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Management Tips for Brokers – 5 Recruitment Challenges of 2021

THE 5 MOST COMMON RECRUITMENT CHALLENGES FOR MORTGAGE BROKERS.

In the words of Marc Benioff, Founder, Chairman and CEO of Salesforce;

Acquiring the right talent is the most important key to growth. Hiring was – and still is – the most important thing that we do.”

The same can be said for every one of our mortgage broking clients who face these recruitment challenges right now:

  • An increasingly shrinking talent pool.

One of my clients cited only last month that a SEEK advertisement they placed last month attracted less than 10 job applications of which only 2 candidates met the minimum criteria. Compare that with the same time last year when they received over 100 job applications for the exact same position.

  • Hiring without figuring out why the last person left.

If you are continually churning staff, then the problem is likely not them, it’s YOU (sorry)!!

  • Hiring without a Plan.

Beyond recruitment, what is your onboarding and induction training plan?

How does the first 90 days look for your new employee?

You would be CRAZY NOT to hire anyone without a period of probation and 6 months is typical. Do you have an Induction Plan and Checklist?

What about their ongoing performance review and management? And their longer-term Career Goals and their professional development and training plans?

BUILDING OUT OUR TEAM ‘AT A GLANCE’
  • Hiring for the Short Term.

You SHOULD know where your business is headed for the next 3-5 years. If you do, then you should also know how your human resources will need to grow and adapt to achieve those business goals. So be sure to recruit accordingly.

  • Hiring based on Interview alone.

A simple google search of the candidate (especially Linked In) is a quick and easy way to cross-reference past work history to what they have listed on their Resume.

But more importantly are your Reference Checks. So, make sure you have a sound Reference Check Framework prepared well in advance.  

If you would like a FREE copy of our 8-Step BUILDING OUT YOUR TEAM ‘AT A GLANCE’ FRAMEWORK, shoot us an email: therese@therese.co and we’d be happy to oblige.

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