Recruiting a quality PA

Recruiting a quality PA can be a gamble, however, if the right person is selected it can pay off handsomely

The popular (and outdated) view of a personal assistant (PA) has been someone, usually female, scurrying behind an influential business or political leader, hastily scribbling down notes and appointments.

While the role is still predominantly owned by the fairer sex, today, a PA can mean the difference between running a successful enterprise or one that crumbles before it's even had a chance to get off the ground.

PAs have in fact become an integral facet to every business, given the increasing demands and schedules assumed by small business operators, including brokers.

Recruiting a top PA can ultimately result in the streamlining of operational efficiencies internally, allowing the broker to focus more of their attention on selling loans.

The tipping point

According to Lynn Beggs, regional director of HAYS, the prominence of PAs has become much more profound in the past couple of years, largely due to a booming economy and people typically leading much busier lives.

She says there is no magic number or ratio used in determining the need for a PA, although a good indication is feeling overworked and an inherent belief that one is spending too much time on tasks outside of their primary role, such as administration.

In weighing up whether a PA could add an extra dimension to a business, brokers and franchisees need to resolve if the PA will be challenged, as according to Beggs, gone are the days when a PA simply answers the phone and makes the morning coffee run.

"Any small business operator needs to really put some thought into who they want and what they want to get out of it - do they want a PA or a sales co-ordinator or a loan writer, or someone who can work across several positions?" she says.

For Louise Skilbeck, director and sole practitioner of Fifty Plus Finance, the demand for a PA followed a feeling of being overwhelmed at work as well impossible hours spent away from family. "I chose this career because I wanted the work-life balance and that initially worked but what's happened is I've done well and it's now taken over my life...I want a life back," she says.

According to Skilbeck, the reactionary nature of the mortgage industry also adds to the case for hiring, with clients wanting to arrange appointments outside of work hours in ploughing through the sales process.

Admittedly, she feels recruiting has never been a strong point and after several attempts, she is yet to find a suitable person for the role, made particularly harder given her office is also her home.

Skilbeck sees clients out of office four or five times a week, and says given the administration burden behind ten to fifteen hours of work per client, a quality PA should help restore that balance.

She believed the tipping point is also revenue driven - once your trail commission are high enough to pay for the luxury of PA, that's when you need one.

Lisa Montgomery, head of marketing and consumer advocacy for Resi Mortgage Corporation, says the one of the key catalysts for success, particularly for franchises, is the ability to forego the office in building external networks and referral bases.

"The services of an efficient PA can be a vital ingredient to overall business growth and success...the result is almost always a growth in business volumes and long term profitability," she says. 

Agency vs advertising

In physically going about advertising and ultimately hiring a PA, the most critical thing to know is there is no right or wrong approach; nor are there any guarantees.

Not dissimilar to any other profession, recruiting a PA can be both timely and costly, but there are some aspects of the process to familiarise oneself with in minimising impacts on a brokers schedule and bottom line.

Fundamentally, know the traits you're seeking in a candidate, the status of the employment, salary and conditions being offered and the description of work to be undertaken.

Seek recommendations from colleagues or industry associates, and learn from mistakes made by others, like Skilbeck.

"It seems to be where I've gone wrong is the banking experience. When I went out looking for a PA I must admit I wasn't looking for that - I was looking for office skills and (Microsoft) Word and different skills to do with Excel," she says.

While working from home has its obvious advantages, Skilbeck knows it's not for everyone and instead, deliberately targets those she feels would suit the surroundings, and also supports the growing trend of job-sharing, advertising the vacancy in local school newsletters.

"The people who would like to work in this environment are mum's who are returning to the workforce," she says.

Skilbeck, though, has grown increasingly frustrating at the time invested in training a new recruit, only to have them leave a short time later - as is the case with some of the people she has hired in the past.

One particular candidate, who looked suitable on paper, turned out to be a costly investment and despite impressing throughout the interview process, lacked the skills and initiative necessary.

"I was spending $1,000 a week training them and one girl was here for about 15 weeks so I may as well have gotten that $15,000 and thrown it in the wind. I was trying to bring her up to speed and it just didn't work. She didn't have the skills I understood she had when I interviewed her. I looked at her background and assumed it was all correct," she says.

Skilbeck has also recruited help under the premise of word of mouth on one occasion. While the person hired based on this recommendation was more than competent on the job, the lack of a social outlet in a home-office environment proved too inhibitive.

Using an agency

Popular with many brokerages and indeed other areas of financial services is to employ a recruitment agency. According to RESI's Montgomery, it's advisable to research the market.

"Look for a recruitment agency that specialises in the financial sector. If you can't readily identify who these agents are, ask a cross section to provide you with an overview of the types of positions they have filled in the last 12 months. Interview the recruitment agent, ask them to provide you with details of the positions they have filled recently," she says.

Lynn Beggs, regional director at HAYS, believes success in matching a candidate to a client is directly attributed to personality type, and whether they have the potential to fit within the culture of the client's business.

Most recruitment agencies maintain an active database of people looking for work, and depending on the needs of the client, they may use this database or advertise through either print or online sites.

On receipt of applications, there's an initial screen over via telephone for approximately 25 minutes, and then an hour interview face to face, and finally appropriate tests on computer packages, such as Word, Excel and Outlook.

Given the sensitivity of the role and dependent upon the client's agreement, police checks can also be conducted and verifications made with past employers.

An inside job

Beggs asserts that despite a heightened awareness of the role PA's play, many still underestimate the legitimacy of their position.

Not only does a successful PA have to possess the organisational and professional skills of the role, but personal traits, such as the ability to work under pressure and represent the broader team are crucial also.

'They're booking the travel arrangements, they're organizing events...they have to have attention to detail - this is a detail thing. They also have to have a sales approach when dealing with clients either over the phone or in person. They do so much more than anyone thinks they do," she says.

According to Montgomery, tasks undertaken by a PA should logically reflect peak periods of business, so they need to be able to adapt quickly and prioritise.

"The majority of these times would revolve around settlement of loans. A typical PA/ loans packager role would see deals through to settlement and ensure all documentation is dispersed to the appropriate parties. It's also not going to help your business if this person is not confident enough to make decisions while you are on holiday.

"Other functions of a PA would be incoming call answering, file maintenance and scanning, day to day banking, customer service, customer contact management and marketing and day to day administration duties," she says.

For Tracey Howard, PA to Garry Ross of Newcastle's Money Trends, documenting a client's file from start to finish is integral to her role.

A typical working day sees Howard check all the emails and correspondence, and as one half of a job share arrangement, regularly updates the diary system so all parties are singing from the same hymn sheet.

"It's very important to have the diary up to date. If there are any new files that need inputting, I do that so it's ready if Julie needs to follow anything up. Following the files from start to finish is very important," she says.

Money talks

Remunerating someone in this position can be tricky, making the need to document and formalise every aspect of the role all the more pertinent.

PAs working for some of the country's top executives are sitting pretty, with some on triple figure salaries.

Realistically, says Beggs, the average small business owner simply isn't able to offer as such, but if they're looking to recruit quality and loyalty, they should be looking to outlay somewhere in the $60,000 - $70,000 bracket.

Many also negotiate additional benefits into their package, such as bonuses, study support or extra annual leave.

"They wouldn't get someone below $55k if they're a true PA. It's very hard to get someone with mortgage industry knowledge. They are some who are very specialized in the banking and finance market but they know that within the area, that's where the money is," she says.

Skilbeck argues a broker should look to the anticipated growth of the business in determining salary, believing the broker should firstly be getting regular income before committing to taking on a PA.

"It's not until your trail builds up and you now roughly how much will be coming in - the trail will pay for the PA basically. You can't be hiring someone and then finding out you don't have enough money to pay them," she says.

After attending a PLAN conference and meeting fellow brokers whose businesses had thrived post hiring of a PA, Skilbeck believes the risk is offset by the underlying financial rewards.

"All the successful people at this conference have a PA. The income more than doubles when you get a PA. You might be paying them $50,000 or $60,000 a year but the income for the business could go from $100,000 to $300,000," she says.

She's also prepared to offer incentives after a three month probationary period, such as profiting a set amount for every deal that settles, or offering equity or profit share in extracting greater commitment.

Issues concerning supply and demand further compound the recruitment process, with few experienced PA's willing to work exclusively in the mortgage space.

Montgomery says the shift in role responsibilities has steadily grown with the emergence of a significant number of experienced PA's now in the workforce.

"Gone are the days where secretaries simply types letters and took shorthand. Now know as PAs they have emerged as a professional body and the position now engenders career progression rather than a life spent in the typing pool," she says.

Beggs concurs. "We could do with more," she says.