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Summary: Many service companies, including retailers, call centers, and security firms, can reduce costs and make better hires by using short, web-based psychometric tests as the first screening step. Such tests efficiently weed out the least-suitable applicants, leaving a smaller, better-qualified pool to undergo the more costly personalized aspects of the process.
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Summary: The financial-advice industry attracts a lot of career-switchers. In fact, at many large firms they make up the majority of new recruits. While a second-career advisor may not come as cheaply as a 21-year-old fresh out of school, success in a previous profession is an excellent predictor of future productivity, these firms say. Second-career FAs don’t cost any more or less to train. And advisors who have built a network of solid relationships in their first career often come with an built-in client niche.
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Summary: In this article, Financial Planning Magazine 30 of the top Schools for Financial Planning. Be sure to see which schools are near you for potential internships and new hires.
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Summary: Most firms subject new hires to trial by fire. As a result, many say they experience disorder, lack of clarity, and confusion. Very few firms, even the best, engage in thoughtful training. This suggests that advisors can do better when it comes to preparing team members to succeed. Considering the time and thought required to design, develop and deploy formalized training programs, it’s no surprise that the advisory profession doesn’t have a mature training model. Here are some ways to help new hires thrive.
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Summary: That year-end bonus no longer motivating staffers as it once did? Maybe it’s time to revamp the compensation model, an Advisor Perspectives blog suggests.The blog acknowledges decades’ worth of research showing that employees find motivation in things other than compensation — “achievement, recognition, work that’s challenging and fulfilling, autonomy, and the opportunity to learn and progress,” for example.
