Firms who contact us are sometimes struggling with the dilemma of whether to hire a planner who will stay in an Associate role permanently, or the more traditional planner hire who will progress along a career path to an eventual Lead Planner role. Below are a few of the opportunities and challenges for the permanent Associate hire to consider when contemplating how and where your next hire might fit within your organization. Opportunities for Long Term Associate Hire: Management – ...
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Letting Someone Go
“Saying what needs to be said at the right time, to the right person, in the right manner is managerial courage.” —Michael M. Lombardo and Robert W. Eichinger (1996), “FYI For Your Improvement: A Guide for Developing and Coaching” Terminating an employee can be one of the most nerve-wracking and difficult things a business owner has to face in her/her career. When a team member is underperforming, the effects can ripple through the entire organization, whether it be: co-workers becoming ...
How Do Your Employee Benefits Stack Up?
As the season of year-end employee reviews has wound down, growing firms are now turning their attention to hiring for 2015, from filling new full-time positions to getting a head-start on interviewing for summer interns. Accordingly, this month we will discuss a few ideas to ensure your employee benefit package is still competitive to attract the best and brightest candidates with the most potential. While new planners seeking to enter the industry are primarily interested in the work they ...
Hiring For Effort
When contemplating staffing decisions for your firm, things such as timing, interest, philosophy, expectations, compensation, personality, and skill set all have to align for you to make a good hire. So how do you know which one(s) to focus on to ensure you make the best possible hire? There are no "fool proof" proverbs in employee selection, but I have found that hiring based on the demonstrated efforts of the candidate is a leading indicator of success – and this includes the effort they ...
Training the Trainers Part 1 of 2
Whenever you hire a new employee, someone has to spend time training them on the intricacies of how your firm operates, no matter what the new employee’s experience level may be. Due to the nature of our profession, though, and the limited time and resources constraints for typical financial planning firms, training a new staff member is usually not the best use of a firm owner's time so your staff ends up doing a lot of the heavy lifting. Training should not be viewed as a time intensive ...
New Planner Recruiting Announces Inaugural Winners Of CFP Exam Scholarship
For immediate Release Contact Caleb Brown, MBA, CFP® Phone: 1-888-666-1021 Email: cbrown@newplannerrecruiting.com New Planner Recruiting Announces Inaugural Winners Of CFP Exam Scholarship To advance the growth of financial planning and CFP certification, New Planner Recruiting, LLC, is proud to announce the winners of its inaugural CFP® Exam Scholarship award for 2014. This year's winners - Jamie Engelken from Kansas State, and Joseph Stallings and Peter Geckeler from the ...
Retaining Your New Hire
Last month we reviewed strategies on dealing with candidates who might have multiple job offers. In this month's post, we will look at some ways to RETAIN your recent new hire. *http://blog.hrsmart.com/2014/03/can-your-company-afford-not-to-provide.html Ask yourself these questions routinely, if you do not already, and think about possible outcomes for success. Here are a few Dos and Don'ts to consider if you find yourself getting stuck: Do: Have them meet with other ...
Avoiding the Stud to Dud Hire
Have you been guilty of hiring the 'Stud to Dud' candidate? You know, the one who shined in the interviews, but didn't deliver as expected once hired? You aren't alone! We hear this often from business owners who contact us for hiring assistance. Although there is no foolproof way to completely eliminate this from happening, here are some common pitfalls and behavioral biases than can unwittingly impact the process, and how to avoid them: Consistency Bias - All interviews should be ...
Crafting a Compelling Job Description Part 2 of 2
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 ...
Crafting a Compelling Job Description Part 1 of 2
A recent industry survey produced by Pershing forecasts that the financial planning profession will need to add a total of 237,000 new advisors across all business models over the next decade.* The demand for talented individuals entering the financial planning profession who can add value to your organization is at an all time high and climbing rapidly. There are several things financial planning firm owners can do to attract the best people, and having a compelling job description is a ...
Setting Your New Hire Up For Success Part 2 of 2
Last month we looked at some tips on integrating new planner hires with clients http://bit.ly/Successpart1of2. This month, we will look at ways to ensure a successful integration of your new hire with your existing staff. The quicker your new hire can become acquainted with your current clients and acclimated with your current staff, the faster they will add value to your organization. However, changing the internal dynamics of your human capital talent portfolio can be challenging and needs ...
The Art and Science of Candidate Screening
Hiring the employee who is the right fit is both an art and a science. When dealing with entry level candidates who have no prior work history or demonstrated career success, it can be difficult to determine who will be a great hire and produce a positive ROI. Further complicating matters is the fact that there are drastic differences between the graduates of various financial planning programs. Fortunately, there are things you can do to improve your chances of a good fit hire. We encourage ...