Finding great people doesn’t have to stop your progress

If I had a dollar for every financial adviser who told me their biggest issue this week was hiring staff, I’d have a lot of dollars.

Finding great people is one of the hardest parts of running a growing advice business, but it doesn’t have to stop your progress. Here are six things you can do to make hiring easier and more effective.

1. Hire University Students

Ideally look for students in their second year. They’re smart, tech-savvy, and quick learners.

In my 20 years in advice, this has been my most successful hiring strategy. It’s how I started too.

2. Split the Role into Smaller Parts

Instead of trying to hire one person to do everything, divide the role into smaller parts and hire several people part-time.

It’s easier to train, people can master specific skills, and it’s less stressful to replace someone if it doesn’t work out.

3. Consider a Virtual Role

Recruitment gets even harder when you limit yourself to people in your local area.

Open the role to candidates across Australia and you’ll instantly expand your talent pool. I’ve employed incredibly capable, degree-qualified women who prefer virtual work while raising young kids.

If you still believe the role must be in-office, remember it’s not 2010 anymore.

4. Embrace Automation

Review your processes and see what can be automated.

Examples include:

• Automated reminders for clients to update ID documents
  
  
• Online fact finds
  
  
• Automatic appointment booking emails
  
  
• Telephone underwriting
  

Small automations save big chunks of time and reduce admin stress for everyone.

5. Treat Hiring Like a Marketing Exercise

Most job ads focus on what the business wants, not what the candidate needs. That’s a mistake.

This is a candidate-driven market. Your job ad should highlight the benefits to the applicant and address their concerns or fears. Make it sound like an opportunity, not an obligation.

6. Don’t Hire People and Throw Them at a Problem

Even experienced hires won’t understand your business right away. If you don’t set expectations and processes, you’ll both end up frustrated.

Have clear systems in place before they start and outline two or three things they should master in their first 30, 60, and 90 days.

One game changer for us was creating a process library so everyone can see procedures in one place.

I hope you found that useful. If you’re experiencing growth pains and not sure how to reach the next level, send me a message. I’d love to help you get unstuck.