Having recruited in the City for over a decade, and with an interest in dabbling with stocks and shares, it struck me during the last ‘near crash’ just how similar these markets are, as well as how traders and recruiters share a lot of the same traits.
I guess it is no huge surprise that when the economy is growing, stock markets generally rise, companies increase their headcounts and, vice versa.
I’d like to think about the participants. In recruitment, external and uncontrollable influences like counter offers, compliance check fails and sudden hiring freezes, can ruin the best laid plans. In the trading world, the plans are usually being ruined by profit warnings, unexpected broker downgrades and an unseen shorter attack! However, some recruitment processes fall into place beautifully and, very occasionally, I pick a stock that rockets too.
Any seasoned recruiter will tell you that recruitment is an emotional roller coaster. Any given hour/day/week is punctuated with highs and lows. Learning to be resilient and taking the emotion out of your decision making will enable you to, hopefully, make the right calls. It will also enable you to take profits at the right time and not throw good money after bad – two skills I have yet to follow my own advice on!
For me though, being involved is the fun bit. The buzz of picking up the job order is right up there with picking the right price to strike on a stock. The rush of having your candidate make it through the process and get hired against the competition is the same as being ‘in’, and your stock trading at more than you bought it for.
Whether you’re a budding trader or a recruiter, my advice to you is - always do your homework (you make your own luck you know), stay positive and never give up! Remember, you can only control what is in your control. However, you can take responsibility for all outcomes. So, if your recruitment process or trade didn’t go as planned, get up, brush yourself off and learn how to avoid getting into the same situation again.
One more piece of advice, which is more of a golden rule actually - work hard - when things go wrong, work twice as hard and when they go well, work three times as hard. Momentum is everything.
If you’d like to get in touch with Ben, please contact him on firstname.lastname@example.org.