Hidden gems are team members who have been typecast in a role but have innate characteristics that would enable them to excel outside of their traditional scope of work or in other areas of the business.

What we know about the new generation of talent (think: Gen-Y and Gen-Z) is that they are incredibly creative thinkers, who are adept at finding faster and more unique ways to complete tasks. We also know that the best leaders in this business have the ability to draw out that type of new-age thinking from even the most seasoned talent on a team.

Identifyingthe hidden gemsis critical for two reasons. First, it can help solve the “engagement” challenge we have in our industry; employees no longer feel pressured to stay at a firm where they are unhappy. If they don’t feel challenged, if they don’t’ feel connected to their work, if they don’t feel like management cares about their development and fulfillment…they will leave and they will leave quickly. Secondly, it adds to the sustainability and durability of the business; the founders can’t be the only ones solving problems and making crucial decisions. In other words, imagine how much better your organization would run if you were leveraging ALL of the creative and critical thinking skills that exist on the team. (P.s. Most of it is currently lying dormant in the minds of folks who don’t regularly have to tap those skills.)

Here are four common hidden gems you can find on a team.

The MacGuyvers

People who have the ability to think outside the box to solve problems. Always pleasantly surprising others around them, they may choose to implement their own methods rather than follow standard operating procedures.

Where to find them? Look for the person who you usually turn to to put out the proverbial office fire.

How to elevate them? Make them the unofficial “Efficiency Officer.” Challenge them with quarterly question-based projects like, “How can we cut down our working hours but get the same if not more productivity from our service team?”

The Chameleons

People whose personalities can adapt quickly, they tend to get along with everyone on a team.

Where to find them? Look for the person most likely to organize an office off-site or team-building session.

How to elevate them? Invite them to a client event and task them with asking for introductions. Have make note of how they shift and adjust when working with different types of people, and then use that information to build psychographic profiles for your various target markets.

The Silent Leaders

People who can quietly inspire others on the team; they aren’t necessarily the loudest in the room, but they command respect from others through their actions and behaviors.

 Where to find them?  Look for the person you might consider “the most consistent and reliable” in the organization.

How to elevate them? Develop them. Provide them with coaching and professional development around how to identify and cultivate talent on a team. They may serve as a great player-coach or manager one day.

The Worker Bees

People who display the same work ethic with or without metrics or schedules. They march to the beat of their own drum when it comes to how to get the work done, but they always get it done.

Where to find them? Look for the person who comes in at 9:15 but is working on a Saturday.

How to elevate them? Reward them with “flexibility” as a bonus. Additionally, allow them to continually create new standards and procedures for the office and teach others how to implement.

 

How many can you find on your own team?  

This is a question I ask many of my advisor-clients as they gear up to hire yet another service-oriented team member. “Are your office policies and procedures documented?” I ask. “Do you have institutionalized systems and processes around client acquisition, client service and client engagement?” “How clear are team members on company objectives and quarterly goals?”

Teams are not always at capacity as quickly as they think they are. Often advisors will feel the need to bring on additional support when work begins falling through the cracks or when team members aren’t meeting deadlines. More times than not, that additional hire fails to “solve the problem” and simply falls into the same inefficiency trap as everyone else; and the work that can be done by two people has now been distributed among five. (Technically speaking every 100 clients / 100 million in assets can be managed by one lead advisor.)

Consider the following three questions the next time your team tells you they feel they are at capacity:

 

1) Are expectations clearly set with clients during the onboarding phase?

Imagine never having to “chase” clients down for business reviews, or never having to field a phone call from a client with an issue that could be managed by someone else…

The client onboarding phase is critical. It gives you and the team the opportunity to set expectations with clients about service, as well as their relationship with your team. By the time they are officially a client they should know: how often they will be meeting with your office and when, who specifically they will be meeting with, whom to call with questions and concerns, where to find important information about their accounts and policies and what to expect overall from you and the team over the course of their life cycle.

 

2) Do you use technology effectively?

And I don’t just mean, “do you have a CRM system?” I mean, is there someone in your office dedicated to keeping up to speed on technology and artificial intelligence.There are thousands of programs and apps designed to create efficiencies for financial advisory organizations; from digital scheduling tools to internal team communication systems (e.g. Slack), each year you should be finding more ways to use technology for day to day operations.

 

3) Are there more exceptions than there are standards relating to client planning needs?

Although each client situation is unique, you should identify several client profiles that exist within your book. If you don’t already, create a standard way of thinking around how to approach a client’s needs; the way in which you build your advisory models, the way review meetings are run, what documents, tools and resources are brought into each meeting, and the way the plans are updated each year.

The most powerful conversations you can have around day to day efficiencies will come from the conversations you have with your team members. Begin by engaging them in a discussion around the above questions.