2016 Best Practices Benchmarks

As reported in a previous post, Reagan Consulting has released the 2016 Best Practices Study. As noted, 23 IIAT members are recognized as Best Practices Agencies, more than any other state. The 2016 IIABA Best Practices Study, which aggregated the financial results of over 300 high performing agencies across the country, can be a valuable guide for managing your agency.

The study includes the following insights:

Under $1,250,000
$1,250,000 –$2,500,000
$2,500,000 –$5,000,000
$5,000,000 –
$10,000,000
Average Revenues
$822,626
$1,827,251
$3,562,603
$7,067,721
Average # of employees
7.22
13.92
22.5
42.02
Average Organic Growth
4.2%
6.5%
4.9%
6.2%
Average Revenue per Employee
$120,324
$141,028
$177,994
$177,093

When comparing your individual agency to these aggregated numbers, be careful to understand what’s behind the benchmark and why your agency may be deviating. The benchmark gap may not be relevant to your particular markets, customers or resources and may not be under your control

To view an executive summary of the study and/or order the complete study, visit the Best Practices Gateway. You can also view a video overview of the 15 Key Metrics and why they matter.

For more revelations about the study, be sure to register for the 54th Annual JEV Management Seminar where Bobby Reagan will present a session detailing findings from the latest study and sharing the secrets of high performing agencies.

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