Keys to making a good fourth quarter producer hire

Like a good bargain on Black Friday, making a producer hire in the fourth quarter has many advantages.  On Black Friday you do have to deal with your alarm clock going off at 2:00 am, long lines upon arrival, grumpy and tired customers, and even trampling in some extreme cases.  Obstacles also tend to hold back our clients from making fourth quarter hires -- 1/1 renewals, fourth quarter budgeting, the holiday season, and much more.  But I would like to point out three main reasons why making a fourth quarter producer hire could provide huge dividends going into a new year.

1) Get a jump on the pipeline -- if we were all honest with ourselves, we would acknowledge that many producers actually take it easy during the last six weeks of the year.  So what better time to be calling on your competition's clients than during this time of the year.  People are generally in a good mood, they are likely not getting many other calls, and would be amenable to receiving a call or email.  You may not close any deals (especially 1/1's), but will have made valuable introductions to get your name out there.  Plus now when January 1 does roll around, the producer will be knee deep in the process and not lethargic themselves from the holiday season.

2) Eliminate chances for "window shoppers" -- if a producer is having a bad year, they are likely to survive through the end of the year and perhaps kick start a search as a New Year's resolution.  If their numbers were low the previous year, they are likely to feel the pressure going into a new year.  Instead of digging in and really trying to make things work, they may just shop around to see if another company would hire them and provide a two-year guarantee.  That is the textbook definition of an active candidate vs. a passive candidate.  And exactly who you want to stay away from.

3) Increase chances of finding a "steal" -- although holiday shoppers often buy things on impulse during Black Friday, I would argue that not many actually have buyer's remorse.  They may not get as big of a deal as they thought advertised, but they likely save a little money for their shopping acumen.  In the same regard, an agency especially could really get a good producer by "advertising" a bit during this time of year.  Rather than pointing out the obstacles I mentioned earlier, get the word out that you are looking to make moves before the end of the year.  That will pique a producer's attention and if the story is told right could motivate them to talk before the end of the year.  Now you have that producer on board and ready to make an impact rather than waiting for January or February to even start the conversation.  It is common sense for a company to be considering adding to staff at the beginning of the year.  Perhaps even have a specific number in mind of how many "new" producers they want to hire.  But that is conventional and expected.  To get true talent you must consider being unconventional and catch everyone off guard.