In the inaugural episode of the Winning in Professional Services podcast, Matteo Trovato and Scott Pressimone discuss the often-overlooked dangers of hiring employees at below-market rates. They cover three primary pitfalls: not hiring soon enough, compensating below market rate, and creating hybrid roles. Sharing their own experiences and observations, they provide practical advice on setting a realistic budget, prioritizing hires, and avoiding common hiring mistakes. They also touch upon the importance of transparent job descriptions and considering performance-based compensation structures to attract top talent.
Connect with Scott and Matteo on LinkedIn:
Scott Pressimone: https://www.linkedin.com/in/scottalanpress/
Matteo Trovato: https://www.linkedin.com/in/matteotrovato/
Winning In Professional Services: https://wipspod.com/
Growth Connect: https://growthconnect.io/
RevPath: https://www.revpathplus.com/
⏱️ Timestamps:
0:00 - Introduction
1:00 - Different ways of "hiring cheap"
5:54 - Pitfalls of creating hybrid roles to save costs
10:50 - Setting realistic budgets
13:59 - Identifying the exact problem to be solved when hiring
24:29 - Consider hiring a leader first who can build a team
30:35 - Setting realistic expectations for new hires
39:23 - Hire slowly, fire quickly
42:51 - Tips for optimizing job descriptions to attract the right candidates
51:50 - Adapting compensation plans to attract high-talent individuals
