FPA Dealer Principal Conference – Skip agency for staff

Running an information evening for new staff has proven more successful than using placement agencies, says Greg Gunther of Gunther Doyle Financial Planning.

One information evening his company ran for a para-planner produced 15 responses.

"The evening was on a Friday at 6.30 as a test of their commitment. Two never turned up," he says.

At the end of the evening they were given a letter requiring them to outline their achievements and how they would meet the job criteria. The response had to be back by Monday morning and Gunther admits that thinned out half the group.

One question in the letter asked what the candidate thought they would be earning in five years. Most gave a conservative answer however, one said she wanted to earn $75,000 a year.

Gunther says she eventually got the job as she had the greatest vision and commitment.

The firm's experience with placement agencies had been variable, due to their lack of understanding of financial planning.

Better results were achieved with a head-hunter as the selection process was more rigorous, says Gunther.

Gunther Doyle also takes work experience business/financial planning undergraduates from the local university. "The results from this move are too early to determine, but we have seen some good candidates," he says.

The firm also awards a $1500 scholarship to a final-year undergraduate and hopes this will be a good source of staff in the future.