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Brokerage overhauls wage structure

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Insurance Business | 26 Oct 2012, 12:03 AM Agree 0
One of Australia’s biggest insurance brokerages has launched a broker incentive program to reward and retain high performers and attract new staff. Will this change how brokers are paid across the industry?
  • Karl | 26 Oct 2012, 10:56 AM Agree 0
    Nice try but not that generous. The time frame of 5 years is far too long in a world of short term gain seeking.

  • Koert | 26 Oct 2012, 11:49 AM Agree 0
    An interesting incentive scheme and one that i believe may influence retention of quality sales people.

    Whilst most sales peole will work hard towards growth and profitability, any additional revenue is always a bonus.

    In relation to additional small criteria Im not sure what it may be but i would stab at a guess it may include retention, profitability and yield

    Perhaps the five year time frame can be adjusted to pay 50% of any calculated bonus each year with the final adjustment payable in year five.

    whatever the rules, any incentive scheme is better than none at all.

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