Why are representation rates important?
Representation Rates are a closely guarded secret among RCIC’s and why is that so?
If a threshold is established based on Practice platform, Representation rates show the following:
- Successful in the job the RCIC is doing or at least maintaining minimum acceptance in the market
- Accepted as a Representative in the market (Client acceptance)
- Accepted by the public (clients) as a trustworthy and dependable RCIC
- Easily identify if the individual is part timing. The best way is to know their representation rates
- Easily identify if the individual is credible and along with experience and representation rates, this will disclose credibility as well
- The most easily auditable rate for any RCIC is their representation rates.
- Anyone with high representation rates will be focussed on Representation and not on the PPMP.
- Most “Hard Core” consultants will extend their service FREE of charge without any desire for PPMP because it in in the interest of a Hard-Core consultant to see the profession grow (not the PPMP).
- Open disclosure is a must, any RCIC who earns through self-regulation MUST openly disclose their income from ICCRC. Such individual’s views are obviously tainted because of such revenue. Every RCIC is supposed to disclose any income of commissions earned when it comes to representing clients, the same regulation must apply even at forums when “Self Regulation profit takers” must openly disclose income earned. I consider it a shame for people in the profession to earn from the regulator.
Today’s model reflects everything which is bad for the profession. NO representation rates are commuted or talked about and people who have limited or NO representation rates spend a lot of time “mentoring” and providing answers in forums etc. Their eyes are on the PPMP (Piece of the Pie of the Membership Pot). Neither is Representation rates discussed or divulged. When I tried to discuss my representation rates, I was mocked and ridiculed, especially by those with their eye on the PPMP.
Most people who vehemently support Self Regulation actually earn from Self-regulation. They don’t support the Profession but support Self Regulation possibly because they have a vested interest. They are trying to secure their retirement. Is it a “crime” to openly discuss representation rates? Why are representation rates NOT disclosed when standing for elections?? People with long experience and poor representation rates are actually a failure candidate.
Today’s self-regulation model helps a selected few.