Last month we looked at the Introduction, Position Summary, and Current Responsibilities sections of a compelling job description(http://bit.ly/JDpart1of2). This month we will review the Future Responsibilities, Qualifications and Benefits sections.
Future Responsibilities aka “what a hire can do if they meet or exceed expectations” - This is a key section that should be included, since it reinforces to the candidate that there is a true growth opportunity and if they do well, they can earn an increase in their responsibilities. This section alone can assuage fears many new hires have that they are going to be stuck in the same job for an indefinite time period. They still have to deliver, but this gives them hope that there is something to work toward!
Hint: You need to hire for your immediate need, but always be thinking about what you would like for your new hire to grow into (and no, this is not a guarantee that they will grow into it).
Avoid: Listing a role and/or responsibility you have no intention of letting someone else actually perform.
Key Qualifications aka “framework for the skill set you seek”- Listing the skills you think are needed to succeed in the job is a logical approach. Keep in mind the longer and more restrictive the list is, the smaller you shrink the pool of applicants in an already small pool and the tougher it is to find a good fit. A long and restrictive list can also scare away someone who could have been a great candidate except they did not meet one of the fifteen items you listed. What we do as financial planners is not rocket science, and much/most of it can be learned on the job.
Hint: Firm owners would be better served focusing their time and efforts on candidates who exhibit passion for the profession, initiative, coachability, and a positive humble attitude rather than seeking out those who hold a series 7 license, and/or prior experience with Salesforce, etc. All of which can be studied, learned, and mastered.
Avoid: An all encompassing laundry list of your wishes that describe the perfect candidate in your mind. Remember, the perfect candidate is probably not out there, and if they are, there’s a high likelihood they’re already your competition! 🙂
Benefits aka “the other perks you offer besides a great career growth opportunity”- This section needs to be thorough, but avoid replicating your employee handbook verbatim. New hires minimally expect reasonable cash compensation, access to health insurance, and a retirement plan. Anything above and beyond this is great, and should be included because it could set you apart from other employers.
Hint: Check out Angie Herber's recent whitepaper discussing the most effective benefit packages: http://bit.ly/P4Perks.
Avoid: Ignoring what other industries are offering as compensation to the talent you are both competing for.
Finally, be careful about overselling the position hoping to catch top talent's eye to "just get in front of them" and subsequently "sell them" on your firm and the position. Financial Planning is a small and growing profession, but word still travels fast if a firm develops a reputation for not delivering on the opportunity they originally offered.
If you have had trouble attracting the right employees, it could be an issue with your job description. If you think this might be the case, feel free to reach out to us, and we can discuss possible improvements with you.
When you or your colleagues are ready to hire, consider using New Planner Recruiting to increase your odds of success, or view more of our free resources online at www.newplannerrecruiting.com
- Viet Pham, the intern we hired, continues to support me in my efforts to find you the best talent available while pursuing his Financial Planning degree from the University of Georgia. Viet has been instrumental in the growth of the business and we have expanded his responsibilities so know that he is working diligently on your behalf and you might happen to receive a communication from him at some point.
- Additionally, we plan to hire another team member in 2014 to support our current and future projects. Feel free to contact me at [email protected] for further details on this position and our 2014 plans. We are very excited!
- Thanks so much for your referrals and loyal support. We are humbly appreciative of the trust and commitment that you have placed in us and it has been our honor to serve you in sourcing, screening, selecting, and integrating the next generation of planners in your firms.