When Brian Vrana, Managing Director of Northwestern Mutual Nebraska, hires new Financial Representatives he knows that certain characteristics count. The difference between a top producer and those who don’t make it beyond the first year can be a swing of thousands of dollars a year.
As their offices review hundreds of candidates a year, Brian needed a way to better assess the fit of potential candidates. Proper fit of personality and work values can make or break the eventual hire’s success. Using Vitru, Brian was able to identify that his top Financial Representatives were motivated by an environment that provided a challenge and an opportunity for advancement. Poor performers seemed to not thrive in this type of environment. By asking potential candidates to complete the Vitru profile during the interview process.
“A Northwestern Mutual executive estimated that it cost between $5,000 – $25,000 in the first year to onboard each person, depending on whether they make it through the first 75 days or last the entire year. Typically only 25-50% remain after the first year. That means if you hire 10 new reps a year and conservatively estimate an investment of $10,000 per hire, those 5-7 reps that leave each year could be costing you over $70,000 annually.
The Vitru platform also empowered Brian to be able to create his own teams and see the personality and motivation of team members by location, manager or any other variable he wanted to dream up. This allowed him to understand the different sub-cultures within his district and align individuals to the right manager or opportunity.
Once Brian was able to map out the specific culture for a team, he was able to use the Vitru platform as a recruitment tool during candidate interviews. When interviewing potential mid-career changers who were looking to take their current financial careers to the next level with Northwestern Mutual, Brian was able to show in real-time how the individual fit with the current team or office. Several of these candidates admitted that potential fit was one of their biggest concerns and felt relief at knowing they were a match.
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