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Market Center Health

Market Center Health. Retention Vital Signs. Mike Bastian. Mike Bastian. Austin , TX KW MAPS Leadership Coach KWU International Master Faculty. Please complete an evaluation form found in the back of your program guide . Vital Signs. What Are Vital Signs?

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Market Center Health

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  1. Market Center Health Retention Vital Signs Mike Bastian

  2. Mike Bastian Austin, TX KW MAPS Leadership Coach KWU International Master Faculty Market Center Health – Retention Vital Signs

  3. Please complete an evaluation formfound in the back of your program guide. Market Center Health – Retention Vital Signs

  4. Vital Signs • What Are Vital Signs? • The Impact on Market Center Wellness • Vital Sign Examples • Green, Yellow, Red Market Center Health – Retention Vital Signs

  5. What Are Vital Signs? • Think of going to the doctor’s office. • What does the doctor do first? Market Center Health – Retention Vital Signs

  6. What Are Vital Signs? • Symptoms • Reads your Vital Signs. • Asks you questions. Diagnosis Prescription • As Dianna says: Prescription without diagnosis is malpractice! Market Center Health – Retention Vital Signs

  7. What Are Vital Signs? • Vital Signs are measures of various statistics and metrics to determine the wellness of the entity. • In other words … they are the symptoms you can physically observe! Market Center Health – Retention Vital Signs

  8. What Are Vital Signs? • Leading Indicators (or Measures): • Predictive • Influenceable • Lagging Indicators (or Measures): • Measure progress toward the goal Market Center Health – Retention Vital Signs

  9. What Are Vital Signs? • Example • What are the Vital Signs? • Leading? • Lagging? Market Center Health – Retention Vital Signs

  10. The Impact on Market Center Wellness • The effect on retention and attrition • What causes agents to leave your Market Center? • Retention – Why? • Attrition – Why? Market Center Health – Retention Vital Signs

  11. Vital Sign Examples • Contributing Agents • % Cappers • Contributing Agent Growth • % Market Center Productivity – Contracts • % Market Center Productivity – Listings • % Listing Income • Company Dollar (Co.$) per Contributing Agent • Co.$ % of GCI • Expenses as % of Co.$ • Other Outside Income as % of Co.$ Market Center Health – Retention Vital Signs

  12. Market Center Health – Retention Vital Signs

  13. Green, Yellow, Red Market Center Health – Retention Vital Signs

  14. Vital Sign Examples • Vital Sign 1: Percentage of Agents Writing Contracts • Vital Sign 2: Company Dollar as a Percentage of GCI • Vital Sign 3: Team Meeting Attendance Market Center Health – Retention Vital Signs

  15. Vital Sign 1:Percentage of Agents Writing Contracts Market Center Health – Retention Vital Signs

  16. Percentage of Agents Writing Contracts • Definition • The percentage of the Contributing Agent Base who have written a contract in the most recently transmitted month. • What is a Contributing Agent? Market Center Health – Retention Vital Signs

  17. Percentage of Agents Writing Contracts • Definition • This number can be drawn from the Multi-Year Trend Report on myKW, listed as “Productivity base written percent.” • A lower number suggests that fewer agents are in productivity, and that less-productive months are ahead. Market Center Health – Retention Vital Signs

  18. Percentage of Agents Writing Contracts Market Center Health – Retention Vital Signs

  19. Percentage of Agents Writing Contracts Example Market Center Health – Retention Vital Signs

  20. Vital Sign 2:Company Dollar as a Percentage of GCI Market Center Health – Retention Vital Signs

  21. Company Dollar as a Percentage of GCI • Definition • It is determined by dividing Company Dollar by total GCI. • It indicates whether the majority of Company Dollar is being provided by non-cappers or Cappers. Market Center Health – Retention Vital Signs

  22. Company Dollar as a Percentage of GCI Agent Gets a Commission Check – $5,000 GCI Split 70% / 30% COS%GCI Co$%GCI Money $3,500 / $1,500 COS Co$ Market Center Health – Retention Vital Signs

  23. Company Dollar as a Percentage of GCI • Definition • Thus Co$/GCI can range between roughly 5 percent (meaning all production was done by high-performing Cappers) to 30 percent. • The lower Co$/GCI is, the less production is being done by non-cappers, and the more likely those non-cappers are to walk out the door 60 to 90 days later. Market Center Health – Retention Vital Signs

  24. Company Dollar as a Percentage of GCI Market Center Health – Retention Vital Signs

  25. Company Dollar as a Percentage of GCI • Example: • Your agents are all on a 70/30 split. • When Co$% GCI = 15% • 15 ÷ 30 = .50 (50%) • So 50% of the GCI for the month is going to non-cappers. Market Center Health – Retention Vital Signs

  26. Company Dollar as a Percentage of GCI • Example: • Your agents are all on a 70/30 split. • When Co$% GCI = 20% • 20 ÷ 30 = .67 (67%) • So 67% of the GCI for the month is going to non-cappers. Market Center Health – Retention Vital Signs

  27. Vital Sign 3:Team Meeting Attendance Market Center Health – Retention Vital Signs

  28. Team Meeting Attendance • Definition • It is the percentage of active agents attending your meetings. • It measures Market Center participation. Attendance ÷ Contributing Agents = Team Meeting Attendance Market Center Health – Retention Vital Signs

  29. Team Meeting Attendance • The more attendance you have at team meetings, the more likely you are to retain agents. • Team meeting attendance (TMA) is a strong indicator of the pulse of the Market Center. • Low TMA is an indication that agents are pulling away from the Market Center, and suggests that in 60 to 90 days, you will lose some agents. Market Center Health – Retention Vital Signs

  30. Team Meeting Attendance Market Center Health – Retention Vital Signs

  31. Team Meeting Attendance Example: • I have 150 Contributing Agents. • 50 of them attend the Team Meeting. • 50 ÷150 = 33% • Green? Yellow? Or Red? Market Center Health – Retention Vital Signs

  32. Noticing Red Lights – and What to Do About Them Market Center Health – Retention Vital Signs

  33. When/Where to Look • Productivity-based Written Percentage • Monthly after transmittal • “Written Sales Volume by Associate” Report • Consult your color-coded roster • Identify WHO did not write a contract • Highlight them on your color-coded roster Market Center Health – Retention Vital Signs

  34. Who Should Look • Who is the MC leader most likely to notice who is and who is not writing a contract? • The MCA • Who is the MC leader most likely to notice who is and who is not showing up to team meetings, events, and in the Market Center? • The Director of First Impressions Market Center Health – Retention Vital Signs

  35. What You Do When There’s a Red Light • The further away your Market Center is from the green-light measure, the more direct and proactive you need to be in fixing it! Market Center Health – Retention Vital Signs

  36. Do the Two! • MCA • Contact two people a day who did not write a contract • Love on them (not making them wrong for not writing a contract) Market Center Health – Retention Vital Signs

  37. Do the Two! • Director of First Impressions • Contact two people a day who they did not see at the team meetings • Love on them (not making them wrong for not being there) Market Center Health – Retention Vital Signs

  38. Thank You! Please complete an evaluation form found in the back of your program guide. To download a free copy of this presentation, GO TO: www.familyreunion.kw.com/downloads

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