Have multiple hiring needs? Here is what we share with practice owners who may only have financial resources to make one.
Eddy Ricci, Jr., CFP ®, CEPA ®: If you have less than 8 employees and think you need to add two or more new team members, it can be challenge to know where to begin. The first question to ask, is what team member (if not yourself as the owner) is furthest away from their “highest best use” in the organization. That can help you decide which position to hire for first. The next step that we advise smaller teams to think through is what the ONBOARDING process would like for the position(s). This will help clarify, as well what the getting input from existing team members, on what is most important for the next hire to learn and also will be a helpful for candidates to see while interviewing. When you and your team think through onboarding, it may become obvious what position you should hire for first.
Michael P. Connaughton, CFP®, CLU®, ChFC®: We often speak with firm owners who have multiple hiring needs to help support and scale their business, but depending on the size of the firm, we may suggest focusing on just one. The reason being is that it takes time, infrastructure, and commitment to properly integrate a new hire into a practice and set them up for long term success. We share with firms while there may be numerous areas of need, prioritize the role that if filled will provide the most leverage. From there firms should establish a collaborative interview process that will allow them to find the right candidate and then take the time to develop an onboarding plan that involves structured training to best position the new hire for a long lasting and impactful career.