important to your employees. 

Don’t get lazy.  If you are in a position to hire, does this seeming employee glut turn into a bonanza of qualified help for you? No. And no. The best and the brightest were not the ones downsized. So it will still be challenging to find the best qualified people the personality and skill sets to fit into your culture. If you are looking to hire, you’re going to have to put forth the same sincere and diligent effort you always have to find the right individuals.

Again, challenge the assumptions. Individuals who have performed marginally in other organizations will most likely be marginal in yours. Assuming retreads have the experience and job knowledge you need is a mistake. Now may be the right time to look outside the industry for your next producer or account manager. “Hire for fit and train for job knowledge,” is solid hiring advice. All the insurance knowledge in the world doesn’t ensure sales from someone without the fire to sell, or quality customer service without a customer orientation. Sales and customer service are required in most industries. So you may be able to take advantage of the fact that there are good people looking for work. It’s not a buyer’s market, though. Finding and keeping great employees presents the same challenges – and provides the same rewards – regardless of the market or the economy.

Sales and Growth

Let’s talk about what’s keeping you up at night.

 "This agency is not growing and it’s because the producers aren’t selling. How do I motivate the sales team to sell."

You may need to ask and answer some difficult questions about the individuals you call producers and the team you call a sales team.

?         Is each producer’s individual book of business profitable, including expenses associated with servicing the book as well as sales expense and compensation? If not, why not?

?         Are you organized for growth? How much sales support do producers have, e.g., carrier marketing, proposal generation? How involved in renewal processing are the producers?

?         Does technology support the sales process as well as customer service and accounting?

The answers to these questions may help you identify obstacles to sales. Also look at the culture of your agency. Is “sales” even a word you and your staff use? Is everyone in your agency on the “sales team?” 

Take a critical look at your sales team. Identify changes that will get everyone working to increase sales, not just producers.

 

Critical Success Factors

Want to drive success in your business? Focus your energy and your resources on those things that are the most important. Sure, you'll have to deal with a lot of urgent activities that don't contribute significantly to the achievement of your goals. Don't let the urgent get in the way of the important, however. If you're only working in your business, and never on your business, you are far less likely to take your business to the next level.

Setting Goals for 2011

I’m leading an ExecSense webinar on Wednesday January 5th on “Best Practices for Establishing 2011 Goals for Your Team as an Insurance Executive: Case Studies of Goals, Benchmarks, Tips & Techniques Set by Other Insurance Executives”, you can get more information at http://bit.ly/ePtXYR

Growing in a slow economy

Let's talk about what's keeping you up at night.

"Commercial revenues are down because of the economy and the soft market. Revenues are flat and it doesn't look like there is much improvement expected any time soon. How do I grow in commercial lines when business is contracting, not expanding?"

There are no easy answers because so much depends on the strategic decisions
you've made until now. But start by looking at your customers.

There is always tension between specialization - niche marketing - and
differentiation. It's risky to have all your eggs in one market basket. On the
other hand, we know that being an expert in your customer's business adds
value.

So make sure you're an expert. And make sure you're an adviser. Sell your
expertise, not your ability to shop a policy across a large number of carriers.
This not only sets you apart from the competition but also mitigates the price
shopping that is part of every insurance buyer's instinct.

Being an expert also helps you cover all risks for every client. Personal lines
as well as business insurance. Life insurance to protect both their families
and their businesses. Benefits to cover employees. There is a lot of
uncertainty right now, which means there is a lot of opportunity. Look at your
customers' needs creatively and fearlessly.

Begin a review of clients to identify opportunities for additional sales.
Follow through with letters, calls and visits!

Need help growing in a slow economy?
Let's have a conversation. No strings, no charge.
Call 530-295-1083 or send me an email.