Picture this – You’ve just welcomed a new recruit aboard, brimming with hope that they’re the missing puzzle piece to your team.
Fast forward a few months, and that hopeful spark has fizzled out.
Maybe they’re struggling to pick up the pace, or perhaps they oversold their capabilities. Worse yet, it’s clear they’re just not meshing with the core values and dynamics of your team.
The hard truth hits you: They won’t last. And it stings financially, too—parting ways with a poorly fitting team member can bleed upwards of £100K from your firm’s funds, considering the costs of recruitment, induction, training, and their salary.
A pricey lesson indeed.
Here’s my advice on how to avoid a situation like this ever happening:
4 Keys To Lasting Hires
Start at the Starting Line – Recruitment.
It’s no shocker—better retention is rooted in smarter hiring. If your team’s turnover rates are spiralling, it’s time to revamp your recruitment playbook.
Finding the Right Recruitment Partner
Your recruitment ally should be fluent in the language of your industry and have a proven track record. Whether it’s the particular niche, volume, or level of talent you need, make sure they boast a robust network and a deep understanding of your sector.
Here’s the inside scoop – recruiters juggling multiple clients can only dedicate a fraction of their resources to each. And trust me, they save their best candidates for their exclusive clients—don’t let that be your competition!
An exclusive recruiter is a dedicated recruiter. They have the incentive to dive deep and deliver a curated list of top-tier candidates to you, their top priority.
Encourage active candidate engagement during the application process. How? With inventive steps like video introductions, behavioural assessments, and thorough questionnaires.
The dedication a candidate shows here can be quite telling of their future commitment.
Behaviour is King
Remember the old adage—hire for skill, fire for behaviour? It’s about time we flipped that script. Conduct behavioural assessments early on.
Better yet, benchmark these traits against your standout employees to find new hires who not only fit the job but the fabric of your firm as well.
The Bottom Line
Bad hires are more than just a hiccup; they’re a significant setback. But with these pointers, you can pivot towards a hiring process that doesn’t just fill positions temporarily—it fortifies your team for the future.
Interested in diving deeper into these strategies, or perhaps you’re eager for a collaboration that will enhance your retention rates?
Let’s connect and discuss how we can redefine your recruitment process, ensuring each new hire is not just an addition but a lasting asset to your mortgage business.
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