Date of Conferral
Doctor of Business Administration (D.B.A.)
Information Systems and Technology
High turnover of new sales agents costs insurance leaders millions of dollars and adversely impacts profit margins. The purpose of this multiple case study was to explore the retention strategies that insurance leaders from central New Jersey used to reduce sales agent turnover. Study participants included 5 insurance leaders with sales management experience ranging from 3 to 5 years. Job embeddedness theory was the conceptual framework for the study. Data were collected via semistructured interviews, company reports, and archival records. Using thematic analysis, the data were examined and coded and generated 4 key themes: recruiting and selection process; value of coaching, training, and mentoring; leadership engagement; and organizational culture. The implications of this study for social change include the ability of insurance leaders to allocate increased profits to funding local and community-based service organizations and philanthropic initiatives. Additionally, with increased profits, insurance leaders may be able to invest in developing indemnity products and services tailored for underserved populations, such as women, minorities, and low-income individuals and families, thereby contributing to positive social change.