If some adviser firms wait outside university graduation halls (that's figuratively, not literally) to grab the best talent, financial planning firm The Beaufort Group adopts an entirely different approach...
The group, which launched last year, is already starting to see some success with its Bright Young Things scheme.
Here, group CEO Alan Easter explains more about the programme...
How does the scheme work?
Alan (AE): "Once we find people who will fit the business, we conduct aptitude tests, but ultimately we take a punt. You know whether you like someone or not.
Alan Easter explains The Beaufort Group's unique recruiting process
For six months they will be exposed to every aspect of the business. They will shadow me, work with the chief investment officer, sit with the paraplanners and look at the portfolio and dealing screens.
At the end of the period we sit them down and ask: ‘Is this right for you?' If so, we build a career development programme and create a study and exam plan.
People gravitate towards what they're good at. Harriet did a couple of weeks in paraplanning and said ‘that's not for me' she prefers communications and marketing. Henry enjoyed it, however, he liked the detail, that's the way his mind is."
Tell us about the contract?
AE: "Some businesses focus too much on the first, commercial contract in my view. That is: when the working day starts and ends and how many holidays they have. We don't clock watch, we don't really holiday watch.
The second contract is: ‘Do I actually like this person?' Will they crack jokes in the office. Will they make tea for their colleagues.
The third, and related, contract, is psychological: Does this person have the same belief structure as we have? Are our ethical and moral compasses pointing in the same direction?
If the second and third informal contracts are fulfilled, the first will take care of itself."
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