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Time, And Time Again

Recruiters say time is their worst enemy. Here’s how to change that.

Time management
Contributing Writer

Where are you going to find the time to recruit? Do you have a full-time job without recruiting?  Do you already work plenty of hours each week?  Where is the extra time going to come from?  

From the week(s) you lose when you have an opening and have no idea where to look.  That is the worst vantage point to be recruiting from.  We will call that the desperation approach. 

From the time you spend working with, trying to fix and finally replacing the wrong people hired, because you did not have time to recruit according to a plan. Nothing is more expensive than hiring the wrong people and dealing with the consequences. Think about the last time you hired the wrong person and the time you wasted. 

From the time you will save creating synergies as you implement the plan. You will not implement a plan merely because it represents good business sense. The day after you make the commitment, the fires will start and the plan goes on the shelf. The only way that you will follow through with implementation is if you receive short-term benefits that help you with other aspects of the job.

An example of such a short-term benefit? How about increased production? This is exactly why we suggest that you focus upon referrals from other loan officers as a valid reason to make the appointment. This is more likely to entice the candidate and produce secondary benefits. 

Mesh Your Goals

The real key to finding the time is creating real synergy with your other objectives. 

Set up reciprocal relationships. This will put you in position in the long run. The more loans they send to you, the stronger the relationship will become and the more likely they will realize the benefit of making a change. Obviously, this is a long-term approach, but recruiting the right people is a long-term proposition. You are less likely to hire the wrong person if you know them well over a longer period of time. 

It will help to have a definable niche as part of your production marketing plan. Limiting your focus puts you less in competition with other originators and facilitates the referral process. The rules of synergy marketing require that you focus deeply, instead of more widely.  

How might networking among your competition help you increase your knowledge about the industry and your competition? How can that knowledge help your loan officers perform their job? The deeper your conversations, the more likely you will garner information which will help you and your direct reports in the future. 

How might implementing the plan help improve your management skills? Learn what other managers are doing to become successful as you build an informal benchmarking process. Again, this requires going deeper and asking questions. Asking open-ended questions is a key within the sales process. It is no different within the recruiting process. 

This article was originally published in the NMP Magazine June 2021 issue.
About the author
Contributing Writer
Dave Hershman is an author for the mortgage industry with eight books and several hundred articles to his credit. He is also senior vice president of sales for Weichert Financial Services, head of OriginationPro Mortgage School…
Published on
Jun 19, 2021
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