Most automotive dealerships would agree with the statement that within their establishment, it's their finance and insurance department that generates the most revenue per square foot. When a department is that mission critical, there is simply no room for gaps in its staffing, at any time. In short, every dealership must have F&I experts available during every hour they're open, or they risk losing potentially hundreds of thousands of dollars in sales. Fortunately, dealerships do have options available if they find themselves in sudden need of such a critical component of their business.
When the Unexpected Happens
Especially for smaller dealerships, it's not uncommon to quickly become understaffed or have no F&I staff at all when their finance person calls in sick, they've been fired, they're on maternity leave, they don't show up when scheduled, or they simply quit on the spot.
Of course, it's also not uncommon for personnel to become burned out during a dealership's busy season(s), which means dealerships may become understaffed just when they need help the most. If this occurs within a dealership's sales staff, there are others who can simply pick up the slack until another salesperson is hired. However, when it comes to the part of the sale where financing is required, becoming suddenly short-staffed can result in immediate lost sales.
Immediate Expert Help
If a dealership should find themselves with an immediate need for an F&I specialist, there are resources available to help fill in the gap. Just as other businesses may turn to a temp agency when they have a need for immediate staffing, automotive dealerships can find the finance and insurance expertise they need by bringing in a temporary F&I specialist.
Benefits from Employing a Fill-in Specialist
Besides the obvious avoidance of lost sales if a dealership's finance and insurance department can provide immediate services to all the clients who just purchased one of their vehicles, there are other benefits a temporary F&I specialist can offer as well.
New Employee Training — It's not uncommon for smaller dealerships to have only one or two employees in charge of financing. In the event a dealership fired their original personnel, or their one and only finance employee decided to hand in their resignation, it's reassuring to know the option to hire a temporary F&I specialist who can then train a new employee, is available.
Peak Times — It's also possible for a dealership to be fully staffed with F&I personnel, but still require some extra help during a dealership's busy seasons(s). Rather than investing the time and resources to train a new employee only to let them go after they're no longer needed, it makes more sense to simply hire a temporary specialist, already trained in automotive finance and insurance services.
Flexibility — One of the benefits of turning to a temporary F&I specialist rather than hiring a person to work for a dealership, is the flexibility it allows dealerships with regard to their staffing needs. Temp specialists can be hired for as little or as much time as a dealership requires, whether they need someone to fill in for a one or two day gap, or for several weeks or months at a time. By having the staff available to handle the finance and insurance component of a sale only when they need it, when it comes to personnel, dealerships only need to invest the dollars they absolutely need to.
Summary
If you would like to know more about the benefits of hiring a temporary F&I specialist for your dealership, we can help. We can put your dealership in touch with pre-screened, highly-skilled F&I professionals that provide the services you need, only when you need them. Please contact us today for more information!