How to Attract Millennial A-Players to Managing Insurance Commissions

Mar 21, 2020 | Blog

In the book, “Who: The A Method for Hiring,” authors Geoff Smart and Randy Street indicate that hiring A-Players is a “must” for the any successful business in current economy. Millennials make it harder then ever. As they enter the workforce, they bring new demands. They want change instead of compliance with legacy, disruption instead of monotony, personal instead of corporate, and digital instead of manual. They value the “experience” above all! They want jobs that make them happy and keep them engaged – an interesting job that makes them feel “alive” during the day – and they want it now. Can you blame them?


Commission Management Stereotype Doesn’t Align With Their Demand.

Commission management is not historically known for being this type of job. Instead, it’s perceived as “boring accounting” where your day is filled with tedious data-collection tasks, cleaning up files and reviewing thousands of line-by-line statements by hand. It focuses on the “what” and “where” of the process and is very task-oriented. Millennials have a very low tolerance for this repetitive, monotonous work.

According to the study, “Maximizing Millennials in the Workplace,” done by the UNC Kenan-Flagler Business School, “by 2020, nearly half (46 percent) of all U.S. workers will be Millennials (Lynch, 2008).” Are you ready to offer this large group of potential job applicants a commission manager position that makes a difference or a boring and tedious “accounting” job? If you’re not, you’ll be at serious risk of running out of people willing to do the job!


Can You Make Their Experience Better?

Fortunately, the days of commission managers reviewing statement after statement line after line by hand are over. A software package that allows for the highest level of automation in the industry changes this job description forever. Now, computers can do all of the tedious and repetitive work (data entry, messaging, validation, etc.) quickly and accurately and only bring attention to special cases when necessary.

For example, we have clients that have 30,000 transactions coming in every month for just one carrier! GreenWave reconciles and audits those 30,000 transactions automatically in just a few minutes and only calls the commission manager’s attention to about 100 of them.

That’s only 0.33% of transactions actually requiring human attention!

Now, commission managers can focus their attention on the likely-erroneous transactions instead of slaving over the entire 30,000. Generally, these complicated transactions require some creative work and communication with carriers – something that humans are much better at than computers!

Instead of the tedious, “what” and “where,” our commission managers can spend their time on “why” and “how” and truly be “managers.” The job is transformed into something more meaningful that emphasizes research and creativity all centered around making the commission process run.

Because of this, our client’s commission managers report that they find their job more interesting and satisfying since they started using GreenWave. They tell us that GreenWave

  • Does ten times more for them than any other system they tried before,
  • It’s critical to their day-to-day work and
  • They would never go back to the way they did it previously!

I Want That! How Do I Get Started?

Finding the right people and getting the right system should both be parts of your commission management strategy.

Here are the 2 (two) first steps on the path to effective commission management process that brings you success and helps you surround yourself with A-Players. They are these…

Step #1: Put your mind to it! This you must do on your own! Sorry, we can’t help there.

Step #2: Start moving forward! Here we can help 😊!

Click here to schedule an initial consultation – it will allow us to get a better understanding of what your business is about, what other type of challenges you’re facing and get an idea of what would be the correct ingredients for your agency’s custom “secret sauce”.

Click here to schedule a consultation

We will consult with you for