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Is the best person for the team someone exactly like you or just someone who believes in the business? In this episode, MDRT members share their insights on staffing.<br><br> You'll hear from:<br> Nguyen Le<br> Crawford McGill, CFP, AAMS<br> Renato Alarcon<br><br> If you'd like to subscribe, find us on iTunes at MDRT Podcast. <br><br> The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal information and is not liable for errors or omissions. You are urged to check with tax and legal professionals in your state, province or country. The MDRT also suggests you consult local insurance and security regulations and compliance departments, pertaining to the use of any new sales material with clients. Copyright 2016 Million Dollar Round Table.
An industry staffing coach, Farasati will lead a lively discussion focused on four staffing challenges: 1. Who do I hire next: an operations person or associate advisor? 2. How do I design a simple bonus plan? 3. How do I get an employee with a performance issue back on track? 4. How do I develop, compensate and retain a protégé? Farasati will share her most effective tools and provide on-the-spot coaching for your staffing questions. Participants will leave with simple templates and confidence to deal with their staffing opportunities.
Learning to handle conflicts with clients and staff can make your business stronger.
How do I develop, compensate and retain a protégé?
From ditching ties to more frequent feedback, it's possible to create a culture shift.
Valuing culture as much as compensation, advisors seek non-monetary approaches to engaging staff.
Skills can be learned, but behavior and attitudes are shaped over a lifetime. Those can't be changed. Focus on hiring for attitude.
Use a solid game plan to achieve a more productive workplace.
Coaching vs. micromanaging to bring out the best in staff
Design a simple bonus plan
If you're doing everything yourself, it's probably time to look into adding staff.
Paterson describes her practice for hiring employees and gives an outline for how you should manage your staff.
Reduce turnover and encourage your staff with authentic appreciation
A family business involves different emotions between coworkers and potentially a different kind of teamwork. In this episode, MDRT members discuss the benefits and challenges of this type of practice, and the importance of paying attention to the goals and perspectives of non-related staff as well. <br><br> You’ll hear from:<br> Adam Blumberg, CLU, CFP<br> Matthew Joseph Murphy, EPC<br> Ana Sofia Rodriguez, MBA<br><br> Episode breakdown:<br> 0:28 – The extra layer of feelings with family<br> 0:54 – Showing non-related staff there are still opportunities for growth<br> 1:56 – What it was like to be a non-family member in a family business<br> 3:43 – Envisioning when parents/mentors/colleagues retire<br> 6:10 – The structural lessons provided by family companies<br> 8:11 – Making non-related partners collaborate like family
Strategies for success in a family business, and for guiding clients who are in a family business.
