Does Service Stratification Work for Northwestern Mutual?
So is the Northwestern Mutual Forum actually succeeding in its quest to motivate representatives to increase productivity and improve performance? Going back to 2000, Ive analyzed the premium credit hurdle rate and the number of qualifiers, Schattschneider said. Any time more than 200 qualify, it means we have a growing, healthy group of producers. We have averaged over 250 each year on an ever-increasing premium target, so by those two measures, were seeing some good results. Other evidence that I believe supports the benefit of doing this segmentation is that our financial representatives set targets to achieve Forum, Schattschneider said. Prior to the creation of Forum, they would often set targets to improve their performance the next year by a certain percentage, or they would strive to make the Million Dollar Round Table (MDRT). Now, when a rep starts at our company, it doesnt take them long to discover the benefits of Forum and use it as a stretch goal: In three years, Im going
