Make a plan
According to executive search and recruitment firmLaughlin Executivesconsultant Carol Connolly, the first thing to do is to develop a strategic recruitment plan.
“In many cases people spend more time researching and planning their holiday than researching and planning for their next role”, Connolly says.
“It is important to set goals and objectives which are continually reviewed, and as part of this you should ensure that you are utilising a variety of recruitment strategies.”
Get talking
As well as doing the usual things like making contact with recruitment firms and monitoring the Internet and media for employment advertisements, it is important to start networking.
Director of financial services search firm Abacus Leading Solutions Toby Marshall says the more contacts you have, the more chances you have of being discovered.
“Go to conferences, not just for the educational content, but for the networking. Meet the principals and planners in other dealer groups and get yourself known in the industry. Word of mouth is a very powerful tool.”
Connolly also notes that this will help you to access the hidden job market — jobs that are not advertised or filled by recruitment firms.
“However, make sure you use your network, not abuse it, as in many instances you will be required to do business with your contacts in your next role,” says Connolly.
Do your research
In the same way that employers search for the right candidate for the job, you must also search for the right job for you. Think about what you require in a job, and what you would like your next career move to be. As well as increasing your industry presence, contact with other planners will also help you to research and assess the market.
“Talk to other planners, talk to other dealer groups, think about what differentiates dealer groups and where you want to fit into that,” Marshall says.
According to Marshall, planners often take what they have at one dealer group for granted. Levels of paraplanning support, software, or even expected working hours differ from one place of employment to the next. Don’t be afraid to spend time researching your options, and avoid jumping at the first job that you are offered. You have choices, so take them.
Be realistic
You must also keep in mind that you may not get exactly where you want to be straight away, so be realistic. Often it will take two or three steps within a role or company before you can reach your ideal position. Stay focused on the bigger picture and be patient.
Use your time wisely
While it is important to be thorough in your research and ensure you are making the right decision, there is a danger of letting time slip away from you. If you have free time, use it effectively to avoid feeling useless.
“Put on a suit, come to the city and visit a friend who is working, keep up-to-date on the industry and the economy,” Laughlin Executives consultant Simone Mears says.
Don’t waste time with recruitment firms if they can’t prove to you in the first five minutes that they know your model of working and how best to service you. Remember that the first mandate of recruitment firms is to service their client, not find you a job. Don’t assume that by talking to a recruitment firm you are handing over your job search. You may waste weeks.
Market yourself
It is a competitive market, with many people selling the same skills. Connolly advises against talking in general term on your resume, providing quantifiable examples instead.
“If you have exceeded budgets, decreased costs, increased productivity, or sales, say so using the relevant statistics,” Connolly says.
If you can fill a niche, or provide a specialised service, you will stand out from the crowd. Headhunters are usually searching for somebody specific, so if you have a particular talent or area of interest, promote it.
Be prepared
Don’t do all the hard work to secure an interview only to fail in the last stages. Be prepared with an up-to-date resume, and prepare answers for questions that recruiters will ask. According to Mears, many employers will expect you to undertake a skills test to assess your financial planning knowledge. These assessments can often be very challenging, and it is essential that your technical skills are up-to-date. “The planner is expected to have the necessary qualifications as well as technical expertise, and they must also be good at building relationships with clients,” Financial Recruitment Group managing director Judith Beck says. “Most recruitment specifications call for a CFP with DFP as the absolute minimum.”
Stay positive
Most importantly, remember to take care of yourself in the process. It may take time to find a role, which can have adverse effects on your personal well being.
“Finding a role in today’s market place can sometimes be very frustrating and demoralising. It can also feel very personal when the third rejection letter comes through the door or yet again you have not made it through to the next interview stage. It is important to remember that it is not a personal slight. Your experience has not become worthless overnight. Recognising that there will be days when frustration will be the dominant emotion is part of the process,” Connolly says.
To fight against frustration, ensure that you maintain your exercise routines, friendships, and personal hobbies. This way you will remain highly motivated, focused and positive, and be the best candidate for your prospective employer.
