I’ve reduced my team by 75%, which brought my team down to myself and five recruiters. Since the beginning of the year the floodgates have opened and we have more searches and contracts than we can cover.
During the past two years, I’ve put more of my personal money into my business than I care to admit. I’m hesitant to hire because I’m the top producer of my firm and who knows if this influx is going to last. Do I take the chance and hire or do I wait and see what the next few months will bring and then make a decision. It’s frustrating seeing the money we’re losing by not being able to cover our orders.
Melissa C., Madison, WI
I have experienced five downturns in business and it is always the following two or three years that are strong. I guess the question has to be, “Can you afford not to hire if you are losing business?” All indicators are pointing to the fact that business is improving worldwide and trends are in our favor.
If you do decide to hire, you need to focus on attracting experienced sales people who have a track record of high performance. If someone has done well for another employer, they will do the same for you. Just make sure you don’t overpay when you hire. Base the majority of your compensation package on performance.
If training is not the best use of your time, of course I would suggest that you preview our Top Producer Tutor, which takes training off your desk so you can focus on production! Just contact my office 219.663.9609.
You need to review your revenue and bottom line for the past six months to determine if your budget allows for a new hire. We have seen more hiring in the past three months than we have in the past twelve months, which is a good indicator of the confidence being felt by the owners in our profession.
Barbara J. Bruno, CPC, CTS
Would you like to Ask Barb a question? Email her at firstname.lastname@example.org. Each month in The Fordyce Letter print edition, Barbara Bruno answers questions from individuals in the Recruiting Profession. We will bring you some of these Q&A responses from Barb each week on FordyceLetter.com.