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Article: For Managers Only: Time to Grow? By Steven Finkel

Is this a good time to add to your firm? For many firms struggling to stay afloat in a less-than-good market, the answer is clearly no. But for others, it may make a lot of sense. The facts are that a very high proportion of long-term successful recruiters started in a slow market. While it is true that they did not achieve overwhelming initial success, they did develop the habit patterns needed to be excellent producers when the market improved. For those firms with a long-term mindset and a few other qualities, adding to staff now may make a lot of sense. .

Let’s examine this possibility and some related topics as well.

How’s Business?

Is there movement in your market? A new person will not produce the same billings in a slow market as in a hot one. Nevertheless, there is a clear difference between a generally slow market and a near-dead one. 

If you are concerned about the viability of your firm, adding to staff is the wrong way to go. On the other hand, if things are just not great, tell your new recruiters that the habit patterns they must develop to “get by” in a slow market will mean strong production in the coming good one. Warn them that short-term success is unlikely, but that an excellent long-term future is a very different story.

Can Your Niche Stand Expansion?

Presuming you are the owner/manager of your firm, is there room in your existing niche or closely related sub-segment of it for another person?

For a manager to supervise the opening of a completely new desk with little personal knowledge of the market or terminology the new recruiter needs to know is not easy in a strong market. In today’s market, your ability to understand, develop and guide a new recruiter in a completely new desk is extremely questionable.

If there is no sub-segment of your own field where a new person can start, you may be better off not attempting to break totally new ground in a recession.

Room for two more people?

It is frequently thought that by hiring one person at a time, you increase chances of success. That thought process is usually incorrect. What is likely instead is that the manager will keep the wrong person too long, having invested substantial time and money in him, knowing that if he terminates the new hire, all of this will be wasted.

A preferable choice is to hire two people at a time. By doing so, you will take perhaps 20% more time to develop and supervise – but chances of your efforts yielding a successful new person will be increased by 100%! Moreover, should one of them fall well behind in expected results, you will feel free to do the right thing, knowing your training time has not been wasted.

Is Your Training Program Good?

Many managers in our industry are quite successful based on a combination of personal talent, hard work, and longevity. The problem is that none of these are transferable, though hard work can certainly serve as a model.

Rather, what is needed, at least initially, is a structured organized procedure consisting of valid topics to cover, and clear examples of correct methodology.

The most comprehensive step-by-step (and low-cost) program is the 300-page hardcover book by noted trainer Larry Nobles, Search and Placement! A Handbook for Success, available at his website or on Amazon US. If your firm is based on a strong and serious recruiting model, the author’s 10-module DVD series The Art of Recruiting should also be considered. 

Articles on implementing any training material may be found at www.stevefinkel.com. In particular, see “For Manager’s Only! The Most Cost-Effective Training” (home page) and “From Knowing to Doing! How to Implement” (“read articles” screen).

Qualifications

In addition to whatever qualities you seek in a new recruiter, a stronger sales orientation in a less-than-strong market than in a good one is a wise idea. New people will receive far more initially negative responses from both candidates and clients in a slow market. A sales background or strong sales orientation will better enable them to both overcome such objections and to persevere, with less discouragement.

Stronger financial support and less need for immediate success is also beneficial. In a poor market, you must focus on the long term. A new recruiter who “needs money” in such a market is much more likely to fail due to the additional stress that is put upon him. 

Screening

The biggest problem any manager has in selecting new recruiters is determining who is willing to dedicate himself to learning this business. “The world is full of willing people,” wrote Robert Frost. “Some willing to work … and others willing to let them!” Figuring out who is who will make an enormous difference in success ratios, especially in a recession.

Here’s how you find out. Give the new prospect the afore-mentioned book Search and Placement! A Handbook for Success before he starts to work. Tell him to read, highlight or underline it. If he doesn’t do it – and isn’t prepared to ask some intelligent questions – don’t hire him!

In a slow market, hard work is needed. Someone not willing to do it is unlikely to succeed.

Do You Have Time?

Developing recruiters is a time-consuming process, and believing you can reduce that investment by hiring experienced people almost always turns out poorly. Developing new people properly is a much better idea. Short-cutting the investment of training time, supervisory time and the cost for serious training material, however, is not fair for the new person or to your firm.

So …

We still have a long and difficult road ahead, despite what you may hear from the overly-optimistic mainstream media. Adding to staff in a recession is not for everyone, and there is certainly more risk involved. Nevertheless, in the right circumstances, it can effectively position your firm to take full advantage of the strong market that will definitely again occur, even if it is well ahead of us.

Steve Finkel is a veteran of 30 years and 6 Recessions in our industry. Referred to by The Fordyce Letter, America’s major newsletter, as “universally regarded as our industry’s leading trainer”, he is the producer of many excellent training products. His newly-revised 380-page hardbound book, “Breakthrough!”, designed for experienced recruitment consultants and now listed on Amazon US, is the best-selling book in industry history. For information, access his website at www.stevefinkel.com or call 314-991-3177.

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