Search Results

Next Item Previous Item Go back to White Papers List Whether new recruits or those who have been at their job for a while, passion remains one of the biggest drivers for making sales. When agents and advisors are passionate about their job and passionate about helping their clients, they close more sales. As an owner or manager, the single most effective way you can begin to ignite passion and purpose in your team is through your attitude. If you are excited, positive, and supportive, you will see the same kind of attitude from your producers. Creating a culture of passion and purpose is so vital to the health and success of your business, so you need to make it a priority. Some things you do to start the fire and keep it burning include: Implement a Mentorship Program Mentoring relationships at your firm or agency are symbiotic; they help ignite passion and purpose in new and seasoned agents or advisors alike. Sometimes finding your sales groove in a new position takes a while, and new recruits can become frustrated with low sales and little money. Experienced pros can offer the support and encouragement to make it through the learning curve, as well as provide some tips and tricks of the trade. The one-on-one relationship also provides an opportunity for a mentor to give pointed feedback to help a new recruit overcome obstacles. Agents and advisors who have years of experience sometimes hit slumps, go stale, or develop bad habits. When they are assigned to help a new agent or advisor, it helps keep them sharp and maintain a sense of purpose. Provide Sales-focused Reading Materials You might find your top producers are book nerds who read every sales book they can get their hands on. This isn’t always the case, especially with young recruits. They haven’t read Who Moved My Cheese? and classics by Robert Cialdini, Zig Ziglar, and others. Provide your financial professionals with copies of your favorite sales-related reads. These types of books are typically written in a way which makes a salesperson greatly identify with the topics. They usually aren’t dry, which can be a drawback with some training materials. Additionally, people learn in different ways and they need to hear things repeated multiple times, in multiple ways, before it sinks in. Good books about sales repeat many of the messages you want your agents and advisors to hear and get them excited about a new and fresh presentation. For those nonreaders of the group, audio books are available to ignite similar excitement and passion. They can listen and learn while in the car, in the gym or whenever they have the time. Utilize Outside Coaching Your financial professional, especially the newest ones, will commonly obtain coaching through you and possibly a mentor. Sometimes new associates and seasoned pros might get defensive. You can give them some of the same messages and help them tackle selfdefeating behavior through outside coaching. If you aren’t internally reaching your agents and advisors, they might be more receptive to an outside coach. It’s not likely Dan Sullivan or Tony Robbins will be available to speak at your agency or firm, but you can bring in a proven outside coach, or have them attend conferences and events for personal growth. You can find speakers and coaches who focus on specific aspects of sales, but you can also find other adjacent topics focusing on personal growth, teambuilding, public speaking, and much more. Coaching, events, and conferences provides additional opportunities to improve their skills, by developing new methods and insights on growing their practices while remaining passionate about their jobs. Gaining New Insights and Passion from Study Groups Study groups have become an integral part of the value proposition of many successful firms. They are an effective retention tool, as well as a valuable resource in helping experienced associates grow, once they have mastered the basics. There are many reasons study groups are effective for retaining experienced associates. These group often provide unique opportunities to collaborate with other highly successful people. Collaboration opportunities encourage joint work between associates with complementary expertise, which could open new doors for all parties involved. As an example, one participant may have access to a key decision maker but needs the expertise of another member to close the deal. Collaborative opportunities also can benefit both parties and help them to grow their business. Sometimes these partnerships encourage associates to develop specialties that can differentiate their business from their competitors. Study groups are also an opportunity for experienced associates to learn from some of the industry’s most talented individuals. No matter how successful they are, study group participants know they can learn even more by spending time with their peers. In fact, many will thrive on being held accountable to apply new approaches or hit production goals, with the bonus of learning new and creative ways to build their business. Set Attainable Goals for Your Agents and Advisors The power of goal setting has been studied and written about ad nauseam, because setting goals works! Whether choosing to live a healthy lifestyle, training for a marathon, or selling insurance and investment products, those who set goals and write them down are more likely to achieve them. When people achieve their goals, they get a sensational feeling of accomplishment, igniting passion and purpose for them to keep reaching. This also means they are making money, and everyone is happy and driven when the commissions are rolling in. Business owners and managers who set unattainable goals for their associates are doing them and their business a disservice. Instead, use goal setting to continuously inspire your entire team to do their best. Give Recognition for a Job Well Done Some leaders subscribe to the idea that they should motivate their salespeople by fear. Fear is a strong motivating factor in many individual’s personal and professional lives, but it certainly doesn’t ignite passion and purpose. Everyone likes a pat on the back now and then when they’ve done well. Take the time to recognize good performance. This can be as simple as a “good job” when someone lands a client they have been chasing for a while, when they help a new recruit, or when they have done an exceptional job cross-selling. You can also do more formal awards such as presenting plaques, offer a gift card, or qualification for special events for a job well done. In any case, when you show your agents and advisors you notice and appreciate their outstanding performance, you will take leaps and bounds towards igniting passion and purpose throughout your entire organization. Implement an Open-Door Policy Many employers claim they have an open-door policy, but it isn’t always the case. You will be meeting with your agents and advisors about goals and performance, and to provide some personal coaching. You should, however, make it clear that your associates can talk to you too. You should especially encourage them to come to you about ways you can support them and any workplace issues they might be experiencing. Be mindful to set boundaries, so you don’t discourage individual problem-solving, which can reduce productivity, and, make sure to listen without distraction. When your team feel supported, they will want to do a good job for you. Creating Passion and Purpose for Different Age Groups Passion and purpose are the common denominators for success at the things we attempt and accomplish. Those with any background can demonstrate a high desire for purpose and an exceptional level of passion. As much as we are alike, we are also different. Our personal characteristics and life experiences form the things which inspire us. Managers and owners of firms who want to ignite passion and purpose in their existing team members and new recruits cannot use a one-size-fits-all approach. Instead, learning about the ‘hot buttons’ of our team members and recruits is just as important as learning about the ‘hot buttons’ of clients. Age is just one factor which can impact the things which ignite passion and purpose in all team members. As your business continues to grow, you will likely have financial professionals from a variety of age groups. An agent’s or advisor’s motivations change during different periods of their life. In the last decade or so, management consultants and other human resource experts have focused on generational differences between the Baby Boomers, Gen Xers, and Millennials. While it isn’t prudent to tie up your entire human resources approach in age and generational differences, and you don’t want to create any biases towards a specific age group, you should consider how core values and preferences about rewards impact your approach to create and maintain passion and purpose in each individual person. Core Values Research about core values among different age groups and generations is plentiful and inconsistent on broad topics. When you dig a little deeper and investigate the relationship between core values and recognition in the workplace, the differences become clearer. In a Ladders poll of more than 55,000 employees, the survey asked respondents about which types of things motivated them in the workplace. Older and younger generations agreed that words of appreciation and quality time were more important than tangible gifts for motivation. Yet, they disagreed about the specifics within each category. Here are some examples from the “Quality Time” category: Millennials remain more interested in team projects than older generations because they like spending time together to achieve final results/ goals. Baby Boomers and older Gen-Xers don’t mind working in teams, but their ideal process is less collaborative. They meet, delegate, and complete tasks individually. Older generations value quality time with their direct supervisor more than with their coworkers, whereas younger generations would rather spend time with their coworkers. You can apply these insights to create a culture of passion and purpose at your agency or firm by mixing up your approach to recognition. For example, you might buy lunch for your entire team after they meet their monthly goals. Another month, you might choose to individually take top producers out for a special lunch to give them some encouragement. Reward Preferences Goal setting is a common way to create passion and purpose for your agents and advisors, but the reward which accompanies those goals needs to vary based on generation. Yes, you need to treat everyone equally, but you can easily change up the rewards, so that you hit all their hot buttons in order to keep their passion and purpose at the forefront. Of course, everyone regardless of age, wants to make a decent living, pay their bills, and support their family, but money alone is not always the way to keep them passionate about helping clients and rewarding them for a job well done. Everyone is different and not everyone fits into broad generalizations made by academics and consulting firms. General reward recognition patterns for each generation may provide some insights. Here are a few of them: Baby Boomers are career-focused, goaloriented, and likely the most competitive out of all your team members. Research shows they value monetary rewards more than anything else. Often described as workaholics, Baby Boomers also appreciate peer recognition for their achievements. Generation X team members have the reputation for being slackers, but doesn’t every generation criticize those that come after them? Research does not support the slacker theory, but it does show that Gen-Xers thrive in achievement-based workplaces. They believe those who do the best work, should get promotions and rewards, not those who are oldest or have the most seniority. Gift cards, supervisor recognition, and flexible schedule options remain some of the most preferred rewards for members of Generation X. Generation Y associates, often referred to as Millennials, have grown up hearing that social security will be gone by the time they hit retirement age. This generation is all about mentoring programs, feedback loops, and a positive culture at work, but stock options might be the best monetary reward you can offer Gen- Yers. Like the generation before them, Millennials also respond well to supervisor recognition and flexible work schedules as rewards. Generation Z associates unlike generations before them, prefer social rewards more than monetary rewards for a job well done. The youngest generation is a group of techsavvy multi-taskers, who love passion projects, meaningful employment, and taking on additional responsibility. It’s fair to say that some of these characteristics might be more attributable to age than generation – eager, young, idealistic college grads out to change the world. Generation Z expects flexible work schedules, so it’s unlikely you have any members of Generation Z unless you have already offered them flexibility. Reward Generation Z through mentorship, constructive feedback, and including them on any special client projects which you might be working on. Contact Hoopis Performance Network to Create Passion and Purpose for Different Groups When you take the time to know your team members individually, learn about their values, and understand their reward preferences, you can go a long way in creating passion and purpose for each of them, which benefits the entire workplace culture at your firm or agency. HPN provides knowledge and skills training for management, producers, and staff in the financial services industry. Whether you own or manage an insurance agency or an investment firm, we want to give you the tools you need to successfully grow your business in a competitive industry. Contact us today for your training and education needs and to learn more about how to create passion and purpose for individual team members as a part of different groups, with varying life experiences and backgrounds. Igniting Passion into Your Firms Culture

Next Item Previous Item Go back to White Papers List To ensure that your child with special needs receives the best possible care in all aspects of his or her life, it’s important to do thorough, advance planning. In this white paper, we cover 3 important types of planning: Medical planning — How can you best obtain and pay for the specialized medical care your child may require? Who will oversee your child’s medical care when you’re no longer here? Financial planning — What steps can you take to guarantee that your child will have a financial safety net? What financial aid is available? How should your assets be arranged to best provide for your child’s future financial needs? Education planning — What steps can you take to make sure that your child receives the best possible education? Legal planning is another critical topic to be knowledgeable about. Please see our white paper titled “Legal Planning for a Child with Special Needs” for details on this topic. Now let’s look at important elements of medical, financial, and education planning. Medical Planning The medical treatment required for children with special needs can be expensive, often beginning at or shortly after birth. Without insurance, the cost of medical care is staggering! As a starting point to figure out what types of benefits are available, consult the Social Security Administration’s 2019 guide titled Benefits for Children with Disabilities. Here are some other important factors to consider: If You Have Private Health Insurance: Make certain you understand what the policy will and will not cover, particularly regarding any specialized services, equipment or therapy. Make sure you obtain prior authorizations, or you could end up paying the bill. If your coverage is provided through a health maintenance organization (HMO) or preferred provider organization (PPO), confirm that the specialists your child needs are part of the network. Understand when you can seek out-of-network care and what the cost will be to you. If a claim is denied, get a written explanation of the reason…you may want to appeal and resubmit the claim. Request that a case manager be assigned to your child. That will enable you to work consistently with someone who is familiar with your child’s situation and needs. If You Do Not Have Private Health Insurance: Check with your county social services or Social Security office to determine what assistance is available. Medicaid is a health-care program for people with low incomes and limited assets. In most states, children who get SSI (Supplemental Security Income) benefits, qualify for Medicaid. In many states, Medicaid comes automatically with SSI eligibility. In other states, you must sign up for it. Also, some children can get Medicaid coverage even if they don’t qualify for SSI. In addition, the State Children’s Health Insurance Program (SCHIP) enables states to insure children from working families with incomes too high to qualify for Medicaid, but too low to afford private health insurance. Your state Medicaid agency can provide more information about SCHIP. When Your Disabled Child Turns 18: Medicaid benefits are payable based on the child’s own assets and income, even if he or she is still living at home with you. Health-Care Reform: The Patient Protection and Affordable Care Act of 2010 (health-care reform) has several provisions that can impact medical/insurance planning for your child with special needs. By no later than September 23, 2010, all young adults under age 27 may be able to continue health-care coverage through a parent’s policy. Here are some other provisions you should be aware of: Effective no later than September 23, 2010, individual and group health insurance plans are prohibited from using pre-existing condition exclusions for children and cannot place lifetime limits on the dollar value of coverage. Also effective in 2010, insurers cannot deny or rescind coverage of insureds who become sick. As of January 1, 2014, insurers are prohibited from placing any annual limits on the dollar value of coverage. As of January 1, 2014, most U.S. citizens and legal residents are required to have minimum essential health insurance coverage. Insurers cannot deny or cancel coverage to anyone with a preexisting condition. Health insurance premium subsidies are available to eligible individuals and families with incomes between 100 percent and 400 percent of the federal poverty level (e.g., $25,100 to $100,400 in 2018–19 for a family of four). Individuals with incomes of less than 138 percent of the federal poverty level qualify for Medicaid coverage, unless the state in which they reside opted out of the Affordable Care Act Medicaid expansion. As of January 1, 2019, the penalty assessed to individuals who fail to maintain minimum essential coverage is $0. Financial Planning Financial planning is important for any family, and it’s even more critical for the families who have a child with special needs. Planning well in advance enables you to take advantage of the benefits of compounding interest over time and to ensure that your assets are all in the right place. You don’t want to jeopardize your child’s ability to receive public assistance. Government Benefits: Supplemental Security Income (SSI) benefits are payable to adults or children who are blind or disabled. SSI supplements a person’s income up to a certain level, which varies from state to state. In the case of disabled children under age 18, the parents’ income and assets are considered when deciding if the child qualifies for SSI benefits. Beginning at age 18, SSI benefits are determined based on the disabled person’s income and assets. As a result, a child who was not eligible for SSI before age 18 may become eligible at age 18. To qualify for SSI benefits, the disabled person cannot have “countable resources” (assets) in excess of $2,000 or “countable income” in excess of the maximum federal benefit rate. In the case of ABLE Accounts, discussed below, the first $100,000 in an ABLE Account will be disregarded for SSI benefit purposes. Additional financial resources are available through state and community programs. Consult with the appropriate federal, state, county, and/or local agencies for assistance. Other Financial Considerations: A Special Needs Trust The purpose of a special needs trust is to provide financial assets for your child’s future care and well-being, while maintaining his or her eligibility for government benefits, such as Social Security, Supplemental Security Income, Medicare, or Medicaid. Please see our white paper titled “Legal Planning for a Child with Special Needs” for detailed information on this topic. The Achieving a Better Life Experience (ABLE) Program The Achieving a Better Life Experience (ABLE) Program is designed to help individuals and families use taxfree savings accounts to help finance their longer-term disability needs, without the loss of federal benefits if savings exceed certain limits. The earnings on contributions to ABLE Accounts will not be taxed, and the funds in these accounts will not be considered for the Supplemental Security Income (SSI) program, Medicaid, and other federal means-tested benefits. However, if an ABLE Account exceeds $100,000, SSI benefits will be suspended but not terminated. To be eligible for an ABLE Account, an individual must become blind or disabled before age 26 and (1) receive Social Security Disability Insurance (SSDI) or SSI or (2) file a disability certification under rules yet to be written. Anyone, including the disabled individual, may establish an ABLE Account for an eligible beneficiary. An eligible disabled individual, however, will be limited to one ABLE Account, and total aggregate annual contributions to that account may not exceed the annual gift tax exemption ($15,000 in 2019). Because ABLE contributions are treated as gifts by the contributor for tax purposes, if a donor puts the maximum $15,000 in an ABLE Account in 2019, any other gifts to the beneficiary will trigger the requirement to file a gift tax return. No gift tax will be due in 2019, however, unless the donor has already made more than $11.4 million in lifetime taxable gifts. In addition, Section 529 Plan assets may be rolled over to an ABLE account, up to the maximum annual gift tax exemption ($15,000 in 2019). Both accounts must have the same beneficiary or be related to a member of the same family. Contributions to an ABLE Account will be made with after-tax dollars, but earnings on contributions will be tax-free, and distributions from the account for qualified disability expenses will not be considered taxable income to either contributors or the eligible beneficiary. Qualified disability expenses include any expenses made for the benefit of the disabled beneficiary related to education, housing, transportation, employment training and support, assistive technology and personal support services, health, prevention and wellness, financial management and administrative services, legal fees, expenses for oversight and monitoring, and funeral and burial expenses. Distributions used for nonqualified expenses will be subject to income tax on the portion of the distribution attributable to earnings from the account, plus a 10% penalty. Assets in an ABLE Account can be rolled over, without penalty, into another ABLE Account for either the qualified beneficiary or any of the beneficiary’s qualifying family members. At the death of the qualified beneficiary, it may be required that any assets remaining in an ABLE Account be used to reimburse a state Medicaid agency for the cost of benefits and services provided during the disabled beneficiary’s lifetime. As a result, an ABLE Account should not be considered a wealth-accumulation mechanism. Education Planning Undoubtedly, you want your child to receive the best education possible. To assure this outcome requires that you become your child’s advocate and a participant in his or her education plan. The first step is understanding the education laws that apply to children with disabilities. Here is an overview of 3 related laws. 1. Individuals with Disabilities Education Act (IDEA) The Individuals with Disabilities Education Act requires that children with special needs receive the following: A free appropriate public education from ages 3 through 21. Education provided as close to home as possible, with children who do not have disabilities. Additional services, such as speech therapy, occupational therapy, or a classroom aide, which are designed to meet their unique needs and prepare them for employment and independent living. An assessment to determine their needs. The law guarantees two types of assistance: Individualized Education Plan (IEP). The IEP is a written statement of your child’s abilities and impairments. It is developed by a team that includes you, school district personnel, and educational professionals who have evaluated your child and his or her abilities. The IEP must be reviewed at least annually. Due process. As a parent, you have both rights and responsibilities in relation to your child’s IEP. Due process provides a mechanism to resolve any disagreements regarding a child’s IEP. Under IDEA, for a child to be eligible for special education, he or she must have issues in at least one of the following categories: A serious emotional disturbance A learning differences Intellectual disability Having had a traumatic brain injury Being diagnosed on the spectrum of autism Vision and hearing impairments Physical disabilities Developmental delays (including speech and language difficulties) Other health impairments Before your child approaches age 22, you are advised to have a plan in place to address the issues that are sure to arise as he or she transitions out of the public education system. Depending on the nature of your child’s disability, this plan can include additional educational or vocational services, work, or ongoing rehabilitation and medical services. Planning for these needs requires that you conduct research years before your child reaches age 22. 2. Section 504 Section 504 is a civil rights statute (1973) that requires that schools not discriminate against children with disabilities and provide them with reasonable accommodations. It covers all programs or activities, whether public or private, that receive any federal financial assistance. Reasonable accommodations include untimed tests, sitting in front of the class, modified homework, and the provision of necessary services. Typically, children covered under Section 504 either have less severe disabilities than those covered under IDEA or have disabilities that do not fit within IDEA. Under Section 504, any person who has an impairment that substantially limits a major life activity is considered disabled. Learning and social development are included on the list of major life activities. 3. The Americans with Disabilities Act (ADA) The ADA (1990) requires all schools, other than those operated by religious organizations, to meet the needs of children with these differences or disorders. Under the ADA, children who qualify cannot be denied educational services, programs, or activities, and the law prohibits discrimination against all such students. Many children with special needs are of average or above-average intellect. There are many colleges whose programs might be appropriate for your son or daughter. If he or she can obtain a college degree, it will greatly enhance employability. Further Help and Advice As you know, parenting a child with special needs has its own unique set of joys and challenges. While you are undoubtedly the foremost expert on your child and his or her needs, desires, and future aspirations, it can be a daunting task to undertake special-needs planning on your own. Because of the specialized nature of special-needs planning, it is wise to seek out professionals (attorneys, trust officers, financial advisors, etc.) who have experience in the special-needs planning process. Guidance counselors, special education professionals, and other parents with special needs children can also be great resources to connect with. In addition, there are a variety of organizations that provide assistance to people with disabilities and their families. Here are just a few examples: The National Dissemination Center for Children with Disabilities (NICHCY), an acronym derived from its original name, National Information Center for Handicapped Children and Youth) operated as a national centralized information resource on disabilities and special education for children and youth ages birth through 21 years, sponsored by the U.S. Department of Education. National Association of Parents with Children in Special Education (www.napcse.org ). This organization offers parents of children in special education information on how to be their child’s best advocate. eParent (www.eparent.com ). This website is written for families of children and young adults with disabilities and special needs. Parents Helping Parents (www.php.com ). The mission of this parental resource center is to help children with special needs reach their full potential. A Final Note The planning process shouldn’t stop as your child gets older. As he or she ages, so do we. There are certain issues we all need to address regarding our final arrangements. It is most helpful to your family members if pre-planning and/or prefunding of your own final wishes are set in place when you feel it is appropriate. We also want you to know about a unique feature of the Social Security System that occurs when a parent of a disabled child or adult applies for retirement benefits. As part of the interview, you will be asked if you have a disabled child. The good news is that a “yes” answer provides that child with an additional income stream of Social Security benefits from your retirement income. The bad news is that it also complicates the situation because it eliminates the opportunity for the child to receive SSI and Medicaid benefits directly. Depending on your child’s disability, Medicaid benefits might be particularly important. Medicaid, for example, will pay for home aides for your child, while Medicare will not. Be sure to check…additional Medicaid benefits might be available through your state Social Services Division. Medical, Financial, and Educational Planning For a Child With Special Needs

Next Item Previous Item Go back to White Papers List When budgets get cut, training is sometimes one of the first casualties. And if training survives the cut, often it includes training for just the salespeople. But it’s just as important to train your sales leaders. Because of cost restrictions, very few organizations have created management development programs. That means most companies do not have a formal plan for how to train and lead others. Sales leaders have been neglected for decades because most companies invest in training their sales force, but few have formal training and development programs for their sales leaders. Most Sales Leaders Receive Little Formal Training The American Society of Training and Development (ASTD) conducted a study that revealed some somewhat surprising facts: Only 11 percent of companies have a formal plan to train their sales managers to a high extent. Another 22 percent of companies do not have a training program for their sales managers at all. And 66 percent train their salespeople on how to improve their selling skills at least once a year. If you want to build your sales steadily with sustainable momentum, invest more in training your sales leaders how to do their jobs. This is especially true if you have promoted a star producer into a management role. He or she probably received a lot of training in sales technique but is expected to move into management with no preparation for learning an entirely new skill set. How can a company expect to get great results from its field-management teams when little effort is made to train them in how to do their jobs? There is no DNA cell that delivers great leadership skills from one generation to another. No one is a naturally born leader. Leaders are developed and trained. The Skills Your Sales Leaders Need Managing a sales team requires a specific set of skills. Expecting sales leaders to do their jobs well without training can create frustration and burnout. Providing them with the appropriate training sets them, and your company, up for success. Seek out training that will help your sales leaders do the following well: Recruiting, interviewing and selecting producers who have great potential and fit the organization’s culture Recognizing each salesperson’s unique talents and optimizing them for the benefit and success of the individual, sales team and agency/firm Ensuring synergy among various ages, genders, cultures and selling styles on the sales team Coaching salespeople in prospecting, setting appointments, selling and closing Teaching veteran producers how to mentor junior producers Being a change agent who can lead the entire sales team in a direction the company or agency/firm needs to go Using the company’s resources wisely Keeping up-to-date on industry trends, regulatory changes and technology updates In Summary When you train your sales leader, it makes a positive impact on the entire sales team, not just that individual. Investing in training for your salespeople only is like watering half your garden. Consider Hoopis Performance Network for Management Training One effective resource for training new or experienced managers is HPN, an innovative virtual platform designed for financial leaders who are building a region, an agency or firm, a sales unit or a sales team. You can get access to hundreds of high-impact sessions for all levels of experience, divided into five distinct elements of success. These sessions are short and easily digestible, averaging less than 10 minutes. Your managers can access the video training anytime, anywhere, on their computers, smartphones or tablets. Train Sales Leaders, Not Just Sales Associates

Best Selling Author, Performance Coach Jason Selk Best Selling Author, Performance Coach While serving as the Director of Mental Training for the St Louis Cardinals, Dr. Jason Selk helped the team win their first World Series in over 20 years, and in 2011 he assisted the Cardinals in the historic feat of winning their second World Championship in a six year period. Dr. Selk is a regular contributor to Forbes, INC, Success, Shape, and Self Magazine; ABC, CBS, ESPN, and NBC radio and television; and has been featured in USA Today, CNBC, and Men’s Health. Dr Selk’s second book, Executive Toughness, is a best-selling business book and his first book, 10-Minute Toughness, is on pace to be one of the best-selling sport psychology books of all time. Dr. Selk is considered to be one of the premier performance coaches in the United States. He helps numerous well- known professional and Olympic athletes as well as Fortune 500 and Fortune 100 executives and organizations develop the mental toughness necessary for high-level success. Dr. Selk utilizes his in-depth knowledge and experience of working with the world’s finest athletes, coaches and business leaders to help individuals and organizations outperform their competition. Dr. Selk works with such clients as professional athletes in the NFL, NHL, NBA, PGA, LPGA, MLB and NASCAR. In addition, he works with such business clients as UBS Financial, Edward Jones, Wells Fargo, Northwestern Mutual and Enterprise Holdings, to name a few. Previous Speaker Go back to Speaker Network Next Speaker

Next Item Previous Item Go back to White Papers List Ancient Chinese philosopher Confucius expressed his belief in the importance of learning from interaction when he wrote, “I hear and I forget, I see and I remember, I do, and I understand.” There are no shortcuts when it comes to being successful, just as there are no shortcuts when it comes to gaining knowledge and understanding. Why We Must Get Training Right The training you offer can distinguish your firm or agency from others, which in turn can help you attract top talent. This is one area in which you just cannot take shortcuts. According to the 2018 Deloitte Millennial Survey, about 8 in 10 millennials say that on-the-job training, continuous professional development and formal training led by employers will be important to help them perform their best. Employer training and support quite obviously help millennials and the Gen Z cohort perform their jobs, and as their careers progress, the role of employer as educator will take on even greater significance. The study noted that 73 percent of those who plan to stay with their organizations more than five years say their organizations are strong providers of education and training. But young professionals are looking for training that goes beyond technical and sales skills. Young professionals are especially seeking help building confidence, interpersonal skills and— particularly for Gen Z—ethics/integrity aptitude. In their view, businesses are insufficiently focusing on nurturing these and similar soft skills. More than one-third of millennials (36 percent) say it is “essential” to a company’s long-term success that its employees and leaders have strong interpersonal skills, but only 26 percent are offered much help or support in developing them. A similar support deficit exists in the areas of confidence/ motivation, ethics/integrity, critical thinking and innovation/creativity. Failing to train your team members can be a catalyst for them to seek out organizations that offer better training. That can be costly to your organization. Employee Benefit News reported that turnover cost approximately 15,000 per employee who earns an annual salary of $45,000. That number is much higher for top producers. We Retain More Knowledge when We Participate in Training Actively Edgar Dale, famous for his research on this subject and his “cone of experience,” found that after two weeks, we tend to remember only: 10 percent of what we read 20 percent of what we hear 30 percent of what we see 50 percent of what we see and hear 70 percent of what we say and write 90 percent of what we do The higher our level of participation, the more information we retain. From a business perspective, higher retention of information translates to a higher ROI on your investment in providing training to your team. How to Engage Participants in Learning This is why it is so important to have participants in any learning course do more than just sit there and listen to what is being presented. Here are some strategies you can ask your instructor to use in an effort to get your team members more involved in their learning: Require participants to complete pre-work before the training. Before the training, if possible, connect with all the participants, probably via email. Ask them what they hope to learn from the session and if there are any specific questions they would like to get answered. This involves them in the training before it even begins. During the training, present the material in several different formats, such as written bullet points with images, video or audio clips, quiz questions and hands-on exercises. Offer different methods of training. Consider off-site, on-site, online self-study and online instructor-led programs. Make it easy for participants to follow along with what is being presented and to take notes, either online or on paper—whichever they prefer. Let participants know what’s coming. One effective way to do this for longer training classwork is to use the 50-10-50 module/break format. People tend to tune out and get restless if a training module lasts longer than 50 minutes. Let them know you will conduct a 50-minute training session, and then they will get a 10-minute break. Then the next 50-minute session will begin. When participants know ahead of time that the workshop will break at a specific time, it reduces their stress and distraction. They likely will need to check their email or return calls. Choose participants randomly during the training to answer questions or offer their perspectives. They will want to be prepared in case they are called on, so they will pay closer attention. Require participants to complete worksheets, and then collect and review them. If it’s not worth instructors’ time to inspect what they expect, then soon it won’t be worth the participants’ time to complete the assignments. Break the participants into groups and ask them to engage in discussions on the topic. Have the participants write or say how they will translate the information, concepts and techniques they have learned into actionable activities they can use with their clients. Have your instructor create high-value deliverables that summarize and expand on what the participants have learned. Listing or linking to additional support resources is a valuable way to keep adults engaged long after your training seminar is over. You can offer these deliverables in the form of printed handouts or via an online LMS. Offer praise when participants offer contributions to the training and when they excel at grasping the concepts and translating them into real-world scenarios. Mistakes to Avoid in Training In addition to the above tips for engaging learners in their training, here are some common training mistakes for your trainers and instructors to avoid. Most of these common mistakes boil down to organizations, trainers and/ or participants attempting to take shortcuts in the learning process: Mistake #1: Offering training as an afterthought — or not at all. To become known as the organization that offers the best and most valuable training, it must be included in your budget. You must devote time, staff and money to training. Otherwise, it’s no more than an afterthought, or at best, a one-time event. Ongoing training is the hallmark of dynamic organizations that attract the best talent. Plus, when you train your own team members, you are investing in your own company. Mistake #2: Creating cognitive overload. That occurs when too much information is delivered at once. If participants feel overwhelmed, they will be unable to absorb the concepts you are sharing with them. This is a common occurrence when it comes to new agent/advisor onboarding training, since there is so much information to provide in such a short period of time. Offer classroom training in short segments, and stick with “bite sized” online training courses or modules that offer learners a small bit of vital information at once. This online coursework can be used as an initial presentation of the subject matter or as a training follow up after a classroom session. Repetition is the key to learning and recall. (This is one of the beneficial features of FSEdNet video training; our hundreds of videos last an average of only 8.5 minutes each.) Mistake #3: Using outdated materials. Make sure all your training materials are updated, with current statistics and facts. Participants are likely to lose confidence in the credibility of the information if the information is no longer accurate. Mistake #4: Ignoring differences in learning styles. We know people learn by doing. We also know that some people tend to learn better through visual or audio content. Be sure your content isn’t just written or spoken; but it contains a blend of written, audio, visual and even gaming elements in your training materials. Mistake #5: Ignoring generational differences. We can’t assume that all baby boomers prefer traditional training materials and millennials, or Gen Z prefer online training. A study of 1,000 professionals by Activia Training found that younger employees prefer classroom learning. Thus, when utilizing eLearning the style and design of its format is very important. The best designs are those which replicate a classroom experience, which should contain a blend of live speakers, along with visual enhancements to engage and supplement the learning process. Voiceover PowerPoints scored the lowest when it came to eLearning. Mistake #6: Trying to teach all knowledge levels in one class. When possible, tailor your training according to skill level. Veteran agents or advisors who have been selling life insurance for their entire careers obviously don’t need an introductory class on life insurance. Assess knowledge levels before deciding which participants should take which training. Also, don’t assume people know more or less than they really do. Mistake #7: Leaving out important aspects of the participants’ everyday activities. Training your agents or advisors in sales and negotiation strategies is essential but be sure to complement that training with product training and how to manage a practice as well. And, as mentioned earlier, millennials and Gen Z want training in “soft skills.” Offer training in a variety of skills. Mistake #8: Failing to follow up. The learning shouldn’t end the moment the training ends. Training is a process, not an event. One of the key benefits of eLearning via an LMS, is that the training curriculum is available for a refresher whenever the information is needed. No trainer can design a curriculum to fit every situation or client event at the exact moment needed. So, having the ability to return to a specific training topic at any time is a winning solution. Thus, repetition is the key element to any learning process. Set expectations for posttraining follow-up. Ask participants to submit reports three months later, for example, to explain how they have used the training. Schedule a get-together three or six months later, and have participants share their thoughts about the training. Ask participants to write down two or three specific goals for how they will use the training in their professional growth. Check back with them three and six months later to learn about their progress. Mistake #9: Skipping the assessment step. Ask participants to fill out an evaluation form before they leave the room or as soon as they sign off the online training platform. Make sure someone compiles the data on these forms to understand what worked and what could be done better next time. This is extremely important. Training requires a significant investment of your organization’s time, money and resources, so it pays to learn what type of impact it’s having. Do not allow anyone involved in the training of your team, or the participants, to take or accept shortcuts! It’s human nature to try, but we must form the habit of never accepting any shortcuts in learning or business. Consider Hoopis Performance Network for Advisor, Leader and Staff Training An effective resource for training financial advisors is HPN, which features online, ondemand, total video-based training built on four Disciplines of Success with access to more than 600 training sessions. The coursework can be either self-study or facilitator-led, and it complements any firm, agency or company training programs and marketing selling systems. With our mobile application your advisors can access the video training anytime, anywhere, on their computers, smartphones or tablets. It’s a cost-effective, time-efficient way to increase productivity, thus retention. All of our platforms are designed to help all levels of those in the financial services industry enhance their career opportunities by learning and understanding more. Which results in helping them reach their full potential by sharing ideas, concepts, techniques on topics that will help turn potential into reality. Don’t Shortcut the Learning Process

Financial Wellness Retirement Income Estimator: What monthly income will your retirement savings provide? Try Our Retirement Income Estimator What monthly income will your retirement savings provide? Back to Financial Calculators We Invite You To “Test Drive” Our Financial Wellness Content Today! Test Drive

Next Item Previous Item Go back to White Papers List The past two years have shone a spotlight on digital learning. While some companies already had robust digital learning platforms in place at the onset of the COVID-19 pandemic, others struggled to engage a newly remote workforce in a fully virtual environment. In both cases, the digital learning experience — and its effectiveness — came under greater scrutiny than ever before. The debate over in-person versus online learning is not new. And now — as we begin to move out of the pandemic — some training organizations are breathing a collective sigh of relief about finally getting “back to normal.” But let’s be honest: Normal is a thing of the past, and consigning digital learning to second-class status is a mistake for several reasons. Many businesses will continue to support remote work, if not on a full-time basis, then in a hybrid work environment. And remote workers are often geographically dispersed, making digital learning options even more necessary. Gen Z, the incoming workforce, has grown up with digital learning. These self-directed digital natives look to TikTok, Instagram, and YouTube to learn new skills. And they expect the organizations they join to provide similar (or better) experiences. Finally, and perhaps most important, digital learning is cost-effective, efficient, and — when done well — as engaging as in-person, instructor-led training. The question every organization should be asking is not whether to continue providing digital learning options; the question is, does your digital learning platform achieve the results you expect? Creating an engaging digital learning experience requires a learner-focused design based on fundamental learning principles. As you evaluate digital learning platforms for your organization, consider these five essential elements required for an effective digital learning experience. Purposeful A fundamental principle of learning is that adults are motivated by learning that helps them achieve a goal or solve a problem. Whether they want to move into a management position, increase retention, or penetrate new markets, financial services professionals will be more motivated, will retain more, and are more likely to apply learning that serves a specific purpose. Through videos, case studies, assessments, and other media, an effective digital learning experience regularly reinforces the why behind the learning, not just the how. And since effective digital learning programs typically consist of brief, tightly focused microlearning modules, learners can select modules that have the most relevance for achieving their goals. Personalized Microlearning modules satisfy another fundamental principle — adult learners want the flexibility to control what, when, how, and where they learn. In today’s business environment, that often means mobile learning, something for which microlearning modules are especially well suited. And because microlearning is modularized, with discrete learning objectives, learners can personalize the experience based on their specific interests. A strong digital platform will also recommend custom learning paths, usually identified through online assessments, to ensure that the program addresses all skill gaps. Two new financial services managers, for example, may require different learning paths, based on their strengths and weaknesses, with the online assessment ensuring that all essential leadership areas are evaluated properly for both new leaders. Actionable A training module is only as good as the action it produces. Effective training includes actionable takeaways that learners can apply soon after completing the learning experience. A coaching module for new managers, for example, should provide a coaching model, script, or other guidelines so that managers can apply their new coaching skills immediately. It should also suggest activities for practicing the new skills after completing training, to transfer and reinforce learning. The Forgetting Curve Digital microlearning modules work well with spaced learning formats (learning that occurs over time). The cadence of this type of learning, learn-apply-review-reinforce, provides the repetition needed to overcome “the forgetting curve.” Introduced by German psychologist Hermann Ebbinghaus in the late 19th century, the forgetting curve shows that, on average, people forget 70 percent of what they learn within 24 hours of learning it and 90 percent within one week.1 The most effective way to overcome the forgetting curve is to use active recall and review activities and apply new learning early and often. Active recall activities often found in digital learning platforms include quizzes, flashcards, scenarios, and critical thinking questions. Practical Practical learning is related to, but not the same as, actionable learning. Actionable learning ensures learners have takeaways they can apply immediately. Practical learning takes into account different on-the-job situations to ensure learners have resources at a specific moment of need. A comprehensive digital learning platform includes resources to support five moments of need: new, more, apply, solve, and change. The Five Moments of Need The “five moments of need” approach, developed by Conrad Gottfredson and Bob Mosher, focuses on applying learning in the workflow.2 Learning a new skill or concept and then learning more as skills increase are the bread and- butter of traditional training programs. Effective learning platforms will also support learning that happens on the job: when learners apply new skills when they must solve problems because something did not happen as expected, and when they must relearn skills because systems, processes, or situations changed. Because of their modular design, accessibility, and the variety of delivery formats available, digital learning platforms are ideally suited for addressing these needs. Engaging Last, but by no means least, an effective digital learning platform actively engages participants in the learning experience. This element, perhaps more than any other, influences learner retention. And it is the one area where digital learning platforms often fail to perform. Quizzes are the most common engagement activities included in digital learning. Ideally, these knowledge checks also provide meaningful feedback to learners, reinforcing correct answers and reviewing material for incorrect answers. Some platforms award points or badges for activities completed. Some include leaderboards that show learners how their scores compare to others. The most sophisticated use simulation and virtual reality. Fortunately, you do not have to develop the next Minecraft game to engage most learners. Any activity that reviews and reinforces learning points and supports the on-the-job application of key concepts will encourage learner participation. In addition to quizzes, case studies, what-if scenarios, and criticalthinking questions can keep learners engaged. Varying the types of media used (balancing text, video, and infographics, for example) also helps to retain learner interest. Digital learning is here to stay, and it is a valuable tool when designed well. These five elements, when combined in a digital learning experience, can motivate team members to use your training platform, transform new skills into increased productivity, and provide you with the ROI you are looking for in a digital learning platform. Engaging Advisors with the Essentials of Digital Learning

The Hoopis Performance Network has formed alliances with industry organizations that complement our existing resources, products and services. Strategic Partners Leverage Our Strategic Partners to Increase Performance & Productivity The Hoopis Performance Network has formed alliances with industry organizations that complement our existing resources, products and services. Harry Hoopis and his team field tested the tools and resources within his very own “Living Laboratory.” Over 850 financial services companies in more than 70 countries around the world turn to LIMRA first to help them build their businesses and improve their performance. These members rely on our 90 years of industry experience, along with resources in Research, Consulting, Assessment, Development, Compliance and Regulatory Services. Visit Website Why choose us, our clients choose to work with rekroot because of our integrity and effectiveness, through innovative ways to serve as your resource for achieving growth goals. Our mission, what this means to you is, we invest the time to listen and understand, by reviewing your current progress, in line with where you want to be as an office and team. What we do, the real benefit is we will provide a personalized comprehensive analysis that aligns with your goals, values and objectives with actionable items. Visit Website Through our millions of profiles of people for over 3,500 organizations, we have developed highly sophisticated ways to measure these success factors using a variety of proprietary normative profiles. SMG is a leader in talent management solutions, partnering with clients worldwide to help them attract, select, retain, and develop top potential employees. Now the largest sales profiling company in the world, our online system is available 24/7, 365 days a year in 45 countries and in over 40 languages. Our Predictor of Potential (POP™) is a definitive example of our innovative and science-based approach. The POP™ has been thoroughly validated regularly since its creation in 1978 – and we are always improving upon it. The POP™ has become the basis for our other proprietary profiles. Visit Website 25 Point System’s software platform for on-boarding and developing new advisors helps managers attract, retain and grow a digital-age field force by integrating innovative activity management concepts and skill development tools, in an environment that inspires self-management and accountability. Modeled after 25 Point Systems under John Baier’s industry-renowned 25-Point System. 25 Point Systems includes engaging features like leaderboards and a team-based social media feed. Built-in skill development tools introduce micro-learning content, and provide an interface that enables a producer to record scripts and selling techniques, submit to their trainer, manager or mentor, and gain feedback any time of day. At its core, the concept is built on game-like levels, allowing assignments, skill development and production goals to be set for each producer, and utilized as the criteria for incentives, rewards, and advancement opportunity. Visit Website RAD Potential Advisory delivers evidence-based hiring and coaching solutions tailored for sales-driven organizations. By leveraging data analytics, predictive assessments, and targeted development programs, we help clients make smarter talent decisions and build stronger teams. Trusted by businesses across industries, RAD transforms raw data into actionable insight. Visit Website Leadercast is a leadership development organization that hosts events, including the renowned Leadercast Live conference, which features top leaders from various industries. They provide valuable insights, resources, and tools to help individuals and organizations develop and enhance their leadership skills. Through in-person and digital content, Leadercast empowers leaders to unlock their potential and drive success. Their mission is to create leaders worth following who can inspire and elevate those around them. Visit Website InsuranceNewsNet (INN) is the insurance industry’s #1 trusted news source! For cutting-edge insights and innovative strategies, turn to INN—the go-to platform for financial professionals seeking the latest news and resources to fuel success. We deliver timely updates, expert analysis, and actionable content that empowers agents, advisors, and firms to stay ahead of the competition. With award-winning journalism, cutting-edge digital tools, and results-driven marketing solutions, we help our partners grow their businesses and maximize their impact. Our readers save time by accessing all the critical content they need in one place—InsuranceNewsNet.com—without having to sift through multiple publications or news outlets. Visit Website Life Happens is a nonprofit organization dedicated to helping Americans take personal financial responsibility through the ownership of life insurance and related products, including disability and long-term care insurance. Life Happens also seeks to remind people of the important role insurance professionals perform in helping families, businesses, and individuals find the insurance products that best fit their needs. Life Happens does not endorse any product, company or insurance advisor. Its only interest is seeing that consumers get the coverage they need to protect themselves and their loved ones. Visit Website Moody’s Learning Solutions For over 40 years Moody’s has set the industry benchmark in financial services education, elevating the skills of banking and lending professionals worldwide. Harnessing its risk management expertise and insights into banking and finance best practices, Moody’s is the training partner of choice for financial institutions seeking to build a competitive and risk-aware workforce. Visit Website

Virtual Speaker, Author, Podcaster, ALPACA Farmer Kim Butler Virtual Speaker, Author, Podcaster, ALPACA Farmer Co-Founder of the Prosperity Economics Movement, Kim writes books and shares stories about moving from limits to possibilities, confusion to clarity and scarcity to prosperity in your money and your mind. The Prosperity Economics Movement helps clients and advisors regain financial control by breaking from the norms of typical financial planning and building a Prosperity Mindset. Book, Podcast & Video Subjects: 401K issues 7 Principles of Prosperity Mindset and your money Why savings saves families Family banking and Perpetual Wealth Interest and your future (both costs and gains) Life Insurance as your Emergency/Opportunity fund Previous Speaker Go back to Speaker Network Next Speaker

Next Item Previous Item Go back to White Papers List Introduction When the Coronavirus pandemic disrupted business as usual in 2020, many financial services leaders were left wondering how to recruit in a world where meeting candidates in person was suddenly impossible. Like many business owners, they had a choice of either adapting to this new environment or waiting it out and hoping for the best. Most realized early on that adapting was the only real solution. And after several months of working in a virtual world, many have also realized that virtual recruiting provides unexpected benefits. Even if the pandemic had not occurred, the move to virtual learning was probably inevitable. In one 2019 survey, more than half of the Gen Z and Millennial participants surveyed said they would not consider a job at a company where they felt the application process was outdated. They value personal connections but expect organizations to leverage technology. To them, an outdated application process is a sign that they can expect outdated systems and support if they join the organization. The good news is that college-aged Gen Z participants in that same survey were twice as likely as Gen X and Millennials to consider a career in sales. Strong, interested candidates are out there, but how you recruit them matters. To see how leaders in financial services are faring in this new environment, we spoke with 12 experienced agency and firm leaders from nine different companies. Some of these leaders had been recruiting virtually for some time, while others made the switch with the onset of the pandemic. All have proven track records recruiting and retaining top performers. This white paper explores the challenges these leaders faced and the opportunities they discovered as they adjusted to a 100 percent virtual environment, as well as the strategies they are using to survive and thrive during this turbulent time. Key Takeaways for Leaders Be well-versed in using videoconference software, and learn to use features such as screen sharing, breakout rooms and the whiteboard. Now is the time to strengthen relationships with your centers of influence. Let them know you care about them personally and professionally. Schedule weekly or biweekly virtual career seminars and use your centers of influence and agents or advisors to drive attendance. Stick to your selection standards. Many people might be looking for work right now, but not all of them are a good fit for the profession or your firm. Hone your listening, observation and questioning skills for conducting virtual interviews, and use other steps in the process to provide a complete picture of candidates’ ability to perform and fit with your culture. Virtual Platforms Leaders who participated in our research use a variety of videoconferencing tools, including Zoom, Microsoft Teams, Google Meets, Adobe Connect and Skype for Business. Using videoconferencing software to conduct meetings with candidates creates a more personal connection than a phone call and allows leaders to assess candidates they can’t meet in person. Listening, questioning and observing become more important when on a videoconference because some of the nuances you might notice in person can be lost. Still, nearly every leader in our research said they can get a good sense of a candidate’s fit with the profession and with their culture through videoconferencing. One leader leverages the platform as an added step in his selection process. He notes, “I can tell if someone got onto a call early and paid attention to lighting, the camera angle, things like that. All of those things are indicators to me of the caliber of the candidate.” Because so many people are familiar with videoconferencing now, your recruiting and selection team must be well versed in using the platform. This is particularly true with Gen Z and Millennial recruits, who are looking for tech-savvy organizations. Several of the leaders we spoke with use platform features such as the whiteboard and breakout rooms. One leader uses the whiteboard exclusively with no PowerPoint presentation. He feels this creates a more engaging and interactive presentation than “death by PowerPoint.” Another leader purchased stand-up desks for his team, so they project more energy as they interact with recruits than if they were sitting. Many leaders have also started using virtual backgrounds. This can project a more professional image and conceals any clutter that you might not realize is behind you while on screen. Many virtual backgrounds are available for free online, and several companies have also created virtual backgrounds that feature their company logos. As prevalent as videoconferencing technology is, though, leaders warn that you shouldn’t make assumptions. It’s still a good idea to check with candidates ahead of time and thoroughly explain the virtual recruiting process. Recruiting Candidates Virtually Many leaders in our research were already using social media to source candidates before the 2020 pandemic. For most, however, the process following that initial virtual contact was often in person. Today, that has changed — the entire process, from sourcing through selection, is virtual. One leader noted, “I’m bringing people on board that I have never actually met in person and may not meet for some time.” Referrals Whether virtual or in-person, referrals from financial professionals and centers of influence remain the leading source of candidates. Obtaining these referrals is not significantly different in a virtual process. Actually, it might be easier during this time when many people are working from home and are easier to reach. It’s especially important to keep your centers of influence engaged right now. Some leaders have started holding weekly virtual meetings with their centers of influence to teach them about their culture and the type of candidate most likely to succeed. Leaders also suggest giving centers of influence talking points about the virtual recruiting process. As always, be sure to keep them informed on the progress of their referrals. Don’t forget that your centers of influence might be experiencing hardships during these difficult times; their businesses might be closed, or they might be struggling with health issues within their families. Now is the time to show that you care about them, both personally and professionally. Whether you are meeting in person or through a videoconference, the Golden Rule applies — give help before you ask for help. One leader offers a word of caution: adhere to your hiring standards. Many people have been displaced from their jobs during the pandemic. And as much as you and your centers of influence would like to help them, you must stick to your selection standards. Finding people who are the right fit for the profession and your culture is just as important as ever. Social Media LinkedIn is still the most-used social site for making connections. The ability to connect with people through groups and mutual connections allows recruiters to make warm-source introductions that are more likely to result in a hire. Many leaders are also using Facebook, Instagram and other social media sites to attract candidates to their agencies’ and firms’ cultures. As one field leader noted, “Everyone is at home right now, and they are all on social media.” As with centers of influence, remember that, with candidates, it’s better to give than to receive. Leaders in the research stressed the importance of posting content that provides value on social media sites, not just asking for referrals and introductions or posting job openings. Use these sites to introduce people to your values and culture and to demonstrate thought leadership in your areas of expertise. Career Seminars Many leaders in our research indicated they are holding weekly or biweekly virtual career seminars to introduce candidates to the profession. They post the events on social media and provide talking points to their financial professionals and centers of influence to help draw candidates to the event. During these virtual seminars, leaders talk about the benefits of the profession and share their personal stories. Many speak of the changes taking place in the industry and the opportunities that come with change, such as the need to grow the profession because of an aging field force and the need for more women and more ethnic diversity in the profession. They talk about the opportunities available and discuss why this is an excellent time to come into the profession. And they explain how they will help candidates build and grow their businesses. Most leaders recommend that virtual meetings last no longer than 30 minutes and be as interactive as possible to keep candidates engaged. The only challenge leaders identified for these events is that much of the collateral they would normally hand out in an in-person meeting is not designed for a virtual event. Some scan and send material via email or post it to be downloaded; others have redesigned recruiting materials for their virtual process. One field leader also noted, “We ask for feedback at every event—even our career seminars. It’s how we continue to improve and attract new people.” Job Boards and Career Fairs With so much consolidation in the industry, along with the disruption in business due to the pandemic, some field leaders and recruiters have started using targeted job boards such as wallstjobs.com or reaching out to wholesalers to connect with financial professionals who are actively seeking new careers. Virtual career fairs are becoming more and more common as well. As colleges and universities adjust to the new virtual environment, they have begun hosting virtual career fairs for their students and alumni. Where that isn’t happening, some leaders have reached out to colleges and offered to host virtual job fairs for them. Job sites such as flexjobs.com and indeed.com also regularly host job fairs. Other sites, such as jobfairsin. com, post listings of virtual job fairs throughout the United States. Selecting Candidates Virtually Selection processes differ across organizations, but all use some combination of the same elements: virtual interviews, job-sampling activities, behavioral assessments and a candidate review process. Virtual Interviews Agencies and firms are using a combination of one-on-one and group videoconferencing interviews during their selection process. Some prefer virtual interviews because they feel candidates are more relaxed when they are in their own environment, and leaders can get a glimpse of the real person. Another advantage of the videoconference is the option to record it. When this is an approved option, leaders and recruiters can focus on the conversation with candidates without having to take notes. And they can go back and review the video to capture details or identify items they want to follow up on after the meeting. Most leaders haven’t changed their questions in the virtual interview process. However, they are paying more attention to body language and asking more follow-up questions to be sure they are getting a good feel for a candidate’s willingness and ability to do the job. They are also spending more time digging into candidates’ reasons for joining the profession. Leaders who are experienced with virtual interviewing recommend taking advantage of videoconferencing features such as breakout rooms. For example, one team starts with a large-group meeting for all candidates and then separates them into smaller groups using breakout rooms, where candidates can have more in-depth conversations with different managers. Pre-Recorded Interviews Some agencies and firms are experimenting with prerecorded video interviews as an initial screening tool. This is especially useful in college recruiting because recruiters can reach out to more schools and more candidates than they can by on-campus, inperson recruiting. Candidates are asked to submit prerecorded videos answering questions supplied by the recruiter. It’s helpful to provide candidates with a tip sheet on how to prepare for this type of interview. Candidates are usually more relaxed because they can prepare and record their answers at a time that’s best for them. And recruiters save time because they can review the videos on their own time as well. There are talent acquisition companies, such as yello. co, that specialize in automated recruiting systems and offer comprehensive services for prerecorded videos. For a less expensive and simpler option, you can simply ask candidates to create a video and send it to you or post it on a secure site. Job-Sampling Activities Leaders are continuing to require candidates to complete fact finders and market surveys and to present business plans. The only drawback to doing these activities virtually is that often, the materials they use were not designed for a virtual process. This has been a minor inconvenience, though, and leaders have quickly adapted. Just as before, leaders are using job-sampling activities to determine if candidates have a market and if they are willing to prospect. The leaders we spoke with also stressed that, in today’s environment, it is more important than ever to see if candidates can overcome challenges. Several leaders require candidates to submit a written business plan. Some have candidates present their plans virtually; others have candidates email the plans to the leadership team. The main purpose of the plan is to help recruits get off to a fast start. Leaders also use these plans as an assessment tool. They look at the quality and effort that went into the plan as an indicator of the candidate’s work ethic and desire to succeed. Behavioral Assessments Many leaders were already using behavioral assessments in their selection processes; others have added them since the pandemic. One leader noted the importance of these assessments right now: “Since I’m not meeting with people in person, I’m depending on these tests to fill in the gaps. If they don’t pass the test, they’re out. No exceptions.” Among the behaviors leaders look for are emotional intelligence, social intelligence, conversation skills and high energy. Candidate Review Process Recruiting teams typically meet weekly to review the past week’s candidates and prepare for the next week’s interviews. As part of the preparation process, one team discusses how they can customize presentations for individual candidates. Because the meeting is virtual, this more personalized approach is much easier to do. Virtual Challenges Virtual recruiting is not without its challenges. Several leaders noted that testing centers have been closed during the pandemic, which is preventing recruits from getting licensed. And, while it may be easier to connect with people when they are at home rather than in the office, that’s possible only if you have their personal contact information. Some candidates, particularly experienced professionals, are reluctant to commit without meeting the leadership team in person and seeing the office space. As locations begin to loosen shut-down requirements, some leaders are allowing high-potential candidates to visit the office, even when selected candidates will be working from home. The greatest challenge for some leaders has been launching recruits. There appear to be two schools of thought within the financial services community. Some leaders feel it is unfair to launch recruits at a time when building their client base is going to be difficult, especially when their onboarding and training will also be virtual. “This is a significant obstacle for new people,” one leader noted, “and it’s unfair to bring them on at this time.” Some leaders have put their internship programs on hold for the same reason. These leaders are focusing their energies on experienced financial professionals. They believe experienced people will get through the pandemic successfully because they already have a client base and are established in the business. Other leaders feel this is the perfect time to bring on inexperienced people. “This is not the new normal for inexperienced recruits,” a leader who is actively recruiting new people said. “It’s simply their normal. They don’t know a different way. To them, it’s just how we do business. I don’t get the same resistance as I do with some of the experienced folks.” Whichever “camp” leaders fall into, all agree that virtual recruiting is not going away. It might never replace inperson recruiting, but it will play an important role in the process moving forward. Virtual Learning Is Here to Stay Many of the leaders we spoke with talked about the benefits of working virtually — for themselves, their agents and advisors, their staff members and their clients. More than one leader remarked, “I’m never going back to doing everything in person.” Several leaders mentioned that they are more efficient and getting more done using a virtual approach. They’re saving time by not driving to different locations and can fit more calls into each day. One leader said he has shaved five days from his recruiting cycle time by doing everything virtually. Even though they are busier than ever, several leaders also mentioned having a better work–life balance with the move to virtual because it provides more flexibility in their scheduling. However, one leader did point out the challenges many female recruits are facing. With schools and daycare centers closed, many parents — women in particular — are trying to manage increased demands on their home and work lives. “It’s important to be sensitive to those challenges,” the leader said, “and let recruits know you will support them through the process.” Leaders in our survey shared two important pieces of advice for virtual recruiting. The first is to have a process and follow it. Each step in the process becomes even more important when you aren’t meeting with people in person. The second is to embrace this new approach. Don’t be afraid of the technology, and don’t wait for things to go back to normal. This is the new normal. When the Coronavirus pandemic occurred in 2020, some of the leaders we spoke with had already been recruiting virtually for years, some jumped right into virtual recruiting and others were a bit slower to accept it. But almost everyone agrees that the change has created unexpected opportunities for increased efficiency, productivity and growth. Virtual Accountability