What's next for high-producing finance and insurance managers? Advanced training, believes F&I company Assurant. But most dealerships haven't been offering it.
"Everyone would agree that they need to train the new people, and a lot of people would provide continuing education for their key employees — high-level managers. But for this middle level, there's really not much out there because Mr. and Ms. Dealer might look at them and say, 'Well, gosh, they're producing for me. … Why do I need to send them to the training?' " said Dave Worrall, senior director of global training and development at Assurant Global Automotive.
But proactive dealers who want to retain employees need another avenue to develop leaders within the company, he said.
In July, Assurant launched a training course for F&I managers who have succeeded in their roles for a number of years. The course is all about leadership, Worrall said. It gives strategies on topics such as aligning with the sales department, working with lenders and becoming a compliance expert, Worrall said.
Next year, Assurant plans to introduce another course catered to F&I managers: 20-group style training for those who oversee multiple rooftops, he said.
"Being able to be a better leader will naturally increase production," Worrall said. "And it might retain top performers."