Trying to find new talent to bring into your company can seem like an uphill struggle, especially when you have to interview what seems like a never-ending stream of potentials who do not make the grade.
Not being able to match the right person to the right opportunity is frustrating but do not be disheartened, you may need to re-visit your job specification to make sure you are putting out the right message about who you want to work for you.
Writing an accurate job description is the key to attracting and, more importantly, retaining, the right people in your firm.
Job specifications should not be a list of qualities and qualifications that you want a potential recruit to have. Looking for talent should not be a tick box exercise. Instead, a job specification should be a ‘shop window’ into your company, detailing not just what you are looking for in terms of education and experience but also in terms of professional ethos.
In the post-Retail Distribution Review (RDR) world, a high price tag is placed on professionalism and client service.
To attract the best talent you need to make your business ethos clear and show you are a professional firm. If you are a fee-based, chartered, wealth manager who aims to provide personal on-going service to high-net-worth individuals, then you need to spell that out.
The more details you can give about your company, along with the requirements of the role, the more likely you are to attract the right person.
However, that is not to overlook the importance of setting out what skill requirements you need to fulfil. Post-RDR everyone who wants to practise as a Financial Advisor will need to hold a level-four qualification.
You should also look at what specialist skills you may need in your firm in the future. Many Independent Financial Advisors are specialising in certain areas, such as pensions or investments. Look for people who already have qualification specialisms or who have a specific interest or experience in one area of financial planning.
When writing a job specification, you need to include the following:
- Information about your company
- Information about your team
- Details about the role and how it will develop
- Details of the personal skills you require
- Remuneration details, including benefits
Getting the help of a professional when writing a job specification can also help you to attract the right talent. IDEX Consulting LLP looks not just at the opportunity within your company but takes an in-depth look at your company to establish the quality of the business. In the new world of financial services, recurring business, not top sellers and headline figures, is king.
This enables IDEX to help you market your company to potential talent more effectively.
IDEX also helps clients to ‘map the market’, identifying talent in your local area and finding the 10 or 12 most relevant individuals who IDEX will then headhunt for you.
Recruitment is a tough game. Professional help will ensure you come out on the winning side.
For more ideas from the experts at IDEX, download our eGuide ‘Why RDR is a win-win situation for recruitment’.
