NAPA Net - Polling Places 112020

What's Happening With Your Hiring?

Among the things that have been different during the pandemic is the process of hiring, and perhaps not only the process itself, but the types of talent your practice needs. So, this week, tell us how that’s going – if it’s going – and how you’re planning for 2021.

In a year extraordinary by any measure, when many have been (and many still are) working from home (giving us another acronym to keep up with), or at least in ways that are far from business as “usual”, the process of finding, reviewing, hiring and ultimately training new staff has surely been affected as well. Now, in some ways it may have gotten easier – in some ways more complicated – but perhaps not.

Regardless, readers have asked – and it’s gotten us wondering – how are your hiring practices “going?”

Question Title

* 1. Has your firm/practice made any new hires this year?

No.

Yes, but before the pandemic hit.

Yes, since the pandemic hit.

Yes, both before and after the pandemic hit.

Question Title

* 2. How do you/have you determined when/who to hire (check all that apply)?

By client load metric/complexity

By need for specific skill set/expertise

When we identify individuals who would be a good complement/cultural fit

It’s not something I’ve really considered

I'm not involved in that process.

Comments on this provision/your opinion?

Question Title

* 3. Where do you get your staffing leads (check all that apply)?

Other retirement advisory firms

Wealth management firms

Recordkeeper/other service provider

Other sources?

Question Title

* 4. Have those factors changed since the beginning of the pandemic?

No.

Yes - and please describe how/why

Question Title

* 5. If you have hired since the pandemic, how has that process changed (if at all)?

Online/zoom/teams screening.

Adopted virtual interviews.

Social distancing during interviews.

Fewer individuals involved in the process.

More individuals involved in the process.

Different people involved in the process.

No real change.

Back to in-person interviews.

Comments on your opinion?

Question Title

* 6. What part of the country are you working (hiring) in?

Northeast

Mid-Atlantic

Southeast

Midwest

West Coast

Rocky Mountains

Pacific Northwest

Southwest

Great Plains

something else?

Question Title

* 7. Do you expect that your 2021 hiring will...

Be limited to replacements/be flat.

Expand current staffing levels by 1-5%

Expand current staffing levels by 5-10%.

Expand current staffing levels by more than 10%.

Reflect a reduction in staff.

comments?

Question Title

* 8. Other comments about hiring, the process of hiring, how the process of hiring has been affected - or not - by the pandemic, how the process of GETTING hired has been affected - or not - by the pandemic, concerns about the process of hiring during the pandemic, concerns about the lack of hiring during the pandemic, concerns about the lack of a process in hiring during the pandemic, or life in general?

Question Title

* 9. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

Question Title

* 10. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 11. Suggestions for future survey questions? Seriously - what would you like to know about/from your fellow NAPA-Net readers? Or what would you like to be asked?

Question Title

* 12. All responses are confidential, of course - but just in case you would like a response - or want me to know you responded - or just want to say hi - here's your chance to do so!