BH's Employer Connection: February's Employment Report Released!
Published: March 10 2015
Click here to receive the Employer Connection by email!
Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Financial Services positions reflected little change from the previous month.
In brief, the financial services and insurance sector is plateauing. This milestone represents the continued growth and exit pattern of the industry. While many companies are not yet expanding their recruiting and training programs, recent reports predict a shift as retiring baby boomers exit and incoming talent falls short of filling their positions. Read More
SAVE THE DATE FOR THIS UPCOMING EVENT
Thursday, April 2, 2015, at 2PM Eastern
BROKERHUNTER University Session 12: Advanced Blogging - Creating an Engaged Community of Top Financial Advisors
This session will explore the best ways for a financial service company to implement a blogging program. A program that minimizes its impact on the day-to-day work of those employees who are blogging and maximizes its credibility and appeal among top financial advisors. But also, a program that provides a sustainable platform for promoting the company's culture, values and career advancement opportunity. Register here!
BRANCHPAC: THE 300 PROJECT
Numbers don't lie.
There are only about 320,000 Financial Advisors nationally and over 160,000 Securities Branch offices in the US competing for this very finite pool of Financial Advisor talent.
Will you reach the talent you need to own your market?
The BranchPAC 300 Project is designed for branch offices serious about recruiting producers and who want to own their market! This program is limited to only 300 branches nationwide, so go to BranchPAC.com to see if there is still availability in your area.
TIPS FROM BROKERHUNTER
Retain, Reward, Retrain
Are you recruiting only once there is an opening to fill? Waiting to search for talent until the last minute will increase your rate of unsuccessful hires. To increase your personal performance and company revenue, there are 3 R's that will help you: Retain, Reward and Retrain.
Recruiting is only one piece of the employment cycle, and without a complete employment cycle, your recruiting efforts will always fail. Therefore, you must strive to retain employees. Commitment to proper onboarding is critical, especially for financial advisors. The onboarding process and ease of transition will form the prospects first and most critical opinions of your company.
Once settled into their position, employees can dip in performance if a reward is not in sight. Reward? Yes, the transition was hard enough (and not all offer bonuses), so the next reward must be attainable and provide the employee the motivation they need.
The next step is to retrain. The landscape of the industry continually changes and so must your employees. Through retraining your employees, you are investing in them. You are giving them a sense that you value their efforts and see them as an asset. One of the biggest benefits of retraining, as an employer, is to not have to recruit for new talent. And perhaps the best part of the cycle is, that if done correctly, your current employees will draw new employees into your company and contribute to lowering your recruiting cost.