AGENCY MANAGEMENT
IS YOUR AGENCY HEALTHY? It’s a new year. Time to get your annual checkup, refresh those goals and get to work. You know what I’m talking about. While it looks a bit different for everyone it follows a common theme for most of us. This annual ritual may include dusting off that gym membership, delivery of that new Peloton bike, compiling an ambitious reading list using the countless recommendations of others, finalizing travel plans or being intentional about time spent with family. You may choose to give up all alcohol consumption and adopt a diet or a new way of eating. There is no evidence of any holiday sweets, and the fridge is filled with salads, lean meats and fresh fruits. What does this process look like when it comes to your agency? Are you as intentional about planning for success in that part of your life? Unfortunately, for many planning for success in their agency can be overlooked. There is a reason we have a common saying encouraging all to work on their business not just in their business. Here are some ways to make sure that your agency is off to a strong and healthy start in the new year. Business Plan If your agency has a business plan – dust it off and read it again. Review the goals that you set for your agency. Take time to reflect on the goals that you set for last year and how you performed as a team. Identify the areas where you excelled and the areas you missed. Use that reflection to set new goals for the coming year. Make sure the goals that you set are SMART goals. 28 | FEBRUARY 2022 |
wisconsin INDEPENDENT AGENT
(Specific Measurable Attainable Relevant and have a defined Timeframe. Some of the best goals are the ones that are developed together so consider involving your team in the process. A goal that has buy in is much more likely to be obtained. Review Policies & Agreements Make sure that the written policies match the practice inside your agency. It is easy to make changes as your agency grows and changes – especially over the past two years. Take time to update the policies that are in place to ensure that they algin with your current practices. In almost every agency adjustment were made to accommodate remote work, flexible hours and time off due to illness and quarantine requirement. Do your written policies reflect these changes? Keeping these policies up to date will protect you and your agency. You should also review your operational policies and update them with any changes. This will help with training and consistency in practice inside your agency. Lastly, take a moment to review the agreements that you have in place with your staff. Have you protected your agency by putting non-compete, non-piracy agreements in place? If not, you need to work with a HR professional to get the appropriate agreements in place. Corporate Agreements These are the agreements that were developed many, many years ago and often times these agreements have never been revisited again. These documents include by-Laws, Operating Agreements, Shareholder Agreements and are
