This is certainly a transition year for the industry. Production is down and operation staffs are being pared in “right-sizing” exercises. A year ago, we were competing like crazy for operational staff and bidding up their salaries. But for those who have been in this industry for a long time, this cycle is nothing new. What is amazing to me is how little time we spend preparing for these times, especially when there are tools available enable us to become more efficient. Thus, this month I decided to pull one such tool out of the leadership course from my OriginationPro Mortgage School. That tool is cross training.
We know it is good for us, but … many managers cringe when they hear the words cross training. We all know that it is good for our staff and to meet company objectives such as cost considerations. We all know that we should have a good cross training plan in effect. Yet, most companies do not. It is like exercise: we know that it is good for us, but we don’t do enough.
Cross training increases personnel efficiencies. When someone goes on vacation (or leaves) someone else can step in and accomplish the job. If a vacation means that someone will be returning to a pile of work—this puts your staff in a perpetual stressful situation.