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Current news and trending topics for sales and financial industry professionals


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Bring Home The Gold! Employ A Champion Team

Fans are raving over the five teenagers who were the first Americans to earn a gymnastics gold in 16 years.  Being referred to as the “Fab Five” or the “Fierce Five,” the team is being compared to the legendary team from 1996, the “Magnificent Seven.”

How does your team stack up in comparison to the “Fierce Five” or the “Magnificent Seven?”    Are you using outdated policies and procedures in your hiring process?  Get prepared and seize the opportunity to add to your talent pool and find your next superstar!

Building a champion team can be challenging;  however, if you examine the plethora of talent and personality and choose wisely, your team can be the best.  Hiring exceptional talent is critical to the overall success of your firm.  As an employer, you should always focus on bringing the best talent to your firm.

Ironstone has outlined some of the best practices in hiring, on-boarding and human capital retention.

When hiring, ask yourself and determine:

  • Will this person do the job?
  • Do they have the skills needed to perform the job?
  • How well will they fit in with existing team members and culture in the firm?

Be certain not to discount the weight you place on “fitting-in” with other team members and your firm’s culture.   All too often, advisors hire based on the look of a resume and skill set resulting in critical mistakes.  A prospective team member possessing “potential” will only add so much to the depth of your team and may not provide a positive and profitable impact.

“If you don’t know where you are going, then you probably won’t end up there.” ~Forrest Gump~

Don’t settle:

Focus on finding and retaining the best talent for your firm.  Top talent is in high demand; therefore, you should make it a priority to include your hiring strategies as a year-round business process.  In your hiring process include each of the following goals and develop your strategies and tactics for each:

  • Planning
  • Recruiting
  • Selection

 Identify & Keep Your Winning Team:

Utilizing your team and positioning team members with their unique ability will add to increased morale, productivity and profitability.  Consider reviewing current positions and how they are measuring up to the overall success of your firm and identify what skills and personality traits are needed to enhance the caliber of your team.

  • Map your ideal organizational flow chart
  • Identify gaps
  • Assess current positions and roles
  • Determine what is working/what isn’t working

Position Your Firm For Growth:

Don’t underestimate the competition in finding or stealing great employees.  Develop the fundamentals that are needed to attract and retain quality team members.

Consider incorporating the following fundamentals in your hiring plan:

  • Provide job stability.
  • Incorporate challenging work which will instill engaged employees.
  • Provide a culture for team members to grow, flourish and succeed.
  • Create a pay for performance reward system; linking employee performance to the firm’s goals.
  • Focus on developing your current team to be successful.  Provide resources and training that will aide them in reaching and exceeding goals.  Encourage career development.
  • Communicate the firm’s goals with team members.  Team members will have a higher morale and be engaged in their role.
  • Offer enhancements such as flex-time, telecommuting or other services that fit the personality of your team members. 

These enhancements can make a significant difference in employee satisfaction and retention without a mammoth investment.

Download these resources from Ironstone to get started on employing your champion team!

Employee Onboarding Checklist     Hiring Implementation Guide

Your team is a reflection of your business.  This reflection carries throughout the work day and most often in personal lives.  Perception of your team is reality.  Be certain  you have the quality team  your firm and clients deserve;  prepare your firm to employ and attract a gold medal team.

We are curious!!  What does your firm do to attract and retain a gold medal team?  What are your team members favorite fundamentals included in your hiring plan?

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

Coming up next, learn about strategic planning with strategic alliances!

• Email us at info@ironstonehq.com
• Call our office at 800-917-8020
• Connect with us:

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Using a Job Description as a Multifaceted Tool at Your Firm

Effectively developed employee job descriptions summarize the roles and responsibilities of each team member in your firm providing them with the foundation needed to reach desired goals and outcomes.

We outlined the components job descriptions should include in our blog, “Learn why Job Descriptions are Essential for Overall Effectiveness at Your Firm.” https://aeschlapia.wordpress.com/2012/03/30/learn-why-job-descriptions-are-essential-for-overall-effectiveness-at-your-firm/

Understanding each component and realizing their value will aide you in modifying and updating job descriptions by:

  • Establishing the role that each position plays in attaining overall firm goals
  • Determining how critical each job is
  • Deciding how positions in your firm interact with one another
  • Defining current employee roles and identifying the characteristics and skill base needed
  • Attracting qualified new candidates and aide in hiring
  • Evaluating performance accurately based on the expectations of the position

A job description needs to provide a positive impact fostering consistency and clarity for everyone involved.  Creating, reviewing and updating job descriptions should be included in your overall business strategy.

Using Job Descriptions as a Multifaceted Management Tool

Although job descriptions are utilized as a valuable hiring tool, a well-crafted job description should be used as a communication tool and a means to review other workplace functions such as:

  • Performance management:  Set measurable and attainable performance goals      based on the duties included in the job description.
  • Training and team development:  Review each job description      for areas that can be used in training and team development workshops.
  • Salary:Outline a compensation program that shows      minimums and maximums for each position in your firm.  Doing so will demonstrate growth      potential for your team member resulting in increased production, loyalty      and overall job satisfaction.    
  • Incentive Plans:  Use your job descriptions as      a baseline for salary;  include      incentives and rewards for employee’s performance levels that go above and      beyond.  
  • Discipline:  If an employee is not meeting      the requirements set forth in the job description, schedule a meeting to review      the requirements and focus on areas to aide them in      achieving goals effectively.

Flexibility is the key when it comes to creating and modifying job descriptions.  Consider creating broad-based descriptions utilizing attachments which delve into the specific tasks required of each employee.  A more generic job description is easier to maintain and won’t require a complete modification as minor changes that takes place.

How often do you use or refer to the job descriptions at your firm?  I’m curious?

Contact us for assistance in developing job descriptions that can be used as a multifaceted tool at your firm.

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

You won’t want to miss our next in the series:  Strategic Planning-Business Plan

• Email us at info@ironstonehq.com
• Call our office at 800-917-8020
• Connect with us:


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Is Your Compensation Plan Boring Your Employees?

It’s not surprising that one of the most frequently asked questions of advisor firms is how to attract and retain talented people and reward them effectively with a remarkable compensation plan. Compensation packages are one of the largest line items in a budget. Ironstone finds that many firms are struggling to stay abreast with changes and new trends in salary and compensation beliefs while experiencing confusion on how to properly control organizational costs and remain viable.

Today’s compensation trends are moving from a base salary package to plans that include:
• A measurement system for variable pay
• Less emphasis on increasing base pay
• Overall firm goal achievement
• Flexibility

By implementing a compensation plan that includes the directives listed above, both the employee and the firm benefit. Compensation plans that incorporate these strategies foster teamwork that focuses on the concrete goals of your firm.

In order for firms to stay competitive, you must frequently change your compensation program and have a plan in place to do so. Your imagination is your only limitation to retaining and motivating the kind of people who are catalysts for the success of your firm.

We recommend that your firm be pro-active in developing and refining your firm’s compensation plan. Recognize that “quality of work life” rewards and appreciation play a vital role in the value of your firm’s benefits package. Your firm can be pro-active and creative by adding an array of perks to the overall benefits package you offer. Consider the following:
• Recognize results with a one-time monetary payment
• Offer opportunity for flexible work arrangements
• Write thank you notes to acknowledge a team member’s “above and beyond” actions
• Present pre-paid legal, education, and insurance benefits
• Place an emphasis on training and development of your team
• Introduce employee wellness initiatives

Lastly, remove the dead-end sign. Your team needs to see a clear and concise view of the opportunities within the firm for growth. You can add a suite of perks to your compensation package, but without the chance for growth and development, your dazzling compensation package won’t work.
As you contemplate the strategic changes you want to make in your compensation plan, do not forget that your team can be your most valuable asset. It is in your best interest to focus on reducing stress at work and in your employee’s personal lives. Reward your team, without hesitation, if you hold a team of energetic, talented and growth oriented individuals.

Developing and offering a compensation plan to your employees with traditional and non-traditional elements is both egalitarian and accountable.  Download Ironstone’s Compensation Planning Checklist!  CompensationPlanningChecklist

Contact Ironstone for more information and additional strategies that will assist you in developing and strengthening your compensation plan.  You can find more information regarding compensation in our blog- “Human Capital Strategies.” https://aeschlapia.wordpress.com/2012/03/19/human-capital-strategies/

Follow us as we explore each of Ironstone’s Fundamental 4™!
• Strategic Planning
• Business Development
• Operational Effectiveness
• The Human Element

You won’t want to miss our next in the series: Business Development-Marketing Plans

• Email us at info@ironstonehq.com
• Call our office at 800-917-8020
• Connect with us:


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Implementing Team Development Programs-Often Overlooked

Learning management is a strategic component to the overall human capital mission of advisory firms and is paramount to team development.  Advisory firms should start by integrating team development programs in order to enhance employee performance.  Forward-thinking executives are continually improving the effectiveness of their teams by refining roles, expectations, and interpersonal communication in order to create accountability for results.

Your goal should be to apply and utilize a team development method that impacts your firm’s bottom line in order to gain the highest return on your learning and development investment.

Ironstone focuses on four major components that are necessary for a fully functioning workforce and implements the performance approaches to drive development.

By implementing a team development program you eliminate the need for micromanaging.

Preparation — in order to create great teams, you need to prepare to support the success of your team.  Design a culture that fuels passion, purpose, and growth.   Deliver a clear message to your team that their job is important and that you stand behind them.  Give employees the basic knowledge and skills to excel within the culture that you have created.  Share with them effective forms of communications, encourage them to ask questions, and acknowledge their contributions to the overall goals of your firm.

Incentives – Incorporate compensation into the successful execution of the firm’s goals.  One of the most powerful motivators is through the use of a performance incentive compensation plan.

Benefits –  You can become creative with the benefits that you offer to your team.  In addition to the traditional benefits such as medical insurance and retirement plans, many firms are finding that creating a flexible work environment is a good employee motivator –  increasing the desire for individual skill development for the employee.

Technology –  Providing the proper technology and training for your team to perform their job is essential to overall team development.   We have found that many firms do not take this component seriously or place much effort in assuring technology and training needs are met for employees.    Obsolete or barely functional technology tells employees their job is not important and their time is not valued.

Once you have put these components into your human capital mission, you will find that employees are capable of managing their position in the firm.  Support your team members and empower them to be as great as they can be.

“A company that does not support, empower and provide proper development

 to employees can take a great team to a problem in a very short time.”

Ironstone can assist you in developing a team development program.   We specialize in identifying gaps in your existing plan and will collaborate with you to develop solutions that are parallel in achieving the results your desire.

Contact us for assistance in starting and improving developing or starting your team development program.  We want to hear from you!   Share your best ideas here!  What does your firm do to promote team development?   We always love hearing from you!

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

You won’t want to miss our next in the series:  Strategic Planning-Business Model