Welcome to our Newsletter! In here I will attempt to address some of the common concerns and questions that arise in the selection and hiring of good people in our industry. And today's tip: Are you ready to catch the wave?

A down market can come from lots of reasons, from the economy, local or national, from wars, disasters of all kinds. But, unerringly, I will see more and more of my clients getting ready to address the rise in business as the market turns, and companies begin to loosen their own purse strings, maybe hire a few key people. In that process, the tendency is to find someone quickly who can cover the desk, maybe even run a branch, get up to speed ahead of that wave. But therein lies the difficulty with hiring in a hurry. We are constantly reminding Manager, that, yes, you need to move quickly on a great profile, before someone else picks them off, but if the profile is marginal, there is no hurry. Period. True, you can start the training aspects as we point them out in your PEAC SYSTEM read, but you might be better off to stall the marginal and make a push for the more stellar player. And, then, if no one else shows up, you will know what to do with the one you settle for...

Remember the costs. One of the standard complaints is that even the marginal player, running tight in their own finances, need more base or salary to take the job. My philosophy has always been, and I have helped develop a dozen companies to multi-offices, to pay as little as possible (your limits, not mine) in salary or base, and a great commission plan to encourage the work. Now, of course, the individual with no experience in your marketplace is not going to be very excited about that. In those cases, where there is a start up period, I suggest a three month window of higher base, minimal commissions, and then, put that person under very careful accountability. You see, all you do when you overpay, even for a short while, is raise your costs, especially if you lose that person in the first half year.

By the end of three months, they should have developed a steady work ethic, doing the activities that will lead to production, and they convert to the lower base and much higher commissions.... And, of course, if they don't produce much, that keeps your costs down.

One of the advantages of a low base, high commission structure is the possibility of hiring a team of two, one who might be very good at sourcing, searching the boards, maybe relationship building, and the other, working closely with him or her, bird dogging the jobs and helping to fill. The costs, then, work out about the same. But trust me, you have to pay them the same way, because, like it or not, they will talk... And, of course, you need the PEAC SYSTEM to identify potential teams, or standalones who can function in any down market and rise into the coming better one. Let us help you. We are ready to catch the wave, right along with you!

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George W. Tucker, MS
        - Consultant-
The PEAC SYSTEM, INC

Finding 'Em, Training 'Em and Keeping 'Em

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