To find and keep quality staff, brokers should engage their peers and seek specialist assistance before rushing into new hires, says Choice CEO Stephen Moore.
There comes a time in many brokers’ careers where it no longer makes sense to be a one-man band, says Choice CEO Stephen Moore. “Perhaps you’re finding yourself working increasingly crazy hours, spending lots of time on administrative tasks that don’t necessarily add value, or you’re taking on such a large amount of clients that you don’t feel you can service them as well as you would like to,” says Moore.
These are all good problems to have as it means your business is growing, but it also means you have to start thinking about entering the potential minefield of recruitment, a thought that may put many brokers off taking that important first step towards growing their business, says Moore.
“Many brokers may discouraged by the time-consuming process of placing ads, sifting through resumes and holding rounds of interviews – not to mention the prospect of going through this process, only to find you’ve hired someone who isn’t the right fit for your business,” he says.
So how can brokers ensure they find and keep quality staff?
Firstly, brokers may be able to avoid much of the administrative woes of hiring new staff by using one of the best recruitment methods – word of mouth. “Rather than relying on individual judgement during a brief interview to decide if someone is a competent worker, a much more foolproof method is to ask around among your industry connections,” says Moore. “Perhaps someone knows a great banker who is looking to start a career in broking, or a fantastic administrative worker who is looking for a more flexible working environment.”
By sourcing a new hire who comes with a rave review from someone they know and trust, brokers are much more likely to find a suitable candidate, says Moore. “Your aggregator is also a natural source of intelligence for sourcing candidates within the industry too, as they are connected to a network of brokers across the country and may know of someone great that is already working in the industry and looking for a change,” he says.
For brokers who decide a formal recruitment process is more appropriate for them, Moore advises not to do it alone. “Think about engaging a human resources consultant who can help you through the process with expert advice, and help you take a critical eye to things like CVs and interview performance, to work out who might be a good candidate in the long term,” says Moore. “They may also help you to work out an organised induction program to ensure your new staff member becomes productive as soon as possible.”
Again, it’s also worth engaging your aggregator to see if they offer services like this in-house – Choice offers brokers access to a dedicated recruitment team that helps brokers with planning, recruitment and retention strategies when it comes to human resources.
Although it may seem like a big investment of time and expense, by going through the process in a measured and organised way, you can ensure your recruitment is as targeted as possible towards finding the right person for your business, says Moore. “Before long, you will notice the difference that an additional staff member can bring, allowing you to focus on what you do best: providing expert tailored advice for clients,” he says.
To see how Choice can assist with your strategic direction, contact a Partnership Manager today
The broking franchise group has called on Treasury to introduce p...
ASIC has released a new report into the effectiveness of financia...
The non-major has joined an online mortgage broker’s lender pan...