In the finance industry, four-year retention rates have never exceeded 20%.
When you work in the recruiting industry, sometimes the numbers work against you. In the financial world, there’s one statistic that I think about regularly: 21 percent.
According to The Life Insurance Marketing and Research Association (LIMRA), the three-year retention rate for companies in the financial industry is 21 percent, and for the four-year retention rate, it has not exceeded 20 percent—ever. Keeping your best people is important, but knowing that one out of every five advisors you recruit will still be there after four years is difficult to manage. How do you break that cycle and beat the odds?
For us, the answer came in a few different forms.
Training and Support
