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What Is Your Firm’s Hiring Process

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What is your firm process for determining the next hire?

Eddy Ricci, Jr., CFP ®, CEPA ®: Getting insight from the current team members is an overlooked step in a firm determining an additional (non replacement) hire.  Great firms have the professionals that are closest to the work weigh in on what the firm needs and where capacity can be created in addition to the view from the top “department directors”.  It can be as simple as a periodic survey simply asking about what the team/department needs to ensure it stays highly functional- leading to a proactive way to assessing the firm’s hiring needs

Michael P. Connaughton, CFP®, CLU®, ChFC®: When speaking with firm owners and COOs there are often multiple areas of the business where they could use support.  However, the firm may only be in a position to make one hire. We encourage firms to evaluate if current team members are focused on the right responsibilities and are best positioned to leverage their strengths.  From there they should have a discussion with key team members to identify the ONE area that is the biggest need. Is it client service?  Relationship management?  Investment strategy?  Financial planning support?  Once a firm determines the area of need where new talent will create the most bandwidth they can hire with confidence.

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