Episode 28
Let's Get There Together
Derek Schlender, National SBA Executive Recruiter with ThinkingAhead Executive Search, joins the program to share the MPC approach to driving business, the fastest way to find your niche in the market, the MOST important question when marketing talent, and how to avoid throwing spaghetti on the wall.
Transcript
Welcome to The Talent Trade. I am Stephanie
Stephanie Maas:Maas, your host, partner at ThinkingAhead Executive Search,
Stephanie Maas:and today, I am super excited; incredible guest speaker with
Stephanie Maas:us. What makes him incredible is not just what he has done in the
Stephanie Maas:executive search world, but it's also who he is outside of the
Stephanie Maas:office. In fact, he became our team mascot, Team Labradoodle.
Stephanie Maas:And then when you think of a Labradoodle, certain things come
Stephanie Maas:to mind. Nobody doesn't like a Labradoodle. Everybody loves a
Stephanie Maas:Labradoodle. Nobody has issues. Even if they have dog allergies
Stephanie Maas:or sensitivities, they are still a Okay, meaning, if you've got
Stephanie Maas:personal problems or issues, you're still okay with the
Stephanie Maas:Labradoodle. Everybody loves Derek. Nobody has issues with
Stephanie Maas:him. Consistently producing can be counted on, and has really
Stephanie Maas:elevated our team since he joined us. So Derek Schlender,
Stephanie Maas:take us from here. Thanks so much, Derek for being with us.
Derek Schlender:Wow, thank you. Stephanie. Team mascot wasn't
Derek Schlender:something I expected, but you know, sometimes you just get
Derek Schlender:these little delights in life that you just gotta roll with it
Derek Schlender:and embrace it. So it's an honor to be here. Thanks for having
Derek Schlender:me. And I think the last six years, they've been probably the
Derek Schlender:highlight, just from a professional standpoint for me,
Derek Schlender:not just the work that we do, but the people that I get to do
Derek Schlender:it with. But yeah, I focus on SBA recruiting for our banking
Derek Schlender:team. Run that niche nationally. Personally, my family, we reside
Derek Schlender:in Athens, Georgia. Go Dogs. Family of five. We have a nine
Derek Schlender:year old, seven year old and a two year old. So my my world is
Derek Schlender:beautiful chaos right now.
Stephanie Maas:I love it. So today, what I have asked Derek
Stephanie Maas:to come and talk and speak to is something that, in his niche and
Stephanie Maas:in his world, he has not just revolutionized, but truly
Stephanie Maas:elevated in a way that nobody prior to him has ever done, and
Stephanie Maas:that is the MPC approach to driving business. He came in and
Stephanie Maas:started figuring out that there was this niche that he just
Stephanie Maas:found his way to and really took it and ran with it, and a big
Stephanie Maas:part, a tremendous part, of his tremendous success, it's the MPC
Stephanie Maas:that he's really perfected. So I want to start there and have
Stephanie Maas:Derek really walk us through what made you pursue this MPC
Stephanie Maas:approach to your market. How do you consistently build it such a
Stephanie Maas:high level with an MPC approach? And again, it's not all that you
Stephanie Maas:do, but I know it's the majority, so just kind of give
Stephanie Maas:us some history and then get us into the details, man.
Derek Schlender:Absolutely. So as I got started in search, a
Derek Schlender:big conversation between my mentor and myself and just our
Derek Schlender:team in general, was talking about, hey, what's going on in
Derek Schlender:the market in terms of what drives it? Is it client driven?
Derek Schlender:Is it candidate driven? Do we see that swing from year to
Derek Schlender:year? The thing that really came to light with SBA as a niche is
Derek Schlender:that it was incredibly candidate driven. And I guess the best way
Derek Schlender:to think about that from a macro perspective is just simple
Derek Schlender:supply and demand. My niche in SBA lending tends this way,
Derek Schlender:largely because there's been a high number of baby boomer
Derek Schlender:generation bankers who have been retiring. There's just not been
Derek Schlender:as many Gen X millennial you know, there's just not enough
Derek Schlender:people getting into banking to outnumber those that have been
Derek Schlender:retiring. And so over the last 10 to 15 years, that's resulted
Derek Schlender:in this growing bubble of demand where there's just a lot more
Derek Schlender:need than there is talent. And so that's resulted in something
Derek Schlender:for me that's just sustainably been candidate driven. I haven't
Derek Schlender:really had a lot of client driven moments in my time so
Derek Schlender:far. You know, there's definitely been clients who have
Derek Schlender:said, Hey, Derek, you're the recruiter we want to work with
Derek Schlender:exclusively. You know, there's just some roles that have to go
Derek Schlender:to search, but the lion's share of what my market needs is the
Derek Schlender:talent, and it's on a constant basis. And so kind of this
Derek Schlender:supply and demand idea. You know, with demand so high and
Derek Schlender:supply so low if you can go bring to your clients what
Derek Schlender:they're needing, that's kind of what I would define as candidate
Derek Schlender:driven.
Stephanie Maas:Super helpful. So we figured this out, that
Stephanie Maas:it's candidate driven. Now what?
Derek Schlender:Yeah, so it's candidate driven. I think what
Derek Schlender:appealed to me a lot coming to thinking ahead, was that we are
Derek Schlender:not generalist recruiters, and so you've got a lot of banking
Derek Schlender:recruiters in the marketplace, a lot of finance recruiters, but
Derek Schlender:very few of them are truly market masters. Is what I would
Derek Schlender:say. We kind of call it as a niche expert. And so when I was
Derek Schlender:starting off, and frankly, anyone who's gotten their start
Derek Schlender:in search, you don't know. What your niche is, until you really
Derek Schlender:cut your teeth and you get a sense of, where can I win, where
Derek Schlender:can I go, add value. And so I just started to pull, what we
Derek Schlender:call pull the thread in the market. Like you see a thread,
Derek Schlender:you start to pull it, and what, what comes of that is you start
Derek Schlender:to get traction. And so where I was getting traction was SBA
Derek Schlender:lending. What's unique is we were heading into the pandemic
Derek Schlender:as I was gaining traction. And so what happened is everyone
Derek Schlender:stopped coming into the office. The Marketplace, basically
Derek Schlender:overnight, was completely remote. And so while SBA lending
Derek Schlender:is a national product, a national program, I was thrust
Derek Schlender:into a market that was even more national by nature of everyone
Derek Schlender:being remote, it didn't matter where you lived, as long as a
Derek Schlender:company got hired in your state. And so that just became more and
Derek Schlender:more of a focus, almost as a product of just circumstances
Derek Schlender:around the pandemic. That's kind of where it all started for me.
Stephanie Maas:So when you're in this candidate driven world,
Stephanie Maas:and MPC is your primary focus, what are some of the criteria
Stephanie Maas:that, from your perspective, make a candidate extremely
Stephanie Maas:marketable?
Derek Schlender:That's a great question, and I think that's the
Derek Schlender:most important question, because when it comes to marketing
Derek Schlender:talent, why are they marketable? Why are why is there value?
Derek Schlender:That's an important question. So for me, you know, you've got
Derek Schlender:kind of multiple candidate types that you are looking for in the
Derek Schlender:world of finance. You've got people who are, what, you know,
Derek Schlender:straight up and down, revenue contributors that are directly
Derek Schlender:tied to the bottom line profitability. You've got people
Derek Schlender:who are in the background, back office, people, credit
Derek Schlender:operations. So for me, it's different, depending on what
Derek Schlender:type of candidate it may be. But to put it simply, if someone's a
Derek Schlender:revenue contributor, have they produced is number one, have
Derek Schlender:they produced at a level that is recognized by the marketplace as
Derek Schlender:impressive, as meaningful, but even more complex than that,
Derek Schlender:have they produced within the deal box or the buy box of the
Derek Schlender:clients that I represent, if they have, I've got somebody who
Derek Schlender:can add value for my clients, for the marketplace that I
Derek Schlender:serve, if they haven't, there's a disconnect there. And so it's
Derek Schlender:my job as the market master to say, hey, tell me about
Derek Schlender:production. Tell me about where you've won. Let me make sure
Derek Schlender:that I'm connecting the dots in a way that's going to be
Derek Schlender:meaningful and recognized for the value that you bring. And so
Derek Schlender:I've got to uncover that with a candidate and understand that
Derek Schlender:and a deep level. If I'm a generalist who doesn't really
Derek Schlender:deeply know one niche over another, that's a lot harder. So
Derek Schlender:if you're somebody who does accounting, recruiting,
Derek Schlender:commercial, CNI, recruiting, mortgage, recruiting, all of
Derek Schlender:these things, that's great if you don't have enough depth to
Derek Schlender:talk shop with somebody and understand what kinds of deals
Derek Schlender:they actually do and where you could take them, or that would
Derek Schlender:add value. That'll be harder with credit and operations. I
Derek Schlender:think a lot of it comes down to efficiency and proficiency. Are
Derek Schlender:they efficient at what they do in credit decisioning from a
Derek Schlender:timeline perspective, but also, do they have a complexity of
Derek Schlender:understanding of different deal types, where they can actually
Derek Schlender:get in and truly decision deals based on the experience that
Derek Schlender:they have? For me, a lot of times, somebody who is a MPC as
Derek Schlender:a credit candidate, they need to be a little bit more
Derek Schlender:experienced, because if they're not, it's a lot harder to
Derek Schlender:showcase that talent and to say, hey, based on their experience,
Derek Schlender:they're going to add XYZ and value. And then the same is, you
Derek Schlender:know, generally true of people in operations and other
Derek Schlender:capacities. It's it's a lot of just, they've had experience in
Derek Schlender:key areas that I know bring value to my clients. And then,
Derek Schlender:on top of all that, I would just say that their resume really
Derek Schlender:matters. A resume for a star candidate has to look like
Derek Schlender:someone who hasn't moved around a lot. You know, there's
Derek Schlender:occasions where a quick stint somewhere can be explained, and
Derek Schlender:that's okay. But again, I need to understand their story in a
Derek Schlender:way that can be conveyed in a way that's understood and
Derek Schlender:accepted. And then the last thing is just compensation.
Derek Schlender:Because as much as we're talking about representing candidates,
Derek Schlender:our primary responsibility is still our clients, which is
Derek Schlender:sometimes hard to think about. When you're thinking about, hey,
Derek Schlender:I'm representing talent and trying to go place them in the
Derek Schlender:market, you still have to ethically understand, hey, my
Derek Schlender:primary job is to solve a need for my client, and a lot of that
Derek Schlender:comes down to simple math. Does this candidate? Are they someone
Derek Schlender:who's affordable? Are they someone who's commanding a
Derek Schlender:salary that the market will support again, if I'm not
Derek Schlender:niched? I don't know my. Market. I may not be able to answer that
Derek Schlender:question, and I may not actually able to add value to my client,
Derek Schlender:because if I bring them someone they can't afford, that's great
Derek Schlender:that this candidates a rock star, they can produce, they add
Derek Schlender:all this efficiency value, but if they aren't in the budget for
Derek Schlender:what the client can pay, I'm wasting a lot of people's time.
Stephanie Maas:So let me ask you this; when you're
Stephanie Maas:approaching a candidate and you're not specifically calling
Stephanie Maas:on behalf of a search, which is what a lot of us do. How do you
Stephanie Maas:get the candidate engaged? How do you even set up this MPC
Stephanie Maas:relationship?
Derek Schlender:Yeah, that's a great question. I think again,
Derek Schlender:I'm going to probably beat this horse the whole time, but being
Derek Schlender:very specialized is the key, because if you get a phone call
Derek Schlender:from someone who is specialized to represent the niche you
Derek Schlender:literally operate in as a candidate, as a professional,
Derek Schlender:and someone calls you, it's a different conversation when you
Derek Schlender:can convey to them, Hey, the only space I recruit in is your
Derek Schlender:world. And so what I'm going to do first and foremost is I'm
Derek Schlender:going to pursue understanding you as a professional before we
Derek Schlender:I mean, whether or not I have an opportunity that I'm recruiting
Derek Schlender:for or not that for me is the right approach, even if I'm
Derek Schlender:taking a search to market, because it's going to take me
Derek Schlender:some time to truly understand if you're the right fit for this
Derek Schlender:Search. So even if there's a search, Hey, I am specialized.
Derek Schlender:I'm niche, specific. Let me understand your situation, and
Derek Schlender:as we develop that relationship with the candidate, the beauty
Derek Schlender:is the value we bring to our clients. It's not going after
Derek Schlender:people who are thanking God that you called them on that Tuesday
Derek Schlender:afternoon. It's the people who didn't really have time to talk
Derek Schlender:to you, but they start to catch, oh, there's value in talking to
Derek Schlender:this recruiter, because they are actually in my space, even if
Derek Schlender:it's a quick conversation, I want to keep in touch with them.
Derek Schlender:So it's very relationally driven. Again, it's a value
Derek Schlender:proposition to the candidate that, hey, whether or not I go
Derek Schlender:take you to one of my clients right now, we need to know each
Derek Schlender:other, even for long term relationship. And so that's the
Derek Schlender:approach that I take. And then from there, again, being
Derek Schlender:specialized, you can pick up on things that are causing pain
Derek Schlender:when you hear how things are actually going well. Derek, it's
Derek Schlender:been a good year. I've produced X amount in volume. The only
Derek Schlender:frustration is it's caught. It's taking 60 days decision to deal.
Derek Schlender:Hang on, that's a huge red flag. But I only know that if I truly
Derek Schlender:know the time frame it ought to take for a lender to decision
Derek Schlender:transactions so things like that. As you're talking to
Derek Schlender:someone and they're engaging with you, you can say, Hey, can
Derek Schlender:I provide some feedback based on my expertise in the market? I
Derek Schlender:think you're in a place that's kind of preventing you from
Derek Schlender:being the best you could be. You mind if I give you some
Derek Schlender:feedback? And so it's developing a relationship of trust based on
Derek Schlender:expertise.
Stephanie Maas:So that gets the candidates engaged. What about
Stephanie Maas:the client side? If everybody's hiring, if everybody needs these
Stephanie Maas:people, how do you determine your target list?
Derek Schlender:That's a great question. So a lot of it, for
Derek Schlender:me, is just paying attention in a number of ways. It's
Derek Schlender:absolutely paying attention to who's producing at different
Derek Schlender:levels, who are the top places that are competitively looking
Derek Schlender:to be in the top 10 in the country, top 20 in the country,
Derek Schlender:and having a relationship developed with those hiring
Derek Schlender:managers to understand, how are you going about that? What kind
Derek Schlender:of talent is it going to take for you to achieve your goals?
Derek Schlender:Do you have the support in your back office to support the
Derek Schlender:production you're looking to have? But it's also
Derek Schlender:understanding what are the kind of new to market, new to the
Derek Schlender:stage, players who may not have as much volume publicly traced
Derek Schlender:where it's like, Hey, you're actually going to be a player in
Derek Schlender:the next two to three years. But knowing the people in your
Derek Schlender:niche, it's achieved through a number of things. It's what I
Derek Schlender:just talked about in terms of the rankings. It's attending
Derek Schlender:conferences and actually getting in front of your market and
Derek Schlender:getting to know the people in your space. But it's, again,
Derek Schlender:it's very relational, and it's asking, Hey, what do you need
Derek Schlender:right now? But where are you headed? What are you going to
Derek Schlender:need? And the next year, if I came across a top qualified
Derek Schlender:candidate in the market is that someone you would want to have a
Derek Schlender:confidential conversation about, every hiring manager you talk to
Derek Schlender:is going to say yes, but again, it comes back down to can you
Derek Schlender:actually produce that and value to them? And so if you can come
Derek Schlender:back to the table and say, Hey, I really urge you, when you and
Derek Schlender:I talked about the talent that it's going to take for you to
Derek Schlender:get where you're headed, and give them some feedback that you
Derek Schlender:actually have the talent that they're looking for 10 times out
Derek Schlender:of 10. Those those clients want to have a conversation with you
Derek Schlender:about that. The challenge for most of my clients is not paying
Derek Schlender:a fee to a recruiter or even going the search route. It's
Derek Schlender:working with recruiters who don't bring them candidates who
Derek Schlender:are well vetted, who actually you. Solve a need, or actually,
Derek Schlender:like thrust them toward your goal. So it's connecting those
Derek Schlender:two dots. But again, I think it's a lot of relational
Derek Schlender:business development conversations that are not just
Derek Schlender:centered around, what search do you have for me today? But let's
Derek Schlender:have a business conversation around where are you trying to
Derek Schlender:get to? What type of people are going to help you get there?
Stephanie Maas:Dang. Just listening to you talk, it is so
Stephanie Maas:evident how you are so good at what you do. Okay, so my last
Stephanie Maas:question is, you've got this expertise. You approach
Stephanie Maas:candidates in a very relational way, you approach clients in a
Stephanie Maas:very relational way, all under the umbrella of this MPC model,
Stephanie Maas:which a lot of folks feel often, can be transactional, but you
Stephanie Maas:just walked us through how it's not. What kind of feedback have
Stephanie Maas:you gotten from folks that you've worked with about this process?
Derek Schlender:It's honestly been extremely positive. And one
Derek Schlender:of the things I love most about the world we live in is we have
Derek Schlender:something called LinkedIn.
Stephanie Maas:Is it on the World Wide Web?
Derek Schlender:It is. It is actually the website. But every
Derek Schlender:placement I make, it's part of my process. I ask first for the
Derek Schlender:candidates I place to leave me a review, and thankfully, almost
Derek Schlender:everyone is so willing to do that, and the feedback I've
Derek Schlender:consistently had is they just love the ethical experience that
Derek Schlender:they have. And that's interesting to me, that that
Derek Schlender:comes to light so frequently, because you would think that
Derek Schlender:ethics or something that every recruiter considered to be a
Derek Schlender:high priority, but it's just not. And I think what it comes
Derek Schlender:down to is a lot of recruiters don't really know what else to
Derek Schlender:do with a resume, than to go run to their clients and try to put
Derek Schlender:it in front of them. And so for me, it's a lot different than
Derek Schlender:that. So much of what I do is it's not spaghetti on the wall,
Derek Schlender:it's not resume spamming. It's very much a partnership with
Derek Schlender:candidates in the market around hey, let's work together in
Derek Schlender:developing a wish list of organizations that you want to
Derek Schlender:go to. I'm going to come to the table with recommendations. I
Derek Schlender:expect you to come to the table with dreams and desires. We're
Derek Schlender:going to put that together and come come up with a list of
Derek Schlender:target organizations. The result is, you're going to get in front
Derek Schlender:of the organizations you want to get in front of. And a lot of
Derek Schlender:times, it's people who they have all of the qualifications, all
Derek Schlender:of the resume to get them the job, but they don't have the
Derek Schlender:connections. It's the timing, it's the coaching, it's the
Derek Schlender:representation at the offer stage. It's giving voice to this
Derek Schlender:is what the market's supporting. You need to be paid X amount to
Derek Schlender:right size, you get you paid what you're worth, or it's Hey,
Derek Schlender:you're paid very competitively. Let's go get you an opportunity
Derek Schlender:that lets you maximize your incentive compensation to make
Derek Schlender:you a lot more money all in it's that expertise, and without
Derek Schlender:that, it's open season. They're on their own. They don't have
Derek Schlender:representation, and so many people I work with have had that
Derek Schlender:experience. They would much rather have a advocate working
Derek Schlender:with them, but somebody who's really a guide, a trusted
Derek Schlender:advisor, someone who's not just going out there and saying, Hey,
Derek Schlender:let me go. I'll keep you posted on what I get for you in terms
Derek Schlender:of an opportunity to interview. But no, let's go. Target an
Derek Schlender:organization we agree on. You're in charge. I'm going to guide
Derek Schlender:you there, and let's get there together. So the feedback I've
Derek Schlender:gotten is that that's really value for a candidate. They
Derek Schlender:appreciate that. They don't get that from everyone. And so I
Derek Schlender:feel really good about the work that I do based on that feedback.
Stephanie Maas:And I bet, too, from the client's perspective,
Stephanie Maas:you showing up with an MPC, is not you just showing up with a
Stephanie Maas:resume saying, Hey, you do the work, you do the vetting, and
Stephanie Maas:I'm just sending you this resume, and I hope you send me
Stephanie Maas:25% if you hire them. I gotta imagine the feedback from the
Stephanie Maas:clients is super similar. Hey, we know we're looking for
Stephanie Maas:talent, but you brought us the talent that's spot on for what
Stephanie Maas:we need to achieve our goals. I imagine you get some feedback
Stephanie Maas:that it's a game changer that way too for you.
Derek Schlender:For sure, for sure. And I'd say too that like
Derek Schlender:I think most organizations would like to have the unlimited time,
Derek Schlender:unlimited bandwidth, to take everything, to search and
Derek Schlender:competitively select a slate of candidates and pick the best
Derek Schlender:one. And I mean, that's an ideal world, right? We want that on
Derek Schlender:paper, but in the reality of what we are dealing with is you
Derek Schlender:have a goal to meet by into quarter one. It's the beginning
Derek Schlender:of March. Your top producer just collected his bonus and left for
Derek Schlender:whatever reason. What are you going to do? Can you go to
Derek Schlender:search? Can you go find that slate of candidates? Can you go
Derek Schlender:through that full process? Well, what if someone called you and
Derek Schlender:said, Hey, I've got someone who can produce at a level that's
Derek Schlender:equivalent to what your top producer was producing at who
Derek Schlender:wouldn't want to have that conversation. So again, it's a
Derek Schlender:time saver and a money saver, because the time it takes to
Derek Schlender:take an opportunity to search, you're losing money on that top
Derek Schlender:producers revenue. And so a lot of it is it's a monetarily
Derek Schlender:efficient way to select top talent, but. Again, I think the
Derek Schlender:clients that I work with value the industry expertise so that
Derek Schlender:they know when I bring them a candidate, it's not just
Derek Schlender:someone's resume that I got from a job posting.
Stephanie Maas:Man, that says a tremendous amount. Anything else
Stephanie Maas:that you think right now is critical for our listener to
Stephanie Maas:know or be aware of when it comes to elevating the MPC
Stephanie Maas:approach to the market?
Derek Schlender:Stephanie, you probably said this already, but
Derek Schlender:I think the overarching principle is that good
Derek Schlender:recruiters are good listeners. Great recruiters are phenomenal
Derek Schlender:listeners. And with everything I'm talking about, if you don't
Derek Schlender:go in with a really active listening mindset, you're only
Derek Schlender:going to be able to default to transactional recruiting, but if
Derek Schlender:you can really listen and really learn from every conversation,
Derek Schlender:you become someone who is incredibly valuable to your
Derek Schlender:marketplace and to the candidates you recruit. So
Derek Schlender:that's it. I mean, it's Listen, listen, listen and do something
Derek Schlender:with what you learn.
Stephanie Maas:Love it. Derek, thank you so much for being here
Stephanie Maas:sharing some of your wisdom. I know that there's a lot more to come.