One of the most challenging stages of recruiting Loan Officers, is the closing and on-boarding process.
Negotiating the close of any deal can be the hardest part of the process. This is especially true of recruiting Loan Officers, where the stakes can be high and top talent is in high demand. Open communication is critical to your success at this point in the interview process.
As Executive Recruiter, EMAC understands the candidate’s concerns at the later stages are due to; the lack of information, the possibility of a counter-offer or a competitive offer from another company.
The EMAC Group understands! Hiring Managers have already invested their time, energy and resources to; source, screen, qualify and interview potential candidates.
Hiring Managers occasionally require the assistance to close a candidate, before loosing the prospect to another opportunity or worse yet a counter offer and then faced with the reality they have to start the entire arduous process from the beginning (sourcing, screening, qualifying and interviewing an entire new group of potential candidates) until a successful hire is made.
Your ability to close a top performer puts all of your recruiting skills in check. The relationship you have built with each candidate prior to the close is the key to a successful outcome.
The first time you contact a potential candidate be prompt, courteous, follow-up and pay close attention to their motivations (hot buttons) to consider a career change, building trust and developing rapport is crucial in the first step.
The primary reasons highly-qualified candidates’ opt-out of the interview process is usually due to lack of the essential information to move forward.
The Key is to always maintain contact in the interview process, this is crucial in the final negotiations with Loan Officers. Don’t relax your attention to a single candidate; even if you are 99.9% sure they will accept your offer.
Remember, you’ve devoted a great deal of time and energy to making an offer, not to mention the cost invested and just a little more effort can make the difference.
Our Candidate Closing Solutions will keep the lines of communication open and assist in getting more prospects to the offer and on-boarding stages and not losing the candidate to the competition.
Industry statistics reveals that sometimes candidates say, “no” in the interview process. When a candidate says no on the first call, it’s not so bad. When they tell you no just about the time you are prepared to make an offer, and/or have already made an offer, this could be a really difficult situation for a Sales Manager to over-come.
Our clients may have already qualified the prospect, conducted a series of interviews and in many cases preparing to extend an offer. The candidate then goes cold or stops returning calls. Communication from the candidate is critical for the hiring manager to isolate any issues or overcome any concerns.
At this crucial time, our Search Consultant assist Hiring Managers in the closing and on-boarding processes, to ensure more success hires.
- OUR PROCESS
Our Search Consultants interview the Hiring Managers to determine where each of their prospects is in the interview process and isolate each candidate’s motivations to consider a career move. Hiring Manager provides the consultants with their qualified candidates that been vetted and already in the interview process (within the past 180 days) and meet position requirements.
Candidate Profile to include:
- Level of experience
- An outline of their production mix
- Closing volume (year to date and past 3-5 years)
- Employment history
- Current interview activity (Stage of the process)
By the time our Search Consultants contacts the candidates on our client’s behalf, they will have knowledge of the candidates’ qualifications, employment history, notable accomplishments and the candidates perceived hot buttons that motivated them to consider the move in the first place.
The key to successfully hiring Top Performers is to understand – most successful people will consider looking at a career change or advancement, if they feel it is in their best interest and on their schedule.
- KEY STEPS
Step 1: Identify Targeted Candidates
- Develop with client a targeted list of all potential qualified candidates.
- Attain a thorough understanding of each candidate’s qualification, accomplishment, income parameters and work history
- Identify their hot buttons and concern
- Isolate each candidate motivations to consider a career move.
Step 2: Blind recruit the candidate
- Locate and contact all candidates using direct sourcing methods
- Pre-screen and evaluate candidates to confirm a match to the minimum criteria in the job specification
- Present the opportunity and peak the interest of qualified candidates
- Determine if qualified candidates are interested
- Document a detailed profile of all qualified candidates to include: their overall qualifications, work history, education and income parameters
- Isolate their interest and motivations to a career change
- Determine what companies they would and would not consider and why
Step 3: Determine the candidates’ apprehensions
- Isolate their concerns; to a career change or the clients’ opportunity
- Understand the candidate’s reluctance
Step 4: Gain a commitment to re-evaluate the opportunity
- Counsel the candidate to keep an open mind of the opportunity
- Convince the candidate to proceed to the next level in the process
- Schedule the next interview to meet with client
Step 5: Communicate with Client
- Review with client each candidate qualifications, their interest level and motivations to a career change
- Provide a detailed profile of each qualified candidate to client
Step 6: Scheduling the Follow up Interview
- Provide date and time of interview
- Confirm with each qualified/interested candidate
- Send a confirmation email with date, time and venue
Step 7: Review with all parties
- Review with client an overview of the interview to include their interest level and any concerns
- Determine the next steps in the process
- Review with candidate their overview of the interview to include their interest level and any concerns
- Provide client with the candidates debrief summary on any issues/concerns and feed back
The Candidate Closing Solution – When all else fails, and your candidate is on the fence and not sure that it is the right time for a move.
In today’s competitive market, it is difficult for top producers to leave one company and move their book of business to another company. When is comes down to having to make that decision, it is much easier to just stay put.
Our team of veteran headhunters have place thousands of professionals, in many cases, in the same situation. We take a more consultative approach with this type of candidate; our search consultants develop a transition plan that motivates your prospect to move now rather than later.
The fear of change is at the top of mind for top producers that have a lot to lose if the transition breaks down. We structure a 30-60-90 day action plan and a one-year plan that puts your candidate in a position to win business. Once a candidate understands exactly what to do and how involved their new manager will be in their ealy stage on-boarding the fear of change diminishes… And your ability to close more top producer greatly improves.
We provide our clients with industry-leading resource to attracting passive candidates. We offer an array of recruiting services designed to increase the recruiting & staffing effectiveness. For more information on Candidate Closing Option, please contact us to start your search today!