The following represents productivity and retention results from a representative sample from 2015 recruting class vs. the 2016 recruiting class of a Hoopis Performance Network enterprise client. This enterprise client instituted Trustworthy Selling Quick Start for initial training of new advisors. Newly contracted sales reps in April, May, June or July 2016 had an 82% higher one-year survival rate (40%), issued 68% more policies (6.4), placed 71% more annualized premium ($7,552), wrote 22% more investment commissions/FYGR ($7,560), and earned 34% more FYC ($4,295) during their first year with the organization than sales reps contracted in 2014 produced during their first year with the company. The HPN Solution has a positive impact on early survival and productivity.

OVERVIEW
XYZ organization assessed 173 sales reps and put them through LIMRA/HPN’s Trustworthy Selling Quick Start (TSQS) initial training program. The enterprise client worked with LIMRA and HPN to conduct a business impact study to assess the impact that selection and training & development had on the participants’ retention and productivity.

To evaluate impact, we compared the participants’ experience with a control group made up of 600 inexperienced sales reps from the same branch offices contracted by this enterprise client in 2014. Of the 71 TSQS participants in the July class, 25 (35%) were contracted in June 2016, 29 in May, 5 between January and April 2016, and 12 in 2015 or earlier. To make the July participant group’s production calculation similar to the control group’s, the participant group was modified to include only the 25 agents contracted in June 2016. Results for July alone are not shown since the month’s sample size is less than 30; only cumulative results are presented in this report. Although market conditions may differ between the two years being evaluated, this is our best means of isolating training & develpoment as the principle difference between the two groups.

The enterprise client provided monthly production for each sales rep in the participant group, as well as for every sales rep in the control group. LIMRA and HPN calculated average survival and production at one year for four metrics for both groups. This impact study is based on the assumption that had the participant group not gone through training and the development systems, their average one-year survival and production would have been the same as the control group. Ultimately, it is the difference between the rates and measures of the two groups that we call “impact” attributable to The HPN Solution.

Cumulative Findings at One Year
Newly contracted sales reps who attended Trustworthy Selling Quick Start training in April, May, June or July 2016 and the ongoing training & development for 12 months had an 82% higher one-year survival rate (40%), issued 68% more policies (6.4), placed 71% more annualized premium ($7,552), wrote 22% more investment commissions/FYGR ($7,560), and earned 34% more FYC ($4,295) during their first year with the enterprise client than sales reps contracted by the organization in 2014 produced during their first year with the company (Table 1). The HPN Solution has a positive impact on early survival and productivity.

Table 1. Comparison Between April, May, June and July TSQS Participants1 and Control Group2

1. Participants were contracted in January-July 2016
2. Control group reps were contracted between January and December 2014
NOTE1: Over half (52%) of the sales reps in the control group terminated within the first 90 days with little or no production. Forty six (27%) of the cumulative TSQS participants terminated within the first 90 days.

Cumulative Coaching
Twice during the training program participants were asked to rate the coaching that they were receiving from their branch managers. One hundred ninety six of the 370 participants (53%) completed a survey at the mid-way point and/or at the end. Participants used a six-point scale ranging from strongly disagree (1) to strongly agree (6) to rate 13 aspects of coaching. The 13 individual ratings were averaged to derive an overall rating for each respondent. Table 2a shows the results for 92 April, May, June or July “impact study” respondents. “Good” coaching that reinforces the training boosts the impact on survival and productivity.

Table 2a. Comparison Between April, May, June and July “Impact” Participants with Hi Coaching vs Lo Coaching

Table 2a. Comparison Between April, May, June and July “Impact” Participants with Hi Coaching vs Lo Coaching

Table 2b shows the results for 106 April, May, June or July participants contracted in 2015 or earlier, or in 2016 during months that don’t qualify as eligible impact months ; “good” coaching benefits more seasoned agents too.

Table 2b. Comparison Between April, May, June and July “Non Impact” Participants with Hi Coaching vs Lo Coaching

SAMPLE
The control group includes 600 sales reps contracted between January and December 2014. This static control group accounts for seasonality in productivity and will be used in each monthly BIRT analysis.

Participants with more than 3 months on the job are excluded from the analysis to make the participant group and control group as similar as possible. “Impact study” participants from the April class were contracted in Jan-March 2016; their production is tracked from April 2016 through March 2017.
In an effort to replicate the production profile of the participant group, each control group sales rep’s production is tracked from the month following their contract month out for 12 months except for agents contracted in January, February, and March 2014.  This subset of agents is tracked from April 2014 through March 2015 .