One Hundred To One

FINANCIAL PLANNING BUSINESS OWNERS – Do you struggle to recruit the next generation of great Advisers and Planners for your business?

If the answer is ‘YES’ – then don’t worry because when I ask this question…

NEW ENTRANTS – ‘Are you struggling to find a Financial Planning firm to take you on and train you up?’

The answer is also ‘YES’.

Which is a bit of a paradox really isn’t it?

Well, not really – it’s about the 1️ in 100 grit rule.

‘What’s that Neil?’, I hear you cry.

OK, 99% of business owners when asked about their efforts to find the perfect candidate, will say they’ve done some recruitment and interviewed several people—sometimes 10, 20, or even more!

That’s not enough.

And 99% of potential candidates who say they are interested in joining the profession will say that they’ve ‘looked into the qualifications and maybe even purchased the R01 study book.

That’s not enough.

Only about 1 in 100 candidates have the grit to put in the study hours on weekends and evenings to earn their qualifications while learning an entirely new career.

Many of them also take a short-term pay cut along the way.

Similarly, only 1 in 100 business owners seems to have the determination to develop a proper recruitment process.

This process should include advertising, discovery presentations, assessments, role plays, and interviews.

Each component must be robust enough to sift through the 99 candidates lacking grit. The goal is to identify that one exceptional candidate who stands out from the rest.

Grit is the demonstration of gumption and stamina to see something through – even when there is no guarantee of a reward at the end.

Saying that you’ll study the qualifications if someone else is paying you to do so is easy.

Studying the qualifications off your own back to prove to someone you haven’t met yet that you’re worth investing in is hard.

Hoping that the right candidate will walk through the door and prove themselves worthy is easy.

Putting a robust recruitment and assessment process in place that proves they’re worthy in advance, is hard.

Grit is what you need to recruit and grit is what you are recruiting for – the rest you can train.

But you can’t train grit.

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