CHAMPION CHAT
Joseph Walsh
Sales Coaching, Training and Consulting for the Voluntary Benefits Industry| Keynote Speaker| Building Sales Culture| Certified Maxwell Leadership Coach, Speaker and Trainer|Referral Generation and Prospecting Coach
Happy Thursday Voluntary Benefit Champions!
In this edition of Champion Chat we are going to talk recruiting. Now most of you are not going to like my next statement. The internet has made managers in our business lazy recruiters! Why do I say that? Well statistics back me up. In my humble opinion there are a few ways to source recruits:
So where do the best recruits come from? LIMRA (Life Insurance Marketing And Research Association) conducted a study of the viability and sustainability of these sources and here is what they found:
Internet Resumes took an average of 27 contacts to get one Candidate. It took 17 candidates to get one agent licensed and contracted. 1 in 36 contracted lasted in their position for 12 months while 1 in 482 lasted 5 years. To me that's an awful lot of work for poor to mediocre results, yet it is the number one way agencies recruit! Terrible and lazy!
Nominations took an average of 7 names to get one candidate. It took 6 candidates to get one agent licensed and contracted. 1 in 13 agents contracted lasted 12 months and 1 in 112 lasted 5 years. This makes sense because you and the agent have a vested interest because someone you know or the agent themselves recommended this person. To me this is a no brainer to put in your recruiting repertoire, yet only 11% of managers do this!
Personal Observation took an average of 15 names to produce a candidate. It took 9 candidates to get a single agent licensed and contracted. 1 in 18 agents lasted 12 months and 1 in 156 contracted lasted 5 years. This is not as good as nominations, but it beats the hell out of cold resumes on the web.
Social Media took an average of 19 contacts to get one candidate. It took 14 candidates to get one agent licensed and contracted. 1 in 14 agents contracted lasted 12 months and 1 in 108 lasted 5 years. Now social media takes longer to generate candidates because you have to make the connection, nurture the connection (usually an average of 5 months) and then convert the connection. This method is time consuming, but in my opinion it is worth using these sites to help you generate candidates.
As most of you know, I have 64 coaching modules that I have developed for use with my clients. Below is one of those modules.... Sourcing 101. This module talks about how to source recruits to build your team. After you read it please leave your thoughts and opinions in the comment section or send me a message here on LinkedIn with your thoughts and ideas.
Lastly, through the end of September, I am offering to help you and your team at no charge. I will conduct a complimentary workshop on zoom for free. Now, you probably think that this will be 5 minutes of material and 55 minutes of me hammering you and your team to purchase something..... WRONG!!! During a 60-90 minute workshop I present 2 one minute commercials. The rest of the time I am helping your team with concepts, ideas and scripts. If you would like to book a complimentary webinar on a topic you choose, reach out to me and we will hop on zoom for 30 minutes to discuss it. You can text or call me at 708.870.7306....email me at [email protected] or click on my calendly link:
Folks, look at my recommendations here on LinkedIn. I conduct 3-4 complimentary workshops monthly and in the past 5 years have never gotten negative feedback. Why? It's because I spent 33 years doing what you and your agents do and I was quite successful. Now my mission is to help everyone I can succeed in helping employees protect themselves and their families.
Enough about me and my business.....let's get to recruiting!
SOURCING 101
Discussion Questions
? What are the top 10 characteristics of your successful producers?
? What is your value proposition for candidates?
? Do you have an accurate written description for: The agent position? The management trainee position? The manager position? Internships?
? Do you know how to recruit agents who can prospect and sell better than you?
? How many candidate names do you get weekly from members of your team? (Ideally 2-3 per team member weekly): Centers of influence? (5-6 per week) Personal observation? (5-7 per week) Social Media? (15-20 per week)
?Do you use interns to round out and grow your team?
Key Concepts
? Stronger candidates come to you through agent nominations and referrals.
? Sourcing candidates through personal observation makes better recruits.
? LinkedIn and other social media platforms are a great source of candidates.
? College interns are a great source of help and recruits for your team.
5 THINGS TOP PRODUCERS WANT IN AN OPPORTUNITY
According to Gallup’s “State Of The American Workplace” report the top 5 qualities successful people look for in a new opportunity are:
1. The Ability To Do What They Do Best – Most candidates are looking for an opportunity that will allow them to help others and focus on something they are good at.
2. A Quality Work/Life Balance And Greater Well-Being – Respecting your team member’s personal time and illustrating how your organization offers them the opportunity to spend quality time with their families will attract top candidates.
3. Greater Stability And Job Security – If you reward people who are productive, positive and believe in the mission of your organization you will show them that you are just as loyal to them as they are to you.
4. The Opportunity To Earn A Significant Income – Most candidates want the opportunity to earn what they need to live the life of their dreams and build a future.
5. The Opportunity To Work With A Company With A Great Brand Recognition Or Reputation – Promoting your organization’s vision and mission will attract candidates who believe in the same principles and values you promote.
SOURCING TALENT
The four most effective ways to source recruits are:
1. Nominations
2. Personal Observation
3. Social Media
4. Referrals From Centers Of Influence
These are all handled and approached differently. Some are short term solutions, and some are long term. Nominations and Referrals usually take a bit less time, while Social Media is playing the long game. Let's look at each and how they are approached. Nominations Very few agents maximize their compensation. How does that play into this discussion? Actually, it is a cornerstone of team growth. The 7 companies I primarily work with all offer a financial reward for recommending someone and in turn that person getting contracted. In most cases the compensation is between $500 and $1000. I know that doesn't sound like a lot but let's look at a scenario.
Every week you should be holding a personal conference with each agent on your team. Part of this personal conference is the act of each agent providing you with nominations for potential recruits every week.
Where do your agents get these?
1. People they meet.
2. People they know.
3. People they meet and know through organizations they belong to.
4. People they encounter while living their life.
Additionally, after an agent is working with your organization for 60 days you give them a nomination 100 form to complete. This is a process where they go through every facet of their life (past and present) and look for people that may be a good fit for the career opportunity. Part of this form is a memory jogger so the agent can look at every facet of their life for candidates. This memory jogger is designed to get them to look deep into their contacts. When the agent provides a nomination, they provide a name, phone number, e-mail, and a golden nugget. The golden nugget is a piece of information that is why the nominating agent respects and admires that candidate. Additionally, it can be a unique fact about the nominee.
Let's look at the numbers through the first year of an agent’s career.
200 Nominees:
Nomination 100 List and 100 Weekly Nominations (2/week) 100 Interviews:
50% will come to a group presentation or interview. 60 Start Pre-Contract: 60% begin pre-contract. 40 Complete Pre-contract: on average1/3 will not complete pre-contract 30 New Agents on average 1 in 4 will decide to pursue other opportunities $15,000 Recruiting Bonus: 30 x $500/contracted recruit. By this logic the agent makes $15,000 their first year and $7500 in subsequent years by helping recruit 15 new agents annually.
Agents benefit greatly from nominating:
1. Compensation
2. Part of a winning team that's growing.
3. Exhibit being a team player.
4. Can lead to advancement into management.
Personal Observation
Personal observation is where you as a manager look when you are out and about with a watchful eye for candidates to recruit. For example, you are out to dinner and have an exceptionally courteous friendly and hardworking server. This is someone you can approach.
Sample Script
Hello, my name is ___________ . First I want to thank you for the outstanding service you gave me. I’m curious, do you enjoy what you do? Well I am a manager with (company name) , and I have a career opportunity that may interest you. This career opportunity is a great fit for outgoing hardworking people like yourself. I don't have time to talk right now but I was wondering what's your name? May I call you tomorrow or the next day to give you some information on our career opportunity? What’s your cell phone number? Email? May I call you tomorrow or would the next day be better? What time works for you? Great I'll send you an email and call you on ____________ at _______________ .
This script can be adjusted for any situation or circumstance. By doing this you learn to be on the lookout for potential agents while you are out at your child's events, church or community organizations, or any and all the places you go.
Most people don't know this but 71% of sales people find their career opportunity on LinkedIn.
? It is a platform designed to connect professionals.
? It is a platform where if you’re active, you make a lot of connections as well as develop a reputation.
? The platform allows managers to communicate with connections or post various things.
o Accolades for their team
o Opportunities
o Information
o Interactive polls
SOCIAL MEDIA 101
Build an effective profile.
? First and foremost, talk about what you do for other people and how you do it. Your profile must be interesting and eye-catching.
? It must be the right blend of information about you, information about what you can do for others who come to work with you, and the use of eye-catching things.
? Videos with text
? Pictures
? Block text with emojis and bullet points instead of paragraphs.
? Emojis
I've built my profile, now what?
? Make connections, not everyone is a connection.
? Get active.
? Post
? Recruit - At Champion Coaching and Training we have two modules in which we cover social media. We could spend hours on how to use LinkedIn, Facebook and Instagram but today we are providing an overview.
Making Connections
Who do you connect with?
? Friends
领英推荐
? Colleagues
? Relatives
? Salespeople
o retail
o insurance
o car sales
? Former teachers
? Retired or retiring military.
? Former coaches
? Retired nurses
? Former health care workers
? Human resource professionals
Getting Active What does being active on Social Media mean?
? Engaging people in a subtle way
? Wish connections happy birthday. Expand upon the canned auto message LinkedIn provides. ? Congratulate those getting new positions. Expand upon the canned auto message.
? Congratulate those with a work anniversary. Expand on the canned auto message.
? Everyday review the home page and comment on posts don't give likes… be different!
? Look for groups where you can find candidates.
Posting
Get in the habit of posting two to three times per week.
What to Post?
? Congratulatory messages with pictures about your team
? Holiday messages. New Year's Day, President’s day, MLK Day, Valentine's Day, Saint Patrick's Day, Easter, Memorial Day, Independence Day, Labor Day, Halloween, Thanksgiving, Hanukkah, Christmas.
? Industry news and tidbits
? Polls
? Videos
? Career opportunities Recruiting Passive
? Post your opportunity.
? Creative posts
? Motivational quotes and messages.
Being Active
? Reach out to people you want to talk to
? Conduct a weekly career presentation using LinkedIn live.
o Typically, it should last one hour.
o Do it at lunchtime or late in the day for the best attendance.
o Have people sign up so you can capture their name e-mail and cell phone.
o The idea is to create interest and draw them into the recruiting process.
o Endorse and give recommendations to others as well as ask for them.
Recommendations
Social Media is a long game, and it will take one month to six months to create interest and draw people in depending on how active you are.
? Log on to each social media platform 2 times each day ideally early morning and evening
? Spend 30 to 45 minutes each time. ? Have a plan and refine it.
? Answer every message you get. ? Focus on your goal and be disciplined.
? The more active you are the better your experience will become.
? Utilize all the LinkedIn and Facebook features available.
? After it starts working look into upgrades to LinkedIn Premium or Sales Navigator
CENTERS OF INFLUENCE
Who Are They?
1. Prominent people in the community Reverend, Pastor, Imam, Rabbi or any faith leader a church, mosque, temple or synagogue. CPA’s Community Officials Attorneys Officers or board Members of an organization, social club or chamber of commerce
2. Relatives
3. Friends
4. Clients or key members at a company
5. People in your niche market
What Process Do You Use?
1. Connect with them on social media (LinkedIn and Facebook are best)
2. Look over their connections.
3. Identify potential candidates they are connected with.
4. Set up a meeting.
5. Explain the career opportunity to them.
6. Give them a description of your ideal candidate/recruit.
7. Ask them for referrals.
8. Feed them the qualified names from their social media profile.
9. Obtain contact info.
10. Explain what a recruiting event is and ask if you can hold one at their office, church etc.
11. Thank them.
12. Report back during each step of the recruiting process.
13. Set up subsequent meetings to obtain additional candidates.
ACTION ITEMS
1. Draw up a recruiting plan that includes you using: Nominations
? From agents on your team ? Personal Observation
? LinkedIn ? Job Fairs ? College Candidates
? Personal Observation Centers of influence Personal Observation Social Media
2. Write a description of the career opportunity.
3. Use the scripts in the addendum pages to approach candidates.
4. Meet with all the current members of your team and; talk to them about giving you nominations weekly Making a list of potential candidates
5. Make time in your schedule to recruit using personal observation.
6. Make a list of potential centers of influence and follow the process listed in that section.
7. Plan and hold at least one recruiting event monthly.
Recommended reading
? 60 Days to LinkedIn Mastery by Josh Steimle
? The Ultimate LinkedIn Profile by John Nemo
? Recruit Rockstars by Jeff Hyman
Conclusion
Folks If you look back the post that this newsletter is attached to you will find the recruiting tool I call THE NOMINATION 100. Please use this tool this coming week.
In closing let' all choose evolution over revolution! I want you to evolve your recruiting rather than rip the bandaid off and stop using internet resumes. Today make the pledge to change how you recruit by using nominations, social media and conducting personal observations to source candidates,
So get out and let's get recruiting!