The most valuable asset in every agency is people. And there is no question that the insurance industry is based on relationships, and the best way to have strong relationships is to have quality people representing your brand, serving your customers and shaping the culture of your agency.

Agencies that create a work environment that attracts, retains and provides a long-term career path for their people are the ones that are best positioned for the future. Those agencies will grow, scale and increase in value.

Every agency should ask themselves, “Is my organization attracting talent?" But to answer this question, agencies need to understand the needs and wants of their workforce, and what is needed to create an environment where employees are engaged, happy and productive.

Here are five key areas to consider:

1) Strong culture. Everyone has a desire to feel valued. Creating a culture that demonstrates that you care about staff is critical. This can be achieved by listening, understanding and acting. By taking action to solve the challenges your team faces in their day-to-day work environment, you demonstrate that you care.

2) Flexible work environment. Over the past three years, we have clearly demonstrated that work can be achieved remotely. Organizations that embrace a flexible work environment and are positioned to accommodate in-person work, remote work and hybrid roles are the ones that can attract talent and begin to reshape their environment. It also reinforces that you value what's most important to them and can balance it with the needs of the agency.

3) Onboarding and training. Agencies that have created a well-oiled machine for key processes are positioned to provide stability to their employees. This can be achieved with a strong onboarding process that includes a training program, a mentor and prior investment in documenting processes. Training on your systems and processes should never stop and should be viewed as an ongoing and evolving task.

4) Data and technology. Speaking of training, agencies that invest in ongoing training on new technology are better positioned to provide an environment where their employees can succeed. However, be thoughtful in your approach to deploying technology by defining the goals and objectives of the tool, setting clear expectations on the time it will take to implement and realize the stated results, and involving the entire team in the process.

5) Expertise and growth. Agencies that invest in their employees' growth and future are more likely to retain talent. One way to invest in your employees may include supporting them as they obtain a professional designation. For example, the National Alliance for Insurance Education & Research provides several designation options, including Certified Insurance Counselor (CIC). Employees that complete this designation become part of an elite group of insurance professionals viewed as experts by their clients and peers. This translates to higher revenue opportunities and greater efficiency across different levels of the agency, which will increase growth and profitability. 

Carey Wallace is owner of Agency Focus.