There are many things to consider when creating or enhancing an agency organizational chart. First of all, the most important part of the chart is to decide which roles individuals will have and for how long. This decision will depend on how long the insurance company has been in business and will be affected by the specific legal or operational requirements of the business. It is also important to consider the amount of work that each role requires, as well as what kind of skills or responsibilities would be best for those particular roles.
In addition to deciding on the number of positions, you should also decide whether to create a new organizational chart or just modify the existing organizational chart. Some people believe that it is better to create an organizational chart from scratch, because then they can easily change it whenever necessary. However, there is no reason why you should have to do this, as adding a few positions here and there is not likely to make much of a difference. As with most things in life, though, it’s usually better to stick with what works. Creating an organizational chart from scratch might also prove too time consuming, so it may be a good idea to consult an independent insurance agency’s organizational chart template or to use one of many samples available on the internet.
When creating or modifying your own organizational chart, there are a few basic elements to keep in mind. First of all, it is important to note who is the head of each department, or if any head is listed at all. Also, different insurance companies use different formats, so it may be necessary to adapt your organizational chart accordingly. Finally, when it comes to positions, there are several types of them and they are described below.
A lead is the primary person for all matters related to the business. They are typically the highest-ranking employee, but they may report to the president or a senior manager. A senior manager will report directly to the owner or board of directors. In general, senior managers make more money and may also have more direct access to decision-making power than other employees. Depending on your insurance company’s organizational structure, this may not be the case.
An executive is the second most important person. They are called upon to make decisions regarding the company and its policies. A high level of trust is required because they will be making the final decisions about anything that affects the business. This could include policy changes, pay increases, bonuses, or any number of other decisions. If trust is not established between the CEO and the president, then the next level of management may be beyond their ability to manage.
The third level of management is called the managerial staff. These employees work under the supervision of the CEO and the president. Many companies hire additional consultants or administrative assistants to handle their employees’ professional affairs.
Financial management is the fourth most important position. A financial manager is in charge of the company’s money. They are responsible for setting payroll, collecting employee monies, and budgeting it. Financial officers may also handle employee loans and debt payments, as well as determining which accounts are maintained within the company and which are closed.
If you want to survive and thrive in the world of business, you need to develop an effective and strong 6-agency structure. Your company needs to have a clear chain of command and everyone knows what the leader is. No one should be allowed to have a higher position than anyone else, unless they are specifically designated as a president. Allow all employees to have input into decisions regarding the company and its operations. They are much more likely to perform their tasks if they feel respected as individuals. Consider a part-time employee as an executive in training.