Liberty Mutual is one of the largest property and casualty companies. Presently, this is the tenth year of my employment with the company. Starting in Fort Lauderdale, good work performance has seen my transfer to the Philadelphia office. This experience is similar to starting from scratch with a new market, which is quite challenging. In Philadelphia, it is more challenging to close deals as it takes time to build relationships with new clients. To avoid frustration, therefore, it was imperative to adopt new techniques to engage customers in achieving sales similar to those I obtained in the past. This paper applies statistical process control methods, thereby bringing out control metrics and displaying them on this paper.
Statistical control methods provide methods of quality control which ensure that a process is controlled through the addition of statistical methods. In this manner, therefore, these methods are applied to obtain bare minimums which should be achieved so as to ensure the desired outcome is met. Variations in the outputs are also obtained to determine which minimum inputs are required for effective reaching of the set goals. Considering the minimums which are as follows: base capita of five policies per week, a doubled pay to make up for lost commissions and rise to assistant and a 16% closing ratio; it was necessary to input these as the required statistical parameters:
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An upper limit of 75 interactions a week.
A lower limit of 15 clients per week.
A sample size, n of 3
The attached Excel sheet provides the calculation for the process control.
Figure 1 : X-Bar for Average Sales
Figure 2 : X-Bar for Range
The figure above shows that extending the parameters provided above to make an acceptable upper and lower limit, the average number of interactions per week stands at 34 clients. This means that with the set parameters and operating at 100% efficiency, it is expected that the outcomes will surpass the performance in Fort Lauderdale, as it will register a quick operational background. Notably, this is the calculation for only one of the goals set for the Philadelphia process control effort. As a result, it would be expected that the additional efforts would achieve the desired average client interaction of 60 clients, thereby giving succinct client interaction required for successful sales.
In conclusion, it can be adduced that the process control measures and goals obtained are sufficient in achieving the set goals as foreseen when moving to the Philadelphia office. By following consistently through the processes set up, it is almost assured that the clients will come in their droves.
