Much like other industries, insurance companies are dealing with the difficulty of finding and keeping good talent, especially in entry-level positions. New employees are more inclined to fight for perks, higher pay, and schedule flexibility. Your managers and supervisors are spending their time recruiting, interviewing, and training new talent. Not to mention, that new hire wants to advance in their career, either within your company or by accepting a higher position in another company, leaving your management team to rinse and repeat for these low yield positions.
With rising costs, how can you save money while resuming business growth? Your business requires a creative solution!
Outsourcing is a great option for the insurance industry because it fills the entry level positions required for the business to function while simultaneously making your core staff more productive. Outsourcing allows your licensed staff to focus on what they do best while freeing up their time and adding flexibility back to their day. From back-office and customer service to marketing, IT, accounting and legal support, your business can continue to grow without taking a disproportional hit in cost.
Outsourcing doesn’t just save you money in terms of wages, it also takes the people management side of hiring off your plate. The cost of an in-house employee far exceeds that of just their wages. By outsourcing, you are also turning over the responsibility of management, human resources, and the required technology and facilities cost for each employee.
You have big plans for your insurance company but building the support you need to facilitate those ideas in a traditional way can take time, leaving money on the table. With the ability to automate tasks in a way you may not have been able to previously, not only will your current procedures begin to run smoother than you imagined they ever would, but you now have the room to implement new procedures and test new processes and systems.
When your in-house staff has repetitive tasks automated for them, it allows them to not only be more productive, but gives them more flexibility in their jobs. Having back-office support available to your licensed team can improve team satisfaction and make it easier to hold onto your best talent.
Companies in the insurance industry have great potential to prosper but are not able to do so if they do not have the proper people power to support their growth. Staff Boom provides insurance outsourcing services to Insurance Agents and Brokers, Wholesale Brokers, Managing General Agents and Insurance Carriers, and Claims Administrators with unique insights learned from years of collective experience and knowledge.
Get in touch with us or have a chat with one of our outsourcing specialists who are more than happy to help you.