What's Your Company's Spread?

Over a decade ago, a few business partners and I embarked on a wonderful journey called SeeWhy Financial Learning. Up to that point in my career, I’d had the privilege of working for companies of various sizes, from a small mom-and-pop shop to a huge corporation.

During that time, I’d gained experience managing both small and large teams, but growing a business from scratch was completely foreign to me and my business partners. We reasoned that what we lacked in experience we would make up for in effort. We also had the good sense to seek counsel along the way. Over the years we’ve built a network of fellow business owners and consultants, to whom we are forever grateful.

When you start a new business and hire your first employee, trust is one of the essential factors. In a small company, it’s not easy to establish information barriers or keep trade secrets private; your sales director may also be your accountant and human resources specialist!

A few years into the business I was having coffee with a consultant. The business had grown, we had hired more employees, and it was time to start thinking about succession planning. To be honest, it kept me up at night. He asked me, “What’s your spread?” referring to the age gap between our youngest and oldest employee. I replied, “We hire based on talent, so I’m not really sure, but I would estimate five years.” Many of my colleagues were previous friends and tended to fall within a certain age bracket. That would be problematic for the business come retirement age. Going forward, when hiring a new employee, we made a conscious effort to cast a wider net. Today I am proud to say our spread is almost forty years, and I have never been so confident about the company’s future and longevity.

I recently saw a disparaging video post on social media poking fun of a millennial’s performance in a job interview. I chuckled to myself and thought, “I hope our competitors see and believe what they saw”; but it also bothered me. Eventually it prompted me to write this article. Fortunately, our experience has been completely different from that in the video. In fact, I’d say, “If you haven’t hired a millennial lately, you’re missing out!"

Their education is about as current as you can get, and they are thankful for a good opportunity. Despite what some experts may say, millennials can be motivated by money (as well as other things), and most important, they think differently. That’s not a bad thing! They have breathed new energy into SeeWhy and have implemented innovative ways to learn. My ears perk up when I hear one of them say, “I have an idea.”

Finally, I should point out that while this article praises millennials, there is a reason it isn’t titled “Hire Young.” Our oldest employee is receiving Old Age Security. He loves what he does, and we still think he’s the best in the business. At SeeWhy we hire and retain employees based on talent (not age), but we still think it’s a good idea to always ask, “what’s our spread?”

Andre Samuels

Director of Training, SeeWhy Financial Learning