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One Hundred To One

18 March 2023

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 what activity they have done to find their perfect candidate, will say that they’ve ‘done some recruitment and interviewed several people. Sometimes ten or twenty or 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.

You see, only about 1 in 100 candidates will have the grit needed to put the study work in on weekends and evenings to get their qualifications whilst learning an entirely new career – and probably taking an initial short-term pay cut along the way.

Only 1 in 100 business owners seem to have the grit to put the work in to develop a proper recruitment process which involves advertising, discovery presentations, assessments, role plays, and interviews that is robust enough to be able to sift through the 99 non-grit candidates to find the 1 in 100.

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 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 of the job 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 in order to recruit, and grit is what you are recruiting for—the rest you can train.

But you can’t train grit. – Software, Training & Business Services for Financial Planners.


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