Fact or Fiction?
The best way to gain an advantage over my competition if to hire away their top performer.
Their loss = my gain (or so the thinking goes!).

Bad idea.

True, high performers share a set of characteristics and core attitude, but much of their performance is tied up in other factors that are external to them.

The factors can be summarized into four primary categories:

  • Fit with the manager/practice owner
  • Fit with the critical aspects of the role
  • Fit with the people around them, and
  • Fit with the practice culture and systems.

Most often, poaching talent results in three losers – you, your competitor, and the fallen star.

The fact that they are a consistently top performer in another practice,  even in a similar role, is not a guarantee they will achieve the same results in your company.

A far more effective strategy is to identify people who have the capacity (and Skills) to do well in the reality you present.

When you find candidates who are at their best in the management climate you offer, who are drawing from their natural strengths and talents in the role you offer, who engage easily and productively with the rest of the team and your customers, and who are proud to contribute to the organization … you have a winning combination.

And it might not be the person you think it is.

The most valuable competitive advantage for any business is to staff with star employees who perform better and stay longer.

That’s the Fit First philosophy.

FICTION: More often than not, hiring away the competitor’s star performer results in a three-way loss: For you, the competitor and the individual.  It will also not ingratiate you in your professional community, and eventually you may need each other.

Fit First Philosophy starts with this premise. Hire for Fit, and then train as needed.
Save yourself time and money.
This post is sponsored by EyePloyment.com and Fit First Technologies

Learn more.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.


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By Dr. Trevor Miranda. 

Dr. Miranda will be regularly contributing his thoughts and perspectives on the topic of Independent Eye Care Practice in Eye Care Business Canada.

In life and at work, we can often think it is easier not to think of something to avoid having to use the scarce resources of time and energy to properly deal with the task at hand.

For me, it’s organizing my closet or cleaning the garage. I cope by putting it off but every time I open my drawers I am reminded that it needs my attention (I finally did tidy the garage and I feel so much better!).

My stress could be reduced by just stopping the avoidance of these tasks!

Multi-tasking Owners are Challenged

Independent optometric owners have to juggle many responsibilities. Marketing, human resources, inventory management, cash flow, financial statements, scheduling, tax planning, budgeting, equipment purchasing and maintenance, product information, staff training, patient experience, E-Commerce and many other duties can easily overwhelm the minds of optometric owners.

Beyond that, the responsibilities of continuous learning on glaucoma, macular degeneration, vision therapy, low vision, myopia management and primary eye care further compete for optometrists’ time and energy.

Wearing all these hats is very challenging and often leads to avoidance coping.

Avoidance coping is a maladaptive form of coping in which a person changes their behaviour to avoid thinking about, feeling, or doing difficult things.

Stress Management versus Stress Avoidance

Avoiding stress might seem like a great way to become less stressed, but this isn’t necessarily the case.

More often than not, confronting a problem or dealing with a stressor is the only way to effectively reduce the stress it causes.

We strive for “stress management” rather than “stress avoidance”. Usually, procrastination or trying not to think of the stresses leads to further stress and increased frustrations. Actively managing stress is a more healthy and productive strategy.

Ways to Manage Stress

Delegate (don’t abdicate):
Delegation of duties is an effective way to distribute responsibility and accountability.

Effective delegation requires structure and training. It is important that there is oversight of delegated tasks.

This means using “SMART” goals: Specific, Measurable, Attainable, Realistic, Timelines.

As an owner, it is important to be briefed regularly on the status of a particular portfolio. For instance, delegation of marketing in your practice should include a regularly updated budget and a yearly marketing plan with regular reviews at predetermined intervals.

There are task management applications that can assist in overseeing these delegated tasks; examples include Monday.com and Trello.

Delegation of tasks can be divided among the entire team rather than residing as the responsibility of the office manager. For instance, one staffer can be in charge of outstanding accounts; another in charge of ordering supplies.

We utilize Slack to assign tasks that combine communication to both assignee and assignor until task competition. The management of outstanding tasks allows compartmentalization of these potential stresses and combats avoidance.

Empowerment:
Cultivation of empowerment in each team member to be part of the solution is important to stress reductions and better office functioning.

The culture of not passing the buck or saying “that’s not my job” is crucial to a shared responsibility and accountability. This helps reduce the burden and decrease potential stress.

Macromanagement:
Leaders guide their businesses in a directional way. Avoiding micromanaging will reduce stress.

It is important to quickly address large issues but avoid managing each and every mistake. Resist the urge to point out every mistake as this can be demotivating and depressing while adding stress on both sides.

If something is particularly bothersome, ensure you are not actively frustrated and address the issue in private with the appropriate compassion and honesty. Collaborate on ways to improve with training and feedback. Getting buy-in is crucial.

Avoiding difficult conversations will only add to stress levels. It is better to act like the CEO of your optometric business. Guide the ship through small directional maneuvers rather than being stuck in reflexive reactions in day-to-day events.

Outsource:
Another way to help manage the myriad of responsibilities is to outsource to experts.

Companies offer marketing, human resources, accounting, and even optical dispensary management where experts take on the responsibility and reduce the owner’s stress load.

Don’t avoid the necessary time it takes to manage these areas properly. Use outsourced experts that are accountable for results and preset timelines.

I remember when I started my first clinic. I answered the phones, did the accounting, cleaned the office and helped in frame selection.

All of these duties are currently not my direct responsibility. It is important that you change as you grow.

Learning the business by doing it yourself is great if you’re capable, enjoy that aspect of business and have the time to do it.

As your business grows your management techniques need to adapt. With five clinics and a growing team, I know that I must adapt to actively manage stresses rather than avoid them.

 

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

As a serial entrepreneur, Trevor is constantly testing different patient care and business models at his various locations. Many of these have turned out to be quite successful, to the point where many of his colleagues have adopted them into their own practices. His latest project is the Optometry Unleashed podcast.


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Disability insurance is one of those things none of us really wants to own, let alone claim.

However, you are your greatest asset and as such, you do need to protect yourself, your family and your net worth in the event you should develop a serious illness or long-term injury.

But, did you know there are other forms of disability insurance that can be extremely valuable if you are a business owner?

Business Office Overhead
How long could your business run if you weren’t there? Would you have to lay off your entire staff? Drain your bank accounts to keep the doors open?

How quickly could you get a locum in or extend your associate’s work hours to compensate for an extended and unplanned leave?

Business office overhead disability insurance is a reimbursement based product that can be used to cover expenses to keep your office open up to 24 months after the start of a claim. It does not cover your salary however, so you will still need income replacement disability coverage for that. Keeping your business going while you recover, finding a replacement or arranging a sale will be key to ensuring that you don’t unnecessarily cripple your entire financial future.

Disability Loan Protection
In some instances, you can actually purchase a disability plan that covers your business loan payments. This is especially important if you have recently purchased a practice from another practitioner and have fairly sizeable loans. This type of plan is often less costly than the business office overhead plan, and like the business office overhead, it helps keep your investment secure for your return, or eventual sale.

Disability Buy Sell Insurance
So, you have business partners. This can provide you with some extra comfort to keep those doors open and business expenses covered, but what happens if your partner isn’t able to return to work? How long do you want to keep covering those expenses for a partner who isn’t coming back to work? And if you are the disabled party, how long do you want to hold onto your share of the practice for?

Disability Buy Sell coverage provides you with a funding mechanism that can assist the healthy partner in buying out their disabled partner. Although premiums come with a cost, they are typically far less expensive than paying out of profits. These plans can be triggered at various stages based on what fits your business marriage, often 18 or 24 months. Such plans also provide you with a clear definition of when the disability buy/sell clause in your partnership/unanimous shareholder agreement gets triggered, helping to take the emotion and personal decision out of the equation.

Claim Start
All disability plans have an elimination period. This is the period of time you have to wait before benefits will begin. It may be as little as one day with a hospital claim rider, or up to 24 months. The longer the elimination period the lower the premiums will tend to be. There is typically a sweet spot where lengthening the elimination period isn’t worth the drop in premium cost, so it is worth the conversation.

In addition, claims are always paid in arrears. This means that you won’t actually see a cheque until the end of the next 30 days after your elimination period. From a cash flow perspective, you need to ensure that you can financially support yourself and your business for an extra 30 days past the elimination period.

So Much Insurance
Insurance can be a lot more complicated that it appears on the surface, so it’s important to know that your agent has asked you all the right questions and truly understands your situation and cash flow in order to provide you with the best advice they can.

Like with all types of insurance, we really should be focusing our premium dollars on what would cause us the greatest harm should the event occur. Disability is truly a greatest harm scenario.

We don’t like being sick or injured. We often have additional expenses because of the disability, and it may not impact our overall lifespan.

So, protecting yourself from the greatest harm is key (wear your seatbelt and eat healthy) and protecting your assets from a great threat is vital.

Advisory
As your Chief Financial Officer, I am here to help you understand your money and assist you in making smart decisions about your debt repayment, insurance protection, tax management and wealth creation.

Have more questions than answers? Educating you is just one piece of being your personal CFO that we do. Call (780-261-3098) or email (Roxanne@C3wealthadvisors.ca) today to set up your next conversation with us.

Roxanne Arnal is a former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission of Empowering You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS).  She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in  2012 to leave optometry and become a financial planning professional.  She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Roxanne splits EWO podcast hosting duties with Dr. Glen Chiasson.


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Fact or Fiction?  – There’s no point in investing time in Millennials and Gen Z employees. They are too disruptive, demanding and won’t stay for more than a year anyway.

Sure, the workforce has changed over the last 30 years, but the answer is not to find more people your age to staff your business.

The challenge is to help managers figure out how to create a workforce that harnesses the energies and talents of employees, including younger ones, and converts those energies into profits.

Contrary to popular belief, the young people entering the workforce are generally not flighty and do not want to skip from job to job every year or two.

In fact, research continues to show that, just like the rest of us, the younger workforce wants nothing better than to find an employer where they can do meaningful work, see the value of their contribution, learn, and grow.

That said – the younger generations do have less tolerance for bullshit and are not likely to put down roots with an organization that treats them as less valued employees because of their age.

There’s no point in investing time in Millennials and Gen Z employees – FICTION

The most valuable competitive advantage for any business is to staff with star employees who perform better and stay longer. Even the young ones!

Fit First Philosophy starts with this premise. Hire for Fit, and then train as needed.  Save yourself time and money.
This post is sponsored by EyePloyment.com and Fit First Technologies

Learn more.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.


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In his current role as VP, Optometric Partnerships, Dr. Michael Naugle oversees the growth and development of the FYidoctors banner in Canada and is a key figure in recruiting new optometrists. From the company’s inception in 2008 up until 2015, he served as Vice-Chairman of the Board of Directors and Vice Chairman of the Advisory Committee.


About the Guest

Dr. Naugle has held many leadership positions throughout his career. Since 2011 until 2016, he served as the Optometry Chairperson of the Canadian Coalition of Eyecare Professionals (CCEPro), a grass roots coalition of ophthalmologists, optometrists, and opticians.

He is the a past President of the New Brunswick Association of Optometrists in 2000-2002, before which he served as the Registrar of the New Brunswick Association of the Optometrists from 1997-1998.

Dr. Naugle was part of a large group practice in Moncton, New Brunswick, that was one of one founding groups of FYidoctors. In 2017 he transitioned full time to the FYidoctors leadership team and is the executive sponsor for the Future Vision Leaders Program supporting the next generation of Canadian optometrists.


Episode Notes

EWO host, Dr. Roxanne Arnal talks with Dr. Michael Naugle about the challenges facing Optometry today, with a focus on those faced by the newest generation of ODs.

Dr. Naugle outlines how the Future Vision Leaders forgivable loan program is tiered by location providing an up-front loan of up to $100,000 which is forgiven by $20,000 for each year the recipient is with FYidoctors. He outlines eligibility and how the program is tiered based on geographic location.

Dr. Naugle breaks news regarding a new collaboration with New England College of Optometry (NECO) which supports 3rd and 4th year Canadian students with a full forgivable loan to cover 3rd and 4th year tuition.

He provides concrete examples of how the “doctor-owned – doctor-driven” DNA of the company has lead to providing superior patient care through the unusual acquisition of diagnostic tools for members.

Dr. Naugle explains how the traditional binary roles of owner/manager or clinician has been expanded at FYidoctors to accommodate different perspectives for ODs at all stages of career development by adding options that include leadership without ownership and ownership without the burden of management – an innovative and flexible approach.

Listen to the full 29 min. podcast for further insights into the FYidoctor story and evolution.

Resources

 

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS).  She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in  2012 to leave optometry and become a financial planning professional.  She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Roxanne splits EWO podcast hosting duties with Dr. Glen Chiasson.


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Being an optometrist isn’t easy as there are so many things to look after, primarily when you are subleasing and don’t have control of the optical staff. Subleasing has plenty of benefits to offer, including having trained staff who work under your wing and assist you in your daily operations via your contract.

So, what happens when your staff makes errors and makes it difficult for you to run your practice? Such errors include not collecting payments on time from patients.

This isn’t beneficial for your practice and can result in significant losses. So, what should an optometrist do in such a situation? Let’s find out:

Collect Payment Before Treatment
This practice may not be allowed in some jurisdications, which is why it’s crucial to check before implementing . When you collect payments from your patients first, it can help you have clarity whether the patient has paid or not.

If your optical staff fails to collect payment from the patients after the treatment, you’ll be looking at a loss. You would have provided quality treatment to the patient and would note  even get paid for it. See if you can collect payment first.

Hire Your Staff
When you sublease space to run your practice, you will likely have to work with the existing staff. However, it can become problematic once the optical staff makes enormous mistakes. I

In such a situation, you should hire your staff. You can interview yourself to see their potential. When you have the right people for the job working under you, you’ll experience fewer errors and more ease.  Interview potential candidates thoroughly before appointing them, and have a much smoother experience at work.

Set Up Online Payment
If your staff forgets to collect payment from the patients, one thing you can do is ask them to call those patients, apologize for the oversight,  and ask for the payment.

Since your staff made the mistake of collecting payment, they should be the ones who make the call. Also, another suitable way to collect payment would be to set up an online payment option where patients can pay before getting the treatment. This way, you’ll receive the amounts, and your staff wouldn’t have to go after the patients regarding payments.

The Paper Trail
There should be paperwork for everything, including collecting payments from patients. You should have access to the invoices stating that the patient has paid a certain amount of money to receive a particular treatment.

Once you have all the documents, you’ll have proof that the patient has paid, and your staff didn’t forget to ask for the required money. Also, if there’s an invoice missing, you’ll immediately know that your employees failed to fetch the payment.

Do it Yourself?
This isn’t your job as an OD, but if your staff is not on top of things, you’ll have to step in. If you want to ensure your patients pay you the money you’re entitled to receive, you should collect it yourself at the end of the treatment. This way, you won’t have to run after optical staff to do so, and you’ll have your dues as well.

MARIA SAMPALIS

is the founder of Corporate Optometry, a peer-to-peer web resource for ODs interested to learn more about opportunities in corporate optometry. Canadian ODs and optometry students can visit www.corporateoptometry.com to learn more.


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End of Time

By Dr. Trevor Miranda. 

Dr. Miranda will be regularly contributing his thoughts and perspectives on the topic of Independent Eye Care Practice in Eye Care Business Canada.

Time may be our most precious resource. Time has a finite and infinite horizon depending on the reference point. We all know and understand the saying “time flies when you’re having fun!” When you can’t wait until the end of the day rolls around, time seems to go slow, punishing you for watching it, agonizingly; seemingly consciously slowing the seconds down.

When it comes to time at work, most of us spend half our waking day “making a living”. It is estimated most people spend one third of their life at work.

There are those that dread these work hours. They work to have time off. They don’t enjoy work and their time at work brings them stress, anxiety and lack of fulfillment.

Then there are those of us that enjoy working. We choose an attitude and a mindset by embracing the day at work with excitement and anticipation. In this way, work is not so much about time as it is about the individual interactions and experiences that every day brings.

Slow Down Doc!
In my early career as an optometrist, I would fret about being late for my next patient. I was worried about the emergency “fit -in” that would distract my mind from the patient right in front of me.

One patient told me to slow down. It made me realize I was doing it all wrong. I still really like running on time but now I give 100% attention to my current patient.

I started using a chair-side assistant that scribes my notes so I can give full time eye contact to my patient, engaging with them on a deeper level. Rather than having to turn my side to them and type notes (I use the hunt and peck typing method), I can now pick up general body language and nuances to ensure my patient understands and can comfortably ask all their clarification questions.

I won’t leave until all questions are answered. I use videos to send information about disease conditions and invite follow-up dialogue if required. I page my optical experts to be present in my exam lane to enable a seamless hand off resulting in increased confidence in my recommendations that are reviewed by the opticians. This in-lane hand off produces greater optical capture rates and improved compliance to treatment plans.

Saving Time
Being time efficient or “lean” is something that can pay off both financially and in providing more time for other options. I calculated that saving two minutes per patient would equate to 16 days of time off or extra patient slots (based on 16 full exams over 48 weeks).

This can be done by delegating contact lens trials, utilizing a scribe, in lane handoffs, using multiple exam rooms, having scans and phoropter prepared for the patient in advance and many other ways to improve patient flow and efficiency.

Once you have saved the time you can decide if you want to use it to buy more time off or to see more patients.

So next time you are thinking why is the day dragging on, change your perspective and enjoy and be thankful for every minute of your day!

Quality Versus Quantity
It is not the amount of time that you spend with the patient that matters; it is the quality of that time.

Important to ensure you maintain as much eye contact as possible while the patient is speaking. It is challenging to look away and make notes and still have that patient know you are listening.

Delegate data gathering to techs and use the doctor’s time to listen, recommend and customize solutions for your unique patient.

Creating an amazing experience requires the team to be able to flex around each individual patient’s needs. I don’t like to see patients “waiting”.

I would rather the patient’s perception be of a new experience. Techs let the patient know that the exam is starting with some testing before they see the doctor. Perceived wait times are minimized by “pre-shopping” for glasses and education via videos on conditions and solutions which are chosen based on the patient’s profile.

The Acceleration of Time
As we get more mature in our work lives and the years pass by, we often lament that the years are going quickly.

This usually comes with the realization that time is precious and we don’t have an infinite amount of time left on this earth.

I find myself full of gratitude for each day; it’s a blessing to have the privilege to go to work, walk the dog and learn new things.

After 27 years as an optometrist, I am hoping for 27 more but thankful for each one!

 

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

As a serial entrepreneur, Trevor is constantly testing different patient care and business models at his various locations. Many of these have turned out to be quite successful, to the point where many of his colleagues have adopted them into their own practices. His latest project is the Optometry Unleashed podcast.


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Fact or Fiction?  – To really know a candidate, you need to rely on a good set of behavioural interview questions. Past behavior is, after all, the best predictor of future performance.

Not really. The concept of asking behavioural questions was a tremendous innovation that improved the value of interviews almost immediately… a few decades ago.

Candidates are now acutely aware of this approach and are well prepared for these questions. Add to the fact that candidates have a natural tendency to answer questions from the perspective of what the interviewer wants to hear.

The best way to truly understand how a potential employee is going to behave in the real corporate setting is to ask a completely different kind of question – what we refer to as a tertiary-level question.

The objective is to ask questions that go beneath behaviour and have the candidate tell you stories about what worked for them and didn’t as it relates to other people, jobs and situations. This approach allows you to gain insight into their core – the attitudes, beliefs and values that drive them.

These are the things that will predict the behaviours that are exhibited when nobody is looking, and that will give you a clear and reliable indication of how the candidate will fit in your business, in the job, and with co-workers and clients.

The most valuable competitive advantage for any business is to staff with star employees who perform better and stay longer.

That’s the Fit First philosophy.

To really know a candidate, you need to rely on a good set of behavioural interview questions. Past behavior is, after all, the best predictor of future performance.  FICTION  – Mostly!  

Fit First Philosophy starts with this premise. Hire for Fit, and then train as needed.  Save yourself time and money.
This post is sponsored by EyePloyment.com and Fit First Technologies

Learn more.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.


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SEEING THE VALUE OF LICENSED OPTICIANS AT THE HEART OF SPECSAVERS’ PURPOSE

To ensure clinical excellence, Specsavers has set out to build the largest network of opticians in Canada.

This is because Specsavers believe opticians are crucial to providing high-quality patient care, as they directly and significantly influence a patient’s quality of life.

Claudia Rojas, Head of Opticianry

Leading the charge is Claudia Rojas, Head of Opticianry, Specsavers Canada.

Claudia has over 20 years of experience working as a licensed refracting optician and has made tremendous strides in the optical industry.

With her commitment to promote eyecare and eye health awareness, Claudia has served on the College of Opticians of British Columbia and is currently the Vice President of the Opticians Association of Canada (OAC) and President of the OAC’s British Columbia Chapter.

“In my new role as Head of Opticianry, I am guided by my commitment to promote eyecare and eye health awareness,” said Claudia Rojas, Head of Opticianry at Specsavers Canada. “I look forward to broadening our network and ensuring opticians feel relevant, important and appreciated, as they are integral to the eyecare industry.”

Specsavers aims to have at least one optician present at all optical stores, at all times, to mentor eyecare consultants and optimize patient care.

“Opticians are integral to the delivery of Specsavers’ purpose, which is to provide accessible, quality eyecare and affordable eyewear,” said Bill Moir, General Manager of Specsavers Canada. “With Claudia at the helm, we’ll continue to support, train and mentor opticians to provide the best care possible, for example, using our OCT scans as a standard part of pre-test and our range of quality eyewear and advanced lenses, to best serve their patients.”

Specsavers is committed to offering its retail team career-progression plans to become licensed opticians and contact lens practitioners through a sponsorship program currently in development.

Click HERE for the full press release.

This post is sponsored by Specsavers Canada.


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Fact or Fiction?  – We need to offer top pay and benefits to attract and keep top performers.

Maybe, but research and experience show that pay and benefits are among the weakest ties to an employer.

There’s no question that you need to offer an attractive package, but if these things are generally aligned with industry standards, other factors become much more important in attracting and retaining star employees.

The Four Fits
The factors that attract the right candidates and keep them focused and productive are what researchers refer to as the four critical aspects of fit.

Fit with manager is the most important – it’s crucial. The others are fit with the job, fit with the team, and fit with the company.

It’s surprisingly easy to filter people into a conversation with you based on these aspects of fit, and yet remarkably few organizations have figured out how to do it reliably. There are reliable and proven tools to do so (and intuition is generally unreliable.)

It’s Fiction. You don’t need to offer top pay and benefits to attract and keep top performers. Align your offer with the industry standards and hire (and retain) for FIT!

The most valuable competitive advantage for any business is to staff with star employees who perform better and stay longer.

That’s the Fit First philosophy.

Fit First Philosophy starts with this premise. Hire for Fit, and then train as needed.  Save yourself time and money.
This post is sponsored by EyePloyment.com and Fit First Technologies

Learn more.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.


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