When I consult with leaders in the mortgage industry, I typically am sure to cover at least two topics: people and processes. Any organization that can both create an efficiently running process, as well as attract and develop the best people, is sure to achieve a great amount of success. In my experience, these two factors alone can determine whether an organization succeeds or fails. However, they aren't necessarily mutually exclusive.
The thing is: A solid business process does more than reduce wasted time and increase the speed of business. It also can go a long way in providing a better work environment for employees. If you want to attract the best people to your organization and give them the best opportunities to grow, you simply cannot do that without a good process. Why is that the case?
When I talk to people who work in the mortgage industry, I am sure to ask them what their biggest concern is about the leadership in their organization. Time and again, I hear the same thing: a lack of clarity. All too often, people simply don't know what they're supposed to do or when they're supposed to do it. People crave direction. Without the guidance that a solid process provides, misunderstandings arise. There are breakdowns in communication that cause strife and resentment. Once you've built a solid process, however, those roadblocks are removed.
Boosting employee morale and reducing turnover doesn't have to be about providing huge incentives and dramatic displays like employee coffee shops, yoga classes, or group retreats. Sometimes, it's as simple as taking the things that cause employees stress out of the job. And that you can do simply by cleaning up your process. Have you tried it?
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.