Hiring the wrong person can cost you up to three times the individual’s annual compensation and is a multidimensional setback.
You not only absorb the direct expense associated with recruiting, training, and supporting the new employee, but you, your clients and other employees also feel the impact of the turnover through:
- Negative effects on customer service
- Lost revenue
- Increased employee workloads
- Tarnished business reputation
- Potential lawsuits and employee relations issues
And, through a host of other issues stemming from having the wrong person on the job.
Statistics indicate that half of
Wealth management is a relationship business with your client-facing employees promoting your institution’s reputation and image with every client interaction. That’s why choosing the right employee the first time should never be left to chance or entirely placed on the shoulders of managers who may not even have a prescribed interviewing process or evaluation tool.
The decision of with whom you choose to entrust your hard earned reputation and client relationships is likely the most important decision you make in running your business.
With nearly 40 years of industry experience, KaneCarlton has a deep and broad network of highly qualified wealth management professionals. We tap that network to help you find the most qualified professionals. We specialize in sourcing wealth management leaders and executives.
However, we don’t stop with sourcing. We work closely with our clients to select and secure the best candidates; processes we find require both art and science.
Don’t leave this critical aspect of your business to chance. Work with a proven producer to help you and your firm source, select and secure top talent.