2017 will soon be in the books and for the most part it seemed to be a very good year for a lot of you, so congrats!

To continue to build upon these successes and avert the challenges facing our profession, it is increasingly necessary that you continue to fully utilize every asset at your disposal. And by far the biggest lever you can pull to increase the value of your assets is to improve your firm’s human capital. From this perspective, you need each member of your team to be at the top of their game for 2018.

Here is a list of New Year’s resolutions for you and your new planner(s) to set the stage for a(nother) great year.

• I will inform my new planners of business plans, as they might have some interesting input, and I realize they will have a larger degree of long term buy-in if they are a part of the conversation.
• I will ensure my new planners have the best equipment and most up to date software/tools so efficiency doesn’t suffer.
• I will remember what I said and promised during the interview and hiring process in regards to their roles/responsibilities and career path, and make sure I am holding up my end as long as they are delivering as expected.
• I will give my new planners positive reinforcement in addition to constructive criticism.
• I will go to my new planner and let them know whether or not they are meeting or exceeding expectations.
• I will spend time with my new planners, show confidence in them, exhibit patience with them, and view them as the professionals they are.
• I will let my new planner actually talk to my clients and even consider letting them practice honing their skills by presenting the analysis they performed.
• I will make an attempt to ask about my new planner’s interests and family outside of work because I understand that the family always wins.  If things at home are out of sync, it will probably, at some point, affect his/her work. I understand that I might not be able to fix it, but do need to be aware nonetheless.
• I will consider adjusting the culture of the firm to attract younger workers and younger clients as I know the baby boomers can’t have the majority of the assets forever and the “experienced workers” will retire not too long from now.
• I will not involve my younger planner in disputes with my partners (where ownership is shared among multiple principals), and/or force them to choose between us.
• I will not take out any feelings of frustration and anger from what happens to be going on in my personal life at that time on my new planner.
• I will realize that there are no perfect fits out there, and if I have solid team members I should do everything possible to ensure they are satisfied, or another firm surely will.

 

Merry Christmas, Happy Hannukah, and Happy New Year!