Are You Creating Capacity for Growth?

CAPACITY

Are You Creating Capacity for Growth?

According to the recent study by Investment News, advisory firms are continuing to grow at a pretty healthy clip although sources of revenue have shifted (here is a link to the Executive Summary -Investment News Study of Pricing and Profitability - Executive Summary.  This study was formally

entitled “Financial Performance”.)

The study also showed that Advisors created a great deal of capacity last year adding staff at all levels.  When asked about the growth tactics they have employed over the last two years to create capacity, 45% of responding advisors stated they had hired new staff.

What does this tell us?  That with an unemployment rate at 3.9% and an already existing talent shortage at all levels, it is going to continue to be difficult to recruit the top players.  Recruiting time continues to grow as advisors are employing many tactics to hang on their top talent.  Prying someone away from another firm is becoming increasing difficult.

Now, just to be clear, there are “bodies” out there you can put in a role.  But, since study after study has shown that the fastest growing, most successful firms only hire “A” players, we are assuming this is what you are looking for when we talk about recruiting times.  We won’t hire anyone other than an A player as we have seen the effect on our retainer client firms that have or have had a non-A player.

Recruiting in this environment is tough and getting tougher.  We have a proven process in place and do it all for you. From helping you write the ad, determining salary and benefits, culling resumes, having initial calls with candidates to employing assessments, offer letters and training schedules.  We have it all in place and we have a great success rate – over 90% of the candidates we hire are successful in their positions and are still there years later. We’re proud of this and we’ve worked hard to achieve it.  Our Hiring Process

If you are going to need to create capacity in the next 6 to 9 months, now is the time to start.  Give us a call and we can see if we are a good fit to work together.

Thanks for listening, Ginny

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