Staffing is often cited as the No. 1 challenge for advisors looking to build their businesses. Many cite hiring a good assistant or junior advisor as one of the best moves they ever made.

The right assistant can keep your office organized and free you up to do what you do best: interact with your clients.

But a staff member who is a bad fit can make costly mistakes and create conflict with staff and clients. “It poisons the culture,” says David Evans, an advisor with Bradford Financial Services Inc. in Kamloops, B.C.

Shannon Waller, director of new program development at the Strategic Coach in Toronto, believes in removing as much of the human element — such as our inability to filter out unnecessary judgments or our susceptibility to being charmed — from the hiring process. For example, Kolbe Corp. , a Phoenix-based psychometric-profiling company, will create a profile for a specific position for US$360. Assessing each applicant will cost another US$49.95.

But, Waller notes, this can save thousands of dollars in hiring mistakes.



A FEW HIRING TIPS:

> Know what drives you. Although we might know intuitively what our strengths are, Waller recommends advisors take psychometric profiles themselves to understand exactly what they require in a new hire. You can access these tests through job coaches or consultants.

> Profile candidates early on. “If you talk too long about what you need, some people will skew the answers,” Waller says. If someone has a solid resumé and doesn’t show up at the interview in pyjamas, a profile might be the best next step, she adds.

> Use additional tools. Waller recommends taking profiling a step further by focusing on job-seekers’ strengths rather than their weaknesses. She suggests having candidates do something as simple as writing a proper letter in the hiring process.

> Use the hiring tools consistently. It’s against the law to discriminate; consistency is also useful because it provides a clear snapshot of what motivates job candidates, says Waller.

> Get emotional. In an interview, ask questions designed to elicit emotions: what do you love to do; what work do you hate? A candidate might be suited to a particular task, but that is only part of the picture. “Look for what makes people’s eyes light up,” Waller says.

> Keep quiet. This is a tough one for many advisors, who are used to controlling client meetings, but it is necessary for that very reason. “Advisors are used to selling, and they’re good at it,” Waller says. “The trick is to let the other person sell you.”

—WENDY CUTHBERT