Luck Is Not a Strategy (4-minute read)
The Merriam-Webster Dictionary defines luck as “a force that brings good fortune or adversity; the events or circumstances that operate for or against an individual.” We often apply the concept of luck to our day-to-day lives…sometimes in a negative light…sometimes in a positive one. You may credit good luck when things unexpectedly go your way. Conversely, it’s rather easy to blame bad luck as a scapegoat for a lack of planning in an unfortunate situation.
In theory, the luck concept can offer a convenient explanation for the “que será, será” crowd. As we all know, in business, “what (actually) will be” is typically a result of hard work meeting preparation! This can certainly apply when building your internal team. A key point to remember is the majority of high value candidate targets are not necessarily looking to make a move. You must make an effort to find and attract them.
So, on this St. Patrick’s week, as you evaluate your own luck, we suggest that you avoid getting caught between a shamrock and a hard place with your company’s personnel situation. Ergo, here are eight quick and helpful tips to help you manage through your recruiting strategy in this busy market:
- First, verify that you are treating your current team as individuals with respect and kindness. This will help to combat potential turnover. In short, it’s typically more efficient to maintain your current team and then add as opposed to losing team members and constantly backfilling.
- Always be recruiting and projecting your brand into the candidate pool. Every meeting with every person is a possible talent evaluation opportunity.
- Take the steps necessary to consistently showcase your brand and engage with external talent pools. This can be achieved with a layering approach of attending mixers, trade shows, job boards, staying active on social media and/or utilizing dedicated professional resources.
- For most entities these days, building a Strong Digital Recruiting Presence is even more critical. The candidate landscape is shifting to an ever more tech friendly world.
- Encourage Word of Mouth amongst colleagues and clients and vendors.
- Periodically evaluate your existing team to look for needs and/or glaring weaknesses. This may help you stay ahead of the curve when strategic recruiting opportunities present themselves.
- When you do engage, proceed with transparency and urgency…Time Kills All Deals!
- Prepare for Counteroffers when soliciting new talent! If you offer, counteroffers will likely come, so be prepared with your response and develop your own policy for coping.
Another area to really take hard look at is your organization’s size, scope, and available resources. In a general sense, A one size recruiting strategy rarely fits all. The truth is, if your group is maybe on the smaller side, you may not be able to always compete on salary/benefits with some of your larger competitors. So, what can you do to better position your team in terms of recruiting talent? The short answer figure out a way to change your recruiting game and incorporate some of these flexible strategies which may highlight some unique flexibility often afforded by a smaller firm.
- Maybe offer customized Work/Life flexibility.
- Consider Phantom Shares, Employee Stock Ownership Plan (ESOP) or Profit Sharing.
- Offer Paid Parking/Team Lunches/Gym Membership/Cell Phone/Game Tickets as an internal perk.
- Capitalize on the current remote trends and use policy flexibility to your advantage when attracting talent.
Simply put, you must adapt to remain relevant. If personnel issues have you suffering from March Madness and you can’t seem to find that pot-o-gold candidate no matter how many rainbows you chase, try keeping these helpful hints in mind. With a little planning and adapting you should have your team seeing a lot more green.
Should you have any questions, please feel free to visit our website www.andersonbiro.com or call (866)-688-7199 and one of our team members will be happy to hear your thoughts.
Anderson|Biro is a full-service, Executive Search firm dedicated to the Financial Services sector around the country. We source talent to service all aspects of the Land Title Insurance, Settlement, and Appraisal industries. We offer quality solutions for clients in these primary fields and beyond. Our candidates are screened for specific industry experience, outstanding track records, and values that complement your mission and culture. We have also built successful partnerships with leading Homebuilders, iBuyers, Fintech, Servicers, Law Firms, Real Estate Brokerages, and Lenders with direct or indirect stakes around the real estate closing table.