Which came first, the chicken or the egg? This reminds all organizational leaders and sales managers of this age-old conversation around recruiting and selection. Which has more of an effect on new adviser productivity and retention? Apparently, recruiting and selecting top quality individuals is the first step towards developing a productive company, but ongoing training and development are equally as crucial to a new adviser’s success.
The Expectations Matrix
In the heart and soul of new adviser growth systems are clearly defined expectations. The largest source of frustration in our private and professional life is unmet expectations. Therefore, it is crucial that we clearly define what we expect from a new adviser and what they can expect from the organization in regards to continuing support. Expectations should be quantifiable and objective, clearly communicated, and agreed upon. Expectations should be put around the following three variables:
- Professional Expectations would be the soft things that define your own culture. Professional expectations address issues such as proper dress code, prompt attendance at all meetings, compliance, personal responsibility.
- Activity Expectations are objective expectations which are described as what it means to do it the association’s way. Activity expectations involve factors such as a certain number of fact finders a month, referrals weekly, average balanced efficacy points per quarter.
As we begin to establish expectations around professionalism, productivity and activity, you need to make certain to limit the amount of expectations in each category. As a best practice, you need to establish one to three expectations in each category.
Over three expectations in any one category will make overload on the part of the agent and the supervisor. Establishing 1-3 expectations about professionalism and action defines what it means to do it the association’s way. Establishing 1-3 expectations about productivity defines what it means to be making it in the organization. Thus, a new advisor is either doing it communicating with influence association’s manner or not doing it the association’s way and making it in the company or not making it in the company.
Thus, the minimal acceptable expectations are 60 Qualified Suspects, 15 Fact finders and 80 Balanced Efficiency Points a month. Any adviser who falls under at least one of the three minimal acceptable expectations is not doing it the association’s way. To put it differently, they are not achieving the minimum Task Expectations to be considered a Quadrant I adviser. This adviser is instantly determined a Quadrant II or Quadrant IV advisor, depending on if they are making it in the business Quadrant II or not making it at the business Quadrant IV.