Recruiting top talent does not happen overnight and does not come easy; even for the best hiring managers. Unless you are willing to offer a phenomenal package, recruiting the top talent requires building relationships to attract the industry’s professionals to join your company. Sometimes, with luck and timing, this process can be almost immediate. Often times, the process requires time, patience and consistent effort. That is generally where the recruiter … outside and in-house, fail.
Because of the tremendous pressure on their time, recruiters do not have the luxury of developing long-term relationships with top talented candidates. Most seasoned professionals have received the phone call from outside and in-house recruiters, recruiting for a position. They inquire as to “whether you would be interested.”
This is how an A-typical recruiting call sounds …
Are you interested in making a move? No. Do you know anyone who might be…? No.
Guess what? The prospect never hears from that recruiter again, or if they do, it is months or years later when the recruiter has another opening and they run across their name again.
Although this approach is a common practice, this method of recruiting is terribly inefficient. The candidates the recruiter generates are the people who are ready to move today, and the likelihood that top prospects are looking to move today is extremely unusual.
Hiring managers need their own recruiting campaign in place to capture those top prospects when they are ready to make the move … and who knows when that will be? When they are ready to move, who will they call?
Without a consistent, effective recruiting campaign, the answer to the last question is—probably that one sales manager that has been consistently and tenaciously making those recruiting calls.
Unfortunately many companies erroneously believe that their reputation, visibility, or size will be sufficient to attract the top talent they need. Not true.
A Winning Recruiting Campaign implements a consistent, well defined and executed recruiting program to:
- Position your company to attract top talent when the talent is ripe.
- Place your company at the top of the candidate’s mind when the candidate determines the time is right to make a move.
- Help the candidate make a positive move toward your company before he/she may otherwise have decided to change companies.
- Most crucial element, The YOU-Factor. What is it YOU bring to the table that will complement the candidate book-of-business?
Here are several tips to create a successful recruitment campaign:
Tip One: Top producing loan officers are always passively looking for a job, they’ll consider a move when there is trouble at their current employer that is effecting their business. So the best strategy is to make recruiting an ongoing activity. Keep your ‘finger on the pulse’ and make recruiting an every day activity.
Tip Two: Develop an on-going strategy that ensures you are recruiting all of the time. Have a clear, well thought plan in writing. Plan and develop a Recruiting Plan with clear objectives and desired results.
Tip Three: Create the Ideal Candidate Profile, this is not just a job description, this clearly defines what you want in a good candidate. Know what you are looking for and don’t leave your selection criteria to chance. Once you’ve developed a clear description of what your Ideal Candidate looks like, you’ll be able to distance yourself from the emotions involved in your interview process and make objective decisions.
Tip Four: Consistently review the ads of your competitors, how they are wording their sales recruitment ads and learn what they are doing to attract talent. Create your own ads that will attract attention away from your competition and towards your own organization.
Tip Five: Consider all media options to advertise for your Loan Officers, to include; full-color industry publication inserts, business journal classifieds, a banner ad on your website and industry related websites. For the newbies have a university ‘career’ days, job/career fairs, use internet job postings and maybe even radio ads.
Don’t restrict your efforts to just one advertising medium. As like your marketing campaign, you need to build a recruiting ‘web’ with many branches to get the word out about your organization and to attract top talent.
Tip Six: Don’t assume experienced loan officers have the skills and abilities to bring in sales results right away. In your recruitment strategy, ensure that you incorporate coaching, training and support for your New hire Orientation. The recruiting and hiring of staff is a continual process that does not end with one job interview. Having a consistent plan that incorporates staff development improves your recruitment and retention outcome.
Tip Seven: Have an attractive and fair compensation plan in place. Consider hiring ‘newbies’ with no previous mortgage experience, but with similar skill sets of top producers. Reward both your trainees and more experienced candidates with a financial package that not only attracts experienced candidates, but encourage them to work hard, and stay committed to your organization for the long haul.
When recruiting you’ve got two choices. You can make up the process as you go along and hopefully cover ‘every angle’ or you can set aside a few hours to follow a process that works.
The information in this article is part of the The PlayBook Mortgage Recruiting e-Learning series. Join the Month Mortgage Recruiter Coach Lesson to learn more about Winning the Elusive Candidate and watch the entire series of recent webinars covering topics from; list building to recruiting, closing and on-boarding talent.
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In addition to the mortgage industry news, new challenges and recruiting opportunities, we offer tips and techniques from Jim and the team at EMAC Recruiting Academy… Where our goal is to raise your Recruiting Intelligence!
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