COMMITMENT PLAN. Firm Foundations: Talent Acquisition
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1 COMMITMENT PLAN Firm Foundations: Talent Acquisition
2 DIRECTIONS: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Leading the Recruiting Process: Ideas & Nuggets:
3 Recruiting & Selection Systems Assessment Reflect back to determine how frequently your organization practices each of the following best practices and check the corresponding box. When finished, add the point value of all your responses and use the scale at the bottom to determine your organization s effectiveness in this particular area. STRONGLY AGREE AGREE SLIGHTLY AGREE DISAGREE STRONGLY DISAGREE 1 We communicate our organization s values and mission in the recruiting and selection process. 2 Our leadership team is aware of each team member s annual recruiting goals. 3 We discuss progress towards our recruiting goals in our monthly leadership team meetings. 4 We have a clearly defined process for identifying the activity required to reach our recruiting goals. 5 We have an effective system for tracking candidates as they proceed through the recruiting and selection process. 6 We have an accountability structure in place to help members of the leadership team achieve their goals. 7 Our organization is effective at obtaining advisor referrals to potential recruits. 8 Members of our leadership team are effective at Center of Influence development for recruiting purposes. 9 Our organization is effective at promoting the career opportunity in our local community. 10 Members of our leadership development are required to provide a certain number of recruiting leads per month. 11 Potential recruits meet with successful advisors during the recruiting process. 12 Our organization has a formalized selection process that is implemented consistently throughout the organization. 13 We regularly communicate the value of organizational growth to our advisors and associates. 14 We typically have a good balance of career changers and college graduates in a given recruiting year. 15 We utilize multiple, objective selection and profiling tools in our selection process. 16 We utilize structured, in-depth behavioral interviews in our selection process. 17 Our organization determines a candidate s financial feasibility during the selection process. 18 We have a written ideal candidate profile that is communicated. 19 We discuss expectations with potential recruits during the selection process. 20 We have tools to help potential recruits begin to identify their potential markets during the selection process HOOPIS PERFORMANCE NETWORK TALLY TOTALS GRAND TOTAL 5 POINTS EACH 4 POINTS EACH 3 POINTS EACH 2 POINTS EACH 1 POINT EACH HIGHLY EFFECTIVE VERY EFFECTIVE = 91-75= 74-46= 45-29= 28-20= EFFECTIVE SLIGHTLY EFFECTIVE INEFFECTIVE
4 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Infrastructure: Ideas & Nuggets:
5 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Breaking down the numbers: Ideas & Nuggets: Your numbers:
6 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Building a Culture of Referrals: Ideas & Nuggets:
7 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Other Sources: Ideas & Nuggets: Centers of Influence: Campus:
8 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Attracting the Next Generation of Sales Talent: Ideas & Nuggets:
9 Attracting Generation Next Systems Assessment The following systems assessment is based on best practices identified in LIMRA research on attracting the next generation of sales talent, Generation Next. Reflect back to determine how frequently your organization practices each of the following best practices and check the corresponding box. When finished, add the point value of all your responses and use the scale at the bottom to determine your organization s effectiveness in this particular area. STRONGLY AGREE AGREE SLIGHTLY AGREE DISAGREE STRONGLY DISAGREE 1 We have a strong focus on the positive impact financial professionals can make on others We tend to emphasize the teaming aspects of the career vs. being on your own. Our recruiting process demonstrates this career is a great place to build your network. We position training and continuous learning opportunities as a benefit to being with our firm. We do an effective job of demonstrating our family culture during the recruiting process. Our firm emphasizes high touch management more than high recognition management. We communicate income stability and benefits as much as we do unlimited income opportunity. We position the career as a good place to learn about yourself and personal growth. Our firm effectively communicates how this career can provide work/life balance. We do an effective job of articulating our training and development value proposition. We do an effective job of demonstrating to a recruit how they fit into our culture. 12 We position our coaching and development systems as being part of a team Our organization shares our social media tools, resources and strategy during the process. We spend time discussing the technology we provide to increase business efficiency. 15 We involve the spouse or significant other during the selection process. 16 We do an effective job of emphasizing the variety and flexibility that comes with the career. 17 We focus on career stability as much as unlimited opportunity. 18 Our organization involves multiple people in the selection process including producers. 19 We have systems in place to identify cultural fit of a potential recruit. 20 We do an effective job of emphasizing the impact you can have in this career HOOPIS PERFORMANCE NETWORK TALLY TOTALS GRAND TOTAL 5 POINTS EACH 4 POINTS EACH 3 POINTS EACH 2 POINTS EACH 1 POINT EACH = HIGHLY EFFECTIVE 91-75= EFFECTIVE 74-46= Slightly EFFECTIVE 45-29= SLIGHTLY InEFFECTIVE 28-20= INEFFECTIVE
10 Commitment Planning: Day 1 The Definition of Insanity: Doing the same thing over and over again and expecting different results. In order to implement change, you will need to analyze what you need to Continue doing that you are doing well, what you need to Stop doing, and what you need to Start doing. CONTINUE: STOP: START:
11 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. E-Recruiting: Using the Internet to its Capacity: Ideas & Nuggets:
12 Directions: Review the topics that were discussed. Take time to talk about any ideas, best practices or nuggets you received from the session. Document these insights and be prepared to share them with the large group. Selection Process: Ideas & Nuggets:
13 Commitment Planning: Day 2 The Definition of Insanity: Doing the same thing over and over again and expecting different results. In order to implement change, you will need to analyze what you need to Continue doing that you are doing well, what you need to Stop doing, and what you need to Start doing. CONTINUE: STOP: START:
14 RECRUITING BUSINESS PLAN Reflect Back How many contracts did you end with last year? How many 1 st interviews did it take to get to those contracts? What sources did your contracts come from? Internet Referrals Career Fairs/Campus Other How many steps were in your interview process? List the amount of interviews for each step in your process from last year 1. 1 st Interview 2. 2 nd Interview 3. 3 rd Interview Accepted Contracted
15 SWOT Strengths Opportunities Weaknesses Threats
16 Leadership in Recruiting What can your senior leadership do to enhance the message about recruiting? Who can they talk to and how often? What changes would you like to implement to bring your team together and develop even more trust? Infrastructure List your recruiting team and what percentage of time are they dedicated to recruiting: 1. Name Percentage: 2. Name Percentage: 3. Name Percentage: Are you planning to add anyone to your recruiting team this year? If so, with what focus (campus, manager, inexperienced candidates, career-changer candidates)? Will you be hiring a recruiting intern this year? o Summer o Year-round What is your Value Proposition?
17 Who is your ideal candidate? How will you keep files on candidates? How will you share your productivity with other managers? o How often do you meet?
18 2016 Budget:
19 Know Your Numbers 1. Full Time Contract Goal 2. Conversion 3. # of Leads for 1 Contract (divide total leads by contracts from last year) 4. # of 1st Interviews for 1 Contract (divide total initials by contracts from last year) 5. # of 2nd Interviews for 1 Contract (divide total number of 2nd interviews by contracts from last year) 6. # of 3rd Interviews for 1 contract 7. How many more months are left to hit your yearly recruiting goal Building a culture of Referrals How can you improve your referral culture? How many contests do you have planned for this year? When? Do you prospect with staff and advisors?
20 How many recruits would you like from internal referrals sources this year? o % or number 3 questions to answer: 1. How do I plan to hold my team accountable? 2. How do I want to be held accountable? 3 Personal Referral Sourcing Strategies: What do I need to do daily to be held accountable?
21 Segment Office into tiers based on frequency of meetings: Leadership Advisors Staff Name Role Contract Commitment Frequency Owner Results-Leads 1. John Smith Manager 4 Weekly Recruiter
22 Other Sources 1. COI Development, list COI s and how often you meet with them: 1. Name Frequency 2. Name Frequency 3. Name Frequency 2. Campus, what are your 3 focus schools: 1. School: Attend career fair: BUSINESS/GENERAL AND SPRING/FALL Job descriptions up on campus site: YES/NO What agents/management/ staff attended this school: Classes to get in front of: Class: Professor: Class: Professor: Class: Professor: Student organizations to get involved with: Club/Organization:
23 Club/Organization: Club/Organization: Athletics: Team: Team: Team: Sponsorship opportunity: 2. School: Attend career fair: BUSINESS/GENERAL AND SPRING/FALL Job descriptions up on campus site: YES/NO What agents/management/ staff attended this school: Classes to get in front of: Class: Professor:
24 Class: Professor: Class: Professor: Student organizations to get involved with: Club/Organization: Club/Organization: Club/Organization: Athletics: Team: Team: Team: Sponsorship opportunity:
25 3. School: Attend career fair: BUSINESS/GENERAL AND SPRING/FALL Job descriptions up on campus site: YES/NO What agents/management/ staff attended this school: Classes to get in front of: Class: Professor: Class: Professor: Class: Professor: Student organizations to get involved with: Club/Organization: Club/Organization: Club/Organization: Athletics: Team:
26 Team: Team: Sponsorship opportunity: 3. Generational recruiting: What generation are you focusing on recruiting? What is our unified message to attract our ideal candidate? E-Recruiting What internet sources is your office using this year? Based on cost, how many contracts do you want to have from each to justify the expense? Source # of Contracts Source # of Contracts Source # of Contracts
27 Process & Selection How many steps are in your selection process? Who are your candidate meeting with and how often? o Recruiter # of meetings: o Managers # of meetings: o Agents # of meetings: o Training/Development # of meetings: o Women # of meetings: o GA/Managing Partner/CEO # of meetings: o Other: # of meetings: Assessments given during the process and why? Name o Why/reasoning? Name o Why/reasoning? If you would like to change anything about your interview process what would it be? i.e. process, assessments, length of time, interviewers, handouts, what will make you different?
28 List the owner of each part of the recruiting and selection process: 1 st meeting: o company overview: o scheduling 2 nd meeting: 2 nd meeting: o assigning homework: o scheduling 3 rd meeting: 3 rd meeting: o homework review: o compensation conversation Offer call: Pre-training: Contracting & Licensing:
29 Sample Plan Priorities Top 3 Commitment Plan Priorities: Plan Priorities Start using 2 selection tools in the process. Point Person/ who is By When? responsible Sarah Smith March 1 Revamp our internet prospecting to utilize LinkedIn to fullest capacity Tom Book April 15 Join a recruiter study group to increase recruiter COI Sarah Smith March 1
30 Top 3 Commitment Plan Priorities: Plan Priorities Point Person / (Who is responsible?) By When?
31 Recruiting Tips 1. Never be afraid to tell a candidate on the call it is commission this will increase your show rate for interviews because you can address the commission before they Google commission and get scared! 2. Keep a jar and red paper to write down the crazy stuff you hear all the time. It will be fun to look back on that every year to have a laugh! 3. No matter what, you will always have people you 5 minutes before a scheduled interview saying I don t want to waste your time, so I am going to cancel our meeting today really?? Nice heads up!! But this will get you to the next YES quicker. Stay positive! 4. Dress for the job you want, not the job you have. 5. We hire character and train on product. Would you invite your candidate to your home for dinner? If not - don t hire them! 6. Remember: It s not what you say, it s how you say it. Sometimes it s best to pick up the phone and talk to someone vs. ing. It will go a long way. 7. How many s do you get a day? How many hand written notes? Be different. Say thank you with a card, not just an ! 8. A handshake will tell you a lot about a candidate, make sure you have a good one too. If you aren t sure, ask your coworker. 9. Every recruiter and manager should always have Altoids at their desk - bad breath is bad. Gum is even worse! 10. Join a study group be committed and pass referrals! This can be a great COI for you. 11. Communicate. Talk in person and send s make sure everyone is on the same page. Actually, over communicate! 12. Look up your candidates on LinkedIn. Screen shot their picture for your case notes. You will meet with so many candidates, this will help jog your memory 13. SMILE. It is one of the most comforting things for a candidate. Show them how much you enjoy what they are saying. 14. People are googling you and your company. What does it say? Can they find you? Is your message getting across? 15. Ask your receptionist how your candidate s interacted with them. This will tell a lot about a person: are they confident? Can they strike up a conversation with people they don t know? Are they friendly? 16. I assigned a candidate homework to complete before a final meeting with the Managing Partner. The homework was: 15 market surveys and a project 100. He came in with 13 market surveys completed and 98 names on his list. He was sent home. Not only are we asking candidates to complete homework to help start their marketing plans but we are asking them to follow directions and see how coachable they are. If this candidate couldn t complete the homework that we asked and we let him move forward, that would tell him that we always make exceptions and its ok to be mediocre. Do not lower your standards. That will have many more repercussions than not offering a candidate. 17. Respect the calendar. Be on time. Don t walk into an interview 10 min late; don t walk in 10 min early. 18. When speaking with a candidate, do you use your hands a lot? Point to specific items on a paper? Do you have well manicured hands or nail polish on? If not, use a pen to point and go get that taken care of immediately! 19. Most other recruiters in the workforce take their time in getting back to candidates, or don t get back to them at all. BE DIFFERENT. Communicate often and follow up after every meeting. Always be on the candidate s radar! 20. Remember: Recruiting is FUN and can really make a DIFFERENCE. Giving someone the opportunity to take control of their own income and career path is a pretty amazing thing!
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