20% increase in monthly goals effective July 1st.
15 replies (most recent on top)
@fwbr+1sQvkurq- shame on you for speaking the truth. Facts have no place on this board!
The 20% increase is the goal for agents to qualify for the monthly variable compensation bonus payout. It has nothing to do with being terminated if you don’t hit it, it basically means you’ll receive a reduction in that month’s commission if you don’t achieve it. Apparently, a higher percentage of agents (rumor is 70%) were hitting this goal relative to what the company projected, so it’s being increased to also reflect the loosening of underwriting guidelines for new business.
Wrong !!
To the OP question. The increase is for a select set of newer agencies and not all EA offices.
Where are you getting this 20% increase in goals? We were given our new minimum and the number to hit variable. Example: If your minimum is 15 line 10 auto and they raise it 20% you will need 18. If your variable was 30 and it is raised 20% you need 26. If you have a solid book and are keeping retention high and writing the minimum and hitting variable, this isn't as dramatic as the post appears. I'm not saying EA is not an endangered species but this 20% is certainly not the end of the world. Recently states that had 24 months minimum prior were reduced to 12 months. during the pandemic, Allstate also let us write no prior if there was no need and no lapse.
Right, not employees. But AS often oversteps the line in trying to control agents like they are employees. There are laws when it comes to demanding quotas, hours worked, and more that AS should not be doing but will do knowing that agents don't have the resources, unity, or understanding to push back.
It goes much deeper, especially given how difficult it is to "just walk away" from a career that takes decades to build into something worthwhile and be given the prospect of restarting it all from scratch. AS leverages that reality as you would expect.
Agents are not Allstate employees.... They are the captain of their ship. They can leave anytime they wish.
@1btb+1sQvkurq Independent agencies are closing left and right too, there are none in the small city I live in and the city next to me has had half of them close. A few others sold to the larger independent companies but they are having trouble keeping staff.
1btb+1sQvkurq- people have been saying the agent’s position is obsolete for 20 years. While there are fewer than in the past, the ones who want to work and run their business like a business will have an opportunity for many more years. Too many agents buy into the business thinking that they have a money machine. Most people outside of sales don’t have a clue how hard the successful agents work. All they see are the nice trips and above average lifestyles. I’m all for agents making as much as they can
Sad for these agents who think they are business owners. Allstate owns you. Go independent. They can’t really touch you then. Allstate is working night and day to get rid of the exclusive channel. You guys are not the future state. If you can find a fool to buy your book, sell now before it’s stolen from you by corporate.
The name of the game in sales is sales. I always laugh when everyone is up in arms about requiring agents to go after new business. Let’s be clear- that’s what keeps the company in business. It’s not claims, legal, marketing or any of the other cling on departments who frequent this site with a bunch of whining about things completely out of their control. The worst thing that could happen to an agent who writes more business is that they get paid more. In my book that is a pretty good proposition.
Timeline?
Look around, the agency model is almost dead and will be soon.
Insurance companies would love to reduce the 8 cent on the dollar expense if they could duplicate it via Pune call centers or AI.
GEICO and Progressive are running laps around AS with their expense ratios and can utilize that advantage to grow as they please.
Yep - probably a good bit of truth in that first response. Fewer but larger agencies that are nothing but new business quoting "sweat shops". No thanks...
Big Blue is going to try to eliminate as many exclusive agents as they can for "cause" as soon as they can. Then they can sweep in and gobble up all the books of business without offering a penny of compensation due to not meeting contractual obligations. Kind of like they strung up corporate employees with unreachable and unattainable goals so they could put on UN's and eventually term for cause. No severance that way.
It is the exclusive agencies' turn for Transformative Growth.