Finding and hiring the best people for your organization is critical to growing a vibrant company and fostering a productive culture. However, the process is not easy; it includes some common traps and pain points that companies must address to successfully find talent.
In helping hundreds of companies find, select, and hire great talent, T3 Talent, a division of T3 Sixty, has found four common obstacles most brokerage companies encounter. We outline them below, along with strategies to overcome them.
Obstacle No. 1: Time
Finding and hiring great talent takes care, a strategy, and time.
We see this scenario frequently. A company lets an employee go or an employee leaves, and instead of taking the time to find a great candidate, it quickly hires a replacement without conducting a proper search. This significantly increases the possibility of a bad hire.
To successfully address this, companies should first approach hiring as a long-term investment and prepare to spend the time and effort required. This ensures a proper commitment to the process and a much greater likelihood of success. If they need work done in the meantime, firms can outsource to bridge the gap while they find the right hire.
Obstacle 2: Undefined hiring criteria
Without a defined hiring process, properly assessing candidates becomes difficult and can increase the risk of confirmation bias. Hiring decisions made primarily with feelings can lead to human resource headaches and a very costly mistake.
While the hiring process can be subjective, it is important to collect a set of information that you can use to compare candidates in a standardized way. This typically requires establishing a clear set of defined evaluation criteria.
Obstacle 3: Not looking ahead
Finding and employing great people does not happen by accident: It takes diligence, a plan and awareness of the immense value they bring to an organization. Organizations often fail to keep this in mind. Finding great talent is not a one-off activity, but a daily practice.
Companies can prepare for talent opportunities by keeping tabs on, and building relationships with, talented professionals. They can keep a running list of those they would love to hire should the opportunity arise.
Obstacle 4: No succession plan
We often see growing companies who fail to think about the leadership and staffing ahead of when they need it. This hampers their momentum and sometimes derails their upward trajectory.
When building an organization, leaders who define its necessary structure at different stages of growth know the roles they need fill and when. This means identifying what the company’s leadership team will look like in the future, which allows companies to hire managers and directors who may grow into these leadership positions.
This setup helps firms attract better talent, as the new additions see how they can grow with the company. Talented individuals want a career path, and this increases the likelihood that the investments companies make in people will pay off in the long run.
Regardless of where companies find themselves, they should maintain an ongoing focus on finding and hiring talent. If they put a process in place and grow their overall hiring skills and develop talented individuals inside their firm, they will realize a competitive advantage and build a strong culture. Like any investment, a strategic approach will greatly improve the impact. Nothing will affect your business more than the people you bring into your company. If you’re looking to establish a smart hiring process or find a great hire, set up a free consultation with T3 Sixty’s head of T3 Talent Kelly White at email@example.com.