There are plenty of asset management road blocks to hurdle if you want your business to be successful long-term. However, perhaps the most important yet most challenging road block to deal with is lack of personnel or lack of the right personnel. Many companies are not able to take business to the next level because the few good executives they do have are doing two or even three jobs to make up for lack of personnel. Another common problem is underperforming executives who cannot be let go because there is simply no one to replace them.

If you find yourself facing either of these two problems, consider the tops outlined below. They have the potential to revolutionise the way you look at the hiring process and help you pick the person for any job opening you have.

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Consider the Position

Make a clear list outlining all the responsibilities that the new employee would need to handle. This will help you see what type of person you are looking for. However, a side benefit to this exercise is that you can consider which jobs really do need to get done. Perhaps you can distribute responsibilities to existing employees without overloading them. Alternatively, listing the job responsibilities for the position may help you to see that you need to hire two or even more candidates to ensure that the work gets done and the business is able to grow as it should.

Consider Your Present Employees

Are you sure you do not have anyone in your company who can handle the job vacancy? Consider all your options before looking for an outside candidate. Be creative; you may need to reshuffle the deck a bit and train a number of people to handle a variety of duties. The advantage of choosing an in-house candidate is that you have someone who knows how your business operates and will thus need only minimal training.

Consider in the Market Job Candidates

As the name implies, in the market job candidates do not even know they are job candidates yet. They are people who are currently working for other companies, be they competitors or companies in a similar industry. In the market candidates are typically experienced, take initiative and most importantly are successful in doing the work they were hired to do.

Naturally, it is not easy to recruit an in the market candidate. That is why we use a comprehensive, nine step process to draw up a job description, find potential in the market candidates that could fill the role and then narrow down the selection until you find someone who not only can do the job but is happy to work for you. Nonetheless, the extra work and effort involved in finding an in the market candidate is worth it.

Is lack of the right personnel one of the asset management road blocks your company is facing? If the answer is yes, it is time to address the problem head on. Consider the above points at length and if you need help finding the right person for a particular job, feel free to get in touch with us at your convenience.

Download Our Free Report Blasting Through The Big 3 Asset Management Road Blocks Now!