Another insurance recruiting firm lists 14 reasons why.
- The ability to spend more time producing
- Better support
- Equity in their book or agency
- A better culture
- Specific markets or unique/exclusive programs
- Stronger payout on new or renewal business
- Opportunity to cross sell of existing accounts
- A better defined lead source
- Resources to prospect for and win larger accounts
- Their company was recently acquired or change in management structure
- Platform which will enable them to be a regional or national niche practice leader
- Not happy with direction of current firm
- Different geographic location
- Less internal competition
Some are legitimate reasons for a producer to change firms.
#10 for example.
If your producers have legitimate issues on this list, fix them.
Some are deflections or excuses for a producer NOT producing.
#8 and #14 for example.
Should you recruit new producers from other firms?
My advice: sure, steal another firm’s producer if you can.
Recognize that it’s a small talent pool.
The great ones will be hard to recruit and cost you a lot.
And, there aren’t enough great producers available.
Not enough to be the foundation of your producer recruiting strategy.
Instead, go fishing in the big ocean of great sales people in other industries to find new producers.