It’s Q4!
â— How many IXP, EXP, or Career changers have you hired year-to-date?
â— Are you on track or behind with the goals you outlined at the beginning of 2019?
Despite the importance of recruiting, for almost all firms, any activity associated with recruiting gets pushed to the bottom of the priority list. Closing new business or courting prospects always takes precedence. [Read more on that topic here]
If you’re behind in your recruiting efforts, which unfortunately is the industry norm this time of year, this post is for you.
As you close out 2019 and start to plan for 2020, consider using these tried and true recruiting lessons to set you up for success in the new year.
1. Sourcing: Otherwise known as the Achilles heel of a financial services organization, sourcing is one of the key ingredients in a successful recruiting strategy. The secret to success isn't unknown; it's unfollowed. You must be consistent and focus on sourcing a little bit all of the time, not a lot some of the time. Yes, it is as simple as that! Use a time blocking approach to help follow this lesson. Plan to spend a specific amount of time each day on sourcing. You must fully understand where your first interviews are going to originate. Some sources are better than others as you know. Focusing on the behaviors or leading indicators is the key to consistency. That could include using LinkedIn or attending a networking event or college fair.
2. Want vs. Need: Let's consider for a moment that your sourcing is consistent, and you have a robust recruiting pipeline. When in this situation, you are sitting on the right side of the bus regarding the mindset and rule of recruiting; "need versus want." Here's what I mean: You have the luxury to hire a particular candidate because you believe he or she will genuinely be an asset to your firm. You want to bring them on board; you don't need just to fill a hiring quota. Always put yourself in a position to choose to onboard the people you want—be picky. The rule is simple— always put yourself in a situation of Wanting not Needing. When we "need," all process, guidelines, and safety checks with the recruiting process are overlooked or skipped. We are now filling bodies, not recruiting advisors to be part of the firm.
3. Selling vs. Interviewing: When was the last time you took a look at your interviewing style? How much do you talk? Do you have a format or do you "wing it"? If you're doing the recruiting, chances are you're in some sales role and most likely treating your candidates like a client, not a prospective employee. You'll make small talk then tell them how great your firm is, etc. If you recall your last interview, I'll bet you didn't begin asking the candidate questions until after you've warmed him or her up. Am I right?
Did you know most interviewers spend 80% of their time selling the job instead of interviewing the candidate? Think about the last interview you held. How much time were you talking versus listening? Selling will happen when you become successful in a job, not when interviewing a candidate.
I want to help you think through your interview processes by considering information like:
â— The top 5 reasons why IXPs don’t make it and how to uncover those during the interview.
â— Are you selling the career or interviewing the candidate?
I work with my clients to help them create a hiring and interviewing roadmap that covers all recruiting scenarios and puts the interviewer on a successful interview track.
4. Ask True Behavioral Questions: The type of questions you are asking a potential candidate can be extremely telling. How they answer questions can provide foresight into their future behaviors. Great interviewers ask behavioral-based questions.
To be exceptionally good at interviewing, my team and I always recommend getting clear on the following:
â— Define the real behaviors needed for the role (cold calling, public speaking, prospecting, etc).
â— What attributes and attitudes the candidate must possess to be successful (tenacity, taking risks, organized, etc)?
There is no point in reinventing the wheel. You know what makes someone successful in your firm. However, are you asking the right questions to uncover future behaviors?
In an upcoming post, I’ll address another big recruiting lesson that shouldn't be ignored—when you put all the attention on the recruiting and forget about your new hire when they are onboarded.
If you are interested in discussing how to avoid the pitfalls of recruiting, please reach out to me via LinkedIn or call me directly at 631-726-3537.
Remember to do a little bit all of the time, not a lot some of the time.
[FREE REPORT] 3 Ways To Ensure Your Sales Cycle Doesn't Sputter During the Last Mile
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