"I have two brokers who'll be retiring in April 2018. When should I start taking steps to replace them?"

There's a question we often face...

And in an industry like the insurance sector, where good candidates are few and far between, my answer would be "Right now!"

When it's only December, April may seem far away. And I'm sure you have other priorities.
But have you stopped to think what the consequences might be for your firm if you don't find the right person in time?

Successful recruitment is a multi-stage process. First and foremost, you should identify your needs and come up with a winning strategy to find the right candidate. After all, you want the very best for your firm, don't you? So before you even start thinking of recruitment, you should identify the profile for your ideal candidate. You should also position yourself so you stand out from the pack—that way, you'll be able to attract the best talent. What does your firm do better than its competitors? Why would a prospective employee choose your firm over another? What can you do to reach the best possible candidates, who might often not be the ones who respond to official job postings?

Once you've done all that, think about how you plan to integrate a newcomer into your team. How long will it take to get the successful candidate "up and running"? What kind of training program will you be using? And if you're replacing someone who's retiring, wouldn't it be a good idea for the newcomer to spend some time with the existing employee before he or she heads off into the sunset?

If you don't think of these things, you could end up creating obstacles to your firm's growth.
That means you will have to redouble your efforts to fill the vacant position and manage the extra workload created by your existing employee's departure. It also means you'll be spending less time on more profitable activities.

Are you willing to take that risk?
James Devinant, Recruitment Consultant, Insurance Division, TOTEM Talent Recruitment