Recently, a major US insurance broker with 20,000 agents started to question why so many were leaving the company—and taking their business books with them. The answer lay in the data about reward. It turned out the company was significantly out of touch with what people wanted. The company’s employee preference surveys had not been translated into the type of benefits it was offering. Based on the new analysis, the company redesigned its performance-based compensation, reduced equity awards, improved supplemental healthcare, and implemented a personalized training and development portal. The result: increases in agent sales performance (of 5 to 20%), engagement ( …
