Every time you pick up a trade paper or listen to the industry jungle drums these days, there’s news of yet another industry high flier moving on. It’s beginning to look like the football transfer market. Head-hunters must be raking it in, perhaps not on the scale of football agents but there’s good money being made. But before I look at how to attract the right person into your business let’s analyse what makes someone a valuable commodity.Sticking with the football theme, most followers of the beautiful game know top managers (Rafa Benitez of Liverpool, for example) buy players who have proven records. The theory of the track record is that if they have done it once they can replicate it elsewhere. This is all part of risk management as not many want to gamble on unknowns, though some will take a chance on potential (a Peter Crouch type). So the experienced person should boost your bottom line. How can you compete when it comes to capturing the services of the person of your choice? A good starting point is to pre-empt why the chosen one may want to leave their existing position – location, salary, bigger company etc. But one thing you may have overlooked is an equity stake. It doesn’t matter what size your target’s company is, it may not have what they crave – a stake and a say in policy. You could provide the thing they want – an equity stake. But before you offer the crown jewels to a stranger ask yourself some searching questions such as “Can I work with this person?” and “Do I really want to give up total control?” If you carry out an exercise that shows what financial benefits the candidate might bring to the table you will get an idea of their true value. For example, if the appointment means your company will grow by 100% and gain higher net profits and a bigger share of the market, that would be a result. However, if the same financial forecast shows lower net profits and little or no change in market share, think twice. To attract the right person, draw up a remit of what you expect from any prospective appointee and match this with who you have in mind. Approach that person direct or through a third party for an informal chat. The chat should be based on a question and answer session that must include the question, “What would you want to join us?” This direct approach is easier than the cat and mouse game that is the norm. Once you know what it will take to land your man, consider whether or not you will get value for money before you make an offer. Good hunting and I hope you get the person you want.
Skandia Investment Management Limited has appointed the leading property specialists LaSalle Investment Management in an exclusive partnership to run a global property securities fund to be launched on October 3 2005. The fund will be called Skandia Global Property Securities Fund. This unique partnership brings a world-class global property manager to the UK retail market […]
Zurich Intermediary Group has refreshed its mortgage network proposition. A diverse panel of lenders together with exclusives such as Bristol & West’s first start mortgage have been chosen. Also available are a range of new benefits, competitive proc fees and free access to sourcing software. With the addition of 16 lenders, the total now available […]
Research by the Intermediary Mortgage Lenders Association earlier this year has revealed that many lenders have seen little value for the substantial costs to consumers from mortgage regulation.These research findings triggered IMLA to conduct further research, this time among the intermediaries that provide IMLA members with most of their mortgage business. This additional research has […]
This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.
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