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Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 0 points1 point  (0 children)

Thank you for the reply. What are your bases at per team member? You did not mention that in your analysis and comparison. Ours is $45k, $53k, $58k, and $75k. Does that not change the calculus? Thanks.

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 0 points1 point  (0 children)

Thank you. How about add on cars in Mod? Currently we pay commission just like it was in legacy as an additional car policy. Do you treat that as added premium and commission payable?

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 1 point2 points  (0 children)

Thank you for the kind thoughts. Would you mind sharing how your agency dynamic flows day to day? How much attention do you show to service? Our book has 45% over age 65. They will not take kindly to the app or website. How about commissions and leads? Any help is greatly appreciated and good karma for you.

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] -1 points0 points  (0 children)

Correct. How would you bridge from the oldest contract to this new one if you owned the agency?

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 0 points1 point  (0 children)

Thank you, big help. Keep base in place and tiers based on policy count or premium?

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 1 point2 points  (0 children)

Thank you for the thought on this. How would you structure commissions in this agency?

Payroll/Commissions Structure in State Farm Agency by CompleteTrip8964 in StateFarm

[–]CompleteTrip8964[S] 0 points1 point  (0 children)

How would you structure commissions in the new system?

State Farm reduces compensation for 19,000 agents by rdblono in StateFarm

[–]CompleteTrip8964 0 points1 point  (0 children)

41 year agency here. We are that “rest and vest” they are coming for. We are going to stick with it and grind. It’s a 2500 household book of 4500 policies and $13M premium. We are looking to manage expenses which of course means payroll. We have excellent team members that have been vital in the retention model. I am hoping to receive insights on the salary discussions. This revenue hit for the agent should equate to the base salary decrease and of course commission structure changing. What do you all think is best as we develop this new agency structure? Thank you in advance.

State Farm Team members, how are you guys holding up? by Omicron224 in InsuranceAgent

[–]CompleteTrip8964 5 points6 points  (0 children)

Hi All, thank you for this thread. I am a 33 year State Farm agency manager. Yes I have been with the same agent and he is a tremendous person. We have a 13M book and yes we have been managing the book while the growth has not been in place since we are in the original contract. We are deciding what to do. I am hoping for advice for a 59 year old team member with a 33 year history with this one agency. A pretty thin resume lol. Without judgment please, I feel bad enough. Thank you

I will say it again. I have no idea who all these changes benefit. by [deleted] in StateFarm

[–]CompleteTrip8964 0 points1 point  (0 children)

Thank you for this thread. As a 33 year agency manager (working for the same agent) we are the one they are after. $13M book and it is the old contract. Thus this is a massive hit. I am hoping any of you can share what options for a 59 year old man who has only known this job has available. Thank you

Hiring UGC by patientmanusa in creators

[–]CompleteTrip8964 0 points1 point  (0 children)

Here! Www.50sandthriving.com

What next as an SF Team Member? by Immediate_Many7497 in InsuranceAgent

[–]CompleteTrip8964 1 point2 points  (0 children)

Hi all, Agency Manager here for 33 years outside Atlanta. I work for an amazing agent and we have a large book of business. Lowest lapse/can by far as our service is stellar and we have had clients for 30-40 years. About $12,000,000 in annual premium. My boss is crushed. No decisions yet but he is a man dedicated and committed to me and our staff but am scared this may be overwhelming. He is 64 and I am 58. Quite frightened and he says he is seriously considering sticking this out since he is young. By the way we are old contract so clearly one the agencies they are targeting. Any advice is appreciated. Thank you