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Management Fast Start System

Management Fast Start System. Manage Your Bonus Every Day. What does it cost your Branch when an Agent misses a 40% bonus?. What does it cost your Branch when an Agent misses a 40% bonus?. When an Agent fails to submit the required Annual Premium, the Bonus % drops to 0.

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Management Fast Start System

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  1. Management Fast Start System Manage Your Bonus Every Day

  2. What does it cost your Branch when an Agent misses a 40% bonus?

  3. What does it cost your Branch when an Agent misses a 40% bonus? When an Agent fails to submit the required Annual Premium, the Bonus % drops to 0. Then, the Agent must rebuild to the top tier by submitting the required Annual Premium each week.

  4. Example: New Agent Joe Average For the first two months, Joe has consistently submitted $1,000 AP or more each week. His Production Bonus percentage is 40% and his bonus earned is $400 or more per week.

  5. Example: Joe Average Because of Joe’s success, no one in management has been keeping up with Joe’s Activity or Production. According to his Manager he has “earned the right to be left alone.” Joe got caught up in the whirlwind this particular week. His UM and BM failed to supervise his activity, and Joe fell short by submitting only $800 AP, missing his $900 submit requirement.

  6. How much does this cost the Branch?

  7. Example: Lost Earnings Total Lost Earnings: $2,000.00

  8. Lost Earnings In our example: The Agent loses $1,000 of earnings. The Unit Manager loses $600 of earnings. The Branch Manager loses $400 of earnings. The $200 shortfall in production that one week cost the Branch $2,000 of earnings. If this happens to one Agent per week, because there is not a system to manage activity, it will cost the Branch $104,000 in earnings per year. $2,000 x 52 = $104,000.

  9. The Most Common Bonus Mistakes Not managing activity to levels that virtually guarantee sales and bonus success. Not having an Agent Bonus Scoreboard. Not updating the board daily. Not acting early to direct those Agents who are off track.

  10. Franklin Covey taught us that our Scoreboard will only be compelling if: • It is Motivating • It is Simple - we can tell in 5 seconds all we need to know • It is Updateable - we can update it easily • It is Complete • It is Accessible - Management and Agents can see it easily and often

  11. Bonus Qualifiers

  12. Bonus Qualifiers

  13. Bonus Qualifiers

  14. Bonus Qualifiers

  15. Bonus Qualifiers

  16. What will be the norm in your Branch? Failure? Or Success?

  17. Success is a choice! Success • Systems – Standard Operating Procedures in place • Standards for professional pride – Desire to stay on the team and meet the requirements Failure • Reactionary management rules – No Real Systems in place • Only company minimums – Anyone can be a part of the team

  18. Questions?

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