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Using Money as lure

Written By: Tiang Chuan on October 7, 2008 No Comment

There is a recruitment ad in today’s edition of The Straits Times. Part of the wording goes like this ‘Attracting applicants with the relevant experience and qualifications for a Confidential discussion on your compensation package. Attractive establishment allowances, commissions and bonus payouts await you!*. *Terms and Conditions Apply.’. Make a guess who the recruiters are trying to attract?

They are trying to recruit insurance agents, or also known as financial advisers. Can’t tell from the ad wordings can you?

I find it really sad that agency recruiters have to resort to pure monetary compensation to attract ‘talent’. Although my gut feel is that this ad is not meant for the newbies but for experienced agents from another company that has been in the news lately for the wrong reasons, this ‘indecent proposal’ is still too much. Is money everything? Sure, money is important. One can do alot with money and lose out alot without money. But there is more to life than just money. Money hungry ‘talents’ can help you flourish, but they too can destroy you. You can never be sure what these people can resort to in their relentless pursue of monetary wealth. Minibombs anyone?

Whenever the topic of recruitment crops up, our MD, Mr David Choo, has always stressed on the importance of bringing in good people. Not top producers, but good, honest and ethical people. Industry practitioners have to realise that what you are recommending could impact others for many generations. Will you be able to look at the family members in the eyes should the day come when you have to deliver a claim? Will you be able to sleep at night when old retirees could lose all their life savings by placing their hard earned money with you?

With such strong emphasis on monetary compensation in recruitment, it is no wonder that mis-selling, churning and twisting are so prevalent.


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