MANAGE & LEAD
TIME , TRAINING AND TECH : PERPETUATION PLANNING IN A PANDEMIC
By leveraging resources to ensure their agencies continue to thrive , agents can spend more time doing what matters most : advising their clients and training the next generation .
By : John Wilson
Agency perpetuation planning has never been more challenging . An increase in private equity investments and merger & acquisition activity , the rising cost of new technologies , and a new generation of workers who are less drawn to traditional careers are only some of the hurdles independent agents are facing when it comes to protecting their businesses ’ longevity .
To ensure their agencies continue to thrive — especially in a post-COVID-19 world — independent agents should look for opportunities to increase efficiencies and enhance the value they bring to their clients while also teaching new talent to do the same .
IMPROVE EFFICIENCIES TO MAXIMIZE TIME While every agency ’ s growth formula is unique , one ingredient remains constant across the board : time . Since most agents have little to spare as they work tirelessly to serve clients and prospects , they must seek ways to become more efficient .
To start , agencies should consider investing in digital tools that will help streamline their workflows . For example , look to carriers that offer innovative technologies that can make it easier to manage client accounts . These digital platforms can help improve agents ‘ productivity through features that make it easier to toggle between accounts , access important alerts , save frequently used applications , and filter through books of business .
The less time agents spend on these kinds of administrative tasks , the more mindshare they can devote to advising their clients and engaging with new business leads .
Agencies can also benefit from training that can boost productivity and help their employees collaborate more effectively , especially in a remote work environment . Many carriers offer resources geared toward helping agents make the most of their workdays — from setting up a remote workplace and leading successful remote meetings to leverage virtual communication platforms .
Efficiencies should be analyzed and improved down to the most basic level . Suppose agents create spaces that are more conducive to productive work — proper lighting , a good Wi-Fi connection , and comfortable seating — and can seamlessly interact with their coworkers . In that case , they can more efficiently take on the tasks at hand .
LEVERAGE OPPORTUNITIES TO SHOWCASE VALUE While agents and brokers need to maximize the time they can spend with clients and prospects , they must remember how they use this time matters .
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