Ten minutes that can pay big dividends

Date: 2008-12-18

Tags: Client communication

Monday's post outlined the case for making conversations with clients a priority this week. The post described the anxiety that some clients will be experiencing as they think about their investments over the holidays and suggested a strategy to preempt some of that concern with a call this week.

Clients aren't the only ones who might be worrying over the holidays, however. The assistants and associates who work with advisors may be just as concerned, wondering about their futures and what's in store for 2009. And just as a short chat can reduce some of the anxiety for clients, so a brief conversation with your assistant before the holiday break can pay big dividends in decreasing their stress over the holidays, increasing their level of commitment and helping them return in the New Year with increased motivation.In many respects, what you say to your assistant might be quite similar to the conversation with clients. Just as with clients, you want to achieve two things - first to let them know that you appreciate their support and second that you have a plan for 2009.

Perhaps you've already had this conversation with your assistant. If not, here's what you might say at some point in the next couple of days:

"First, I want to let you know how much I appreciate your help and your support and extra effort over this past year. 2008 has been a brutally difficult year, the toughest that anyone I've talked to can recall. I know that there were times since September that clients were stressed when they called in and also times that I was short with you after a tough meeting or phone call. I really appreciate your patience over the past few months.

Second, I've been giving some hard thought to 2009. From everything I've heard and read, there are going to be some terrific opportunities next year to consolidate relationships with existing clients and also to pick up new clients. I'm going to be giving that some thought over the holidays - when we come back in January, I want to sit down and talk about my plans to capitalize on those opportunities and make 2009 a great year.

In the meantime, thank you again for all your help in getting us through 2008."

You may want to supplement that conversation with a bottle of wine. Whether or not there's a gift attached, what's important is that you ensure your assistant knows that you truly value their help this past year and that they'll have a chance to participate in your plans to get your business gets back on track in 2009. Ten minutes to make that point can be one of the best uses of your time today.