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Henley Business Brokers are independent specialist business brokers and business transfer agents, working collaboratively with accountants, focused on owner managed companies in the Manufacturing, Engineering, Fabrication, Industrial, Distribution, IT and B2B Service sectors, with turnovers of between £0.5 million and £10 million. 

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How to hire "right" and watch your practice grow

10th Nov 2020
Brought to you by
Henley Business Brokers

Henley Business Brokers are independent specialist business brokers and business transfer agents, working collaboratively with accountants, focused on owner managed companies in the Manufacturing, Engineering, Fabrication, Industrial, Distribution, IT and B2B Service sectors, with turnovers of between £0.5 million and £10 million. 

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Have you found this content useful? Use the button above to save it to your profile.

The biggest bugbear of my career was hiring new staff, something shared across the profession and beyond.

It's hard enough to avoid walking into a trap but with a the right approach you can turn it into an exercise in investing in your practice. After all, people are human capital and a business needs to be adequately capitalised.

It is worth waiting longer until the "right" person comes along, but you may need to redefine what "right" means. You need to look beyond a competent pair of hands if  what you really want is an injection of growth and vitality, even if discreetly.

Why should a new hire help grow your firm?

It's not necessarily the case that they are being hired to drive growth but an enthusiastic person with their career ahead of them can support your efforts to grow and if they are positive about their prospects with you they'll bring in new clients and talk up your practice. 

So how do you find out if they've got it in them?

It goes beyond simply asking the candidate themselves but following up references  thoroughly and pitching the right questions will yield a lot. But the biggest determinant in my experience is simply this:

If the referee hesitates to give an answer to your direct question as to whether the recruit could help drive growth, then it's likely your heading down a cul-de-sac.