Three ways to stockpile Talent

I just finished a very long productive with a client of mine.  They are a Top 20 independent insurance brokerage firm based in the WDC region.  Without mentioning any names, they are one of my favorite clients. 

Since 2006, we have worked together to stockpile WDC metro sales and account management talent for their insurance organization. 

They are innovative. They are proactive. And they play to win.

But what really makes them different than their competition?

Simple.  They stockpile Talent. 

Together we expertly identify it, acquire it, develop it, and then empower it.

I took notes during our meeting today on just how we accomplish this. 

Here are three things I wrote down:

Talent Scouting: My client has my firm on a quarterly retainer to provide them with top talent whenever I come across a candidate who has the attributes, skills, and experience that are in direct alignment with their corporate culture and long-term strategy.

They pay me up front so they get first crack at any qualified candidate that meets their specific requirements.

It makes no difference if they have an opening or not, when a new candidate that meets their criteria surfaces, we swing into action getting them into their recruiting process. 

Last year we came across a super successful sales guy with an extensive background selling payroll services. 

He had no previous experience selling insurance, but had the exact attributes and personality this client seeks. 

We presented this candidate and within two weeks they hired him.  In his first year, he rang up $210k+ in new production. He’s a super-star.

Talent Partnering: The truth is that most recruiters are considered by their clients to be a necessary evil – headhunters – not to be trusted and many times being viewed as a threat by Human Resources.

My client takes the opposite approach.  They view us as a partner and not an unsavory vendor. 

I know exactly what this client is seeking at all times because they include me in their high-level strategy meetings once per month.  This highly consultative approach allows us to understand my client’s hiring needs in advance in addition to understanding their short-term objectives and long-term goals. 

It also allows our recruiters to be very efficient when conducting an executive search for them because we know exactly what they are looking for at all times.

In a summer 2023 client meeting, my client expressed a desire to expand into a new industry vertical – construction. 

It turns out that we had a senior executive contact who had done the exact same thing for a Top Five WDC broker in the past.  A really good guy too. I reached out to him and within 30 days, this individual was their new V.P. of Construction.  The new group has already grown to seven individuals in just over one year.

Talent Stockpiling:  One thing that sets this client apart is they are not afraid to hire top talent even if they have no current needs.  They understand the tight market for talent and the difficulty in acquiring it at the right price. 

If they see an opportunity to bring a star on board, they do it.

I had a senior commercial lines account executive call me right after Christmas telling me that she was passed over for promotion and got shorted on her year-end bonus. 

I have known this individual for ten plus years and she is one of the best in the WDC region at what she does. 

I picked up the phone and informed my client of this individual’s willingness to have a conversation with a new firm.  They had no openings.  But they hired her anyways. 

She hit the ground running and at about the same time the producer mentioned above started bringing several large accounts that needed immediate client servicing and hand holding. 

The timing wasn’t perfect, but it worked out well in the end.  Right now, this tandem team is lighting it up. 

THE TAKEAWAY: Are you looking for top talent all the time or just when you have an urgent need?  Is your recruiter a vendor or your trusted partner? 

Do you really believe that Talent is the ultimate differentiator between winners and losers in the insurance market place?