Recruiting new talent, or the ability to recruit new talent, is the lifeblood of many firms. With quality talent always in high demand, especially now with large volumes and still-decent margins in the summer of 2021, mortgage companies find themselves fighting one another to attract top talent. Whether or not your staff can provide great customer service and embrace the technology your borrowers use is going to determine much of your success across market cycles.
It really does “take a village” to determine the right employees for your company. Successful talent recruiting translates to hiring great employees who help your company and your team achieve their growth objectives. Attributes that make someone thrive in a certain role aren’t always immediately evident on their CV, and interviews or references when hiring may only paint part of the picture.
It seems that no matter how impartial managers try to be, biases always creep into hiring decisions. The best solution to subjective bias is to increase the role of objective science in your decision-making. using data to focus on better predictors of on-the-job success like cognitive ability. For those reasons, it is important to have solid processes and procedures in place when it comes to hiring.
Every Change A Chance
Growing a solid team involves relationship building, time management, professional development, and retention strategies to ensure you keep the competition away. Mortgage loan officers (MLOs) are constantly hit up by recruiters asking, “Just checking in… how are things going?” Common reasons for mortgage professionals to make moves include changes in ownership or leadership, a failure to provide support from their current company, and a chance for advancement or opportunity to take their career to the next level. Your recruiting plan should outline your goals, strategies and techniques required to attract and hire professionals. As a lender, where are you going? Who do you want on board?