Create a plan
There must be a better way to attract
and retain talented mortgage originators. Part of finding that path involves
thinking outside the box at times.
Sometimes you need to zag when
everyone else zigs. The goal should
be to develop a program that ensures
When you achieve that goal, success
is the natural outcome. This creative
mindset should be applied to creating
programs that incentivize originators
who aren’t normally satisfied with simply plugging into the daily grind of the
Create a plan to ensure that your
originators’ hard work and enduring
commitment to get better and grow
the business is properly acknowledged.
Why? Because true success comes from
not only providing employees what
they need today, but also in helping
them to plan and secure a better future
for themselves and their families.
So, when it comes to recruiting and
retention, does your compensation
model feel the same as those offered by
other regional mortgage companies,
might be time to think about the pro-
cess more organically. An exercise that
can be helpful is to think of the perfect
company — one in which mortgage
originators are happy and want to stay.
That involves more than compensation.
You also are selling a culture.
With the right formula in place for
recruiting and retaining productive
mortgage originators, the company
will make more money and its market
share will grow, fueled by the goodwill
that is generated in workplaces where
employees feel valued and recognized.
It’s important to put incentives in
place to show that the company’s
employees are the No. 1 priority, and
not just numbers in a system. In order
to operate at maximum productivity,
employees must not only feel valued
today, but also have the peace of mind
to know that their company is commit-
ted to them and their careers over the
long term — and is willing to reward
them over time for their performance.
Think about setting up programs
to reward originators who meet minimum production standards for annual
loan production, for example, or perhaps establish a program that is based
on loan quality. Loyalty works both
ways, and the results of such reward
incentives will be readily apparent in
the ongoing commitment demonstrated by originators who feel valued
<< Recruiting continued from Page 74
and supported. This paradigm shift
will promote the retention of top talent by changing the way your originators look at their careers.
n n n
Whatever recruiting and retention program you set up to attract top originators, the most important factor is that
the benefits promised must be delivered, so they are not seen as a carrot
dangling in the air, just out of reach.
Everyone must win. n
“It’s important to put incentives in place
to show that the company’s employees
are the No. 1 priority, and not just
numbers in a system.”