How My Firm Hires Great Employees

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.Teresa Riccobuono

Even if I didn’t watch the news, I could tell you the economy is improving. My clients (financial service professionals) have started to talk about hiring, a sure sign that people are feeling more confident about the future.

Adding a team member is a big decision. If you are thinking the time is right to add to your roster, here are a few things to consider.

Before the interview

Adding someone to the team is a little like getting married; you are making a long-term commitment. Good planning and preparation are keys to success.

Make sure you know what you want. A detailed job description is a must. If you have other team members, involve them in developing the job description.

Consider this an opportunity to rearrange job duties. When one of my advisors was looking to add a team member, one of the existing team members spoke up and said that she would like to add some duties and eliminate others from her job description.

Advertising for a new hire doesn’t have to be the way to start your search. Look at alternatives. Would any of your clients be worthy candidates? Do any of your clients have children or grandchildren who recently graduated from college?

What about your service providers? That great salesperson or restaurant server already has certain skills you may find hard to develop in someone new.

If you do go the route of running an ad, consider Craigslist or something similar. Place the ad under the finance instead of the administrative section. This in itself will eliminate some unqualified candidates.

Your recruitment advertising must be compelling enough to generate interest but specific enough to exclude unqualified applicants.

If you don’t want to do the work yourself, use one of the local hiring agencies that cater to the financial services industry. Don’t know where to find one? Ask me.