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Accelerating Change. Engaging Staff.
Infinite Software Solutions.
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“Engaged employees are not just committed. They are not just passionate or proud. They have a line-of-sight on their own future and on the organization’s mission and goals. They are ‘enthused’ and ‘in gear’ using their talents and discretionary effort to make a difference in their employer’s quest for sustainable business success. I’ve never had control and I never wanted it. If you create an environment where people truly participate, you don’t need control. They know what needs to be done and they do it.”
Herb Kelleher, Southwest Airlines

Got Questions? Let's Talk!

We offer a complimentary assessment of your current compensation plan.

Frequently Asked Questions

Why can't I just keep my existing compensation plan?

The most important reason is that traditional methods of compensation will always remain an expense, with limited ways to measure profitability.  As a result, staff is unmotivated because they lack a way to achieve higher income levels.  Management must wait until the end of the year to determine if they have received sufficient benefits from their compensation plan.

The lack of increased income potential and objective, professional work environment will also limit the quality of top performers willing to join the organization.

How much time does it take?

How much time will Performance Based Compensation require from owners and management?

Symphony is a "staff driven" system. Once the compensation plan is implemented, Staff is responsible for tracking their achievements.  Management's responsibility is to monitor, coach and guide each individual to success.

Does the system integrate with my agency management system?

Symphony provides a function to import a csv file exported from your agency management system. Activity Codes are assigned in Symphony which are used to import the achievements. 

How will potential new hires respond to a performance based approach to compensation?

The most significant and noticeable impact of Performance Based Compensation on the hiring process is the ability to identify and attract top performers and weed out prospective hires who are not a good fit for how you do business.

Can bonus and incentive programs still be used?

On their own, bonuses typically are not successful for two reasons:

    • They become entitlements which are seen as part of annual compensation.
    • They reward individuals who do not do their job in the same way as people who successfully complete their job responsibilities.

The Performance Based Compensation approach results in a Performance Evaluation Score that can also be used to offer annual bonuses that are directly affected by how well each person does their job.  Most often, the bonus is taken from contingencies, but can be based on any standard of profitability

Will staff push-back?

Staff’s response to change is directly related to how change is presented to them.  When individuals clearly understand how change benefits their lives, resistance is significantly reduced.  Staff who resist all change, even beneficial change, most often view income as an entitlement and simply do not responsibility for their actions to impact their income.

To significantly reduce pushback here is how we recommend  Performance Based Compensation is introduced to staff:

“I want to apologize to our staff.  As owner or management, I have failed to provide each of you with two critical tools for growing personally and professionally in your job.  First, we have asked each of you to hit a bulls-eye without giving you a target.  In other words, we have not provided you with a clear path to pursuing and recognizing your success as an insurance professional.

Second, the current economy has meant that we have been unable to offer each of you the opportunity for increased income as we grow.  Very simply, the shaky economy has meant we could not afford to take risks because we have no idea what the economy will do next.
In order to correct our oversight, we made a commitment to look for resources that allow us to provide you with a way to pursue your success as well as look forward to increased income.  We discovered a performance based approach to compensation and we are very excited to announce that we will begin the transition process soon.”

This is a proven approach to change which the majority of staff will welcome and support.

Can Performance Based Compensation work for non-sales related staff?

The system is specifically designed for any type of staff. Every job involves repeatable behaviors that are foundational to success in the position. 
It is usually an easy adjustment assigning behaviors such as Referrals, Annual Reviews, Average Policy Count, etc. to licensed staff who interact with your customers.  Performance Based Compensation allows you to assign these behaviors as KPIs (Key Performance Indicators) which can be objectively measured and rewarded. 

However, positions such as Receptionist, Accounting and Processors sometimes require more thought.  Here are some examples:

  • Receptionist
    • Collecting email addresses
    • Scheduling annual reviews for licensed staff
    • Attendance
    • Peer Evaluation
    • Compliance with standards for appearance, following procedures and documenting phone calls.
  • Accounting
    • Attendance
    • Compliance with standards for how accounting actions are handled.
    • Standards for keeping accounts receivable up to date
    • Peer Evaluation
  • Processor
    • Attendance
    • Peer Evaluation
    • Compliance with standards for documenting customer service activities, processing in a timely manner and accuracy in processing customer service requests

Catalyst is a software company providing technology, training and resources to the insurance industry

6255 Frisco Square Blvd. #1233 Frisco, TX 75034     972-961-4798