Brokerage hiring practices ‘troubling’

Independent insurance brokers have been struggling to hire new employees — they’ve managed just a 56% success rate over the past five years, according to Reagan Consulting. However, there’s a wide discrepancy among firms: the top 25% of firms had a success rate of 84% compared to a 22% success rate for the bottom 25% of firms.

Regan’s consulting producer recruiting and development study found that just 35% of new hires came from outside the insurance industry, including recent college graduates. Reagan Consulting President Kevin Stipe described the hiring practices over the past five years as “troubling.”