Insurance Employee Reviews
We’re diving deep into things that can really tick off your insurance agency team, because sometimes, it can be tough to understand what’s grinding their gears. This next one has to do with insurance employee reviews.
“Inevitably people don’t always love having annual reviews, but they generally like the outcome of pay increases or feedback or understanding what kind of benefits there are.”
You might think that your team dreads insurance employee reviews, and inevitably, they probably don’t always love having them. But generally, people like the outcomes of insurance employee reviews, such as pay increases, feedback, or having a better understanding of their benefits. When agencies sweep this process under the rug, and neglect to have formal insurance employee reviews, it can hurt employees in the long run. Here’s why:
No one gets any feedback
When there’s no feedback, everybody kind of just floats along. Feedback can be both positive and negative, but without it, employees will have very little understanding of how they’re performing.
Costs increase, and so should pay
Year after year, the cost of living gets more expensive. Because of this, there should be some acknowledgement of pay increases. If there’s not, people are bound to leave in search of more money, and all around, it’s not a great feeling.
Reviews lead to career advancement
When agencies neglect formal performance reviews, there tends to also be a disregard for career advancement. For many people who want to be successful, career advancement is very important. We like to suggest that agencies set up different tiers, so that employees can always work to hit different objectives. This might mean getting different certifications, hitting different metrics, different amounts of time on the job, or something else to strive for.
While people may not inherently love performance reviews, they certainly love the outcomes of them. By formalizing your review process, your employees will be sure to expect dialogues about compensation, feedback, career advancement, and milestones.
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